The global automotive green tires market is growing due to the rising global sales of BEVs and PHEVs. These vehicles have lower rolling resistance than traditional gasoline-powered vehicles, which means they can travel further on a single charge. Green tires can help to 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 leading global tire companies have set carbon emission goals. In order to meet these goals, companies are using green raw materials in their production processes.
The demand for automotive green tires is also being driven by consumer preferences for environmentally friendly mobility solutions. Consumers are increasingly aware of the environmental impact of transportation, and they are looking for ways to reduce their carbon footprint. Green tires are a way for consumers to do this, as they help to reduce emissions and improve fuel efficiency.
The COVID-19 pandemic had a significant impact on the automotive green tires market. Governments implemented lockdowns and shut down manufacturing facilities, which led to a decline in sales. However, the market is expected to recover in the coming years, as the demand for electric vehicles continues to grow.
Key Market Drivers
- Rising global sales of BEVs and PHEVs
- Increasing focus on green manufacturing by tire companies
- Growing consumer demand for environmentally friendly mobility solutions
Key Market Trends
- Use of synthetic composites in tire manufacturing
- Development of new green tire technologies
- Increasing government regulations on emissions
Overall, the global automotive green tires market is expected to grow in the coming years. This growth will be driven by the rising demand for electric vehicles, the increasing focus on green manufacturing by tire companies, and the growing consumer demand for environmentally friendly mobility solutions.
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The Global Automotive Green Tires 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 Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, 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 Tires Market is divided into Radial and Bias. Based on the region type the market is further segmented into North America, Asia Pacific, Europe & CIS, South America, and Middle East & Africa.
Some of the major companies operating in the Global Automotive Green Tires Market include:
- Bridgestone Corporation
- Continental AG
- Michelin Group
- Apollo Tyres Limited
- Yokohama Tire Corporation
- Goodyear Tire & Rubber Company
- Pirelli & C. Spa
- Toyo Tire Corporation
- MRF Limited
- CEAT Limited
These are the key players developing advanced technologies and launching 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 outreach. These companies are also focusing on meeting the regulations of different regional governments and are also partnering with different 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 capture major market share and in the forecast period these regions are expected to increase their market penetration as the companies in the regions are strengthening their manufacturing capabilities of green tires and also enhancing product portfolio. Moreover, the rise in electric vehicles sales will also generate new opportunities for the global automotive green tires 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, Opportunity, and Forecast, 2018-2030F Segmented By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, Two Wheelers, Three Wheelers and OTR), By Demand Category (OEM and Replacement), By Tire Construction Type (Radial and Bias), By Region.” has evaluated the future growth potential of Automotive Green Tires Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Automotive Green Tires Market.
Report Scope:
In this report, Global Automotive Green Tires Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Automotive Green Tires Market, By Vehicle Type:
o Passenger Car
o Light Commercial Vehicle
o Medium & Heavy Commercial Vehicle
o Two Wheelers
o Three Wheelers
o OTR
Automotive Green Tires Market, By Demand Category:
o OEM
o Replacement
Automotive Green Tires Market, By Tire Construction Type:
o Radial
o Bias
Automotive Green Tires Market, By Region:
o Asia-Pacific
- China
- India
- Japan
- Malaysia
- Thailand
- Indonesia
- Vietnam
- South Korea
o North America
- United States
- Canada
- Mexico
o Europe & CIS
- Germany
- France
- United Kingdom
- Spain
- Italy
- Belgium
- Russia
o South America
- Brazil
- Argentina
- Colombia
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TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and an increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.
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