• Thu. Sep 22nd, 2022

Global Tire Market Report 2022: Introduction of CAIS Technology Presents Opportunities for Further Growth – Yahoo Finance UK


Sep 17, 2022

From NI to tax cuts – what the chancellor of the exchequer could announce at his first fiscal event
Global Tire Market
Dublin, Sept. 16, 2022 (GLOBE NEWSWIRE) — The “Global Tire Market By Vehicle Type, By Demand Category, By Tire Construction Type, By Region, Competition, Forecast and Opportunities, 2017-2027F” report has been added to ResearchAndMarkets.com’s offering.

The Global tire market stood at USD230.88 billion in 2021 and is estimated to reach USD353.27 billion in 2027, registering a CAGR of 7.53%. Escalating sales of automobiles, growing replacement demand for tire and advancement in tire technology are driving the growth of the global tire market in the forecast years.

Increase in automobile sales and production
Increasing production and sales of passenger vehicles and commercial vehicles across all the regions are anticipated to drive the consumption of tires in the upcoming years. The International Organization of Motor Vehicle Association (OICA) estimated that over 80 million new passenger and commercial cars were produced in 2021, representing a cumulative increase of more than 3% above the production in the preceding years. Over 17 million motor vehicles-roughly 58% of the world’s total production-were produced in the APAC region, followed by North America, Europe, South America, the Middle East and Africa.
Rise in Concern for Fuel Efficiency and Safety
Many countries are implementing strict tire performance regulations, including fuel savings and wet grip-related braking distance reduction, in response to growing safety concerns. As a result, there is much potential for tire manufacturing businesses to develop tires that can comply with standards. As a result of increased technological breakthroughs, suppliers are developing extremely effective tires that improve automobiles’ overall fuel efficiency. Self-inflating technology and Low Rolling Resistance (LRR) technology are used by tire manufacturers to enhance safety and increase fuel efficiency.
For increasing fuel efficiency, pneumatic tires are getting popular, pneumatic tires are majorly related to safety and fuel efficiency, and in the upcoming years, high demand is expected for these tires. Trelleborg, an engineering company, centered on polymer technology, recently introduced a new line of pneumatic tires with attributes such as grip and durability for the North American market. Thus, it is projected that increased concern about safety and fuel economy will present a significant growth potential for the companies.

Technological Advancement
The manufacturers that make tires are developing a system called “Contact Area Information Sensing” (CAIS), which consists of a sensor mounted to the internal wall of the tire and monitors the sensor’s interactions with the road’s surface. The technology analyzes the state of the road to determine whether it is dry, wet, slushy, fresh snow, or icy, and then transmits that information in real-time to the driver via a digital screen. The ability to exchange data with other vehicles that are similarly networked would allow CAIS technology, which is currently used by tire manufacturers, to become more advanced. This might enable the vehicle to foresee the actions of the automobile in front.
In the future, CAIS may connect air pressure data with air pressure sensors and provide information on tread wear. To improve performance and productivity on the one hand and to lessen the miner’s exposure to risks, BKT has also implemented automated equipment and monitoring systems. The SPOTech (Satellite Performance Optimization Technology) monitoring system is designed to take measurements of variables such as average/maximum speed, cycle times, lateral/vertical/longitudinal forces, percent grade, and other relevant data that can be used to optimize haul road construction and resolve problems with tire operation such as uneven wear, belt contour separations, and heat buildup.

Report Scope:
In this report, Global tire market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Global Tire Market, By Vehicle Type:
Passenger Car
Light Commercial Vehicle
Medium & Heavy Commercial Vehicle
Global Tire Market, By Demand Category:
Global Tire Market, Tire Construction Type:
Global Tire Market, By Region
Key Topics Covered:

1. Product Overview

2. Research Methodology

3. Executive Summary

4. Global Tire Production Overview

5. Voice of Customer

6. Impact of Covid-19 on Global Tire Market

7. PESTLE Analysis

8. Porter’s Five Forces

9. Global Tire Market Outlook

10. Asia-Pacific Tire Market Outlook

11. North America Tire Market Outlook

12. Europe & CIS Tire Market Outlook

13. South America Tire Market Outlook

14. Middle East Tire Market Outlook

15. Africa Tire Market Outlook

16. Market Dynamics

17. Market Trends & Developments

18. Supply Chain Analysis

19. Import & Export Analysis

20. Impact of Russia-Ukraine War on Global Tire Market

21. Competitive Landscape

22. Strategic Recommendations

23. About the Publisher & Disclaimer

Companies Mentioned
The Michelin Group
Bridgestone Corporation
Continental AG
Goodyear Tire and Rubber Company
Sumitomo Rubber Industries, Ltd.
Hankook Tire & Technology Co., Ltd.
Pirelli & C. S.p.A.
The Yokohama Rubber Co., Ltd.
Zhongce Rubber Group Co., Ltd.
Cheng Shin Rubber Industry Co.
Toyo Tire Corporation
Shandong Linglong Tire Co., Ltd.
Giti Tire
Business Overview
Apollo Tyres Ltd.
Sailun Group Co. Ltd.
Madras Rubber Factory Ltd.
Kumho Tire Co. Inc.
Nokian Tires plc
Nexen Tire Corporation
JK Tyre Industries Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/ltdtxj
Global Tire Market

