Global Automotive Green Tires
Market Report
2024
Delivery Includes:- Market Timeline 2019 till 2031, Market Size, Revenue/Volume Share, Forecast and CAGR, Competitor Analysis, Regional Analysis, Country Analysis, Segment Analysis, Market Trends, Drivers, Opportunities, Restraints, ESG Analysis, Porters Analysis, PESTEL Analysis, Market Attractiveness, Patent Analysis, Technological Trend, SWOT Analysis, COVID-19 Analysis, Consumer Behavior Analysis, etc.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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The global Automotive green tires market will expand significantly by xx% CAGR between 2024 and 2031.
The demand for Radial tires is rising in the global Automotive green tires market.
The demand for Passenger cars segment is rising in the global Automotive green tires market.
The demand for the 15-inch segment is rising in the global Automotive green tires market.
The demand for the OEM segment is rising in the global Automotive green tires market.
Asia Pacific region will continue to lead, as dominating region and highest compound annual growth rate in the forecast year 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Market Split by Type |
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Market Split by Application |
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Market Split by Tire Size |
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Market Split by Sales Channel |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Automotive Green Tires Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Tires are an essential part of an automobile; they cover the rim and include inflated inner tubes that are positioned beneath the wheel. In addition to providing traction between the road and the vehicle to cushion impacts, the tires aid in maintaining a firm grip on the pavement. Rubber is typically used to make tires. To produce tires that are more environmentally friendly, tire producers are progressively moving towards renewable raw materials as awareness of energy and environmental issues grows. To protect road safety during rainy conditions and to save energy while driving, green tires may contain plasticizers like silica and silane as well as resins that are firmly linked in the tread block. This lowers rolling resistance and carbon emissions. Additionally, silica in tires greatly enhances their steering capability and responsiveness in a variety of extreme weather scenarios. It has also been demonstrated that these tires increase traction on icy roadways. These days, eco-friendly renewable raw materials are being chosen over traditional tire materials because of their many benefits. These include the materials' lightweight, which lowers the vehicle's overall weight, as well as their increased durability and re-traceability. In addition, these tires reduce rolling resistance and use less petrol. Throughout the projected period, a rapid expansion of the global green tire market is anticipated.
Growing adoption of airless tires acts as an opportunity for the automotive green tires market
The global development of next-generation airless tires has increased as a result of the use of cutting-edge technology and inventiveness in environmentally friendly tires. The flexible ring composed of metal composite spokes is attached to the sturdy inner hub to preserve its shape. Airless tires typically operate without an inner tube and air pressure. The spokes, hubs, treads, and high-tension steel belts make up the majority of airless tires.
For example,
Airless technology is the key to Michelin’s vision of a fully sustainable tire by 2050. At present, 20% of tires are scrapped prematurely due to flats and blowouts (12%) or irregular wear and tear caused by poor tire pressure (8%). Based on internal research, Michelin projects that UPTIS airless technology could prevent premature scrapping of up to 200 million tires a year worldwide or 2 million tons of material – a material saving roughly equivalent to the weight of 200 Eiffel Towers.
In addition to their greater driving capabilities, enhanced weight carrying capacities, and environmentally friendly designs, these tires can reduce carbon emissions through the elimination of energy loss and lowering of rolling resistance. Due to these tires require fewer spares, are easier to fix punctures, and are more productive than traditional tires, consumers are drawn to them. Prominent tire producers including Bridgestone Corporation, Michelin Group, and Hankook Tyre Group are also hard at work creating more seamless and dependable designs for airless tires for automobiles.
Serious environmental issues are being caused by cars' rising carbon emissions. Because they use fossil fuels so extensively, vehicles are one of the main causes of air pollution. Even while individual cars don't emit a lot of emissions, there are a very large number of automobiles in the world overall. When it comes to deciding how many pollutants a vehicle emits, automotive tires are among its most important parts. To slow the rising rate of vehicle emissions, the governments of several nations are putting multiple pollution standards on automakers.
For instance,
Tire labeling is required for every tire sold in Europe. The Tyre Energy Label was introduced by the European Union. According to the three standards, the tires are ranked from A to G (Best to Worst). The average fuel consumption of tires in the "A" category is approximately 7.5% lower than that of tires in the "G" category. The 'A' category tires also provide far more precise braking at high speeds in wet conditions.
