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Green Tires Market: Know About Historical and current market size and projection up to 2025 with Major Competitors and Global Forecast to 2025
Global Green Tires Market
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Global Green Tires Market is expected to reach USD 141.26 million by 2025, from USD 62.42 million in 2017 growing at a CAGR of 10.5% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Key Market Competitors: Global Green Tires Market
The key players operating in the global green tires market are
• MICHELIN
• The Goodyear Tire & Rubber Company
• Continental AG
• Nokian Tyres plc.
• Apollo Vredestein
The other players in the market are Bridgestone India Private Ltd, Hankook Tire., Pirelli & C. S.p.A., CST., Sailun, LINGLONG TIRE, Kenda Tires., CRAIN COMMUNICATIONS, INC., Cooper Tire & Rubber Company, Yokohama Tire Corporation, Nexen, MRF, Petlas, Balkrishna Industries Limited (BKT), TOYO TIRE U.S.A. CORP. and many more.
Market Definition: Global Green Tires Market
Green tires or low rolling resistance tires are made up of renewable material such as nylon rubber, plasticizers and resins, which does not require an excessive amount of energy at the time of manufacturing. Although the conventional tires are made up of rubber, includes high energy concern. At present, environment-friendly raw materials tier is adopted over conventional rubber tiers because these are lighter than conventional tiers, which result in the reduction of the overall weight of the vehicle and consume less fuel and help the rolling resistance. The green tire market is expected to grow due to some advantages such as long-life, retreadable tires and government initiatives for green and clean environment. According to Industrial Trade Administration, in 2017, U.S. light vehicle sales reached 17.1 million units. In the same year, the U.S. exported almost 2.0 million new light vehicles and almost 130,000 medium and heavy trucks (valued at $63.2 billion) to more than 200 markets around the world, with additional exports of automotive parts valued at $85.6 billion. This above factor proves that the market of automobile sector around the globe is growing and will drive the demand for green tires.
Market Drivers:
• Fuel efficiency increases
• Consume less energy at the time of manufacturing.
• Environment-friendly and government initiative for green environment
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Market Segmentation: Global Green Tires Market
By Type
• On-Road
• Off-Road
By Material
• Natural rubber
• Synthetic rubber
• Polyester
• Nylon
• Plasticizers
• Resins
• Tire cord fabric
• others
By Application
• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Cars
• Others
By Geography
• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa
Key Insights in the report:
• Market trends impacting the growth of the global green tires market
• Analyze and forecast the green tires market on the basis of type, material, and application
• Trends of key regional and country-level markets for type, material, and application
• Company profiling of key players which includes business operations, product and services, geographic presence, recent developments and key financial analysis
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About Data Bridge Market Research:
Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market. Data Bridge endeavors to provide appropriate solutions to the complex business challenges and initiates an effortless decision-making process.
Contact:
Data Bridge Market Research
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Email: sopan.gedam@databridgemarketresearch.com
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