Green Tires Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Green Tires Market
The green tires market size was valued at USD 24.79 billion in 2019, and the market is now projected to grow from USD 44.5 billion by 2032, exhibiting a CAGR of 5.0% during the forecast period of 2020-2027.
The COVID-19 pandemic has affected the green tires market as it affects the overall economy of the world. Long-term lockdowns and cutting down the expenses on vehicles have lowered the rate of automotive industries significantly. Fluctuating raw materials prices and interrupted supply chains have also affected production capabilities. Industries are prioritizing loss recovery over research and development investments, slowing green tires market growth. These factors collectively hinder the market during the pandemic.
Tough standards have been developed by the government to control emissions, automotive tires are the major point of control for pollution. Currently, the EU tire label ‘Tire Energy Label’ categorizes tires from A to G depending on their fuel efficiency, noise on wet surfaces and braking distance of wet tires over one hundred meters. 'A' category tires offer 7.5% better fuel efficiency and superior wet-surface braking than 'G'. These standards guide consumers toward eco-friendly and safer options. Such regulations drive the adoption of green tires market share, promoting environmental sustainability.
Further, the use of the airless tire is on the rise since it is environmentally friendly and has advanced technology. These tires, made with metal composite spokes, offer improved load capacity, better-driving performance and reduced carbon emissions by lowering rolling resistance. Consumers prefer airless tires for their durability, easy puncture repair and elimination of spare tire requirements. Leading manufacturers are innovating to create more reliable designs. This trend reflects a shift toward sustainable and efficient tire solutions.
Comprehensive Analysis of Green Tires Market
The green tires market and automotive industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessments considering the dominant supply and demand forces that impact the automotives industry. These segmentations are methodically segregated by size types, by application types and by sales channel types. The size type includes, 15 inch, 16 inch, 17 inch and 18 inch. The application type includes, On-Road and Off-Road. The sales channel type includes, OEM and Aftermarket.
Europe, with a market size of USD 8.01 billion in 2019, dominates the green tires market due to strict emission regulations and a focus on eco-friendly vehicle components. Green tires, first developed in Europe in 1990 using silane and silica, reduce rolling resistance and emissions. EURO VI standards drive demand for sustainable tire solutions among automakers. Collaboration between tire manufacturers and automakers is fostering next-generation eco-friendly tire development. The European Commission’s post-2020 carbon emission standards further boost adoption in OEM and aftermarket sectors.
The top players in the market play a crucial role in the automotives industry assuring industrial prospectus growth and setting market standards. These players include, MICHELIN (Clermont-Ferrand, France), Bridgestone Corporation (Tokyo, Japan), The Goodyear Tire & Rubber Company (Ohio, United States), Continental AG (Hanover, Germany), Hankook Tire & Technology Co. Ltd. (Seongnam-si, South Korea), Pirelli & C. S.p.A. (Milan, Italy), Cheng Shin Rubber Ind. Co. Ltd. (Taiwan, ROC) and THE YOKOHAMA RUBBER CO., LTD. (Tokyo, Japan). These market players provide a level-playing competitive landscape.
In March 2020, Goodyear Announces the First Ever Self-Regenerating Concept in Tires: Goodyear presented a self-charging innovation to increase the versatility of tires and their usage and duration which can be seen below. The Goodyear ReCharge being the newest addition in the tire’s series has tread that can be supported by the capsules filled with the liquid. The organic materials used to make the tread rubber are several and blended with the spider silk-based fibers for reinforcement.
Segmentation Table
Global Industrial Cybersecurity Market Scope
Study Period 2016-2027
Base Year 2019
Forecast Period 2020-2027
Growth Rate CAGR of 5.0% from 2020 to 2027
Historical Period 2016-2018
Unit Value (USD billion) & Volume (thousand units)
Segmentation By Tire Size Type, Application Type, Sales Channel Type, and Geography
By Tire Size Type
15 Inch
16 Inch
17 Inch
18 Inch
By Application Type
On-Road
Off-Road
By Sales Channel Type
OEM
Aftermarket
By Geography
North America (U.S., Canada, and Mexico)
Europe (U.K., Germany, France and Rest of Europe)
Asia-Pacific (Japan, China, India, South Korea, and Rest of AsiaPacific)
Rest of the World
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Merger, Acquisitions, and Partnerships
- 4.2. Distributor Analysis – For Major Players
- 4.3. Growth and Penetration Analysis
- 4.4. Porter’s Five Forces Analysis
- 4.5. PEST Analysis
- 4.6. Vendor Landscape
- 5. Global Green Tires Market Analysis, Insights and Forecast, 2016-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Sales Channel Type
- 5.2.1. Original Equipment Manufacturer
- 5.2.2. Aftermarket
- 5.3. Market Analysis, Insights and Forecast – By Size Type
- 5.3.1. 15 Inches
- 5.3.2. 16 Inches
- 5.3.3. 17 Inches
- 5.3.4. 18 Inches
- 5.4. Market Analysis, Insights and Forecast – By Application Type
- 5.4.1. On-Road
- 5.4.2. Off-Road
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia pacific
- 5.5.4. Rest of the World
- 6. North America Green Tires Market Analysis, Insights and Forecast, 2016-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis – By Sales Channel Type
- 6.2.1. Original Equipment Manufacturer
- 6.2.2. Aftermarket
- 6.3. Market Analysis – By Size Type
- 6.3.1. 15 Inches
- 6.3.2. 16 Inches
- 6.3.3. 17 Inches
- 6.3.4. 18 Inches
- 6.4. Market Analysis, Insights and Forecast – By Application Type
- 6.4.1. On-Road
- 6.4.2. Off-Road
- 6.5. Market Analysis – By Country
- 6.5.1. U.S.
