Green Tire Market - Growth, Trends And Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players: Michelin, Bridgestone, Continental, Pirelli

Green Tire Market Size was valued at from US$ 90340 million in 2022 and is projected to reach US$ 137630 million by 2027, growing at a 11.1% CAGR from 2022 -2027.

Green Tire Market Overview

Green tires may contain plasticizers such as silica and silane, which are strongly bound in the tread block and ensure road safety during rainstorms while also conserving energy and minimizing rolling resistance and carbon emissions. Silica in tires also improves tire responsiveness and steering abilities in a variety of extreme weather conditions. On icy roads, these tires have also been demonstrated to improve traction. These eco-friendly renewable raw materials are currently being preferred over conventional tire materials due to major advantages such as material lightweight, which leads in overall vehicle weight reduction, as well as increased durability and tire retreadability. Additionally, these tires are fuel-efficient and reduce rolling resistance. During the projected period, the global green tire market is expected to rise rapidly.

The rising rate of carbon emissions from automobiles is causing serious environmental issues. Due to the widespread use of fossil fuels, vehicles are the most significant contributors to air pollution. Although individual vehicles may not emit a lot of pollution, the total number of vehicles on the road across the world is vast. In terms of influencing the number of pollutants emitted by automobiles, automotive tires are one of the most important components. Varied governments are imposing various emission standards on automobile manufacturers in order to limit the rising rate of vehicular emissions. All tires supplied in Europe, for example, must bear mandated tire labeling.

Market competition is not intense. Michelin, Bridgestone, Continental, Pirelli, etc. are the leaders of the industry, and they hold key technologies and patents, with high-end customers; who have been formed in the monopoly position in the industry. Green tire means the tires used a whole new breed of environmentally friendly rubber. Green tire technology focuses on the fuel efficiency bit. These eco-friendly tires also employ a special type of tightly bonded rubber in the tread blocks to retain more energy while driving this means lower rolling resistance and therefore less engine power sapped in rotating the tire.

Who are the Major Players in Green Tire Market?

Top Key Players in the Green Tire Market have been identified through secondary research, and their market shares have been determined through primary and secondary research. The global Green Tire Market is fragmented with a large number of small players operating worldwide. The companies referred in the market research report include Michelin, Bridgestone, Continental, Pirelli, Goodyear, Shanghai Huayi, Sumitomo Rubber Industries, ZC Rubber, Yokohama, Nokian Tyres, Hankook, Maxxis, Triangle, Pirelli Tyre SpA, PPG Industries Inc., Green Arc Tire Manufacturing, Kumho and others.

Industry News:

• Bridgestone Joins Electric Mobility with EV-only Tire Production
  
  
  
  
  • Bridgestone, Japan’s leading global tire manufacturer, also has strategies toward sustainable mobility and announced the introduction of new products specifically for electric cars.
  
  
  • According to various studies conducted by the company, single-tire sales for electrified vehicles will account for 90% of total sales.
  
  
  • Actually, Bridgestone has already designed special tires for the Volkswagen ID.3, the first electric car from the ID family. These are lightweight and promise greater fuel and battery savings, with a 20% weight reduction compared to other tires.
  
  
  
  


• Continental’s eco-friendly concept tire includes a renewable tread
  
  
  
  • Many efforts are underway to reduce the environmental impact of cars, Continental thinks it might help. Roadshow reports the company has introduced the Conti GreenConcept (yes, a concept tire) where more than half of the materials are “traceable, renewable and recycled.” You can even renew the natural rubber tread with little trouble not a completely new idea, but refreshable treads have generally been reserved for large commercial trucks. Three renewals would be enough to ensure the material used for casing is cut in half relative to the total mileage.
  
  
  
  


• Continental reveals a new green tire concept
  
  
  
  • Continental is one of the largest manufacturers of tires for automotive uses in the world. The company has revealed a new green tire concept aiming to create sustainable tires for passenger cars. The concept is called the Conti GreenConcept tire and revealed and IAA Mobility.
  
  
  
  

What are the major Applications, Types and Regions for Green Tire Market?

The market is segmented based on the type, applications, companies and regions.

Green Tires Market, Based on Vehicle Type:

• Passenger Cars


• LCVs


• Others

 Green Tires Market, Based on Application:

• Passenger Vehicle


• Light Commercial Vehicle


• Heavy Commercial Vehicle

Market Dynamics

Major Drivers of the Market

An increase in eco-friendliness is the major driver of the Green Tires Market. Green tires help in lessening the energy lost because of grating among tires and the moving surface. This is called moving obstruction. Seven to ten percent of the fuel is devoured to conquer the moving opposition in light engine vehicles and regular traveler vehicles. In heavy trucks and business vehicles, the fuel utilization is higher. Over the long haul, the utilization of green tires turns out practical, as the additional expense paid for the green tires is recuperated by investment funds made on fuel costs.

