Global Electric Vehicle Replacement Tire Market 2022-2027

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    GLOBAL ELECTRIC VEHICLE REPLACEMENT TIRE MARKET

     

    INTRODUCTION

    Replacement tyres are those purchased to replace the original equipment tyres. These are also referred to as aftermarket tires. OE tires include limits such as off-road riding, topographical excursions, and so on that aftermarket tires readily overcome.

     

    You may need to change the OE tires due to tire damage, wear, and tear, and so on. Most individuals who already are pleased with the performance of OE tyres choose these again when it comes better to replace tires.

     

    OE tyres, but on the other hand, do not deliver the driving pleasure that other high-quality tyres can. A fresh pair of replacement tyres is preferable than bald OE tyres with shaky grips, which cause sliding in wet road conditions.

     

    When users are in such a scenario, they are aware that it is just not normal. The tread life of OE tires is comparatively fickle. Treads reduce friction in the tyres and provide better traction on damp and off-road surfaces.

     

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    Depending on the vehicle, the carmaker may prioritise one component of tyre efficiency while purchasing an OE tyre. Tires having low friction coefficient may be selected for hybrids as well as other cars that are focused on great fuel efficiency at the price of extreme high-performance handling.

     

    The issue with OE tires arises whenever the treads begin to wear down faster than substitute tires. If users trust the performance of the OE tire brand, purchase of substitute tires can be done from them. It is preferable to substitute a set of tires rather than a single tyre. By replacing one tyre, you are mismatching the vehicle’s quality performance.

     

     

    GLOBAL ELECTRIC VEHICLE REPLACEMENT TIRE MARKET DEVELOPMENTS AND INNOVATIONS

    S No Overview of Development Development Detailing Region of Development Possible Future Outcomes
    1 Goodyear unveils its first EV replacement tire: the Electric Drive GT Marking Goodyear’s first replacement tire in North America tuned for electric vehicles (EVs), the Goodyear Electric Drive GT is an ultra-high performance, all-season tire that delivers long-lasting treadwear and a quiet ride for EV drivers and passengers. Global Scale This would enhance better Technologies and production

     

    GLOBAL ELECTRIC VEHICLE REPLACEMENT TIRE MARKET DYNAMICS

    Furthermore, the expanding disposable income level of the country’s middle-class demographic has greatly augmented the demand for automotive components over centuries, culminating in fleet capacity development, leading to an increase in demand for replacement tyres.

     

    As a result of automakers like BMW AG and Volkswagen Group establishing manufacturing operations in this area, Asia-Pacific has emerged as a hub for automobile production.

     

    The importance of Passenger Vehicle Replacement Tires in the automotive sector is expanding year after year, owing to increased vehicle manufacturing. Passenger Vehicle Replacement Tire suppliers continue to prioritise growing Asia Pacific, the Middle East, and Latin America.

     

    Increased disposable incomes, together with urbanized population expansion, continue to be the fundamental drivers of the global Passenger Vehicle Replacement Tire market size.

     

    Low manufacturing costs, the abundance of cheap labour, lax emissions and safety requirements, and governmental measures to encourage FDIs has led to major expenditure in Asia Pacific, which is boosting the market in this region.

     

    Due to increased internet usage and online sales of goods, e-commerce enterprises are exhibiting signs of development. The need for tyre retreading is expanding at a rapid pace.

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    Tire retreading greatly reduces operating costs in the aftermarket since it avoids total tyre replacements and is thus a cost-effective choice. The casings can contribute to several development cycles, yielding considerable cost savings, particularly for commercial fleet operators.

     

    Rapid infrastructure development in developing economies, particularly India and China, has resulted in an increase in commercial truck and industrial auto sales. Automobile manufacturers may make significant money from the replacement and aftermarket tyre industry.

     

     

    GLOBAL ELECTRIC VEHICLE REPLACEMENT TIRE MARKET SEGMENTATION

    The Global Electric Vehicle Replacement Tire Market can be segmented into following categories for further analysis.

    By Application

    • Entry Level Vehicles
    • Mid-Level Vehicles
    • Luxury Class Vehicles

     

    By Product Type

    • Radial Tires
    • Bias Tires

     

    By Technology Focus Type

    • Passenger Cars
    • LCV
    • Medium and Heavy CV

     

    By Sales Channel Type

    • Offline Sales
    • Online Sales
    • Hybrid Sales

     

    By Architecture Type

    • Hybrid Propulsion Vehicle
    • BEV
    • PHEV

     

    By Regional Classification

    • Asia Pacific Region – APAC
    • Middle East and Gulf Region
    • Africa Region
    • North America Region
    • Europe Region
    • Latin America and Caribbean Region

     

    RECENT TECHNOLOGICAL TRENDS IN GLOBAL ELECTRIC VEHICLE REPLACEMENT TIRE MARKET

    Customized replacement tyres are engineered to provide all-around performance on any vehicle for which they are sized and rated.