It offers clear information about the environmental impact and safety of tires based on important benchmarks like fuel economy, noise levels, and wet surface braking. The tires' labels, which are engraved with these requirements, can help consumers make informed choices that will decrease air pollution, improve road safety, and use less fuel. The expansion of the automotive green tire industry is being driven by strict government regulations.
Vehicle rolling resistance is a major factor in carbon emissions. Pollutant emissions increase as rolling resistance rises because doing so also increases the amount of energy needed to overcome friction. This contributes to the vehicle type's overall weight reduction, which lowers fuel consumption. The advancement of green tires lowers rolling resistance by improving petrol consumption.
For example,
Green tires, featuring the Silica/System, offer lower rolling resistance and better wet grip compared to conventional tires, which only contain carbon black as a filler. These tires can cut fuel consumption by up to 8% due to reduced rolling resistance, while their good wet grip reduces braking distance and improves driving safety. Green tires ensure safe driving even in rain, increase fuel efficiency, reduce environmental impact, and reduce driver's budget. The Silica/silane system has become the norm for car tires in Europe, and manufacturers in North America and Asia are expected to offer energy-efficient material mixtures.
The energy needed for the tires to make contact with the road and flex is increased by rolling resistance. Furthermore, a thorough management of the composite interaction between the tire structure, tread pattern, and rubber compound is required to lower rolling resistance. In passenger cars, rolling resistance makes up roughly 10% to 15% of gasoline usage; however, in heavy-duty vehicles, this ratio can reach 30%. As a result, the global market for green tires is expanding due to consumer desire for tires with increased rolling resistance.
Customers are aware of the advantages of driving hybrid and compressed natural gas (CNG) cars, but they are less aware of the advantages of green tires and how much they can save on gasoline. The general public in developing nations like Indonesia and India is less aware of the advantages provided by green tires. There are several explanations for why people do not know about green tires. They are not as readily available as conventional tires, which is one of the reasons. They are frequently more expensive than conventional tires, which is another factor. Furthermore, a lot of individuals are unaware of the advantages of using green tires. Numerous actions can be taken to increase public awareness of green tires. Making things more accessible is one thing. Educating people about the advantages of green tires is another thing to do. Public relations, advertising, and instructional materials can all be used to accomplish this. The two main things that could prevent the market from expanding are a lack of technological know-how and ignorance about the development of these tires. Furthermore, the cost and engineering required for the production of green tires could impede or postpone the market's expansion.
The COVID-19 pandemic has significantly impacted the global economy and the automotive and transportation industry. Post-lockdown, industries are slowly recovering from losses, with many shifting their investment plans to recover losses instead of heavy investments in R&D innovation. Additionally, individuals are not investing in buying vehicles, leading to a decline in vehicle sales. The disruption in import and export trades and the shutting down of manufacturing companies have led to increased raw material prices, hampering the production capacities of automobiles. This decline in vehicle sales is expected to hinder the market amid the pandemic. Green tires, produced using climate-friendly elastic, are produced using low moving resistance, reducing fuel utilization. The growing sales of business vehicles and traveler vehicles, along with the interest in eco-friendly tires, are essential for the development of the Green Tires Market. However, the manufacturing business is facing a critical decline due to the pandemic. The lockdowns forced by governments in many countries during the first three months of 2022 have significantly affected the global economy. The end of business activities to prevent the spread of COVID-19 has impacted the production of automobile parts and vehicles, affecting the sales of traveler vehicles and other vehicles. The global movement restrictions have also limited vehicle development, causing a shortage of replacement tires, further hampering the market's growth.
