Press release
Implementation of Strict Emission Control Regulations to Impel Manufacturers towards Development of Eco-Friendly "Green Tires"
The study presents a comprehensive overview of the historical and projected growth of the global green tires market as well as its current scenario. It further provides information about the factors that are anticipated to drive or inhibit the growth of the global green tires market in the forthcoming years. The report also provides a detailed analysis of the volume and revenue growth estimated for all the segments of the global green tires market. According to the report, the rolling resistance of a tire is directly proportional to the amount of pollutant a vehicle releases. Thus, to decrease the level of emission caused by vehicles, the development of green tires is likely to gain pace.
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The report observes that as a result of the rising number of vehicles across the world, governments have issued stringent regulatory norms to control the emission levels. To meet the requirements of the mandatory quality standards, tire manufacturers are focusing on designing and conceptualizing environment friendly tires. Green tires control the amount of pollutants released from a vehicle by reducing the rolling resistance of a vehicle. Need for high handling efficiency is further expected to boost the demand for green tires.
The study further states that the demand for green tires is expected to expand owing to the rising population across the world coupled with the mounting number of cars. The burgeoning cost of energy is another factor driving the growth of the global green tires market. The increasing scarcity of non-renewable energy sources and natural petroleum reserves are likely to impel manufacturers to focus on product innovation and roll out high quality green tires over the upcoming years.
However, shortage of proper technology to build green tires is anticipated to hinder the growth of the global green tires. Seasonal traction capability and the high cost of raw materials are further expected to act as a barrier to the progress of the market. In order to combat these challenges, companies are increasing their efforts to decrease ecological footprint and are investing in research and development projects to develop efficient green tires.
View exclusive Global strategic Business report: http://www.transparencymarketresearch.com/green-tires-market.html
Geographically, North America and Europe are projected to jointly lead the global tires market until 2024. The prime companies involved in the manufacturing and marketing of green tires are Bridgestone, PPG Industries Inc., Michelin North America Inc., Pirelli Tyre S.p.A., and Goodyear Tire and Rubber Co.
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