Automotive Green Tires Market by Product (Bias Tire, Radial Tire), Vehicle (Commercial Vehicles, Passenger Vehicles), Sales Channel, Application - Global Forecast 2024-2030

Automotive Green Tires Market by Product (Bias Tire, Radial Tire), Vehicle (Commercial Vehicles, Passenger Vehicles), Sales Channel, Application - Global Forecast 2024-2030

The Automotive Green Tires Market size was estimated at USD 14.06 billion in 2023 and expected to reach USD 14.85 billion in 2024, at a CAGR 6.41% to reach USD 21.73 billion by 2030.

Automotive green tires, often referred to as green or eco-friendly tires, are a type of tire created with an emphasis on environmental sustainability and improved fuel efficiency. These tires incorporate various features and technologies aimed at reducing their environmental impact and enhancing the overall efficiency of vehicles. These tires have several critical properties, including lightweight, low rolling resistance, low CO2 emissions and fuel consumption, extended life, and good durability, making them suited for off-road use. Green tires may also incorporate noise-reduction technologies to enhance driving comfort while minimizing noise pollution. Green tires help automakers meet stricter regulatory standards for vehicle emissions and fuel efficiency, making them essential to achieving environmental goals.

The major factor influencing the growth of the automotive green tires market is the rising sales of passenger vehicles and increasing fuel efficiency, increasing government initiatives for a clean and green environment, and rapidly growing adoption of airless tires worldwide. On the other hand, the huge cost associated with automotive green tires and the lack of awareness about automotive green tires in emerging economies hinder the market growth. However, ongoing research and development initiatives to create novel green tires and increasing focus on renewable raw materials to manufacture eco-friendly tires create an opportunity for the automotive green tire market to grow in the coming years.

Regional Insights

Automotive green tires, designed to reduce rolling resistance and improve fuel efficiency, are gaining significant traction worldwide. The automotive green tires market is developing in the Americas with the growing initiatives towards eco-friendly and sustainable practices. Consumers are becoming more environmentally conscious, increasing interest in green tires. Environmental regulations and emissions standards in some American countries are pushing to adopt fuel-efficient and low-rolling-resistance tires to reduce vehicle carbon emissions. The APAC region, particularly China and India, is experiencing significant growth in the automotive green tires market with the increasing number of vehicles on the road and a growing awareness of environmental concerns. Developing the electric vehicle market in countries, including China drives demand for specialized tires designed for EVs. These tires often have unique requirements to maximize the range of electric vehicles. The automotive green tires market in the EMEA region is supported by stringent environmental regulations and emissions standards, leading to the adoption of green tires as automakers seek to reduce the carbon footprint of their vehicles. Moreover, rising fuel prices in Europe and the need to reduce fuel consumption drive demand for tires with lower rolling resistance, which enhances fuel efficiency.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Automotive Green Tires Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Rising sales of the passenger vehicles and increasing fuel efficiency of vehicles
• Government initiatives for green and clean environment
• Rapidly increasing adoption of airless tires worldwide

Market Restraints

• Huge cost associated with automotive green tires

Market Opportunities

• Ongoing research and development initiatives to create novel green tires
• Increasing focus on renewable raw materials to manufacture eco-friendly tires

Market Challenges

• Lack of awareness about automotive green tires in emerging economies

Market Segmentation Analysis

• Product: Growing adoption of automotive green tires for construction vehicles, agricultural equipment, and off-road use
• Vehicle: Growing focus on on reducing ecological footprint among consumers
• Sales Channel: Increasing focus on fuel efficiency, environmental concerns, and safety performance in automotive industry
• Application: Growing emphasis on reducing CO2 emissions through sustainable manufacturing processes in automotive industry

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Automotive Green Tires Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Automotive Green Tires Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Continental is the First Manufacturer to Launch Series Tire With a Very High Share of Sustainable Materials

Continental unveiled the UltraContact NXT, its latest and most sustainable tire series in the context of automotive green tires. This groundbreaking tire incorporates a combination of renewable, recycled, and mass balance certified materials, with up to 65% content sourced from these sustainable options. Notably, all 19 available sizes of the UltraContact NXT tire boast the highest EU tire label rating (A) in rolling resistance, wet braking, and exterior noise. The UltraContact NXT features an impressive composition of up to 32% renewable materials, including resins derived from residuals of the paper and wood industries.

Bridgestone and ENEOS Launch Joint Project Focused on Producing Tire Raw Materials from Used Tires

Bridgestone Corporation and ENEOS Corporation have recently announced a collaborative research and development project. The aim of this project is to achieve the social implementation of chemical recycling technologies. These innovative technologies enable precise pyrolysis of used tires. The shared sustainability vision of both companies motivates this joint initiative. The project combines Bridgestone's advanced rubber and polymer material design technologies with ENEOS's crude oil refining technologies and foundational basic chemical product manufacturing technologies.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Automotive Green Tires Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Automotive Green Tires Market, highlighting leading vendors and their innovative profiles. These include Apollo Tyres Limited, Bridgestone Corporation, CEAT Limited, Continental AG, Goodyear Tire & Rubber Company, JK Tyre, Kumho Tire, Linglong Group, Maxxis International, Michelin Group, MRF Limited, Nokian Tires, Pirelli & C. Spa, Sailun Group, Toyo Tire Corporation, Yokohama Tire Corporation, and ZC Rubber.

Market Segmentation & Coverage

This research report categorizes the Automotive Green Tires Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Product
• Bias Tire
• Radial Tire
• Vehicle
• Commercial Vehicles
• Passenger Vehicles
• Sales Channel
• Aftermarket
• Original Equipment Manufacturer
• Application
• Off-Road
• On-Road

Region

• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year