Automotive Green Tires Market: Global Key Vendors - Pirelli, Goodyear, Continental, Bridgestone, Michelin, Yokohama

Automotive Green Tires Market
The need for low emission transportation systems have led to the introduction of green tires in the automotive industry. A green tire is similar to a conventional tire but provides a lower rolling resistance, which results in better fuel economy and low emissions. This can be achieved with use precipitated silica during the manufacturing of green tires. Low rolling-resistance or "green" tires are made of rubber, silica, and carbon black, and consumption of silica in green tires is double the amount used in conventional tires.

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Market Leader – Passenger Cars
Passenger cars accounted for more than 75% of the vehicles sales, in 2017, of which a significant portion were equipped with green tires. Green tires are made of silica, which provides better rolling resistance, which, in turn, provides good fuel economy and also results in lesser emissions from vehicles. Precipitated silica has seen an average growth rate in the United States of 3.8% from 2013-2018 where much of that growth is linked directly to rubber applications, tires and footwear as the leading factors that are creating a silica boom. This clearly indicates the rise in demand for green tires and as passenger cars occupy the major share in vehicles market, the segment is anticipated to register the highest share in green tires market too.

Automotive Green Tires Market Key Industry Players:
Pirelli., Goodyear. , Continental. , Bridgestone., Michelin., Yokohama.

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Europe is Expected to Grow the Fastest
More than 20% vehicles sales are from the European countries, which makes it a strategic place for investments by many OEMs. Due to the stringent emission norms (EURO VI) in the region, vehicle manufacturers (like Volkswagen, BMW etc.) are opting for suppliers with components that help them meet those standards. Tires are an important aspect, in terms of reducing emissions and delivering good fuel economy. As the green tires concept has become popular in today’s world, European vehicle manufacturers are opting suppliers of such tires, which, in turn, increased the need for production of the same. Thus, a surge in the demand for such green tires is expected to grow the fastest in the region registering a CAGR of more than 7% during the forecast period
The market is segmented on the basis of vehicle type (passenger cars and commercial vehicles), End user (OEM and Aftermarket), and application (On road and Off road). The regional analysis covers major countries in North America (United States, Mexico, Canada, and Rest of North America), Europe (United Kingdom, France, Germany, Russia, Italy, and Rest of Europe), Asia-Pacific (India, China, Japan, and rest of Asia-Pacific), and Rest of the World (Brazil, South Africa, and others).

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