Europe Connected Tires Market 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.
Connected Tires benefit consumers 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 the vertical load in automobiles. The connected Tire sends data to the car's infotainment system via sensors, allowing access to information such as Tire pressure, operational condition, and Tire life. The connected tire's primary functions are to monitor, assess, and display data.
Introduction of Europe Connected Tires market:
Stellar Market Research report is a user-friendly library of a Europe Connected Tires market report database that provides comprehensive reports with in-depth analyses of market trends, segments, top investments, value chain, regional landscape, and competitive scenario.
Stellar Market Research's expert group published each insight presented in the report, which is derived from primary interviews with top officials from leading companies in the domain in question. The report's secondary data research methodology includes extensive online and offline research as well as discussions with industry experts and analysts. In the report, Europe Connected Tires market reports, industry trends on a macro level have been explained, which is expected to aid in determining an outline market landscape and potential future issues.
Europe Connected Tires Market Overview:
The report analyzes the current Europe Connected Tires market in depth and forecasts performance over the forecast period. The report profiles the key market criteria to assist stakeholders in making informed business decisions. The report provides an overview of the Europe Connected Tires market, highlighting standard topics and providing data that can be customized as needed. The report provides insight into the Europe Connected Tires market, which aids in understanding future product demand and competitiveness. Market Overview provides detailed information on market size, regional share, and market player benchmarking. The report assists in providing complete knowledge of the Europe Connected Tires market in order to redefine business strategies and fully utilize them.
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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)
Europe Connected Tires Market Dynamics:
The market is expected to expand due to the increasing deployment of modern technologies in vehicles such as tire pressure monitoring systems, temperature control systems, and other systems that prevent vehicle breakdowns. Furthermore, increased installation of various sensors in automobile tires, which enable real-time data analysis for vehicle users, is expected to drive market growth. Furthermore, leading Tire manufacturers are investing in technological advancements such as B-Tag systems that monitor and transmit Tire pressure and temperature, as well as intelligence and machine learning in-vehicle Tires such as rim management and tread detection systems, which help track Tire performance.
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.
By way of example, During the forecast period, the use of connected tires 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 Tire performance, and Tire service life. This factor, along with increased passenger car registrations and sales around the world, has fueled the growth of the connected Tire 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 Tire market, which will be supported by macro factors such as the availability of financial services, rising living standards, and increased customer purchasing power.
Prime Reasons to purchase a Europe Connected Tires Market report:
The goal of the Europe Connected Tires market report is to help consumers to gain more information and a clearer understanding of the industry. The Europe Connected Tires market growth analysis includes development trends, competitive landscape analysis, investment plan, business strategy, opportunity, and key regions development status for international markets.
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Europe Connected Tires Market , North America Eco Fiber Market
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.
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Mar 11, 2023
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