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India Smart Tires Market By Vehicle Type (Passenger Cars, Commercial Vehicles), By Product Type (Connected Tire, Intelligent Tire/TPMS), By Sensor Type (TPMS, Accelerometer Sensor, Strain Gauge Sensor, RFID Chip, Other Sensors), By Technology (Pneumatic Tire, Run-Flat Tire, Non-Pneumatic Tire), By Vehicle Propulsion (Conventional Vehicles, Electric Vehicles), By Distribution Channel (OEMs, Aftermarket) By Region, Competition, Forecast and Opportunities, 2029

September 2023 | 88 pages | ID: IB37669D878CEN
TechSci Research

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India Smart Tires Market is expected to experience significant growth in the coming years. The rising demand of electric vehicles is also leading to the rise in the demand of smart tires by the auto manufacturers. Overall, the Indian Smart Tire Market is poised for substantial growth, driven by increasing vehicle sales, safety concerns, government regulations, and technological advancements. The integration of smart tire technologies is expected to enhance vehicle performance, safety, and efficiency, making them a key component of the future automotive ecosystem in India.

Smart tires are equipped with sensors and other technologies that allow for real-time monitoring of tire pressure, temperature, and other important factors. These features provide drivers with more information about their tires' performance, leading to improved safety, fuel efficiency, and overall vehicle performance. The automotive smart tires also sense the road condition and terrain adaptability for least wear and tear of tires. The different manufacturers are providing multiple features in their smart tire series. With the popularity of connected and autonomous cars, technology has advanced across every aspect of the automobile. Automotive tires, which offer real-time data on pressure and temperature, tread wear and depth, road conditions, load detection, and other characteristics, are now focusing on the complexity of vehicle management systems.

India is one of the largest automotive markets globally, with a growing number of vehicle sales the market is growing rapidly and in the forecast years the industry is expected to generate new opportunity for the India Smart Tire Market. This surge in vehicle ownership is driving the demand for advanced technologies like smart tires, the Indian government has implemented regulations mandating the use of TPMS in new vehicles, which further boosts the adoption of smart tires.

Improved Safety and Fuel Efficiency

Smart tires are equipped with sensors and other technologies that allow for real-time monitoring of tire pressure, temperature, and other important factors. This provides drivers with more information about their tires' performance, leading to improved safety, fuel efficiency, and overall vehicle performance. Smart tires can help reduce the risk of accidents caused by tire blowouts or other issues. As consumers become more aware of the benefits of smart tires, they are more likely to opt for these tires over traditional ones. The rise of e-commerce platforms in India is creating new opportunities for tire manufacturers to expand their reach and increase sales.

Online channels allow manufacturers to reach a wider audience, especially in rural areas where physical stores may not be present. E-commerce platforms are providing more options to consumers, who can easily compare and purchase products online. Tire manufacturers are leveraging digital marketing strategies to promote their smart tire products and increase sales. Integration with AI and IoT technologies will likely enhance the capabilities of smart tires with features like predictive maintenance, real-time road condition analysis, and improved driver assistance systems. Smart tires offer real-time monitoring of tire pressure, temperature, and tread wear, ensuring optimal performance and safety. Improved fuel efficiency and reduced maintenance costs are additional benefits.

Technological Advancements

With advancements in technology, smart tires are becoming more affordable and accessible to consumers. Manufacturers are investing in research and development to improve the performance and functionality of their smart tire products. This is expected to drive demand for these tires, as consumers look for tires that provide better performance, safety, and comfort. For example, some smart tires are equipped with technologies such as self-sealing puncture protection, run-flat capabilities, and adaptive tread patterns, which can help improve the overall driving experience for consumers. All such technological developments are connecting drivers with the tire conditions in a better way. The established players operating in the tire industry in the country are developing such smart tires technology.

High Cost and Limited Infrastructure

Smart tires are typically more expensive than traditional tires due to the sensors and other advanced technologies that are built into them. This can be a significant barrier to adoption, especially for price-sensitive consumers in India. While the cost of smart tires is expected to lower over time as technology improves and economies of scale can be achieved. Smart tires require advanced infrastructure to support their use, such as sensors and data processing systems. However, the infrastructure for this is still in its early stages in India, which can limit the adoption of smart tires. Without the necessary infrastructure in place, smart tire technology may not be as effective or efficient as intended, which can limit their appeal to consumers.

The rising middle-class population in India is driving demand for passenger cars, which is expected to continue in the coming years. According to a report by the International Energy Agency (IEA), India is expected to become the world's third-largest car market by 2025. As the middle-class population grows and becomes more affluent, they are likely to seek out vehicles with better safety, comfort, and performance features. This is expected to drive demand for smart tires, as they offer benefits such as real-time monitoring, improved fuel efficiency, and better traction.

