Automotive Green Tires Industry Set to Achieve $15.26 Billion Milestone by 2029 | Steady 6.9% CAGR

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What Is the Long-Term Growth Forecast for the Automotive Green Tires Market Size 2025?
The market size of the green tires in the automotive industry has experienced robust growth in the past years. The market, which was valued at $10.95 billion in 2024, is projected to reach $11.68 billion in 2025, growing at a compound annual growth rate (CAGR) of 6.7%. Factors including regulatory pressures for lowering emissions, advanced tire technologies, rising environmental consciousness among consumers, enhanced fuel efficiency standards, the increasing trend of adopting hybrid and electric vehicles, higher oil prices, and the automotive sector's move towards sustainable practices have all contributed to the growth witnessed during the historic period.

What CAGR is Forecasted for the Automotive Green Tires Market Through 2029?
Expectations are high for a robust expansion in the automotive green tires market in the coming years. The market is projected to increase its value to $15.26 billion by 2029, witnessing a compound annual growth rate (CAGR) of 6.9%. Several factors contributing to this growth during the forecast period are advancements in autonomous driving technology, the emergence of smart cities, escalating urbanization, a growing preference for electric vehicles, and progress in producing sustainable lifecycle alternatives. Furthermore, increased consumer awareness and demand, imposition of more stringent emission norms by governments globally, advances in battery technology, and the development of charging infrastructure are founding major trends during the estimated period.

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What Are the Critical Factors Driving Automotive Green Tires Market Development?
The rise in electric vehicle usage is anticipated to boost the progression of the automotive green tires market. These electric vehicles, either entirely or partially run by electrical energy stocked in rechargeable batteries instead of internal combustion engines. The uptake of electric vehicles has been on a rise owing to technological improvements, environmental issues, governmental initiatives, and lowering costs. Electric vehicles employ green tires for better range effectiveness and to lower environmental harm due to decreased rolling resistance and the use of environment-friendly elements. For example, as stated by the Electric Vehicle Council, a nationwide entity for the electric vehicle industry based in Australia, the sales of electric vehicles in Australia saw a dramatic increase in the first half of 2023, exceeding the total sales for all of 2022. At the close of June 2023, there had been sales of 46,624 EVs, a significant increase of 269% compared to the same period in 2022. This surge pushed EVs to represent 8.4% of all new vehicle sales in Australia, a considerable rise of 120.5% from the previous year. Hence, the escalating adoption of electric vehicles is fuelling the expansion of the automotive green tires market.

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How Does the Automotive Green Tires Market Break Down Across Major Segments?
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)

What Are the Major Trends Transforming the Automotive Green Tires Industry?
In the sphere of the auto green tire market, leading businesses are pioneering new products like next-generation sustainable tires, providing customers with eco-friendly alternatives. These advanced sustainable tires are ingeniously manufactured with the latest materials and techniques to ameliorate environmental conservation, performance, and efficiency. For example, in March 2024, GRI Tires, a company based in Sri Lanka specializing in industrial tire production, introduced its GREEN XLR EARTH series and ULTIMATE GREEN XT tires which stand out for their substantial sustainability content. The Green XLR Earth series, suited for agriculture, is formed with 87.3% sustainable components, while the Ultimate Green XT, designed for material handling, contains an impressive 93.5% sustainable material. It's worth noting that the Ultimate Green XT is made with 86.4% bio-originated and recycled materials, along with a tread compound using high dispersible silica minus carbon black, thereby decreasing wear and tear and particulate matter emission into the atmosphere.

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Which Players Are Driving Innovation in the Automotive Green Tires Market?
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 Regions Are Driving Global Automotive Green Tires Market Expansion?
North America was the largest region in the automotive green tires market in 2024. 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.

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