Electric Vehicle Surge Fuels Expansion of Automotive Green Tires Market Driver: A Major Catalyst in the Evolution of the Automotive Green Tires Market in 2025

How Is the Automotive Green Tires Market Projected to Grow, and What Is Its Market Size?
The size of the automotive green tires market has seen robust growth in the previous years. It is estimated to expand from $10.95 billion in 2024 to $11.83 billion in 2025, growing at a compound annual growth rate (CAGR) of 8.1%. This progress in the historical period could be accredited to the reinforced regulations aimed at minimizing emissions, the enhancement in tire technology, an escalation in consumer environmental consciousness, the rising standards of fuel efficiency, the increase in the acceptance of hybrid and electric vehicles, an upsurge in oil prices, and a shift in the automotive industry towards sustainable practices.

The market size for green tires in the automotive sector is projected to witness robust expansion in the upcoming years, hitting a grand value of $15.98 billion in 2029, escalating at a compound annual growth rate (CAGR) of 7.8%. The growth trend throughout the forecast span can be linked to the evolution in autonomous driving technology, the emergence of smart cities, rising urbanization, the shift towards electric vehicles, and development in alternative sustainability throughout a product's lifespan. Expected trends in the forecast duration encompass heightened consumer knowledge and demand, stricter emission standards being enforced worldwide by governments, advancements in battery technology, and a broadening charging setup.

What Factors Are Propelling the Expansion of the Automotive Green Tires Market?
The advancement and rise in the uptake of electric vehicles is forecasted to drive the expansion of the automotive green tires market. Electric vehicles are cars that utilize either solely or partially rechargeable batteries for power instead of internal combustion engines. Factors such as technological advancements, environmental awareness, governmental incentives, and falling costs have contributed to the increased adoption of electric vehicles (EVs). To optimize range efficiency and diminish environmental repercussions by decreasing rolling resistance and making use of eco-friendly materials, automotive green tires are used in electric vehicles. As an illustration, the Electric Vehicle Council, an Australian national organization for the EV industry, stated that EV sales in Australia showed a significant boost in the first half of 2023, exceeding the total sales of the whole of 2022. By the end of June 2023, there had been 46,624 EVs sold, an outstanding rise of 269% compared to the same six months in 2022. This puts EVs at 8.4% of all new vehicle sales in Australia, a substantial hike of 120.5% from the last year. Consequently, the increasing uptake of electric vehicles is catalyzing the expansion of the automotive green tires market.

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Who Are the Major Industry Players Fueling Automotive Green Tires Market Expansion?
Major companies operating in the automotive green tires market are Bridgestone Corporation, Continental AG, Michelin, Goodyear Tire and Rubber Company, Maxxis International Inc., Sumitomo Rubber Industries Ltd., Giti Tire Pte Ltd, Pirelli & C.S.p.A, Hankook Tire & Technology Co. Ltd., Yokohama Rubber Company, MRF Tyres, Apollo Tyres Limited, Cooper Tire & Rubber Co, Kumho Tire, Nexen Tire Corp, CEAT Limited, Nokian Tyres plc, The Triangle Group, Linglong Americas Inc, Zhongce Rubber Group

Which Key Developments Are Influencing the Automotive Green Tires Market?
Leading companies in the automotive green tire market are focusing on the creation of inventive products like next-generation sustainable tires, providing customers with more eco-friendly choices. These new age sustainable tires are sophisticatedly designed using groundbreaking materials and techniques to promote environmental sustainability, along with enhanced performance and efficiency. For example, GRI Tires, an industrial tire producer based in Sri Lanka, introduced the GREEN XLR EARTH series and ULTIMATE GREEN XT tires in March 2024. These products have a significant percentage of sustainable material content - The Green XLR Earth series designed for agricultural use includes 87.3% sustainable materials, while the Ultimate Green XT designed for material handling incorporates an impressive 93.5% sustainable content. The Ultimate Green XT notably consists of 86.4% bio-sourced and recycled materials without using carbon black in the tread compound, lessening abrasion loss and particle emissions to the environment.

How Is the Segmentation of the Automotive Green Tires Market Defined?
The automotive green tires market covered in this report is segmented -

1) By Type: Bias Tire, Radial Tire
2) By Material: Silica, Low-Aromatic Oils, Synthetic Rubber, Natural Rubber, Other Materials
3) By Propulsion Types: Electric, Hybrid, Plug-In Hybrid Electric Vehicles (PHEVs), Fuel Cell Electric Vehicles (FCEVs), Other Propulsion Types
4) By End Users: Individual Consumers, Fleet Operators, Original Equipment Manufacturers (OEMs), Other End Users

Subsegments:
1) By Bias Tire: Bias Ply Tires For Passenger Vehicles, Bias Ply Tires For Commercial Vehicles, Bias Ply Tires For Off-Road Vehicles, Bias Ply Tires For Agricultural Vehicles
2) By Radial Tire: Radial Tires For Passenger Cars, Radial Tires For Light Commercial Vehicles (Lcvs), Radial Tires For Heavy Commercial Vehicles (Hcvs), Radial Tires For Trucks And Buses, Radial Tires For Electric Vehicles (Evs)

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What Is the Leading Region in the Automotive Green Tires Market?
North America was the largest region in the automotive green tires market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive green tires market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Automotive Green Tires Global Market Report?

- Market Size Analysis: Analyze the Automotive Green Tires Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Automotive Green Tires Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Automotive Green Tires Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Automotive Green Tires Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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