The Indian government has introduced various initiatives to promote the adoption of electric vehicles (EVs) in the country, which is driving the demand for smart tires. Smart tires can help improve the efficiency and performance of EVs, which is critical to their success in the Indian market. The National Electric Mobility Mission Plan (NEMMP) aims to promote the development and manufacturing of electric and hybrid vehicles in the country, with a target of achieving 6-7 million sales of hybrid and electric vehicles by 2020. The Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme offers incentives to manufacturers and buyers of EVs, including smart electric vehicles. These initiatives are expected to drive the demand for smart tires in India.

Market Segmentation

The India Smart Tires Market is segmented based on vehicle type, product type, sensor type, technology, , vehicle propulsion, distribution channel, and region. Based on Vehicle Type the market is segmented into Passenger Cars and Commercial Vehicles. Based on product type, the market is segmented into connected tire, intelligent tire/TPMS. Based on sensor type, the market is segmented into TPMS, accelerometer sensor, strain gauge sensor, RFID chip, and other sensors. Based on technology, the market is segmented into pneumatic tire, run-flat tire, non-pneumatic tire. By vehicle propulsion, the market is segmented into conventional vehicles and electric vehicles. By distribution channel, the market is segmented into OEMs and aftermarket. By region the market is segmented into North, West, South and East.

Company Profiles

JK Tyre and Industries, Bridgestone Corporation, Balakrishna Industries Limited, Continental India Ltd., Michelin Group, Pirelli & C SpA, Apollo Tyres Limited, Goodyear Tire & Rubber Company, Yokohama Rubber Company Limited, and MRF Limited.

Report Scope:

In this report, India Smart Tires Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
  • India Smart Tires Market, By Vehicle Type:
    • Passenger Cars
    • Commercial Vehicles
  • India Smart Tires Market, By Product Type:
    • Connected Tire
    • Intelligent Tire/TPMS
  • India Smart Tires Market, By Sensor Type:
    • TPMS
    • Accelerometer Sensor
    • Strain Gauge Sensor
    • RFID Chip
    • Other Sensors
  • India Smart Tires Market, By Technology:
    • Pneumatic Tire
    • Run-Flat Tire
    • Non-Pneumatic Tire
  • India Smart Tires Market, By Vehicle Propulsion:
    • Conventional Vehicles
    • Electric Vehicles
  • India Smart Tires Market, By Distribution Channel:
    • OEM
    • Aftermarket
  • India Smart Tires Market, By Region:
    • East India
    • West India
    • North India
    • South India
Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India Smart Tires Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information
  • Detailed analysis and profiling of additional market players (up to five).
1. INTRODUCTION

1.1. Product Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered

2. RESEARCH METHODOLOGY

2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations

3. EXECUTIVE SUMMARY

3.1. Market Overview
3.2. Market Forecast
3.3. Key Regions
3.4. Key Segments

4. IMPACT OF COVID-19 ON INDIA SMART TIRES MARKET

4.1. Key Segments Impacted
4.2. Key Regions Impacted

5. VOICE OF CUSTOMER

5.1. Factors Influencing Purchase Decision
5.2. Brand Awareness
5.3. Challenges/Issues Faced Post Purchase

6. INDIA SMART TIRES MARKET OUTLOOK

6.1. Market Size & Forecast
  6.1.1. By Volume
  6.1.2. By Value
6.2. Market Share & Forecast
  6.2.1. By Vehicle Type Market Share Analysis (Passenger Cars and Commercial Vehicles)
  6.2.2. By Product Type Market Share Analysis (Connected Tire, Intelligent Tire/TPMS)
  6.2.3. By Sensor Type Market Share Analysis (TPMS, Accelerometer Sensor, Strain Gauge Sensor, RFID Chip, and Other Sensors)
  6.2.4. By Technology Market Share Analysis (Pneumatic Tire, Run-Flat Tire, Non-Pneumatic Tire)
  6.2.5. By Vehicle Propulsion Market Share Analysis (Conventional Vehicles and Electric Vehicles)
  6.2.6. By Distribution Channel Market Share Analysis (OEMs and Aftermarket)
  6.2.7. By Regional Market Share Analysis
    6.2.7.1. North Market Share Analysis
    6.2.7.2. West Market Share Analysis
    6.2.7.3. South Market Share Analysis
    6.2.7.4. East Market Share Analysis
  6.2.8. By Company Market Share Analysis (Top 5 Companies, Others - By Value, 2023)
6.3. India Smart Tires Market Mapping & Opportunity Assessment
  6.3.1. By Vehicle Type Market Mapping & Opportunity Assessment
  6.3.2. By Product Type Market Mapping & Opportunity Assessment
  6.3.3. By Sensor Type Market Mapping & Opportunity Assessment
  6.3.4. By Technology Market Mapping & Opportunity Assessment
  6.3.5. By Vehicle Propulsion Market Mapping & Opportunity Assessment
  6.3.6. By Distribution Channel Market Mapping & Opportunity Assessment
  6.3.7. By Regional Market Mapping & Opportunity Assessment

