Research Reports
Advanced Tire Market is Expected to Reach USD 1,350.7 million by 2027
Published by Vironi Solutions LLP
Posted on October 4, 2021
6 min readLast updated: January 31, 2026
Global Banking & Finance Review®
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Published by Vironi Solutions LLP
Posted on October 4, 2021
6 min readLast updated: January 31, 2026
The Advanced Tire Market is set to grow from USD 250.3 million in 2020 to USD 1,350.7 million by 2027, driven by technological advancements and increased automobile demand.
The latest market research report “Advanced Tire Market By Material type (Natural Rubber, Synthetic Rubber, Steel, Elastomers, Others); By Type (Pneumatic Tires, Run Flat Tires, Airless Tires); By Technology (Chip Embedded Tires, Self-Inflating Tires, Multi Chamber Tires, All In One Tires); By Vehicle Type (Light Duty Vehicles, Heavy Duty Vehicle, Agricultural Tractors, Construction & Mining Equipment, Industrial Equipment); By Region, Opportunity Analysis and Industry Forecast, 2021–2027” published by AllTheResearch, features an analysis of the current and future scenario of the global Advanced Tire market.
The global Advanced Tire Market was valued at USD 250.3 million in 2020 and is expected to reach USD 1,350.7 million by 2027, growing at a CAGR of 19.1% during the forecast period, 2021-2027.
Advanced Tire are comprised of different mixes of various sorts of materials. They have less possibilities of getting penetrated and are eco-friendly. They have a superior hold out and about and less inclined to mishaps and can detect the states of the streets. Industrialization, commercialization, and an ascent sought after for cars, for example, trucks, vehicles, farm haulers, and so forth, have prompted an increment in the creation of autos and henceforth an expansion in the advance tire market. For example, India, in 2020, is supposed to be fourth biggest car industry on a worldwide scale, with an expansion in deals of 10% year-on-year to 4.3 million units.
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Global Advanced Tire Market Report Overview:
The report overview includes studying the market scope, leading players like Bridgestone Corporation, Continental AG, Michelin, Pirelli & C. S.p.A, The Goodyear Tire & Rubber Company, THE YOKOHAMA RUBBER CO., LTD, Nokian Tyres plc, Hankook Tire & Technology Co., Ltd., Sumitomo Corporation, Toyo Tire Corporation, etc., market segments and sub-segments, market analysis by type, application, geography. The report covers Leading Countries and analyzes the potential of the global Advanced Tire industry, providing statistical information about market dynamics, growth factors, major challenges, and market entry strategy Analysis, opportunities, and forecasts. The biggest highlight of the report is to provide companies in the industry with a strategic analysis of the impact of COVID-19.
COVID-19 Impact Analysis on Advanced Tire Market:
The Covid 19 impact was felt across all industries worldwide. The automobile industry and related industries were badly affected due to social distancing and lockdown policies of the governments worldwide. With little to no use of automobiles, the tire industry suffered a huge loss. Michelin and Goodyear reporting second-quarter sales declines of approximately 20% and 41%, respectively. As the “2020 Domestic Demand for Automobile Tires” report by the Japan Automobile Tyre Manufacturers Association (JATMA), the sales of new automobile tires for vehicles in 2020 were 36,439,000 down, a 17% decrease year-to-year. However, after the respite from the lockdown, there was a major thrust in the automobile industry. Consumers were seen to spend millions of dollars for repairs, maintenance and replacements for their vehicles. The first half of 2020 was badly affected by COVID-19 however, demand for new advanced tires recovered in the second half of the year due to strong new vehicle productions. This was seen to boost the advanced tire market.
The Major Companies Covered in Advanced Tire Market Report are:
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The Global Advanced Tire Market Segmentation:
By Material Type Outlook:
By Type Outlook:
By Technology Outlook:
By Vehicle Type Outlook:
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Regional Analysis:
In view of district, Europe is relied upon to hold the biggest offer during the figure time frame. Europe is one of the keys and driving makers of premium vehicles. Germany and the UK, together, are answerable for assembling around 35% of the all-out premium vehicles. Furthermore, vehicle makers, for example, Audi, Mercedes, and Ferrari are situated in Europe. The biggest number of premium vehicles producing combined with a high pace of reception of cutting-edge innovations is assessed to drive the European progressed tires market. Rising interest for electric vehicles alongside solid homegrown creation are a portion of the key variables which will help the development of the high-level tire market in Europe.
Report Highlights:
The report also provides in-depth analysis of recent news developments and investments:
Reasons for Buying this Report:
Source of Content: https://www.alltheresearch.com/press-release/advanced-tire-market
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The article discusses the growth and forecast of the Advanced Tire Market, expected to reach USD 1,350.7 million by 2027.
How did COVID-19 impact the tire market? The pandemic initially decreased demand, but recovery followed as vehicle production resumed.
What are the key drivers of market growth? Technological advancements and increased demand for durable, eco-friendly tires.
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