Green Tire Market Overview:
The “green” (sustainable) tyre industry is a quickly expanding sector of the entire tyre industry and is made up of low rolling resistance (LRR) tyres. The sector is expanding quickly in part due to the expansion of the tyre market, although this is secondary to the growing public interest in sustainability. According to SMRs, the worldwide market for green tyres will reach 101,400 thousand units in 2020, or around 38% of the entire tyre business. By 2027, when the volume reaches roughly 202.680 thousand units, the green tyre market is expected to grow in both value and quantity by a rate of about 10.4% annually, according to the SMR Report for Green Tire Market.
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Market Scope:
The market for Green Tire is predicted to experience the fastest CAGR growth between 2022 and 2029. This study offers estimates and estimations for the Green Tire market. This Stellar market research (SMR) evaluation examines and analyses the industry trends, obstacles, and opportunities that are progressing the Green Tire Market. The goal of this study is to provide a strategic analysis of the Green Tire market in terms of recent growth patterns, future growth prospects, and significant submarket contributors. The SMR analysis includes a country-by-country segmentation and covers North America, Europe, Asia Pacific, the Middle East and Africa (MEA), and South America. Considerable industry participants’ strategy orientations, market positions, and assessments of their primary strengths are examined. Profiles of the top companies in the market are also provided, together with information on their most recent competitive successes, investments, strategic goals, and competitive environment.
Segmentation:
Through the use of fillers like highly dispersible silica (HDS), enhanced carbon blacks, or nanotechnology, green tyres are continuously upgraded to attain the lowest possible rolling resistance. Through 2027, this market segment—which dominated in 2018—will dominate the market for green tyres. Other materials also play a role, some from the perspective of lowering rolling resistance as well as from that of sustainability in general. The increased use and availability of natural rubber, as well as advancements in the sustainability and properties of synthetic rubber (i.e., non-petroleum alternatives), are major focus points for innovation. The volume and value of the new green technologies will be modest at first, but after the forecast period, there will be significant economic potential.
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Key Players:
- Goodyear Tire and Rubber (US)
- Continental (Germany)
- Hankook (South Korea),
- Pirelli (Italy)
- Cheng Shin Rubber (China)
- Kumho Tires (South Korea)
- ZC Rubber (China)
- Nokian Tires (Finland)
- Apollo tires (India),
- Sailun Tires (China)
- Shandong Linlong Tire (China)
COVID-19 Impact Analysis on Green Tire Market:
The COVID-19 recovery phase is now complete everywhere in the world. The Green Tire market is examined in light of the current economic climate in Stellar Market Research’s report on the Green Tire market’s status, trends, and COVID-19 impact. SMR regularly evaluates the COVID-19 pandemic’s effects on a variety of industries and verticals across all disciplines. The same data may be found in stellar market research (SMR) reports, and these studies can be used to determine how COVID-19 has impacted industry decline and growth. A market’s supply and demand gap can be identified with the use of a stellar market research (SMR) report. The stellar market research (SMR) report contains research, updates to government regulations, and other pertinent information.
About Stellar Market Research:
Stellar Market Research is a market research and consulting firm that provides syndicated and custom-designed research reports, as well as consulting services. The company’s products are majorly focused on assisting businesses in making better business decisions by locating, targeting, and analysing changes in consumer behaviour across demographics and industries. To provide relevant and fact-based research, the company conducts market intelligence studies in a variety of areas, including healthcare, touch points, Lawful Interceptions, types, and energy. Stellar Market Research has a large team of highly skilled analysts who specialise in a wide range of fields. Clients of the company can gain an advantage over their competitors due to the company’s industry experience and ability to provide a tangible solution to any research problem.
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