Sterling fell against both the dollar and the euro
Finnish utility Fortum on Friday said it plans to add 560 megawatt (MW) capacity to the Nordic power market after October by reactivating an idle coal-fired power plant on Finland's west coast. The company made the decision after the Finnish Energy Agency dropped the plant from Finland's peak-load capacity reserve. "Fortum will start preparing the Meri-Pori power plant for commercial use," the company said, adding that additional personnel will be recruited in the coming weeks.
It came as the euro area’s annual inflation rate came in as expected at 9.1% in August, up from 8.9% in July. This is more than three times the rate in August 2021.
Sitting on the side of a Jakarta road anxiously waiting for his phone to ping, driver Muhammad Ridwan says it is now barely worth hurtling through thick smog every day to ferry passengers.
Pensioners have been forced to wait as long as six months for their state pension, with many left out because of the system’s “ludicrous complexity”.
Markets are pricing in a hike to 2.5%, while most economists think it will stop short of this at 2.25%.
LONDON (Reuters) -Shell said on Friday it was "unaffected" by the German government's decision to place the PCK Schwedt oil refinery under a trusteeship, effectively taking control away from Russian majority owner Rosneft. It is unclear who will step in to replace Rosneft as operator of the 233,000 barrel per day refinery, which Shell has sought to sell out of. "Shell remains unaffected by this order as a 37.5% shareholder in PCK Schwedt and will continue to comply with its contractual obligations in accordance with its own shares," Shell said in an emailed statement.
Kanye West told Gap on Thursday he was unilaterally severing his partnership with the retail brand and had plans to open his own stores.
Falls against the dollar are prompted partly by concern about Liz Truss’s economic and energy policies
Discounter gains market share as shoppers seek better value amid cost of living crisis
More than one in five people in work have considered taking time off due to the stress, according to a survey. By Vicky Shaw.
during the forecast period. The key elements anticipated to propel the adoption of geospatial analytics market technology throughout the forecast period is the increasing geographic deployment of IoT sensors.New York, Sept. 16, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report "Geospatial Analytics Market by Component, Solution, Service, Type, Technology, Deployment Mode, Organization Size, Application, Vertical and Region – Global Forecast to 2027" – https://www.repo
Uber said Friday it was investigating a "cybersecurity incident," declining to comment on reports a young hacker had gained access to the ride-hailing company's computer network.
Snaking through London, the queue to see Queen Elizabeth II lying in state ran for 4.4 miles on Thursday, stretching from Westminster to Tower Bridge and beyond.
Unite leader deplores prospect of post-Brexit deregulation drive ‘when millions are struggling’
The government is set to reignite high-level talks with bosses at SoftBank once the official mourning period for Queen Elizabeth II ends next week.
BUDAPEST (Reuters) -Hungary has extended price caps on fuels and basic foodstuff by three months until the end of the year in a bid to shield households from soaring costs, Prime Minister Viktor Orban's chief of staff told a briefing on Saturday. Budapest has sharply criticised the European Union for imposing sanctions on Russia over its invasion of Ukraine, saying they have failed to weaken Moscow meaningfully while causing a surge in food and energy prices. Combined with falls in the forint to record lows, the price rises have sent Hungary's inflation to two-decade highs, forcing the National Bank of Hungary to hike its base rate sharply to 11.75%.
Inflation, energy bills and staff shortages are causing businesses, many founded during pandemic, to fold in record numbers
Finland will seek compensation of up to 8 billion euros ($7.97 billion) if Germany nationalises gas importer Uniper, a Finnish cabinet minister said on Friday. Uniper, which is majority owned by Finnish utility Fortum, said on Wednesday the German government might take a controlling stake in the company as it sought further aid on top of a package agreed with Berlin in July. "It is absolutely clear that Finland will not allow Germany to nationalise Uniper without compensation," Minister of European Affairs and Ownership Steering, Tytti Tuppurainen, told the Finnish parliament.
LIMA (Reuters) -Miner Glencore Plc said on Friday that a planned expansion at its Antapaccay copper mine in Peru is "under review," amid a blockade that has disrupted operations. Indigenous residents near the mine have been protesting this week that they should be consulted on the mine's expansion. The company said it will make an announcement when it reaches a decision on the expansion project which is known as Coroccohuayco.


Leave a Reply

Your email address will not be published.