Global Green Tyre Market To Witness Remarkable Growth With USD 182.31 Billion USD in 2027

October 2021 | Report Format: Electronic (PDF)

Green Tyres market is expected to witness substantial growth over the forecast period. Green tyres may use plasticizers such as silica and silane, as well as resins that are tightly bonded in the tread block, which maintains road safety during rains and conserves energy while driving, lowering rolling resistance and carbon emissions. Silica in tyres also improves the responsiveness and steering ability of tyres under pressure.  a variety of severe weather conditions These tyres have also been shown to improve fuel economy & better traction on slippery roads

Rising energy costs, strict government regulations, and increased environmental consciousness among consumers about fuel economy, as well as a desire for improved handling and safety, are some of the key factors driving the growth of the green tyre market. Widespread replacement of fossil materials with renewable raw materials is not always a viable option because it necessitates acreage that could otherwise be used for food production. The process engineering involved in raw materials, as well as a lack of knowledge about green tyre technology and all-season traction capability, are likely factors restraining the growth of the green tyre market.

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Green Tyre Market Report Highlights

• In terms of revenue, the flexible foam segment accounted for the highest revenue share in 2020
• The European Green Tires Market is being driven by an increase in government regulations on installing green tyres as well as a steady increase in vehicle sales.
• Based on the vehicle type, the passenger car segment anticipated to dominate the market. By application, on road segment is projected to grow at the highest CAGR during the forecast period.
• The Green Tyres market is highly competitive in nature with the presence of local & international players. Major players in the industry engage in strategic merger & acquisition, partnership, and new product launches to remain competent in the market. For example, in September 2021, Global Rubber Industries (Pvt.) Ltd. has introduced the Ultimate Green XT, which it claims is one of the world's most environmentally friendly materials-handling solid tyres.
• According to the company, the Ultimate Green XT is made up of 42.8 percent sustainable materials, including bio-sourced and recycled materials. Natural rubber, silica, recycled carbon black, and reclaimed rubber from used tyres are used to make the tyre.

GREEN TYRE MARKET SEGMENTATION

The research report published by Market Research Strategy contains industry segments, as below-

Green Tyre Application Outlook (Revenue, USD Million, 2016 - 2027)

• On-Road
• Off-Road

Green Tyre Sales channel Outlook (Revenue, USD Million, 2016 - 2027)

• OEM
• Aftermarket

Green Tyre Vehicle type Outlook (Revenue, USD Million, 2016 - 2027)

• Passenger Cars
• LCVs
• Commercial Vehicles
• Others

Green Tyre Regional Outlook (Revenue, USD Million, 2016 - 2027)

• North America (U.S., and Canada)
• Europe (Germany, U.K., France, Italy, Spain etc.)
• Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
• South America (Brazil, Mexico, Argentina etc.)
• Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa etc.)

List of Key Players- Green Tyre Market

• Apollo tires
• BKT
• Bridgestone
• Cheng Shin Rubber
• Continental
• Goodyear Tire & Rubber
• Green Arc Tire Manufacturing
• Hankook
• Hankook
• Kumho
• Maxxis
• Michelin North America
• MRF
• Nexen
• Nokian Tires
• Pirelli Tyre SpA
• PPG Industries Inc.
• Yokohama
• ZC Rubber

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