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The global green tyre market attained a value of USD 105.10 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 11% to reach a value of over USD 268.84 billion by 2032.
The European market is leading the green tyres industry. Some of the factors causing dominance of this region include the shifting purchasing patterns, rising awareness about fuel efficiency, increasing vehicle production and sales, per capita increase in income, and the introduction of electric and hybrid vehicles. Germany is a significant exporting hub for automobile producers and is recognised globally for its high-quality automobile production.
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Asia Pacific is anticipated to grow in the forecast period due to increasing disposable income leading to rising demand for passenger cars in the region, thus, increasing demand for green tyres. Improving living standards of the population, stringent pollution norms and policies proposed by various countries, leading automotive producers shifting their manufacturing bases in the region are some of the factors fuelling market growth.
Green tyres refer to a new variety of environmentally friendly rubber tyres. Green tyres focus on fuel efficiency. It contains more than 200 ingredients and is available in different types of rubber, each has its own desirable characteristics. It provides a lower rolling resistance and therefore less engine power sapped in rotating the tyre as these eco-friendly tyres employ a special type of tightly bonded rubber in the tread blocks to retain more energy while driving. One can reduce a vehicle's carbon footprint. Rolling resistance of a tyre can account for reduction of a vehicle's fuel consumption and carbon dioxide emissions.
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The major types of vehicles of green tyre are:
The market can be broadly categorised on the basis of its applications into:
On the basis of end users, the market can be segregated into:
The EMR report looks into the regional markets of green tyres like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Green tires help in reducing the energy lost due to friction between tires and the rolling surface. The cost of installing green tyres may be considered as an expense but in the long run, the use of green tires turns out to be cost-effective. Increasing greenhouse emissions from tire manufacturing along with rising concerns on climate change and global warming is providing lucrative opportunities for growth.
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Increase in energy costs, strict government regulations, increasing urbanisation and globalisation, and increased environmental awareness regarding fuel consumption among consumers are some of the factors driving the market. Use of green tyres also helps in tackling the increasing scarcity of natural petroleum reserves and reducing the pollution globally.
The report presents a detailed analysis of the following key players in the global green tyre market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Vehicle Type |
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Breakup by Application |
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Breakup by End-User |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Green Tyre Market Analysis
8.1 Key Industry Highlights
8.2 Global Green Tyre Historical Market (2018-2023)
8.3 Global Green Tyre Market Forecast (2024-2032)
8.4 Global Green Tyre Market by Vehicle Type
8.4.1 Passenger Cars
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Light Commercial Vehicles (LCVS)
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Heavy Commercial Cars
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global Green Tyre Market by Application
8.5.1 On-Road
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Off-Road
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Green Tyre Market by End-User
8.6.1 OEM
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Aftermarket
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Green Tyre Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Green Tyre Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Green Tyre Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Green Tyre Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Green Tyre Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Green Tyre Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Michelin North America, Inc.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Bridgestone Americas Tire Operations, LLC
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Continental Reifin Deutschland GmbH
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Apollo Tyres Ltd
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Pirelli & C. S.p.A. - Pirelli Tyre S.p.A
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Kumho Doublestar Tyre Group
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Green Tyre Market: Key Industry Highlights, 2018 and 2032
2. Global Green Tyre Historical Market: Breakup by Vehicle Type (USD Million), 2018-2023
3. Global Green Tyre Market Forecast: Breakup by Vehicle Type (USD Million), 2024-2032
4. Global Green Tyre Historical Market: Breakup by Application (USD Million), 2018-2023
5. Global Green Tyre Market Forecast: Breakup by Application (USD Million), 2024-2032
6. Global Green Tyre Historical Market: Breakup by End-User (USD Million), 2018-2023
7. Global Green Tyre Market Forecast: Breakup by End-User (USD Million), 2024-2032
8. Global Green Tyre Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global Green Tyre Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America Green Tyre Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America Green Tyre Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe Green Tyre Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe Green Tyre Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific Green Tyre Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific Green Tyre Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America Green Tyre Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America Green Tyre Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa Green Tyre Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa Green Tyre Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Global Green Tyre Market Structure
In 2023, the global green tyre market attained a value of nearly USD 105.10 billion.
The market is projected to grow at a CAGR of 11% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 268.84 billion by 2032.
Factors like Increase in energy costs, increasing urbanisation and globalisation, strict government regulations, and increased environmental awareness regarding fuel consumption among consumers are the major industry drivers.
Increasing greenhouse emissions from tire manufacturing along with rising concerns on climate change and global warming is the key market trend.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with Europe accounting for the largest share in the market.
Passenger cars, light commercial vehicles (LCVS), and heavy commercial cars are the major types of vehicles of green tyre in the industry.
The applications of green tyres are on-road and off-road.
OEM and aftermarket are the end-users of green tyre in the industry.
The major players in the industry are Michelin North America, Inc., Bridgestone Americas Tire Operations, LLC, Continental Reifin Deutschland GmbH, Apollo Tyres Ltd, Pirelli & C. S.p.A. - Pirelli Tyre S.p.A, and Kumho Doublestar Tyre Group, among others.
The global green tyre market attained a value of USD 105.10 billion in 2023, driven by the rising environmental concerns. Aided by the growing fuel efficiency, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 11%. The market is projected to reach USD 268.84 billion by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its application, the green tyre industry can be segmented into on road and off road, with on-road accounting for the largest market share. On the basis of end users, the OEM sector accounts for the leading share in the industry. The major regional markets for green tyre are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with Europe accounting for the largest share of the market. The key players in the above market include Michelin North America, Inc., Bridgestone Americas Tire Operations, LLC, Continental Reifin Deutschland GmbH, Apollo Tyres Ltd, Pirelli & C. S.p.A. - Pirelli Tyre S.p.A, and Kumho Doublestar Tyre Group, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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