Latest Market Report | Green Tires Market Size Projected to Reach US$ 71.7 Billion by 2030, Driven by Growing Demand for Sustainable Mobility

The global green tires market is expected to reach US$ 71.7 billion by 2030, with an annual growth rate of more than 8.7%.

According to RationalStat's most recent industry analysis, the Global Green Tires Market value is estimated at US$ 36.8 billion in 2023 and is expected to rise at a strong CAGR of over 8.7% over the forecast period of 2023-2030.

Market Definition, Market Scope, and Report Overview

Green tires, also known as eco-friendly or environmentally friendly tires, are tires that are created with sustainability and decreased environmental effects in mind throughout their life cycle. These tires were created to address issues such as raw material procurement, manufacturing procedures, energy efficiency, and end-of-life disposal.

Green tires' lower rolling resistance improves fuel efficiency, resulting in cost savings for car owners. This economic advantage appeals to consumers and fleet operators, propelling global adoption of green tires.

According to a deep-dive market assessment by RationalStat, the global green tires market has been analyzed on the basis of market segments, including type, application, vehicle type and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.

• Market intelligence for the global green tires market covers market sizes on the basis of market value (US$/EUR Million), volume (Thousand units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
• In addition, the long-term sector and products/services 10-year outlook and its implications on the global Green Tires market. It also includes the industry's current state - Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.

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Global Green Tires Market: Segmental and Market Share Analysis
• On the basis of type, on-road tires segment is anticipated to grow as a result of the rising demand for on-road vehicles, including passenger cars and LCVs.
Report Synopsis
Report Metrics Details
Base Year 2023
Forecast Period 2023-2030
Base Year Market Size US$ 36.8 billion
Market Size Forecast US$ 71.7 billion
Growth Rate 8.7%
Dominant Segment On-road Tires
Dominant Region North America

Key Market Drivers
• Reduced rolling resistance
• Government regulations and emission standards
• Consumer awareness and preferences

Companies Profiled
• Bridgestone Corporation
• Michelin Group
• Continental AG
• Goodyear Tire & Rubber Company
• Pirelli & C. SpA
• Yokohama Rubber Company Limited
• Hankook Tire Co., Ltd.
• Sumitomo Rubber Industries, Ltd.
• Toyo Tire & Rubber Co., Ltd.
• Zhongce Rubber Group Co., Ltd.

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Competition Analysis and Market Structure

Some leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global green tires market include.
• In June 2022, Continental AG introduced VanContract Ultra tires for passenger and commercial vehicles, which have a strong design and low rolling resistance.

Some of the prominent players and suppliers operating and contributing significantly to the global green tires market growth include Bridgestone Corporation, Michelin Group, Continental AG, Goodyear Tire & Rubber Company, Pirelli & C. SpA, Yokohama Rubber Company Limited, Hankook Tire Co., Ltd., Sumitomo Rubber Industries, Ltd., Toyo Tire & Rubber Co., Ltd., and Zhongce Rubber Group Co. Ltd., among others.

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RationalStat has segmented the global green tires market based on type, application, vehicle type and region
• Global Green Tires Market Value (US$ Million), Volume (Thousand units) and Market Share (2019-2030) Analysis by Type
o On-road Tires
o Off-road Tires
• Global Green Tires Market Value (US$ Million), Volume (Thousand units) and Market Share (2019-2030) Analysis by Application
o Passenger Cars
o Commercial Vehicles
o Off-road Vehicles
• Global Green Tires Market Value (US$ Million), Volume (Thousand units) and Market Share (2019-2030) Analysis by Vehicle Type
o Passenger Cars
o Commercial Vehicles
 Trucks
 Buses
o Two-Wheelers
 Motorcycles
 Scooters
o Electric and Hybrid Vehicles
• Global Green Tires Market Value (US$ Million), Volume (Thousand units) and Market Share (2019-2030) Analysis by Region
o North America Green Tires Market Value (US$ Million), Volume (Thousand units) and Market Share (2019-2030) Analysis by Country
 US
 Canada
o Latin America Green Tires Market Value (US$ Million), Volume (Thousand units) and Market Share (2019-2030) Analysis by Country
 Brazil
 Mexico
 Rest of Latin America
o Western Europe Green Tires Market Value (US$ Million), Volume (Thousand units) and Market Share (2019-2030) Analysis by Country
 Germany
 UK
 France
 Spain
 Italy
 Benelux
 Nordic
 Rest of Western Europe
o Eastern Europe Green Tires Market Value (US$ Million), Volume (Thousand units) and Market Share (2019-2030) Analysis by Country
 Russia
 Poland
 Hungary
 Other CIS Countries
 Rest of Eastern Europe
o Asia Pacific Green Tires Market Value (US$ Million), Volume (Thousand units) and Market Share (2019-2030) Analysis by Country
 China
 Japan
 India
 South Korea
 Australia
 ASEAN
• Indonesia
• Thailand
• Philippines
• Vietnam
• Malaysia
• Rest of ASEAN
 Rest of Asia Pacific
o Middle East & Africa Green Tires Market Value (US$ Million), Volume (Thousand units) and Market Share (2019-2030) Analysis by Country
 GCC
• Saudi Arabia (KSA)
• United Arab Emirates (UAE)
• Rest of the GCC
 South Africa
 Nigeria
 Turkey
 Rest of the Middle East & Africa

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Key Questions Answered in the Green Tires Report:
• What will be the market value of the global Green Tires market by 2030?
• What is the market size of the global Green Tires market?
• What are the market drivers of the global Green Tires market?
• What are the key trends in the global Green Tires market?
• Which is the leading region in the global Green Tires market?
• What are the major companies operating in the global Green Tires market?
• What are the market shares by key segments in the global Green Tires market?

Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts' viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
• Defining the problem by understanding the type of market and data required by the client.
• Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
• Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
• Evaluating and analyzing the data by referring to data sources utilized and leveraged.
• Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

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