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Green tires market to grow at 10.7% CAGR and projected to reach US$ 104.23 billion by 2022 insights shared in detailed report

Automotive and Transportation Market Research

Report aims at estimating green tires market size and future growth potential of the green tires market. The market has been segmented on basis of vehicle type, application, and region. Report provides detailed information regarding major factors influencing growth of green tires market. It also analyzes opportunities in market for stakeholders and details of a competitive landscape for market leaders.

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Green or low rolling resistance tires market projected to reach USD 104.23 billion by 2022, at a CAGR of 10.7% from USD 62.68 billion in 2017. One of most significant factors driving growth of the green tires market is increased government initiatives for a green and clean environment.

There is a rising concern over factors affecting fuel efficiency of vehicles and CO2 emissions.

Thus, governments across globe have started several initiatives to reduce fuel consumption & release of greenhouse gases.

Break-up of primary interviews is given below:

  • By Company Type: Tier 1 –42%, Tier 2 – 33%, and Others – 25%
  • By Designation: Director level 33%, C-Level 17%, and Others 50%
  • By Region: North America – 33%, APAC– 25%, Europe –17%, South America – 17%, and the Middle East& Africa –8%

Green tires are used for different applications such as on-road application and off-road application. On-road application segment is the largest type application segment of the green tires market.

Though green tires in the road industry have gained widespread acceptance, the usage of green tires is still low in emerging economies.  Green tired are majorly used in the on-road application, as the manufacturing capacity can be scaled up easily for passenger car tires.

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APAC, North America, Europe, South America, and the Middle East & Africa are the key regions considered for market analysis in the report. Europe was the largest market for green tires in 2016, in terms of volume.

Europe is expected to become the largest market by 2022, as tire labeling regulations and growing awareness about green tires are expected to drive the green tires market in Europe during the forecast period. The green tires market in the APAC region is projected to grow at the highest CAGR between 2017 and 2022, in terms of value and volume.

Premium Insights

1 Green Tires Market Overview, 2017 vs. 2022

2 Green Tires Market, By Vehicle Type

3 Green Tires Market, By Region

4 Green Tires Market Share, By Application and Country

5 Green Tires Market Attractiveness

Key players in the green tires market include 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) are the leading companies in the green tires market.

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The green tires market in the APAC region is projected to grow at the highest CAGR during the forecast period, in terms of value and volume. China and India is the key markets for green tires in the APAC region.

The increased demand for green tires for passenger cars is projected to fuel the growth of the green tires market in the region.

Competitive Landscape

1 Overview

2 Market Ranking of Key Players

3 Competitive Situations & Trends

4 Expansions

5 Joint Ventures, Partnerships, and Acquisitions

6 New Product Launches

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