Report Description


Forecast Period

2025-2029

Market Size (2023)

USD 0.12 Million

CAGR (2024-2029)

14.60%

Fastest Growing Segment

Passenger Cars

Largest Market

North

 

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.

Recent Developments

  • The Indian government has been actively promoting the use of smart tires in the country, with various initiatives such as the introduction of the National Electric Mobility Mission Plan (NEMMP) and the Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme. These initiatives aim to increase the adoption of electric vehicles, which will drive the demand for smart tires.
  • JK Tire has planned to introduce sensor-based smart tires for trucks as well and the company has also promised to enhance the life of tires by at least 10 per cent. Earlier
  • The company has introduced Smart Tire’ technology that Monitors real-time tire pressure and temperature in India. Additionally, the growing middle class in India, with increased purchasing power, is leading to a rise in demand for passenger cars, which will contribute to the growth of the Smart Tires Market. Furthermore, the rise of e-commerce platforms in the country is creating opportunities for tire manufacturers to expand their reach and increase sales.
  • The smart tire market in India is still in its nascent stage but has immense potential for growth. Several domestic and international tire manufacturers have introduced smart tire technologies in the Indian market. These tires offer various features like real-time tire pressure monitoring, tread wear detection, temperature sensing, and other data collection capabilities. The Indian smart tire market is experiencing significant growth and technological advancements in recent years. Smart tires, also known as connected tires, are equipped with sensors and integrated technologies that provide real-time data and enhance the performance, safety, and efficiency of vehicles. Here is an overview of the India smart tire market, including its status, key players, market drivers, and prospects.

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.