How Is the India Smart Tyre Market Shaping Up for 2030?

The India Smart Tyre Market is on an impressive growth trajectory, poised to reach USD 243 million by 2030 with a robust CAGR of 14.5% from 2022 to 2030. This dynamic sector is driven by increasing demand for real-time baggage tracking systems in the airline industry, and smart RFID technology is at the forefront of this transformation. Smart Tyres, equipped with IoT sensors, provide enhanced performance by adapting to road conditions like snow, rain, and sand, and alerting drivers when maintenance is needed.

What sets Smart Tyres apart is their ability to integrate advanced technologies to improve driving safety and vehicle management. They feature sensors that not only optimize tyre pressure but also provide real-time alerts on tyre conditions, which is becoming increasingly crucial in the autonomous driving landscape. Major investments in autonomous vehicle technology in India, with over USD 50 billion invested, are expected to further boost this market.

However, the market faces challenges such as volatile raw material prices, including rubber and petroleum-based components, which significantly impact the cost of production. The COVID-19 pandemic has also disrupted manufacturing and delayed the rollout of new technologies, though the market is gradually recovering.

The India Smart Tyre Market is segmented by technology into Pneumatic and Non-Pneumatic Tyres, with Pneumatic Tyres leading the market. Passenger vehicles dominate the vehicle type segment, while OEMs hold a significant share in distribution channels.

For an in-depth look at the trends and opportunities in this growing market, visit the India Smart Tyre Market page. Discover how companies like Continental, Bridgestone, and Michelin are innovating and what the future holds for smart tyres in India.