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Automotive tires are crucial for maintaining grip and traction on the road. Manufacturers are using renewable materials like silica and silane for environmentally-friendly tires, which offer safety during rains, and reduce rolling resistance, and carbon emissions. These eco-friendly materials are preferred due to their lightweight nature, improved durability, and fuel efficiency. The global green tire market is expected to experience rapid growth, with companies like Evonik focusing on developing advanced eco-friendly tires. Major players in the market include Continental Group, Cooper & Rubber Company, Hankok Co. Ltd., Goodyear & Rubber Company, Michelin Group, Pirelli, Sumitomo Rubber Industries Ltd., Bridgestone Group, Toyota & Rubber Co. Ltd., and Yokohama Rubber Co. Ltd. Companies are focusing on producing environmentally friendly tire solutions to minimize carbon footprint and reduce energy use and emissions. They are working with manufacturers to incorporate green tire technology into cars, encouraging fuel economy and cutting greenhouse gas emissions.
Top Companies Market Share in Automotive Green Tires Industry: (In no particular order of Rank)
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Global Automotive Green Tires Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Automotive Green Tires Industry growth. Automotive Green Tires market has been segmented with the help of its Type, Application Tire Size, and others. Automotive Green Tires market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
In 2023, radial tires became a major market category, bringing in more than xx% of total sales. Due to several advantages, including lower fuel consumption, less damage, and compaction of the ground, increased productivity, decreased replacement costs, and cheaper machine maintenance expenses, radial tires are predicted to dominate the market. It is predicted that the bus and truck segments will see a considerable trend towards radicalization, with international vendors concentrating on gaining a sizable market share in nations like India.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Automotive Green Tires Industry. Request a Free Sample PDF!
With a revenue share of more than xx% in 2023, the passenger car (PC) segment led the industry. The demand for passenger automobiles is mostly influenced by the state of the economy, which is determined by changes in government policies, GDP growth, inflation rates, and exchange rate fluctuations. The demand for passenger cars is also often influenced by the transportation infrastructure and fluctuating fuel prices. Global demand for PCs is anticipated to increase in the next years due to expanding markets like China and India as well as the improving economic outlook in the United States. In 2023, the Light Commercial Vehicle (LCV) segment garnered a noteworthy revenue share of over xx%. Compared to heavy commercial vehicles, light commercial vehicles (LCV) are more fuel-efficient and require less maintenance and operation.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Automotive Green Tires market report 2024 Edition by contacting our team.
The market is divided into four segments: 15-inch, 16-inch, 17-inch, and 18-inch based on the type of tire. In the global market, the 15-inch sector has the biggest share. Because more and more auto manufacturers are using 16-inch tires, 16-inch tires are also anticipated to see rapid expansion during the green tires market forecast period. A significant proportion of passenger cars typically have 15-inch tires because creatively made wheels with huge rim widths are being adopted at a quick pace. Well-known tire producers, including Bridgestone, Hankook, Continental, Goodyear, and others, have been heavily investing in research techniques to create and design cutting-edge raw materials for tires that will increase their rolling resistance, boost fuel economy, and reduce noise levels. Due to the vast number of cars on the road today, corporations are heavily investing in the development of green tires for on-road vehicles. Customers therefore strongly like the 15-inch model to conserve gasoline and cut down on carbon emissions.
The market is further divided into OEM and aftermarket segments based on the sales channel. Because of the growing concerns about safety and the environment, the OEM segment commands a significant portion of the global market in terms of both volume and value. OEMs are spending money on research to develop durable, lightweight tires that are friendly to the environment to curb the rising rate of vehicle pollution and cut down on fuel use. In the global market, the aftermarket segment is also rather large and is predicted to grow even more in the years to come. Major factors projected to drive the aftermarket category include the growing need for high fuel efficiency and a clean and green environment among both automobile makers and current vehicle owners. Additionally, the aftermarket green tire industry is being supported by technological advancements and the use of renewable raw materials in tire production.
In the Automotive green tires Market, Asia Pacific has established itself as the market leader with a significant market share. The Asia-Pacific automotive tire industry, which accounted for over xx% in 2023, is expected to grow at a CAGR of over x% from 2024 to 2031. Emerging economies like China and India are expected to drive regional growth due to growing domestic consumption, evolving standards, cheap labor, and a large population. India is the fastest-growing country in the LCV and passenger car segment due to rising demand from the rural sector. The dynamic automotive industry in Asia Pacific provides a broader market space for green tires due to its massive production capacity, availability of raw materials, and established distribution channels. The Automotive green tires market has seen the most substantial growth rate in Europe. Europe's green tire market will be dominated by stringent government regulations aimed at reducing carbon emissions and promoting environmentally friendly vehicles. Green tires, also known as energy tires, use silane and silica for tire treads. European tire manufacturers and suppliers are focusing on the market due to strict emission standards (EURO VI). Major automakers rely on automotive parts suppliers to meet these standards. Tires play a crucial role in reducing emissions and providing a good fuel economy. The European Commission is formulating post-2020 carbon dioxide emission standards for passenger cars and commercial vehicles, promoting the adoption of eco-friendly tires in the OEM and aftermarket.