Significant Opportunities For The Market

However, the interest for green tires is expanding among different car producers, i.e., at the Original Equipment (OE) level, the substitution tires market is relied upon to give a great deal of opportunity to Green Tires Market later on. The interest for substitution tires will probably ascend during the estimated time frame, because of the greater vehicle usage in the background of an expansion in taxi sharing offices across the globe.

Market Restraints

Lack of awareness in arising economies is considered as the major market restraint for Green Tires Market. The shoppers are very much aware of the advantages of utilizing CNG and crossover vehicles. In any case, awareness is absent regarding the advantages of green tires and their job in lessening fuel utilization. In arising economies like India and Indonesia, the overall purchaser is less centered on the advantages offered by green tires. This goes about as a huge restriction for the Green Tires Industry.

Green Tire Market Regional Analysis

The global green tires market originated in Europe, where the use of silica in tire treads laid the foundation of the market. The region is still the dominant market for green tires and is among the major research hubs. North America has also been quick to incorporate green automotive technologies and the market for green tires in the region is now second only to Europe.

Europe and North America will remain the two largest regional markets for green tires due to the strong presence of preeminent automotive giants such as Mercedes, BMW, Audi, Volkswagen, Ford, and GM. The dynamic automotive industry in Asia Pacific is expected to drive the green tires market in countries such as Japan, China, and India.

North America

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  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East & Africa
  
  
  • Latin America
  
  
  
  

The Green Tire Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global Green Tire Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.

What is our Green Tire Market report scope?

Report Attributes	Report Details
Report Title	Green Tire Market - Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players:   Michelin, Bridgestone, Continental, Pirelli, Goodyear
Forecast Period 2022 to 2028 CAGR	CAGR of 11.1% over the forecast period (2022-2027)
By Type	Passenger Cars LCVs Others
By Application	Passenger Vehicle Light Commercial Vehicle Heavy Commercial Vehicle
By Companies	Michelin, Bridgestone, Continental, Pirelli, Goodyear, Shanghai Huayi, Sumitomo Rubber Industries, ZC Rubber, Yokohama, Nokian Tyres, Hankook, Maxxis, Triangle, Pirelli Tyre SpA, PPG Industries Inc., Green Arc Tire Manufacturing, Kumho and others.
Regions Covered	North America Europe Asia-Pacific Rest of the World
Countries Covered	US Canada Germany France UK Italy Spain Rest of Europe China Japan India Australia South Korea Rest of Asia-Pacific Middle East & Africa Latin America
Base Year	2022
Historical Year	2017 to 2021
Forecast Year	2022 to 2027
Number of Pages	122
Customization Available	Yes, the report can be customized as per your needs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Key Takeaways from this Evaluate Green Tire Report

• Evaluate Green Tire's market potential by analyzing growth rates (CAGR %), Volume (Units), and Value ($M) data given at the country level - for product types, end-use applications, and by different industry verticals.


• Understand the different dynamics influencing the market - key driving factors, challenges and hidden opportunities.


• Get in-depth insights on your competitor's performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.


• Analyze the sales and distribution channels across key geographies to improve top-line revenues.


• Understand the industry supply chain with a deep dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.


• Get a quick outlook on the Green Tire market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.


• Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.

Frequently Asked Questions

What is the study period of this market?

The Green Tire Market is studied from 2017 - 2027.

What is the growth rate of Green Tire Market?

The Green Tire Market is growing at a CAGR of 11.1% over the next 5 years.

Who are the key players in Green Tire Market?

Michelin, Bridgestone, Continental, Pirelli, Goodyear, Shanghai Huayi, Sumitomo Rubber Industries, ZC Rubber, Yokohama, Nokian Tyres, Hankook, Maxxis, Triangle, Pirelli Tyre SpA, PPG Industries Inc., Green Arc Tire Manufacturing, Kumho and others.

What regions does this Green Tire Market report covers?

North America (the United States, Canada, and Mexico)

Europe (Germany, France, UK, Russia, and Italy)

Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)

South America (Brazil, Argentina, Colombia, etc.)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

What are the significant types of Green Tire Market?

Passenger Cars, LCVs, Others

What are the major end-use applications of the Green Tire Market?

Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle

All our reports are customizable to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.