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Green Tyres Market Status (2016-2020) and Forecast Market Analysis, Regional Outlook, Segment Growth Potential, and Competitive Market Share Analysis, 2021-2027

Format: PDF | Pages: 289 | Report ID: MRS1076


Report Description

The global Green Tyres market size is estimated at USD 75.8 Billion in 2020, expanding at a CAGR 12.6% from 2021-2027 to reach 182.31 Billion USD in 2027.

Market Dynamics

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.

The Green tyre market is growing the fastest in Europe. 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. For example, the REACH (Registration, Evaluation, Authorization, and Restriction of Chemicals by the European Parliament) regulation, implemented in 2007, limits the use of chemical substances that are harmful to human health and the environment. Due to the region's stringent emission standards (EURO VI), major vehicle manufacturers prefer suppliers with components that help them meet those standards.

The Green Tyres market is fragmented into vehicle type, applications, and sales channel segments. Based on the vehicle type, the passenger car segment is anticipated to dominate the market. By application, the on-road segment is projected to grow at the highest CAGR during the forecast period. By sales channel, the OEM segment is dominating the market.

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.

The report begins with an overview of the Industry Chain structure, and describes the industry environment, then analyses market size and forecast of Green Tyres by vehicle type, region, and application. In addition, this report introduces the market competition situation among the vendors and company profile, besides, market price analysis and value chain features are covered in this report.

Company Coverage (Company Profile, Sales Revenue, Price, Gross Margin, Main Products, etc.):

  • 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

Vehicle type Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • Passenger Cars
  • LCVs
  • Commercial Vehicles
  • Others

Application Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • On-Road
  • Off-Road

Sales Channel Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • OEM
  • Aftermarket

Region Coverage (Regional Consumption, Demand & Forecast by Countries, etc.):

  • 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, UA

Frequently Asked Questions

The global Green Tyres market size is estimated at USD 75.8 Billion in 2020, expanding at a CAGR 12.6% from 2021-2027 to reach 182.31 Billion USD in 2027.
North America captured the highest revenue in 2021 and is projected to continue its dominance during the study period.
The global Green Tyres market size is expanding at a CAGR 12.6% from 2021-2027 to reach 182.31 Billion USD in 2027.
Asia Pacific (especially China, and India) region is projected to grow at the fastest growth rate during the study 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.

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