Green Tires Market continues to grow at a rapid pace as Michelin Group introduces its most low-carbon tire called e.Primacy through a virtual launch

Green Tires Market Forecast : Market Will Boom In Near Future

𝗥𝗲𝗽𝗼𝗿𝘁 𝗣𝗮𝗴𝗲𝘀: [130 Pages]

Green tires are simply tires that are designed and tested in such a way to use lesser amounts of water and natural resources. Green tires can be a wonderful thing when it comes to off-road driving. Since there is a collective focus on reducing carbon emission, automakers are laying significant emphasis on enhancing the fuel efficiency of their cars. For they are using lighter materials to reduce the weight of the car, which will eventually help in improving fuel efficiency. Green tires contribute to saving a non-renewable resource and reduce harmful emissions. Hence, such factors can potentially stimulate growth of the green tires market.

Recently, in November 2020, Michelin Group introduced its most low-carbon tire called e.Primacy through a virtual launch.

𝗚𝗼 𝗳𝗼𝗿 𝗺𝗼𝗿𝗲 𝗱𝗲𝘁𝗮𝗶𝗹 𝗶𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 𝗮𝗯𝗼𝘂𝘁 𝗚𝗿𝗲𝗲𝗻 𝗧𝗶𝗿𝗲𝘀 𝗠𝗮𝗿𝗸𝗲𝘁
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Rising carbon footprint remains one of the key challenges for the global population. Although there have numerous collective attempts to reduce this carbon footprint, more proactive decisions are required. Governments of many countries or states have taken major initiatives to curb carbon emission and promote a sustainable living environment. Recently, in September 2020, the State of California announced that it will phase out gasoline-powered cars, in order to move towards its zero-emission goal by 2035. In February 2021, the Government of Delhi announced that it will change its fleet of hired cars to electric vehicles (EVs) within the next six months. Such initiatives are boosting the demand for eco-friendly tires and thereby augmenting the green tires market.

𝐌𝐚𝐣𝐨𝐫 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐂𝐮𝐫𝐫𝐞𝐧𝐭 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲: Michelin, Bridgestone Corporation, The Goodyear Tire and Rubber Company, Hankook Tire Group, Pirelli & C. S.p.A., Cheng Shin Rubber, Kumho Tires, ZC Rubber Group Co. Ltd, Nokian Tires, and Apollo tires Ltd.

Every year, several hundred tons of used tires are salvaged from the roadside by drivers who need them for various reasons. In most cases, the drivers simply place them on their vehicles so that they can continue to drive their usual tires until such time that they can get to the nearest tire repair facility. Even though there is high demand for green tires, low awareness, especially in emerging economies remains one of the major barriers in this market. Besides, lack of technological know-how regarding the deployment of green tires could potentially limit growth of the green tires market.

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Recycled tires are perfect for city streets, particularly narrow ones like those found in the median of busy streets in big cities. Another great use for recycled tires is on rural highways. These can help reduce tire tread wear because of their low traction, making them ideal for smooth riding on dirt roads. When it comes to geographical impact, Europe seems to be gaining significant traction in the green tires market since there are stringent government regulations related to installing green tires. With a steady rise in vehicle sales, the demand for eco-friendly tires is likely to surge in the near future. On the contrary, North America is exhibiting assuring signs since there is a strong presence of prominent car manufacturers such as Ford, GM, and Chevrolet.

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