The green tires global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Green Tires Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The green tires market size has grown rapidly in recent years. It will grow from $100.9 billion in 2023 to $112.87 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The growth in the historic period can be attributed to environmental awareness, government regulations, consumer demand for eco-friendly products, rise in disposable income, increased demand for mobility services.
The green tires market size is expected to see rapid growth in the next few years. It will grow to $180.64 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%. The growth in the forecast period can be attributed to growth of electric vehicles, emergence of autonomous vehicles, rising urbanization, economic growth. Major trends in the forecast period include smart tire technology, electrification-optimized tires, cross-industry collaborations, tire-as-a-service models.
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Scope Of Green Tires Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Green Tires Market Overview
Market Drivers –
The increase in environmental awareness among consumers is driving the green tyre market. To create more awareness among people, many countries, such as the USA, China, South Korea, and Japan, have implemented tyre standards, ratings, labeling, and correct pressure programs. Due to the rising benefits of using green tires, such as eco-friendliness, high durability, fuel efficiency, and carbon emission reductions, consumers are opting for green tyres compared to conventional tires. For instance, in September 2023, according to The Roundup, a US-based non-profit organization, 78% of consumers felt that environmental sustainability was important, and 55% of consumers were willing to pay more for eco-friendly brands. And in 2021, 50% of worldwide consumers reported adopting more eco-friendly practices in the preceding six months. Therefore, the rise in environmental awareness related to the use of eco-friendly tyres will propel the growth of the green tyre market.
The green tires market market covered in this report is segmented –
1) By Vehicle Type: Passenger Cars, Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (HCV)
2) By Size: <10 Inch, 10-20 Inch, 20-30 Inch
3) By Sales Channel: Aftermarket, Original eEquipment Manufacturer (OEM)
4) By Application: On-Road, Off-Road
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Regional Insights –
Europe was the largest region in the green tyre market in 2023. The regions covered in the green tires market market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the green tires market market include Compagnie Générale des Établissements Michelin, Bridgestone Corporation, Goodyear India Limited, Continental AG, Hankook Tire & Technology Co. Ltd., Pirelli & C. S.p.A., Apollo Tyres Ltd., Cheng Shin Rubber Ind. Co. Ltd., Kumho Industry Co. Ltd., Nokian Tyres plc, Zhongce Rubber Co. Ltd., Sailun Group Co. Ltd., Shandong Linglong Tire Co. Ltd., The Yokohama Rubber Co. Ltd., Kenda Rubber Industrial Company, Linglong Americas Inc., Guizhou Tyre Co. Ltd., Barez Industrial Group Company Public Joint, PT Gajah Tunggal Tbk, Toyo Tire & Rubber Co. Ltd., Cooper Tire & Rubber Co., Madras Rubber Factory Ltd., Giti Tire Pte Ltd., Shandong Fengyuan Tyre Co. Ltd., Southern Rubber Industry Co., Specialty Tires of America Inc., Sumitomo Rubber Industries Ltd., Nexen Tire Corporation, Hangzhou Zhongce Rubber Co. Ltd., Double Coin Holdings Ltd.
Table of Contents
1. Executive Summary
2. Green Tires Market Characteristics
3. Green Tires Market Trends And Strategies
4. Green Tires Market – Macro Economic Scenario
5. Global Green Tires Market Size and Growth
…
31. Global Green Tires Market Competitive Benchmarking
32. Global Green Tires Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Green Tires Market
34. Green Tires Market Future Outlook and Potential Analysis
35. Appendix
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