In 2017 the global tire industry was estimated to be worth $222.9 billion, and with topline volume growth expected to continue at 3.4% CAGR to 2022, the tire market is in a healthy position.
However, as electric shared and autonomous vehicles are now increasingly the main focuses of the automotive industry, future tire development will be impacted. These changes could completely change tire requirements and tire industry business models.
Change is coming
How will electric vehicles affect the tire industry?
Electric vehicles are expected to have significant implications on tire design, as tires will need to adapt to the different characteristics of EVs, such as higher weight and higher torque. This creates new challenges for tire performance, and will likely require that more differentiated tires be developed.
At Tomorrow's Tire 2019, industry experts will share their insights on this topic:
- EVs requirements on tire performance - Jimi Han, NIO
- Effect of tire air retention on electric vehicles - Jessie Yu, ExxonMobil
How will autonomous vehicles affect tire design and development?
With autonomous driving, tires that are an integrated part of the connected vehicle will be critical and could be a weak link in the chain of hardware. AVs are expected to have a huge impact on the way that tires are made, sold and distributed for these types of vehicles, so the development of tires for AVs is crucial.
Experts from Ford China, Geely Research and Engineering Center, Qingdao Xunmao Intelligent Tire Technology, FAW and Jilin University will take part in an interactive panel that will cover the development of autonomous vehicles and how it will impact tire performance requirements at Tomorrow's Tire 2019.
Electric vehicles, shared mobility and
autonomous driving are expected to have huge
impacts on the way that tires are designed,
developed and distributed.
How will the rise in shared mobility affect tires?
The expected increase in ride sharing is also likely to have an impact on the tire industry, as it will affect the way that vehicles are owned and therefore also affect how replacement tires are chosen and purchased. Shared mobility is also likely to cause vehicles to be used more intensively than with owned cars, so tires could have a shorter lifecycle. These effects are likely to be felt in tire retail, distribution and development.
Ciaran Little, Director of Operations - Asia at Smithers, will discuss the future outlook for mobility and the impact on tires in greater detail at Tomorrow's Tire 2019.
With such huge changes expected in the tire industry in the near future, can you afford to miss out on hearing directly from leading experts in the field on how these changes could affect you?
Join Goodyear, Bridgestone, Ford, FCA Group, Continental, Sichuan Tire, Saliun Tire, Dealer Tire, Giti Tire, SAIC-Motor, Michelin, Linglong Tire, Changan, Yokohoma Tire and many more at Tomorrow's Tire Summit 2019 in Shanghai on 13-14 November 2019.
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