Countries across the globe are looking to embrace fuel consumption norms for passenger cars— corporate average fuel efficiency (CAFE) for all car makers which could be pivotal in deciphering the realignment move in the global automotive industry. The CAFE norms is likely to compel SUV and car makers to invest more in hybrid and electric vehicle technology.
The parameter has become indispensable to vehicle manufacturers in the U.S. with the implementation of CAFE standards of new cars. Relentless improvement in tire design and rubber chemistry are offering novel tires that provide tremendous mileage and enhanced performance even in hostile conditions. Unique asymmetrical bands for improved safety and traction on snowy and wet roads are being witnessed.
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Tire design engineers have also tried their hands in non-pneumatic tires which is not expected to go flat as they don’t contain air under pressure. These tires provide lower rolling resistance for superior handling and greater fuel economy given contact area is significant between tread and road. The flexible cover with an impermeable lining is designed to resist the cutting and abrasive wear of road contact and to shield the tire against loss of air puncture.
With rolling resistance requiring accurate instrumentation, speed control, calibration and equipment alignment for repeatable results. Given rolling resistance can consume up to a quarter of the energy needed to drive at highway speeds, it becomes rationale to keep tires inflated.
The use of pneumatic tire is mainly attributed to its unparalleled features such as low vertical stiffness; low resistance; high longitudinal and lateral stiffness and high sliding friction in both wet and dry conditions and resistance to damage and wear such as puncturing and abrasion.
Factors Promoting Automotive Tire Market Growth?
Burgeoning demand for replacement tires is estimated to uphold automotive tire market growth. Vehicle owners especially car owners are seeking to replace conventional tires with high-performance tires offering better durability, safety, and ride comfort. Additionally, the rise of the pervasive trend of experiential traveling is bolstering the demand for tires for off-roading activities.
Rising environmental concerns coupled with extended governmental support for eco-friendly and sustainable manufacturing is influencing the tire production. Original Equipment Manufacturers (OEM) are funneling investments into research and development of sustainable materials and production procedures.
Industry 4.0 or the integration of IoT, data analytics, and other forms of automation is helping automotive tire manufacturers to streamline their production processes while strengthening their distribution network. Development of technologies such as 3D printing and additive manufacturing is aiding manufacturers in boosting tire production at lower costs.
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Automotive Tire Market: Overview
The intelligence report on the automotive tire market is backed up by qualitative and quantitative analysis. Besides, the report delineates the dynamics in the market which have overarching influence in the growth of the automotive tire market, including drivers, restraints, trends, and opportunities. Additionally, the report also delineates segmentation to showcases a comprehensive analysis of the automotive tire market.
The report also shed light on executive summary and overview section, comprehensively delineating automotive tire market. Furthermore, the overview section delves into supply chain analysis, value chain analysis, pricing analysis and PESTLE analysis to shed light on the automotive tire market.
Robust Demand for Radial Tires to Prevail as LCV Sales Burgeon
The multi-layer structure of radial tires consisting of steel chords and steel cable beading impart great strength and durability to the tires which are vital reasons driving the demand for the tires in all vehicle segments. Additionally, the tread of radial tires enable better gripping of surface and substantially reduces rolling resistance which, in turn, provides better safety and contributes substantially to greater fuel efficiency. The assortment of benefits offered by radial tires is being leveraged in the lightweight commercial vehicle (LCV) segment. A significant rise in vehicle rental and sharing services is a key factor propelling LCV sales around the world. Substantial growth in LCV fleets around the world is likely to underpin the growing demand for radial tires.
Leading players operating in the automotive tire market include Bridgestone Corporation, The Yokohama Rubber Co., Ltd., Madras Rubber Factory Limited, Pirelli & C. S.p.A, Apollo Tyres Ltd., and Cheng Shin Rubber Industry Co.
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Automotive Tire Market: Technological Breakthroughs to Aid in Market Proliferation
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