Green Tire Market By Type (On- road tires, Off- road tires), By Application (Passenger Cars, Commercial Vehicle), By Tire Size (15 inch, 16 inch, 17 inch, 18 inch), By Sales Channel (OEM, Aftermarket): Global Opportunity Analysis and Industry Forecast, 2021-2031
The report incorporates the study of the global green tire market that focuses on the strategy used to reduce high levels of pollution and are sourced from unsustainable resources. This is usually done with environment-friendly rubber that supports in reducing the energy lost during the friction between a rolling surface and the tires. The goal of green tire is to reduce carbon dioxide emission levels directly affected by vehicles fuel consumption. Fuel consumption can be improved by the production of streamlined low rolling resistance tires. These tires cause less friction between the tire and the road allowing the vehicle to use less energy (fuel) to propel the vehicle forward. Modifications in the key design of tires have taken years of research and development. However, the rise in prices of fuel, low rolling resistance, increase in urbanization & globalization, environmental awareness, and surge in fuel consumption are projected to further boost the market growth in future. Also, in the tire industry, manufacturers have raised prices multiple times in response. Rise in electric car sales have been cited as a key element driving the demand for green tires. These green tires provide 20% less low rolling resistance, increasing total vehicle efficiency.
The factors such as government regulation & economic drivers, increase fuel efficiency, and reduce rolling resistance supplement the growth of the green tire market. However, lack of awareness about green tire and structural limitation is projected to impede future adoption. In addition, adoption of eco-friendly tire industry and technological advancement in automotive sector creates market opportunities for the key players operating in the green tire market.
For the purpose of analysis, the green tire market is segmented on the basis of type, application, size, sales channel, and region. By type, the market is divided into on-road tires and off-road tires. By application, it is fragmented into passenger car and commercial vehicles. By size, it is categorized into 15 inches, 16 inches, 17 inches and 18 inches. By sales channel, it is further classified into OEM and aftermarket. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The leading players operating in the green tire market are MICHELIN, Continental AG, Bridgestone Corporation, Pirelli & C. S.p.A, The Goodyear Tire & Rubber Company, Hankook Tire & Technology, The Yokohama Rubber Co. Ltd., Petlas, Kumho Tire, and MRF.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the green tire market analysis from 2021 to 2031 to identify the prevailing green tire market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the green tire market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global green tire market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
On- road tires
Off- road tires
By Application
Passenger Cars
Commercial Vehicle
By Tire Size
15 inch
16 inch
17 inch
18 inch
By Sales Channel
OEM
Aftermarket
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Continental AG
BRIDGESTONE CORPORATION
Pirelli & C. S.p.A
HANKOOK TIRE & TECHNOLOGY
THE YOKOHAMA RUBBER CO., LTD.
PETLAS
KUMHO TIRE
MICHELIN
THE GOODYEAR TIRE & RUBBER COMPANY
MRF
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