Press release
Electric Vehicle Surge Fuels Expansion of Automotive Green Tires Market: A Key Driver Powering Automotive Green Tires Market Growth In 2025
Automotive Green Tires Market Size
What Is the Current Automotive Green Tires Market Size and Its Estimated Growth Rate?
The automotive green tires market size has shown strong growth in recent years. It will grow from $10.95 billion in 2024 to $11.83 billion in 2025, at a CAGR of 8.1%. This growth can be attributed to regulatory pressures to reduce emissions, advancements in tire technology, increased consumer awareness about the environment, higher fuel efficiency standards, and the shift toward hybrid and electric vehicle adoption.
The automotive green tires market will grow to $15.98 billion by 2029, at a CAGR of 7.8%, driven by smart city growth, EV adoption, and sustainable practices. Key trends include tighter emissions rules, battery tech improvements, and expansion of charging networks.
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How Are Emerging Segments Shaping the Automotive Green Tires Market Landscape?
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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Which Growth Factors Are Influencing Automotive Green Tires Market Expansion?
The growing adoption of electric vehicles is expected to propel the growth of the automotive green tires market. Electric vehicles, known for their environmental benefits and efficient performance, require automotive green tires that minimize environmental impact and enhance energy efficiency. For instance, in July 2023, the Electric Vehicle Council reported a 269% increase in EV sales in Australia during the first half of 2023. Therefore, the growing adoption of electric vehicles is driving the growth of the automotive green tires market.
Who Are the Dominant Players Across Different Automotive Green Tires Market Segments?
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
What Automotive Green Tires Market Trends Are Gaining Traction Across Different Segments?
Companies in the automotive green tire market are innovating sustainable tires that enhance both environmental sustainability and performance. These tires are made from advanced materials designed to reduce environmental impact. In March 2024, GRI Tires, a Sri Lanka-based manufacturer, released the GREEN XLR EARTH series and ULTIMATE GREEN XT tires, with up to 93.5% sustainable material content. The Ultimate Green XT includes 86.4% bio-sourced and recycled materials.
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Which Geographic Regions Are Expected to Dominate the Automotive Green Tires Market in the Coming Years?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automotive Green Tires Market?
2. What is the CAGR expected in the Automotive Green Tires Market?
3. What Are the Key Innovations Transforming the Automotive Green Tires Industry?
4. Which Region Is Leading the Automotive Green Tires Market?
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