The global automotive green tire market is growing due to increasing global BEV and PHEV sales. These vehicles have lower rolling resistance than traditional petrol vehicles, meaning they can travel further on a single charge. Green tires can help further improve the efficiency of electric vehicles by reducing rolling resistance.
In addition, tire manufacturing companies are increasingly switching to green tires. This is because many of the major global tire companies have set carbon emission targets. To achieve these goals, companies are using green raw materials in their production processes.
Demand for green automotive tires is also being driven by consumer preferences for eco-friendly mobility solutions. Consumers are increasingly aware of the environmental impact of transportation and are looking for ways to reduce their carbon footprint. Green tires are one way for consumers to do this, as they help reduce emissions and improve fuel efficiency.
The COVID-19 pandemic had a significant impact on the automotive green tire market. Governments implemented lockdowns and closed manufacturing facilities, which led to a decline in sales. However, the market is expected to recover in the coming years as demand for electric vehicles continues to grow.
Key market leaders
- Increasing global BEV and PHEV sales
- Increased focus on green production by tire companies
- Increasing consumer demand for environmentally friendly mobility solutions
Key market trends
- The use of synthetic compounds in the production of tires
- Development of new green tire technologies
- Increased government regulations on emissions
Overall, the global automotive green tire market is expected to grow in the coming years. This growth will be driven by growing demand for electric vehicles, increasing focus on green manufacturing by tire companies, and increasing consumer demand for environmentally friendly mobility solutions.
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The global automotive green tire market can be segmented based on vehicle type, demand category, tire construction type, region and company. Based on vehicle type, the market is further segmented into Passenger Cars, Light Commercial Vehicles, Medium and Heavy Commercial Vehicles, Two Wheelers, Three Wheelers and OTR. Based on demand category, the market is segmented into OEM and Replacement. Based on tire construction type, the global automotive green tire market is segmented into Radial and Bias. Based on region type, the market is further segmented into North America, Asia Pacific, Europe & CIS, South America, and Middle East & Africa.
Some of the key companies operating in the global automotive green tire market include:
- Bridgestone Corporation
- Continental AG
- The Michelin Group
- Apollo Tires Limited
- Yokohama Tire Corporation
- Goodyear Tire & Rubber Company
- Pirelli & C. Spa
- Toyo Tire Corporation
- MRF Limited
- CEAT Limited
These are the key players who develop advanced technologies and launch new products to stay competitive in the market. Other competitive strategies include mergers with research and development firms, new product developments, and marketing activities to increase customer reach. These companies are also focusing on meeting the regulations of various regional governments and are also partnering with various defense research bodies to stay competitive in the market.
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“Asia-Pacific is the leading region, followed by Europe and North America. All these regions account for a large share of the market and in the forecast period these regions are expected to increase their market penetration as companies in the regions are strengthening their green tire manufacturing capabilities and also increasing their product portfolio. In addition, increasing sales of electric vehicles will also generate new opportunities for the global automotive green tire market,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Automotive Green Tires Market – Global Industry Size, Share, Trends, Opportunities and Forecast, 2018-2030F Segmented by Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium and Heavy Commercial Vehicle, Two-Wheeler , three-wheelers and OTR), Demand category (OEM and replacement), By type of tire construction (radial and bias), by region.” has estimated the future growth potential of the Automotive Green Tires Market and provides statistics and information on the market size, structure and future growth of the market. The report aims to provide cutting-edge market intelligence and help decision makers make sound investment decisions. In addition, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities in the automotive green tires market.
Scope of report:
In this report, the Global Automotive Green Tires Market is segmented into the following categories, apart from the industry trends which are also detailed below:
Automotive Green Tires Market, By Vehicle Type:
o Passenger car
o Light commercial vehicle
o Medium and heavy commercial vehicles
o Two-wheeled vehicles
o Three-wheeled vehicles
OTR
Automotive green tire market, by demand category:
o OEM
o Replacement
Automotive Green Tires Market, By Tire Construction Type:
o Radial
SUPERSTITION
Automotive green tire market, by region:
o Asia-Pacific
- China
- INDIA
- Japan
- Malaysia
- Thailand
- Indonesia
- Vietnam
- South Korea
o North America
- United States
- Canada
- Mexico
o Europe and CIS
- Germany
- France
- United Kingdom
- Spain
- Ital
- Belgium
- Russia
o South America
- Brazil
- Argentina
- Colombia
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About TechSci Research:
TechSci Research is a research-based management consulting firm that provides market research and advisory solutions to its clients worldwide, spanning a variety of industries. TechSci Research’s core values are value, integrity and insight. Led by a dynamic team of industry experts, TechSci Research provides its clients with high-value research and advisory services that help them identify new market opportunities, growth drivers and innovative ways to capture market share. As a result, TechSci’s client leads rather than follows market trends. Unbound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and an increasing use of technology as engines of innovation to deliver unique research value. Offered as an alternative to traditional market research, TechSci Research reports not only provide data and insights, but highlight insights in a more usable and interactive format for its clients.
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