- 6.5.2. Canada
- 6.5.3. Mexico
- 7. Europe Green Tires Market Analysis, Insights and Forecast, 2016-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis – By Sales Channel Type
- 7.2.1. Original Equipment Manufacturer
- 7.2.2. Aftermarket
- 7.3. Market Analysis – By Size Type
- 7.3.1. 15 Inches
- 7.3.2. 16 Inches
- 7.3.3. 17 Inches
- 7.3.4. 18 Inches
- 7.4. Market Analysis, Insights and Forecast – By Application Type
- 7.4.1. On-Road
- 7.4.2. Off-Road
- 7.5. Market Analysis – By Country
- 7.5.1. U.K.
- 7.5.2. Germany
- 7.5.3. France
- 7.5.4. Rest of Europe
- 8. Asia pacific Green Tires Market Analysis, Insights and Forecast, 2016-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis – By Sales Channel Type
- 8.2.1. Original Equipment Manufacturer
- 8.2.2. Aftermarket
- 8.3. Market Analysis – By Size Type
- 8.3.1. 15 Inches
- 8.3.2. 16 Inches
- 8.3.3. 17 Inches
- 8.3.4. 18 Inches
- 8.4. Market Analysis, Insights and Forecast – By Application Type
- 8.4.1. On-Road
- 8.4.2. Off-Road
- 8.5. Market Analysis – By Country
- 8.5.1. Japan
- 8.5.2. China
- 8.5.3. India
- 8.5.4. South Korea
- 8.5.5. Rest of Asia Pacific
- 9. Rest of the World Green Tires Market Analysis, Insights and Forecast, 2016-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis – By Sales Channel Type
- 9.2.1. Original Equipment Manufacturer
- 9.2.2. Aftermarket
- 9.3. Market Analysis – By Size Type
- 9.3.1. 15 Inches
- 9.3.2. 16 Inches
- 9.3.3. 17 Inches
- 9.3.4. 18 Inches
- 9.4. Market Analysis, Insights and Forecast – By Application Type
- 9.4.1. On-Road
- 9.4.2. Off-Road
- 10. Competitive Analysis
- 10.1. Key Industry Developments
- 10.2. Global Market Share Analysis (2019)
- 10.3. Competition Dashboard
- 10.4. Comparative Analysis – Major Players
- 10.5. Company Profiles (Overview, Products & Services, SWOT analysis, Recent developments, strategies, financials (based on availability))
- 10.5.1. Michelin
- 10.5.1.1. Overview,
- 10.5.1.2. Products & Services,
- 10.5.1.3. SWOT analysis,
- 10.5.1.4. Recent developments,
- 10.5.1.5. strategies,
- 10.5.1.6. financials (based on availability)
- 10.5.2. Bridgestone Corporation
- 10.5.2.1. Overview,
- 10.5.2.2. Products & Services,
- 10.5.2.3. SWOT analysis,
- 10.5.2.4. Recent developments,
- 10.5.2.5. strategies,
- 10.5.2.6. financials (based on availability)
- 10.5.3. The Goodyear Tire & Rubber Company
- 10.5.3.1. Overview,
- 10.5.3.2. Products & Services,
- 10.5.3.3. SWOT analysis,
- 10.5.3.4. Recent developments,
- 10.5.3.5. strategies,
- 10.5.3.6. financials (based on availability)
- 10.5.4. Hankook Tire & Technology Co. Ltd.
- 10.5.4.1. Overview,
- 10.5.4.2. Products & Services,
- 10.5.4.3. SWOT analysis,
- 10.5.4.4. Recent developments,
- 10.5.4.5. strategies,
- 10.5.4.6. financials (based on availability)
- 10.5.5. Continental AG
- 10.5.5.1. Overview,
- 10.5.5.2. Products & Services,
- 10.5.5.3. SWOT analysis,
- 10.5.5.4. Recent developments,
- 10.5.5.5. strategies,
- 10.5.5.6. financials (based on availability)
- 10.5.6. Pirelli & C. S.p.A.
- 10.5.6.1. Overview,
- 10.5.6.2. Products & Services,
- 10.5.6.3. SWOT analysis,
- 10.5.6.4. Recent developments,
- 10.5.6.5. strategies,
- 10.5.6.6. financials (based on availability)
- 10.5.7. Cheng Shin Rubber Ind. Co. Lt.
- 10.5.7.1. Overview,
- 10.5.7.2. Products & Services,
- 10.5.7.3. SWOT analysis,
- 10.5.7.4. Recent developments,
- 10.5.7.5. strategies,
- 10.5.7.6. financials (based on availability)
- 10.5.8. The Yokohama Rubber Co., Ltd.
- 10.5.8.1. Overview,
- 10.5.8.2. Products & Services,
- 10.5.8.3. SWOT analysis,
- 10.5.8.4. Recent developments,
- 10.5.8.5. strategies,
- 10.5.8.6. financials (based on availability)
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