The India Smart Tyre Market is expected to grow significantly due to the rising disposable income and rising government investment.

Commercial vehicle manufacturers nowadays can manage and monitor their fleets using digital monitoring systems due to smart tires. With the growing number of commercial vehicles on the road, fleet operators have tracked numerous metrics such as fuel usage and carbon emissions, resulting in a rise in demand for sophisticated tires that can monitor tire problems in real-time. The rising trend of autonomous driving and connected vehicles, growing demand for real-time data of tyre pressure and temperature among customers, and increasing integration of advanced sensors in tyres to track the status of the tyres and transmit information are the major factors driving the growth of the Smart Tyre market. Tyre manufacturers are supporting smart tyre adoption through a variety of initiatives. Manufacturers are also concentrating on incorporating numerous creative characteristics into their products, such as high performance, low wear and tear, road condition, road condition, and terrain adaptation, which is expected to drive market expansion.

Request free sample report of this research report: www.shingetsuresearch.com/sample-enquiry-form/

Technology Overview in the India Smart Tyre Market

Based on the Technology, the India Smart Tyre market is segmented into Pneumatics Tyres and Non-Pneumatic Tyres. The Pneumatics Tyres segment accounted for the largest share in the India Smart Tyre market in 2020 due to its low-cost feature compared to non-pneumatic technology-based smart tyres. Pneumatic tyres can absorb uneven terrain, resulting in a smoother ride with less swaying and bouncing. Growing population, rising per capita income, urbanization, cost-effective production factors, and so on are major drivers.

Vehicle Type Overview in the India Smart Tyre Market

Based on the Vehicle Type, the India Smart Tyre market is segregated into Passenger vehicles and Commercial vehicles. The Passenger vehicles segment is accounted for the largest share in the India Smart Tyre market in 2020 and is expected to have a significant market share during the forecast period. The market is expected to be driven by the rising population, increasing disposable income, and the ease of obtaining finance and funding. Furthermore, the market is expected to observe increased demand for passenger vehicles as the logistics and passenger transportation sectors grow. Government projects and regulations have a big impact on the market's growth, and that they are expected to keep it going in the foreseeable future.

Regional Overview in the India Smart Tyre Market

The India Smart Tyre market is segmented into North India, South India, West India, and East India. The North India region is expected to have the largest share in the India Smart Tyre market in the coming years. In North India, manufacturers are collaborating with universities to do autonomous vehicle research. For instance, MG Motor India partnered with IIT Delhi's Centre for Automotive Research and Tribology (CART) in March 2021 to research the realm of electrified and driverless cars. IIT Delhi will assist MG in focusing on CASE mobility (Connected, Autonomous, Shared, Electric) by facilitating research for the deployment of electric & autonomous cars in urban areas.
India Smart Tyre Market: Competitive Landscape
Companies include Continental AG, Bridgestone Corporation, Michelin, The Goodyear Tire & Rubber Co., Pirelli & C. S.p.A, The Yokohama Rubber Company Limited, Hankook Tire & Technology Co., Ltd., Sumitomo Rubber Industries, Ltd., JK Tyres & Industries Ltd., NXP Semiconductors, and Other prominent players are the key players in the Smart Tyre market.

Read Full Report: https://www.shingetsuresearch.com/smart-tyre-market/

Contact Us:
Shashank Kumar
Head of Business Development
Shingetsu Research | Web: www.shingetsuresearch.com
Direct Line: +1 217 953 4020
Email: sales@shingetsuresearch.com

Shingetsu Research and Consulting Pvt. Ltd. is a research, advisory, and analytics company. We have a specialized team of consultants catering to various verticals, including Consumer Goods & Retail, Healthcare, ICT, chemicals, BFSI, and many others. We have expanded beyond the essential services to advanced research services such as Financial Modelling, Supply & Demand Analysis, Pricing Analysis, Competitive Analysis, and various other services briefly, which facilitate senior executives across industries and giants who have established names in different industry verticals. Through our indispensable business insights, we can help our clients achieve the mission-critical tasks that facilitate them to build the organizations of tomorrow.

This release was published on openPR.