The recent market assessment study by Infiniti Research on the competitive landscape of the tire industry helps a leading tire manufacturer for the two and four-wheeler segments enhance their product portfolio.
Recent developments in the tire industry
The dynamic changes in the production and distribution of automotive components are changing the market landscape in the automotive industry. The growing demand for cars, buses, and trucks is boosting the need for new tires in the market. Replacement of old tires and fitment in new vehicles occupies the majority of the demand for tires in the global market. The rise in the use of public transport and growing traction of adventure sports, which involves activities across different terrains such as desert, hill, and mountains has led to an increasing need for frequent tire replacement. The vendors are focusing on launching low-cost, alternative tire options to increase cost saving opportunities and maintain a large market share. The market assessment team at Infiniti analyzes the competitive landscape, market leaders, and vendors in the tire replacement market. The comprehensive study helps companies identify the prominent competitors in the market based on their marketing activities, product portfolio, and new product development.
The stringent regulations and policies designed by the government across several countries are encouraging the manufacturers to launch environmental friendly tires manufactured from recycled resources. The implementation of strict bans on the use of retreaded, regrooved, or recapped tires on the front wheels of buses and trucks is also augmenting the need for new replacement of tires. Such restrictions are promoting the introduction of innovative products that include ultra-fuel efficient, green tires, and new pattern designs such as lugs, blocks, and streamlines ribs.
Introduction of self-inflating tires (SITs)
SITs are tires integrated with a tire pressure monitoring system (TPMS) and a system for air inflation and deflation. These are next-generation technology pre-sets target pressure, air is re-inflated automatically, and the system only alerts the driver about the re-inflation. The system operates automatically without any manual intervention and errors such as ignoring alerts and misunderstanding of the condition are reduced. Moreover, these tires increase the vehicular safety and reduce the probability of tire failure and breakdown from under or over inflations.
Use of innovative technology to produce intelligent tires
Development of intelligent tires helps reduce the wear and tire in harsh environments, such as varying road conditions and extreme temperatures. Some of the groundbreaking technologies available in the market are TPMS, electronic stability control (ESC), and anti-lock braking system (ABS) that provide information on the tire condition. These tires are equipped with sensors that monitors the tires and notifies the users or take automatic control of providing solutions if there are any changes in the tolerance level of these products.
Solutions and recommendations
The team at Infiniti Research provides a thorough market assessment of the prominent leaders in the replacement market and other suppliers prevalent in the target regions. Some of the solutions offered include:
- Produce information on the variety of products offered and the marketing activities to enhance product portfolio
- Assess the latest trends, challenges, and keep a close tab on the research and development activities specific to the replacement tire market
- Highlight the largest demography in the market, their characteristics and focus on the distribution channel of tires from the manufacturing stage to the retail stage at large
- Provide an overview of the market in terms of the pricing, distribution, and size in the target regions
- Analyze the growth inhibitors that primarily affected the market and offer solutions to overcome these challenges
Read our comprehensive case study on how we helped a leading tire manufacturer enhance its product portfolio
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