Advanced Tires Market Size, Share, and Industry Analysis, By Product (Pneumatic, Run-Flat, and Airless), By Technology (Self-Inflating, Chip Embedded, Multi-Chamber, All-in-One, and Self-Healing), By Vehicle (ICE, Electric, Hybrid, and Off-Highway), and Regional Forecast, 2025-2032

The primary materials for automotive tires are natural rubber, synthetic rubber, sulfur, elastomers, and other carbon compounds. These materials during manufacturing are responsible for carbon emissions. The stringent emissions lead to reduced usage of these raw materials for manufacturing tires. The OEMs introduced advanced tire manufacturing to reduce tire weight, introduce more eco-friendly materials, and implement new raw material production technologies.

The high initial investments, high cost, and difficulty in mass production hamper market growth. Advanced tires have low commercial viability, and many OEMs are not interested in investing in them.

The COVID-19 pandemic negatively impacted the advanced tires market. Government restrictions, such as global lockdowns and social distancing, worsened the situation, leading to a scarcity of working capital in the automotive sector and deteriorating the condition of the automotive market and its components. The production of advanced tires was affected due to the lockdown, and the supply chain has been disrupted.

However, as awareness for eco-friendly transport alternatives grows post-pandemic, there is also an increase in electric scooter demand. Scooters have low operating and maintenance costs, which boosts the demand for scooters and thus improves market growth.

Key Insights

The report covers the following key insights:

• Latest Developments


• Porter's Five Forces Analysis.


• Technological Developments


• Impact of COVID-19 on the Advanced Tires Market

Segmentation

Analysis by Product

By product, the market is classified into pneumatic, run-flat, and airless. The pneumatic segment is expected to grow significantly over the forecast period. Premium vehicles are equipped with advanced pneumatic tires due to the high-performance, all-terrain, and all-season pneumatic tires offering low rolling resistance, better handling of the vehicle, and enhanced braking capabilities. Pneumatic tires are projected to be the prevailing type of advanced tires in passenger cars due to their exceptional grip and maneuverability across various terrains. Moreover, pneumatic tires can be easily mass-produced by integrating sensors and chips. This streamlined production process and their ability to carry high loads at high speeds are expected to be key drivers for the segment expansion.

Analysis by Technology

By technology, the market is segregated into self-inflating, chip embedded, multi-chamber, all-in-one, and self-healing. The self-inflating tire technology in off-highway is expected to grow significantly during the forecast period. Off-highway vehicles, such as construction & mining equipment, agricultural tractors, and industrial vehicles, operate in different weather conditions on various terrains for long working hours. For instance, tractors with higher power output have large tires with high pressure, whereas self-inflating tires can adjust tire pressure. So that soil and crop fields remain unharmed. Similarly, construction & mining equipment work on rough terrain at extremely high temperatures and adverse climatic conditions. Self-inflating tires can reduce tire pressure to an optimized level to prevent tire failure. So, some OEMs offer self-inflation tires in their construction & mining equipment.

Regional Analysis

The global market is geographically segmented into North America, Europe, Asia Pacific, and the Rest of the world. Asia Pacific is expected to dominate over the forecast period owing to high population growth and economic development. Further, the presence of major key players in the region and their investments in developing advanced tire technologies also boost the market growth. In the Asia Pacific market, local key market players, including Bridgestone, Yokohama, Bridgestone Corporation, Sumitomo Rubber Industries, and Yokohama Tire Corporation MRF and JK Tire, contribute to regional growth and innovation in the field of advanced tires. As a result, the Asia Pacific market is expected to experience ongoing innovation and continued growth in the forthcoming years.

The market in Europe is expected to grow significantly throughout the forecast period. Countries, such as Germany and the U.K. account for a significant share of premium car production globally. Also, the growing inclination toward connected technologies in automotive fuels the market growth.

The advanced tires industry growth in North America is expected to grow due to increasing safety and convenience needs in passenger cars and the increasing number of fleet management technologies in the region.

Key Players Covered

Continental AG (Germany), Bridgestone Corporation (Japan), Pirelli Tyre C. S.p.A. (Italy), MICHELIN (France), Toyo Tire Corporation (Japan), Hankook Tire & Technology Co., Ltd. (South Korea), Goodyear Tire & Rubber Company (U.S.), Yokohama Rubber Co., Ltd (Japan), Sumitomo Rubber Industries Ltd., Nokian Tyres plc (Finland), and CEAT (India) are some of the key companies in the market.

Key Industry Developments

• In April 2023,  Hankook Tire launched Ventus S1 EVO Z AS X, a new ultra-high-performance all-season tire designed for SUVs, to its comprehensive Ventus product line. This provides ultimate high-speed handling, excellent traction in all-season conditions, and uncompromised comfort for luxury SUVs.


• In March 2023, Toyo Tire Corporation announced that it would participate in the Nürburgring 24 Hours from 18^th to 21^st May 2023.