Press release
Green Tires Market Key Players Analysis of 2018 to 2025: MICHELIN, The Goodyear Tire & Rubber Company, Continental AG, Nokian Tyres plc., Apollo Vredestein, Hankook Tire
Global Green Tires Market
Data Bridge Market Research Adds “Global Green Tires Market - Industry Trends and Forecast to 2024” new report to its research database. The report spread No of Pages: 350 No of Figures: 60 No of Tables: 220 in it.
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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.
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.
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
• 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.
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Market Drivers:
• Fuel efficiency increases
• Consume less energy at the time of manufacturing.
• Environment-friendly and government initiative for green environment
Competitive Landscape: Global Green Tires Market
The global green tires market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of green tire for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
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
This report focuses on the Green Tires in Global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.
Access full in-depth Information about Report: https://databridgemarketresearch.com/reports/global-green-tires-market/
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.
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