What's the next big thing in the Low Rolling Resistance Tire Market...? Apollo Tyres Ltd., Michelin SCA, The Goodyear Tyre and Rubber Company
Some of the key players active in the global low rolling resistance tire market are Apollo Tyres Ltd., Michelin SCA, Maxxis International, The Goodyear Tyre and Rubber Company, Bridgestone Corporation, Yokohama Rubber Company, Pirelli & C. SpA, Continental AG, Cooper Tyre & Rubber Co., Sumitomo, Trelleborg AB, and Hankook Tyre Worldwide Co. Ltd., among others.
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Since the tire replacement rate continues to be high, aftermarket is dominating over OEMs in terms of sales of low rolling resistance tires.
Low rolling resistance tires with wide band width will remain more preferred, accounting for almost 25% share of the total sales.
In line with the increasing significance of reduced or zero carbon footprint, organizations such as the SmartWay Transport Partnership (US) will prominently continue to focus on transportation and logistics management in a sustainable manner. This and more such establishments are likely to drive the demand for low rolling resistance tires in the market, says the report.
Commercial Vehicles Lead in Terms of Generating Low Rolling Resistance Tire Demand
By vehicle type, heavy commercial vehicles will reportedly account for almost half of the global low rolling resistance market revenue that has been estimated through 2028. As commercial vehicles cover longer distances on a daily basis, fuel and cost efficiency will remain the most important factors associated with them, particularly HCVs, thereby favoring adoption of fuel efficient automotive components such as low rolling resistance tires.
Visibly increasing consumer shift towards commercial vehicles for long distance travel is estimated to amplify the sales volume of low rolling resistance tires in the near future. Moreover, since HCV tires tend to experience more wear and tear, translating into a higher replacement rate, sales of low rolling resistance tires are likely to remain higher in this segment – according to FMI’s analysis.
Europe Accounts for Nearly 25% of Low Rolling Resistance Tire Market
Europe is estimated to hold about one-fourth share in the global low rolling resistance tire market owing to rapidly growing implementation of the sustainable regulatory framework that prominently cover automotive components manufacturing. Low rolling resistance tire market in China and India is likely to demonstrate promising growth owing to improving economies, increasing vehicle parc, and tightening fuel consumption and emission regulations.
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The tire industry is highly competitive owing to the presence of several established players, building a fairly consolidated landscape for low rolling resistance tire market. Over half of the market value is accounted by organized players, according to FMI’s research on the global low rolling resistance tire market.
Low Rolling Resistance Lrr Tire Market Reports - Table of Contents
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Taxonomy
2.2. Market Definition
3. Market Background
3.1. Macro-Economic Factors
3.2. Forecast Factors – Relevance & Impact
3.3. Value Chain
3.4. Market Dynamics
3.4.3. Opportunity Analysis
4. Market Forecast
4.1. Global Low Rolling Resistance (LRR) Tire Market (Market Size US$ Mn) Analysis
4.1.1. Historical Market Value (US$ Mn) Analysis
4.1.2. Current and Future Market Value (US$ Mn) Projections
18.104.22.168. Y-o-Y Growth Trend Analysis
22.214.171.124. Absolute $ Opportunity Analysis
4.2. Pricing Analysis
4.2.1. Pricing Analysis By Vehicle Type
4.2.2. Pricing Analysis By Region
5. Global Low Rolling Resistance (LRR) Tire Market Analysis By Vehicle Type
5.1.1. Market Value Share Analysis By Vehicle Type
5.1.2. Y-o-Y Growth Analysis By Vehicle Type
5.2. Historical Market Size and Volume Analysis By Vehicle Type 2013–2017
5.3. Market Size and Volume Forecast By Vehicle Type 2018–2028
5.3.1. Passenger Cars
5.3.2. Light Commercial Vehicle (LCV)
5.3.3. Heavy Commercial Vehicle (HCV)
5.4. Market Attractiveness Analysis By Vehicle Type
6. Global Low Rolling Resistance (LRR) Tire Market Analysis By Width Type
6.1.1. Market Value Share Analysis By Width Type
6.1.2. Y-o-Y Growth Analysis By Width Type
6.2. Historical Market Size and Volume Analysis By Width Type 2013–2017
6.3. Market Size and Volume Forecast By Width Type 2018–2028
6.3.1. Dual Type
6.3.2. Wide Band Type
6.4. Market Attractiveness Analysis By Width Type
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