The current report Scope analyzes Automotive Green Tires Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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I am a research analyst working in various domains including the Consumer Goods domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.
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The Global Automotive Green Tires Market is witnessing significant growth in the near future.
In 2023, the Radial Tire segment accounted for noticeable share of global Automotive Green Tires Market and is projected to experience significant growth in the near future.
The Passenger Cars segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Bridgestone Corporation , Michelin and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
For example,
In May 2023, Hankook Tire & Technology and Kumho Petrochemical Co., Ltd. (KKPC) signed a Memorandum of Understanding (MOU) to develop eco-friendly tires. They aim to utilize Solution-polymerized Styrene-Butadiene Rubber (Eco-SSBR) as an eco-solution.
Source (https://www.hankooktire.com/global/en/company/media-list/media-detail.628331.html)
For example,
Michelin introduced the Air X Skylight tire for use in commercial aircraft in June 2023. With a weight decrease of 10–20%, the tire is lighter than prior generations, increasing its long-term performance and longevity by over 15%.
For example,
With the release of the new P Zero AS Plus 3, an ultra-high-performance all-season tire made especially for luxury vehicles, Pirelli announced a product expansion in June 2023. To satisfy the demands of drivers in North America, P Zero offers comfort and durability.
Source (https://www.pirelli.com/global/en-ww/road/cars/tyres/welcome-the-new-p-zero-as-plus-81607/)
Table of Content differs accordign to the user License selction. Current Displayed TOC is for the Corporate User License Report Edition. TOC Customization options: Add or Remove section's Or chapter's from the report. Specific section's of report can be ordered at a discounted price. If applicable; On Request Volume Data will also be provided (at an Additional Cost).
Type | Radial Tire, Bias Tire |
Application | Passenger Cars, LCV, HCV, Two-Wheelers |
Tire Size | 15 Inch, 16 Inch, 17 Inch, 18 Inch |
Sales Channel | OEM, Aftermarket |
List of Competitors | Bridgestone Corporation, Goodyear, Michelin, Continental AG, Pirelli Tyre S.p.A, Maxxis Rubber India Private Limited, Apollo Tyres Ltd, Toyo Tire & Rubber, Kumho Tire, Cooper Tire & Rubber Company, Triangle Group, GITI Tire, Nokian Tyres Plc, Nexen Tire Corporation |
This chapter will help you gain GLOBAL Market Analysis of Automotive Green Tires. Further deep in this chapter, you will be able to review Global Automotive Green Tires Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
Chapter 2 North America Market Analysis
Executive Summary North America Market (2019 vs 2024 vs 2031)
Purchase Add-Ons to Customize the Report Edition and get further granular data level data about the North America market. Add-On Cost: Request before placing the order, Respective Pricing will be informed after sending the inquiry
Qualitative Analysis for the North America Market: North America Automotive Green Tires Market Trends North America Automotive Green Tires Technological Road Map North America Automotive Green Tires Market Drivers North America Automotive Green Tires Market Restraints North America Automotive Green Tires Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia-Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
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Chapter 11 Market Split by Application Analysis 2019 -2031
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Chapter 12 Market Split by Tire Size Analysis 2019 -2031
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Chapter 13 Market Split by Sales Channel Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Automotive Green Tires market
Chapter 14 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Radial Tire have a significant impact on Automotive Green Tires market? |
What are the key factors affecting the Radial Tire and Bias Tire of Automotive Green Tires Market? |
What is the CAGR/Growth Rate of Passenger Cars during the forecast period? |
By type, which segment accounted for largest share of the global Automotive Green Tires Market? |
Which region is expected to dominate the global Automotive Green Tires Market within the forecast period? |
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