Saudi Arabia Smart Tire Market Is Being Fuelled by Increasing Adoption of Advanced Technology In Vehicles
Rising vehicle safety concern among the people has
driven the demand for smart tire in the market in Saudi Arabia
According to the TechSci
Research report, "Saudi Arabia Smart Tire Market - By Region
Competition Forecast and Opportunities, 2018-2028F", the Saudi Arabia
smart tire market is anticipated to grow at a good rate in the coming year. The
smart tires mean Shape Memory Alloy Radial Technology and was originally
developed by NASA. Nowadays, many tire manufacturing companies are introducing
smart tires for two-wheeler, passenger car, and commercial vehicles, etc. The
advantage of smart tire is that it is made up of NiTinol (Nickel titanium), and
a shape memory alloy with 30x the reversible strain of steel. The presence of
these material in the smart tire, allows it to get back to its original shape,
no matter how it gets stretch or bend it. Smart tires are designed to operate
as a sensor-based monitoring tool among other things, to provide real-time data
on the friction between tires and roads. Additionally, it is reasonable that
intelligent tires need to undergo a major redesign in order to aid drivers in
handling automobiles under varying friction levels, varied weather and surface
conditions of the roads.
Depending on various tire
circumstances, some tires can alter its shape. While the vehicle is moving, it
can adjust its shape to fit the new terrain and then return to its original
shape. The tire, which is a unique item in the ecosystem of vehicle smart tires,
is now in the prototype phase. However, because of how simple it is to match
its shape to navigate in difficult terrains, it can be useful for several
off-road applications.
Additionally, the
"Triple Tube" concept tire from Goodyear is a shape-shifting tire
with three internal tubes that may change the tire's shape based on the road
conditions. In driverless vehicles, these tires can be used to change their
shape at bends and curves for maximum performance and adaptability.
Additionally, the wet safety position of these tires provides resistance to
aquaplaning by expanding the tire's centre chamber, which increases the tire's
diameter and creates a longer, narrower footprint that improves traction.
In
Saudi Arabia, the sales of tire for the year 2021 was around 22.44 million
units. These tire sales include replacement and OEM sales. The passenger car
has the highest market share by 74.55% over the commercial vehicle in terms of
sales of tires in Saudi Arabia. The automotive manufacturers use radial tires
at the time of manufacturing and vehicles in Saudi Arabia comes with
pre-equipped radial tires, due to which radial tires has the highest market
share of 85.84% over the bias tires in Saudi Arabia. In Saudi Arabia medium and
heavy vehicles have the market share of 10.82% in tire sales, in the year 2021.
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The
manufacturing of the automotive tires must be developed by using a variety of
raw materials and energy sources. Tire manufacturers can also use non-renewable
natural resources as they are also among the raw materials, and great tire
production will accelerate their rapid depletion. By use of these energy
sources smart tires can be manufactured, as the replacement rate of smart tire
is less than the standard tires due to less replacement rate waste generate
will also be less at the time of production of smart tires. Another important
energy consumer is the recycling of tires. A longer tire life can also reduce
the number of tires disposed of in landfills or recycled, and it can use less
energy to produce replacement tires.
In the vehicle type segment, passenger
car has the market share over the commercial vehicle. Many tire manufacturing
companies, at the initial phase, are making smart tire for passenger car. The
automotive OEMs have integrated hundreds of sensors due to factors like growing
demand for autonomous and connected vehicles incorporating numerous sensors
including radars, LiDARs, cameras, and ultrasonic sensors and their
corresponding electronic control units (ECUs), in addition to the already
existing sensors delivering data regarding vehicle parameters. The
incorporation of automotive smart tires into vehicles is worrying various
vehicle makers. Furthermore, because the passenger vehicle sector is a
significant source of revenue for tirer-1 component suppliers and tire
producers, the automotive smart tire market is anticipated to face an immediate
threat if these manufacturers reject automotive smart tires.
Some of the major players operating in
the Saudi Arabia Smart Tire Market include:
- Continental AG
- Bridgestone Corporation
- The Michelin Group
- The Goodyear Tire &
Rubber Co
- Pirelli & C. S.p.A
- The Yokohama Rubber Company,
Limited
- Hankook Tire & Technology
Co., Ltd
- Nokian Tyres Plc
- Toyo Tire Corporation
- JK Tyres & Industries Ltd
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“Many companies are
investing in the research and development department, for the innovation and
improvement of smart tire. The investment will help in research and development
of the smart tire for better driving experience and vehicle safety. The
investment by major tire manufacturing companies will help to make smart tire
easily available for the buyers in the market, further helping in driving the Saudi
Arabia Smart Tire Market in the coming years. "said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based global management
consulting firm.
“Saudi Arabia Smart Tire Market By Sensor Type (TPMS,
Accelerometer Sensor, Strain Gauge Sensor, RFID Chip, Other Sensors), By
Engineering Technology (Pneumatic Tire, Run-Flat Tire, Non-Pneumatic Tire), By
Vehicle Type (Commercial Vehicles, Passenger Cars), By Vehicle Propulsion
(Conventional Vehicles, Electric Vehicles), By Distribution Channel (OEM,
Aftermarket), By Product Type (Connected Tire, Intelligent Tire/TPMS) and By
Region, Competition Forecast & Opportunities, 2018-2028F”,
has
evaluated the future growth potential of Saudi Arabia Smart Tire Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the Saudi Arabia Smart Tire Market.
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