Green Tire Market Overviews
Green Tire Market size was volume at 136441.08 thousand units in 2023 and the total Green Tire Market volume is expected to grow at 10.4% through 2024 to 2030, reaching nearly 272727.34 thousand units.
Composed of low rolling resistance (LRR) tires and “green” (sustainable) materials, the green tire industry is a fast-growing part of the overall tire industry. The rapid growth of the industry is partly due to the growth of the tire market itself, but mainly due to the growing public interest in sustainability. The global market for green tires is estimated by SMRs to be 101,400 thousand units in 2020, which will account for approximately 38% of the global tire industry. SMR Report for green tire market by 2027 predicts that value and quantity will increase by nearly 10.4% annually by 2027, when the volume reaches nearly 202.680 thousand units.
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Green Tire Market Scope and Methodology:
The main driver of the global Green Tire Market is the growth of the middle class and the consequent increase in vehicle ownership in emerging markets, especially in Asia. With growing concerns about greenhouse gas emissions and the limited availability of natural resources to meet the demands of more and more consumers, the industry is in the government and market for more sustainable products like green tires. As a result, tire manufacturers are promoting sustainable tire technology, including the inclusion of renewable rubber in their products that is equal to or better than traditional rubber. Many tire manufacturers have strategic partnerships with governments, researchers and biotechnology companies to drive the commercial development of renewable rubber.
Green Tire Market Regional Insights
In China, the common charge of an electric powered bicycle with lead-acid batteries is $167. According to Chinese Sustainability Survey, e-motorcycles in North America fee a mean of $815, even as the ones in Western Europe fee a mean of $1,546. China dominates the global green tire market, with estimates indicating that 83% of all e-motorcycles are offered on this Asian country. According to authorities estimates, there have been a hundred and eighty million e-motorcycles at the streets of China in 2013, that is considerably greater than everywhere else withinside the world.
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Green Tire Market Segmentation
Green tires are continually being optimized to achieve the lowest possible rolling resistance by means of fillers such as highly dispersible silica (HD silica or HDS), improved carbon blacks or nanotechnology. This segment accounted for most of the green tire market in 2018, and will predominate through 2027. Other materials are contributing, some also from the standpoint of reducing rolling resistance, but also from that of general sustainability. Improvements in synthetic rubber attributes and sustainability (i.e. nonpetroleum alternatives) and the increased use and supply of natural rubber are key areas of attention and innovation. Initially, the emerging green technologies will be small in volume and value, with greater commercial potential occurring after the forecast period.
Green Tire Market Key Players
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)
Kenda Tires (Taiwan)
Giti Rubber (Singapore)
Cooper (US)
Yokohama (Japan)
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Key questions answered in the Green Tire Market are:
- What is Green Tire ?
- What was the Green Tire market size in 2023?
- What is the growth rate of the Green Tire Market?
- Which are the factors expected to drive the Green Tire market growth?
- What are the different segments of the Green Tire Market?
- What growth strategies are the players considering to increase their presence in Green Tire ?
- What are the upcoming industry applications and trends for the Green Tire Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Green Tire Market?
- Who are the leading companies and what are their portfolios in Green Tire Market?
- What segments are covered in the Green Tire Market?
- Who are the key players in the Green Tire market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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