7. NORTH INDIA SMART TIRES MARKET OUTLOOK

7.1. Market Size & Forecast
  7.1.1. By Volume
  7.1.2. By Value
7.2. Market Share & Forecast
  7.2.1. By Vehicle Type Market Share Analysis
  7.2.2. By Product Type Market Share Analysis
  7.2.3. By Sensor Type Market Share Analysis
  7.2.4. By Technology Market Share Analysis
  7.2.5. By Vehicle Propulsion Market Share Analysis
  7.2.6. By Distribution Channel Market Share Analysis

8. WEST INDIA SMART TIRES MARKET OUTLOOK

8.1. Market Size & Forecast
  8.1.1. By Volume
  8.1.2. By Value
8.2. Market Share & Forecast
  8.2.1. By Vehicle Type Market Share Analysis
  8.2.2. By Product Type Market Share Analysis
  8.2.3. By Sensor Type Market Share Analysis
  8.2.4. By Technology Market Share Analysis
  8.2.5. By Vehicle Propulsion Market Share Analysis
  8.2.6. By Distribution Channel Market Share Analysis

9. SOUTH INDIA SMART TIRES MARKET OUTLOOK

9.1. Market Size & Forecast
  9.1.1. By Volume
  9.1.2. By Value
9.2. Market Share & Forecast
  9.2.1. By Vehicle Type Market Share Analysis
  9.2.2. By Product Type Market Share Analysis
  9.2.3. By Sensor Type Market Share Analysis
  9.2.4. By Technology Market Share Analysis
  9.2.5. By Vehicle Propulsion Market Share Analysis
  9.2.6. By Distribution Channel Market Share Analysis

10. EAST INDIA SMART TIRES MARKET OUTLOOK

10.1. Market Size & Forecast
  10.1.1. By Volume
  10.1.2. By Value
10.2. Market Share & Forecast
  10.2.1. By Vehicle Type Market Share Analysis
  10.2.2. By Product Type Market Share Analysis
  10.2.3. By Sensor Type Market Share Analysis
  10.2.4. By Technology Market Share Analysis
  10.2.5. By Vehicle Propulsion Market Share Analysis
  10.2.6. By Distribution Channel Market Share Analysis

11. MARKET DYNAMICS

11.1. Market Drivers
11.2. Market Challenges

12. MARKET TRENDS & DEVELOPMENTS


13. SWOT ANALYSIS

13.1. Strength
13.2. Weakness
13.3. Opportunities
13.4. Threats

14. PORTER’S FIVE FORCES MODEL

14.1. Competitive Rivalry
14.2. Bargaining Power of Suppliers
14.3. Bargaining Power of Buyers
14.4. Threat of New Entrants
14.5. Threat of Substitutes

15. POLICY & REGULATORY LANDSCAPE


16. INDIA ECONOMIC PROFILE


17. COMPETITIVE LANDSCAPE

17.1. Company Profiles (Up To 10 Major Companies)
  17.1.1. JK Tyre and Industries
    17.1.1.1. Company Details
    17.1.1.2. Key Products Offered
    17.1.1.3. Recent Development
    17.1.1.4. Key Management Personnel
  17.1.2. Bridgestone Corporation
    17.1.2.1. Company Details
    17.1.2.2. Key Products Offered
    17.1.2.3. Recent Development
    17.1.2.4. Key Management Personnel
  17.1.3. Balakrishna Industries Limited
    17.1.3.1. Company Details
    17.1.3.2. Key Products Offered
    17.1.3.3. Recent Development
    17.1.3.4. Key Management Personnel
  17.1.4. Continental AG
    17.1.4.1. Company Details
    17.1.4.2. Key Products Offered
    17.1.4.3. Recent Development
    17.1.4.4. Key Management Personnel
  17.1.5. Michelin Group
    17.1.5.1. Company Details
    17.1.5.2. Key Products Offered
    17.1.5.3. Recent Development
    17.1.5.4. Key Management Personnel
  17.1.6. Pirelli & C SpA
    17.1.6.1. Company Details
    17.1.6.2. Key Products Offered
    17.1.6.3. Recent Development
    17.1.6.4. Key Management Personnel
  17.1.7. Apollo Tyres Limited
    17.1.7.1. Company Details
    17.1.7.2. Key Products Offered
    17.1.7.3. Recent Development
    17.1.7.4. Key Management Personnel
  17.1.8. Goodyear Tire & Rubber Company
    17.1.8.1. Company Details
    17.1.8.2. Key Products Offered
    17.1.8.3. Recent Development
    17.1.8.4. Key Management Personnel
  17.1.9. Yokohama Rubber Company Limited
    17.1.9.1. Company Details
    17.1.9.2. Key Products Offered
    17.1.9.3. Recent Development
    17.1.9.4. Key Management Personnel
  17.1.10. MRF Limited.
    17.1.10.1. Company Details
    17.1.10.2. Key Products Offered
    17.1.10.3. Recent Development
    17.1.10.4. Key Management Personnel

18. STRATEGIC RECOMMENDATIONS

18.1. Key Focus Areas
  18.1.1. Target Regions
  18.1.2. Target Vehicle Type
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