Green Tire Market Size, Share, Growth, Development and Technology Forecast 2029
The green tyre industry, which is made up of low rolling resistance (LRR) tyres and "green" (sustainable) materials, is a rapidly increasing segment of the broader tyre industry. The industry's rapid growth is owed in part to the expansion of the tyre market, but primarily to the growing public interest in sustainability. SMRs estimates that the global market for green tyres will reach 101,400 thousand units in 2020, accounting for approximately 38% of the global tyre industry. According to the SMR Report for the Green Tyre Market by 2027, the value and quantity will expand by almost 10.4% annually by 2027, when the volume will reach nearly 202.680 thousand units.
Green Tire Market Report Scope and Research Methodology
The research includes an in-depth analysis of the strategies of the industry's major companies, as well as a complete examination of the various market segments and geographies. SWOT analysis was used to determine the Green Tire major players' strengths and weaknesses. A comprehensive analysis of Green Tire market dynamics, including drivers, constraints, opportunities, and challenges, is presented for each region and segment. The Green Tire Market study also includes figures for import/export consumption, supply and demand, price, cost, income, and gross margins. For correct inferences, the data acquired through primary and secondary research and analysed by MMR analysts on Green Tire Market was pooled. To gather data for the Green Tire Market research on critical parameters such as market trends, market size, growth patterns, competitive landscape, prognosis, and so on. Primary information was gathered through interviews, while secondary data was gathered from sources such as annual or financial reports, government records, company websites, industry white papers, paid databases, and free databases. To estimate the and regional Green Tire Market size, the bottom-up approach was utilised.
Green Tire Market Report Overview:
The study is based on significant company estimates as well as market facts. During the projected period, the Green Tire Market Report offers growth variables, current market share, various types, technologies, applications, and regional penetrations by 2029.
Green Tire Market size was volume at 123587.94 thousand units in 2022 and the total Green Tire Market volume is expected to grow at 10.4% through 2023 to 2029, reaching nearly 247035.64 thousand units.
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Green Tire Market Dynamics:
The development of the middle class and the resulting increase in vehicle ownership in emerging nations, particularly in Asia, is the primary driver of the global Green Tyre Market. With increased worries about greenhouse gas emissions and the scarcity of natural resources to meet the demands of an increasing number of consumers, the industry is lobbying the government and the market for more sustainable products such as green tyres. As a result, tyre manufacturers are promoting sustainable tyre technology, such as the use of renewable rubber in their products that performs as well as or better than traditional rubber. To accelerate the commercial development of renewable rubber, many tyre manufacturers have strategic collaborations with governments, researchers, and biotechnology businesses.
Green Tire Market Segmentation:
Green tyres are always being optimised to attain the lowest rolling resistance possible through the use of fillers such as highly dispersible silica (HD silica or HDS), better carbon blacks, or nanotechnology. This segment dominated the green tyre market in 2018 and will continue to do so until 2027. Other materials are contributing, some in terms of reducing rolling resistance, but also in terms of overall sustainability. Improvements in synthetic rubber characteristics and sustainability (i.e. nonpetroleum alternatives), as well as increasing use and supply of natural rubber, are significant areas of focus and innovation. Initially, the volume and value of new green technologies will be minor, with more economic potential occurring after the prediction period.
Biosourcing of synthetic rubbers and other ingredients, increased natural rubber availability, and biological alternatives to natural rubber are all important areas of focus.
Cooper Tyre and Rubber and its consortium partners, including Clemson University, Cornell University, PanAridus, and the US Department of Agriculture's Agricultural Research Service, completed a five-year $6.9 million Biomass R&D Initiative (BRDI) grant titled "Securing the Future of Natural Rubber—an American Tyre and Bioenergy Platform from Guayule" in 2017.
Green Tire Market Regional Analysis:
The key geographic condition of the market, as well as segments and subsegments, are investigated in the Green Tire Industry Research. The research describes the present situation of the regional market in terms of market size, share, and volume. The Green Tire market research includes an examination of all regions:
- Europe
- North America
- Asia-Pacific
- the Middle East and Africa
- Latin America
Green Tire Market Key Players:
Michelin (France)
Bridgestone (Japan)
Goodyear Tire and Rubber (US)
Continental (Germany)
Hankook (South Korea),
Pirelli (Italy)
Cheng Shin Rubber (China)
Kumho Tires (South Korea)
ZC Rubber (China)
Nokian Tires (Finland)
Apollo tires (India),
Sailun Tires (China)
Shandong Linlong Tire (China)
Kenda Tires (Taiwan)
Giti Rubber (Singapore)
Cooper (US)
Yokohama (Japan)
Nexen (South Korea)
MRF (India)
Petlas (Turkey)
BKT (India)
Key Questions answered in the Green Tire Market Report are:
- What is Green Tire Market?
- What will be the CAGR of the Green Tire market during the forecast period?
- Which region held the largest Green Tire market share?
- What are the factors driving the Green Tire market growth?
- What are the opportunities for the Green Tire Market?
- What factors are restraining the Green Tire market growth?
- Which company held the largest share in the Green Tire market?
- What key trends are likely to emerge in the Green Tire market in the coming years?
- Which segment of the Green Tire market is expected to grow at a high rate during the forecast period?
Key offerings:
- Past Market Size and Competitive Landscape
- Past Pricing and price curve by region
- Market Size, Share, Size & Forecast by different segment
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by segments and sub-segments
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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About Stellar Market Research
Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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