Low Rolling Resistance Tire Market to See Amazing Growth Soon

The latest survey on Low Rolling Resistance Tire Market is conducted to provide hidden gems performance analysis of Low Rolling Resistance Tire to better demonstrate competitive environment. The study is a mix of quantitative market stats and qualitative analytical information to uncover market size revenue breakdown by key business segments and end-use applications. The report bridges the historical data from 2019 to 2023 and forecasted till 2030. The outbreak of the latest scenario in «keyword» market has made companies uncertain about their future outlook as the disturbance in the value chain has made a serious economic slump. Some are the key & emerging players that are part of the coverage and profiled in the study are Bridgestone Corporation (Japan), The Goodyear Tire & Rubber Company (United States), Sumitomo Rubber Industries, Ltd (Japan), Pirelli & C. S.p.A. (Italy), Hankook Tire & Technology (South Korea), MICHELIN (France), Continental AG (Germany), Trelleborg AB (publ) (Sweden), The Yokohama Rubber Co. Ltd (Japan), APOLLO TYRES LTD (India), Maxxis International-USA. (United States), Marangoni S.p.A (Italy), MRF Limited (India), Cooper Tire & Rubber Company (United States), Toyo Tire & Rubber Co. Ltd. (Japan), KUMHO TIRE (South Korea), Nokian Tyres plc. (Finland), Others

According to HTF Market Intelligence, the Global Low Rolling Resistance Tire Market size is estimated to be around USD Million in 2023 and is expected to grow at a CAGR of 12.5% to reach USD Million by 2030.

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Low Rolling Resistance Tire Market Overview
Low rolling resistance tires are designed to minimize energy loss as the tire rolls, thereby reducing the rolling effort and improving fuel efficiency. They are commonly used in electric and fuel-efficient vehicles.
Market Trends
A new trend emerges in the field of tire production and that is to produce tires known as "green tires" which are not only low rolling tires but also made from sustainable resources and processes. Firms are spending a lot on eco-friendly manufacturing operations. With the sensors and IoT getting more connected with tires. Smart tires transmit on-the-spot data about tire performance, like rolling resistance, which benefit the drivers and fleet managers to enhance driving performance and maintenance of their vehicles. This balancing act results in tires that excel at low rolling resistance, high safety, and superior performance. High performance tires are now essentially a standard fixture of luxury and sports cars. The market is growing as more and more customers understand the advantages of low rolling resistance tires. Consumers are becoming aware of the fact that such tires can reduce the fuel cost as well as minimize environmental hazards.
Market Drivers
Countries across the world impose strict fuel efficiency and emissions standards. Accordingly, there is a growing trend towards buying low rolling resistance tires as they decrease fuel consumption and lessen CO2 emissions. Less rolling resistance encircles fuel savings, making these tires a viable option for both individual consumers and fleet operators seeking to cut down on their operating costs. Development of tire materials, i.e. the use of silica in tire treads, allow for better rolling resistance without the need to compromise on traction and toughness. Today's tire patterns and structures are heavily influenced by advanced tire design principles and manufacturing techniques, which provide more efficient rolling resistance. EV manufacturers have a particular interest in low rolling resistance tires as those improve the driving range of electric vehicles, which is one of the key factors of EV adoption. The growing global automotive manufacture, in particular in the developing countries accelerates the need for all types of tires with low rolling resistance.

Market Opportunities:
Continuously developing new materials, for example, advanced silica composites and the next generation of polymers can bolster tire performance with rolling resistance reduction but will still retain or improve other attributes. The implementation of new manufacturing techniques help to cut costs and improve the production efficiency of low rolling resistance tires as well. Correspondingly, the stricter fuel economy and emission norms worldwide are leading to the use of low rolling resistance tire by the people. Governments also provide support to eco-friendly technologies through incentives. Policies that lower carbon footprints and lead to green practices can improve market demand. Low rolling resistance tires are one of the main factors extending electric vehicles' range and they are the desirable choice for EV manufacturers and consumers. As the number of EVs on the roads increases, the demand for tires that can help maximize battery efficiency will rise considerably, providing a really big chance for market growth.

Low Rolling Resistance Tire Market Segmentation

Market Analysis by Types: Bias, Radial, Tubeless, Tube, Others

Market Analysis by Applications: On-Road, Off Road

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Important Features that are under offering & key highlights of the Low Rolling Resistance Tire market report:
1. Why lots of Key players are not profiled in the Study?
--> The market study is surveyed by collecting data from various companies from Low Rolling Resistance Tire industry, and the base for coverage is NAICS standards. However, the study is not limited to profiling only a few companies; connect with sales executives to get a customized list. The standard version of the research report is listed with players like Bridgestone Corporation (Japan), The Goodyear Tire & Rubber Company (United States), Sumitomo Rubber Industries, Ltd (Japan), Pirelli & C. S.p.A. (Italy), Hankook Tire & Technology (South Korea), MICHELIN (France), Continental AG (Germany), Trelleborg AB (publ) (Sweden), The Yokohama Rubber Co. Ltd (Japan), APOLLO TYRES LTD (India), Maxxis International-USA. (United States), Marangoni S.p.A (Italy), MRF Limited (India), Cooper Tire & Rubber Company (United States), Toyo Tire & Rubber Co. Ltd. (Japan), KUMHO TIRE (South Korea), Nokian Tyres plc. (Finland), Others

2. Does the Scope of the Market Study allow further Segmentation?
---> Yes, for a deep dive analysis add-on segmentation is applicable in a premium customized version of the report to better derive market values. The standard version of this report covers segmentation by Application [On-Road, Off Road ], by Type [Bias, Radial, Tubeless, Tube, Others], and by regions [In North America, In Latin America, Europe, The Asia-pacific, Middle East and Africa (MEA), What are the main countries covered , The United States, Canada, Germany, France, UK, Italy, Russia, China, Japan, Korea, Southeast Asia, India, Australia, Brazil, Mexico, Argentina, Chile, Colombia, Egypt, Saudi Arabia, United Arab Emirates, Nigeria & South Africa]

3. What level of granularity would the Country landscape cover?
---> In the premium version of the report, two-level of regional segmentations allow user to have access to a country-level break-up of market Size by revenue and volume*
* Wherever applicable

4. Does the Study also provide insights into macroeconomic factors?
---> Yes, the study also includes market factor analysis that includes macroeconomic factors, the inflationary cycle and its impact, and Russia-Ukraine war analysis and its effect on the value/supply chain.

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HTF MI provides customized studies specific to regional and country-level reports for the following areas.
• North America: United States, Canada, and Mexico.
• South & Central America: Argentina, Chile, and Brazil.
• Middle East & Africa: Saudi Arabia, UAE, Turkey, Egypt, and South Africa.
• Europe: the United Kingdom, France, Italy, Germany, Spain, and Russia.
• Asia-Pacific: India, China, Japan, South Korea, Indonesia, Singapore, Australia, etc.

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