Green Tires Market to Perceive Excellent CAGR of 9.9%, to reach at USD 25.84 billion Globally by 2029 - MICHELIN, Continental AG, Bridgestone Corporation

Exactitude Consultancy Market Research analyses that the Green Tires Market will witness a CAGR of 9.9% for the forecast period of 2023-2029 and is likely USD 14.56 billion in 2022 to reach at USD 25.84 billion in 2029.

The tire is a vital vehicle element that includes the wheel's rim to protect it and allow better vehicle performance. Tires render friction between the vehicle and road while implementing a flexible cushion bed to receives shock. Tires are generally made of rubber. Green tires were produced with a focus on fuel effectiveness. Green tires include various components and various types of rubber, which all have their own excellent qualities. Green tire as a term relates to an innovative class of environmentally friendly rubber that is being entered into the market.

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Green Tires Market Dynamics

Drivers

Increasing environmental concerns and regulations

One key driver of the global green tires market is the increasing environmental concerns and regulations. As governments and regulatory bodies focus on reducing carbon emissions and promoting sustainable practices, there is a growing demand for green tires that offer improved fuel efficiency and lower rolling resistance. This driver is propelling the adoption of green tires in various industries and driving market growth.

Restraints

High initial cost compared to conventional tires

One key restraint of the global green tires market is the higher initial cost compared to conventional tires. Green tires often incorporate advanced materials and technologies to achieve their eco-friendly properties, which can result in a higher manufacturing cost. This cost is then passed on to consumers, making green tires relatively more expensive than conventional options. The higher price point can act as a deterrent for price-sensitive consumers, limiting the widespread adoption of green tires. However, as technology advances and economies of scale come into play, the cost barrier is expected to gradually decrease over time.

Prominent Key players of the Green Tires Market survey report:

Historical data available in the report elaborates on the development of the Green Tires on national, regional and international levels. Market Research Report presents a detailed analysis based on the thorough research of the overall market, particularly on questions that border on the market size, growth scenario, potential opportunities, operation landscape, trend analysis, and competitive analysis. Some Key Competitors of the Market are - MICHELIN, Continental AG, Bridgestone Corporation, Pirelli & C. S.p.A, The Goodyear Tire & Rubber Company, Hankook Tire & Technology, The Yokohama Rubber Co. Ltd., Petlas, Kumho Tire, and MRF.

Recent Developments

In February 2023, Petlas announced the launch of the Green PT925 tire, designed for commercial vehicles, offering reduced fuel consumption and improved durability for eco-conscious fleets.

In September 2022, The Goodyear Tire & Rubber Company unveiled the Assurance ComfortDrive, a green tire featuring advanced technologies for reduced rolling resistance, improved fuel efficiency, and enhanced ride comfort.

In April 2022, Continental AG announced the expansion of its tire portfolio with the launch of the EcoContact 7, a green tire designed to enhance fuel efficiency and reduce CO2 emissions.

In March 2022, Bridgestone Corporation introduced the Ecopia H/L 001 tire, a green tire designed for SUVs and CUVs, offering improved fuel efficiency and reduced environmental impact.

Green Tires Market Segmentation:

Green Tires Market By Vehicle Type, 2023-2029, (USD Billion)

Passenger Cars

Light Commercial Vehicles (LCVS)

Others

Heavy Trucks

Buses & Coaches

Two Wheelers

Green Tires Market By Tire Size, 2023-2029, (USD Billion)

Below 15″

16″

17″

18″

19″

Above 19″

Green Tires Market By Sales Channel, 2023-2029, (USD Billion)

OEM

Aftermarket

Green Tires Market By Application, 2023-2029, (USD Billion)

On-Road

Off-Road

The regional outlook by revenue covers the countries namely:

✦ North America (United States, Canada and Mexico)

✦ Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)

✦ Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)

✦ South America (Brazil, Argentina, Colombia, and Rest of South America)

✦ Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

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Key Features of the Green Tires Market Report: -

⇨  Analyse competitive developments such as expansions, deployments, new product launches, and market acquisitions.

⇨  Examine the market opportunities for stakeholders by identifying higher growth sections.

⇨  To study and analyse the global Green Tires industry status and forecast including key regions.

⇨  An in-depth analysis of key product segments and application spectrum, providing strategic recommendations to incumbents and new entrants to give them a competitive advantage over others.

⇨  It provides a comprehensive analysis of key regions of the industry as well as a SWOT analysis and Porter's Five Forces analysis to provide a deeper understanding of the market.

⇨  It helps you make strategic business decisions and investment plans.

Competitive Landscape

Competition has been growing for the Green Tires industry as the supply and demand has been on an increasing trend sine past decade. This report gives a detailed analysis of the presence of various small, medium and micro enterprises in the industry of numerous scales, their relative sizes, product offerings, and market positions in the pre and post pandemic situations. Additionally, the report provides an overview of the competitor strategy with regards to business and corporate office and functions have been provided. The report also mentions about the operations, technology infrastructure, marketing strategies and financial capabilities. Thus, the report gives a very good understanding of the market to the shareholders and stakeholders from an overall perspective.

Highlight the Following Key Factors:

► Business Description: a particular description of agency operations and enterprise departments.

► Company Strategy: The analyst's precis of the company's commercial enterprise strategy.

► SWOT Analysis: Detailed evaluation of the company's strengths, weaknesses, opportunities, and threats.

► Company History: The development of predominant occasions associated to the company.

► Main merchandise and services: A listing of the company's fundamental products, services, and brands.

► Main Competitors: A listing of the company's fundamental competitors.

► Important places and subsidiaries: The company's major places and subsidiaries' listing and contact information.

► Detailed economic ratios of the previous 5 years: The trendy monetary ratios come from the annual economic statements issued by means of agencies with a record of 5 years.

Table of Contents

Global Green Tires Market Research Report 2023-2029

1 Green Tires Market Overview

1.1 Product Overview and Scope of Green Tires

1.2 Green Tires Segment by Type (Product Category)

1.3 Global Green Tires market Segment by Application

1.4 Global Green Tires Market by Region (2023-2029)

1.4.1 Global Green Tires Market Size (Value) and CAGR (%) Comparison by Region (2023-2029)

1.4.2 North America Status and Prospect (2023-2029

1.4.3 Europe Status and Prospect (2023-2029)

1.4.4 China Status and Prospect (2023-2029)

1.4.5 Japan Status and Prospect (2023-2029)

1.4.6 Southeast Asia Status and Prospect (2023-2029)

1.4.7 India Status and Prospect (2023-2029)

1.5 Global Market Size (Value) of Green Tires (2023-2029)

1.5.1 Global Green Tires Revenue Status and Outlook (2023-2029)

1.5.2 Global Green Tires Capacity, Production Status and Outlook (2023-2029)

…

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Thank you for your interest in the Green Tires Market research publications; you can also get individual chapters or regional/country report versions such as Germany, France, China, Latin America, GCC, North America, Europe or Asia.

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