     

    They frequently place a premium solely on a single or more performance requirements that  has been revealed as being very relevant to end-user motorists such as Tread Life, Traction or Ride Comfort, for example.

     

    This allows the user to tailor the car with his or their own demands and driving patterns. For instance, users may choose stronger performance-oriented tyres that emphasize on the manoeuvring characteristics.

     

    It focuses on the sports and performance automobiles, or user could use all-terrain tyres to assist your truck or SUV navigate through the mud and muck.

     

    The RTM (Replacement Tire Monitor) alerts the user that whenever a tire is deteriorated and needs to be changed. Replacement Tires Monitoring appears three times upon that circumferential rib of the replacement tyre.

     

    The inscription automatically changed to Replace Tyre just before the tread hits the minimum tread depth suggested by the Tread Wear Indicator indicators. In addition, the Visual Alignment Indicator enables the customers to evaluate tire misalignment to minimise uneven rolling resistance.

     

    The VAI is represented three times around the circle of the tyre by two extra sipes (1.6mm tread depth) upon that tyre’s opposing shoulders sections. If the VAI sipes worn off unevenly on one side more than the other, for instance.

     

    Alongside this, the Contact Area Information Sensing system comprises an internal tyre sensor which measures the tire’s interface with both the pavement surface. It improves motorist protection through warning them of changing road surface conditions.

     

    COMPETITIVE LANDSCAPE

    The need for high-quality yet durable tyres drove automakers and end users to prefer goods from well-known producers ahead of those from smaller independent businesses.

     

    Additionally, these major firms have significantly expanded their R&D investment in order to merge innovation with performance excellence. To get an advantage over their competition, major firms in the region are releasing new tires. Automobile manufacturers may make significant money from the replacement and aftermarket tyre industry.

     

    Goodyear Tires is one of the global scale developers of the tire technologies focusing on the EV based applications in the market. It has most recently brought in the EV focused replacement tires.

     

    ElectricDrive GT is an ultra-high performance, all-season tyre that provides EV riders and drivers with long-lasting treadwear and a peaceful ride. They have indeed been investing in the development based purely on the fact that electric motors have extremely precise criteria for load, torque, noise, range, friction coefficient, and overall efficiency.

     

    The ElectricDrive GT includes Goodyear’s Sound Comfort Technologies, which functions as a built-in sound barrier, reducing street noise.

     

    It also has asymmetrical treaded tires and a specific tread composition to give increased all-season grip, providing EV drivers confidence in both wet and dry road conditions. Goodyear intends to extend the ElectricDrive product line in 2022, with the inaugural release of the Goodyear ElectricDrive GT in size 255/45R19 104W XL.

     

    Michelin Tires is also a focused developer of the tire technologies in the EV replacement tires segment of operation. Compounds for Electric Grip.

     

    Influenced by Michelin’s Formula E tyre programming experience, the central section of the treads employs a standard structural rubber composition, offering maximum grip for efficient EV acceleration and braking.

     

    The Construction optimises the tire’s interaction with both the roadway and uniformly distributes the forces of acceleration, braking, and cornering to provide extended tread longevity without sacrificing performance.

     

    Notwithstanding the larger weight of excellent performance Electric Cars, the high efficiency rubber compound on the shoulders decreases power consumption for greater distances and offers long-lasting endurance.

     

    Thinner top belts require less energy and material while maintaining strength, reducing raw material consumption, and improving frictional resistance.

     

    The Replacement tires series of Pilot Sport EV is also integrated with The specially designed polyurethane foam solution muffles noise reverberation, allowing drivers and riders to completely utilise hands-free communication systems despite reducing driver fatigue on extended rides. Whenever traveling on shifting road conditions, acoustic technology even dampens interior noises.

     

    COMPANIES PROFILED

     

    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in theIndustry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2022-2027
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2022-2027
    19 Market Segmentation, Dynamics and Forecast by Application, 2022-2027
    20 Market Segmentation, Dynamics and Forecast by End use, 2022-2027
    21 Product installation rate by OEM, 2022
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2022
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix

     

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