Europe Connected Tires Market Opportunities, Industry and Forecast 2027

[manisha kashid]

Consumers benefit from connected tyres because they are equipped with sensors that make driving safer and more convenient. The sensors collect vital data and information that can be used to calculate vertical load in automobiles. The connected Tyre transmits data to the car's infotainment system via sensors, allowing access to information such as Tyre pressure, operational condition, and Tyre life. The primary functions of the connected tyre are to monitor, assess, and display data.

Europe Connected Tires Market Report Scope and Research Methodology

The report analyses the Europe Connected Tires market size, growth, supply, demand, share, innovations, and recent developments, and key stakeholders can use the simple statistics, tables, and figures for strategic planning that leads to the organization's success. The report includes a detailed competitive landscape analysis of the Europe Connected Tires market, as well as Company Profile, Revenue, Product Specifications, Production Capacity/Sales, Price, and Gross Margin Sales. The value of the and regional Europe Connected Tires markets was estimated using the bottom-up approach. The information gathered using both methods The primary and secondary research methodologies were combined to create an authentic and error-free market report. In order to obtain an accurate Europe Connected Tires market size, the analyst obtained these figures from Europe Connected Tires industry experts and company representatives and externally validated them by analysing historical data of these product types and applications. SWOT analysis and Porter's Five Force Analysis are used to define, characterise, and analyse the Europe Connected Tires market competition landscape, with a focus on key players.

Europe Connected Tires Market Overview:

Stellar Market Research offers a summary of the Europe Connected Tires Market as well as the most recent market snapshots. This aids comprehension of its features by providing an overview of the Europe Connected Tires market that highlights common topics. This overview helps clients understand the situation in the Europe Connected Tires industry.

Europe Connected Tires Market Size was valued at USD 0.24 Million in 2021. The Europe Connected Tires Market size is estimated to grow at a CAGR of 65.5 % over the forecast period.

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Europe Connected Tires Market Regional Insights:

The report assists clients in understanding the Europe Connected Tires market structure by providing detailed information on key players in each key country. It is a clear representation of local energy, economic, political, and geographic variables that is required for any meaningful evaluation of potential policy options in response to the development of each region's Europe Connected Tires market. North America, Asia Pacific, Europe, South America, the Middle East, and Africa are all covered in the report.

Europe Connected Tires Market Dynamics:

Market Drivers: The market is expected to grow as more modern technologies in vehicles, such as tyre pressure monitoring systems, temperature control systems, and other systems that prevent vehicle breakdowns, are deployed. Furthermore, the increased installation of various sensors in automobile tyres, which allows for real-time data analysis for vehicle users, is expected to drive market growth. Furthermore, leading Tyre manufacturers are investing in technological advancements such as B-Tag systems, which monitor and transmit Tyre pressure and temperature, as well as intelligence and machine learning in-vehicle Tyres such as rim management and tread detection systems, which aid in Tyre performance tracking. As a result, the increasing incorporation of innovative features in vehicles is likely to fuel market growth.

Europe Connected Tires Market Segmentation:

The 18"-21" rim size category is expected to grow significantly over the forecast period. Increased sales of automobiles with rim widths ranging from 18" to 21" have fueled the segment's rise. Furthermore, because these wheels are commonly found in luxury vehicles, segment growth is being fueled by increased demand for luxury vehicles with more amenities.

The "greater than 22" sector is expected to grow at the second-fastest rate between 2021 and 2027. Increased use of large rim widths in automobiles is expected to support segment growth by improving vehicle handling, traction, braking, and other characteristics. Furthermore, the market is expected to grow as the development and deployment of connected technology in automobiles accelerates.

By way of example, During the forecast period, the use of connected tyres in passenger vehicles is expected to increase. This is due to increased consumer spending power and increased demand for vehicle and human safety as a result of increased road accidents, explicit Tyre performance, and Tyre service life. This factor, along with increased passenger car registrations and sales around the world, has fueled the growth of the connected Tyre market. For example, approximately 55 million passenger automobiles were sold in 2016, with 57 million units sold in 2021. The increased use of passenger cars is expected to create significant growth opportunities for the connected Tyre market, which will be supported by macro factors such as the availability of financial services, rising living standards, and increased customer purchasing power.

Europe Connected Tires Market Key Players:
Michlin (France)
Continental AG (Germany)
Bridgestone Corp (Russia)
Nokian Tires (Russia)
Pirelli Tires (Russia)
Victoria (Italy)
Zenises (UK)
Trellborg (Sweden)

Key questions answered in the Europe Connected Tires Market are:

• What is Europe Connected Tires Market?
• What are the Europe Connected Tires Market segments?
• Which Europe Connected Tires market segment is expected to grow at a high rate during the forecast period?
• Who are the top players in the Europe Connected Tires market industry?
• What is the expected Europe Connected Tires Market size by 2029?
• What was the Europe Connected Tires Market size in 2021?
• Which region is expected to grow at a high CAGR?
• Who held the largest market share in Europe Connected Tires Market?

Key Offerings:

• Past Market Size and Competitive Landscape (2018 to 2021)
• Past Pricing and price curve by region (2018 to 2021)
• Market Size, Share, Size & Forecast by different segment | 2022−2029
• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation – A detailed analysis of segments and sub-segments
• Competitive Landscape – Profiles of selected key players by region from a strategic perspective
• PESTLE Analysis
• PORTER’s analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations

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About Stellar Market Research

Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.

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