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Global Green Tyre Market: By Vehicle Type: Passenger Cars, Light Commercial Vehicles (LCVS), Heavy Commercial Cars; By Application: On-Road, Off-Road; By End-User: OEM, Aftermarket; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Green Tyre Market Outlook

The global green tyre market attained a value of USD 85.3 billion in 2021. The market is further expected to grow in the forecast period of 2022-2027 at a CAGR of 11% to reach a value of over USD 150.9 billion by 2027.

 

Europe Accounts for the Largest Market Share of Green Tyres

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.

 

Global Green Tyre Market

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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 Tyre: Market Segmentation

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.

The major types of vehicles of green tyre are:

  • Passenger Cars 
  • Light Commercial Vehicles (LCVS) 
  • Heavy Commercial Cars 

The market can be broadly categorised on the basis of its applications into:

  • On-Road 
  • Off-Road 

On the basis of end users, the market can be segregated into:

  • OEM 
  • Aftermarket 

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.

 

Energy Saving Features are Driving the Market for Green Tyres

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.

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.

 

Key Industry Players in the Global Green Tyre Market

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:

  • 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 
  • Kumho Doublestar Tyre Group 
  • Others 

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 2021
Historical Period 2017-2021
Forecast Period 2022-2027
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Vehicle Type, Application, End-User, Region
Breakup by Vehicle Type Passenger Cars, Light Commercial Vehicles (LCVS), Heavy Commercial Cars
Breakup by Application On-Road, Off-Road
Breakup by End-User OEM, Aftermarket
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered 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, Kumho Doublestar Tyre Group, Others
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.

 

*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual 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    Industry Opportunities and Challenges
8    Global Green Tyre Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Green Tyre Historical Market (2017-2021) 
    8.3    Global Green Tyre Market Forecast (2022-2027)
    8.4    Global Green Tyre Market by Vehicle Type
        8.4.1    Passenger Cars
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
        8.4.2    Light Commercial Vehicles (LCVS)
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
        8.4.3    Heavy Commercial Cars
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2017-2021)
            8.4.3.3    Forecast Trend (2022-2027)
    8.5    Global Green Tyre Market by Application
        8.5.1    On-Road
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2017-2021)
            8.5.1.3    Forecast Trend (2022-2027)
        8.5.2    Off-Road
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2017-2021)
            8.5.2.3    Forecast Trend (2022-2027)
    8.6    Global Green Tyre Market by End-User
        8.6.1    OEM
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2017-2021)
            8.6.1.3    Forecast Trend (2022-2027)
        8.6.2    Aftermarket
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2017-2021)
            8.6.2.3    Forecast Trend (2022-2027)
    8.7    Global Green Tyre Market by Region
        8.7.1    Market Share
            8.7.1.1    North America
            8.7.1.2    Europe
            8.7.1.3    Asia Pacific
            8.7.1.4    Latin America
            8.7.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2017-2021)
        9.1.2    Forecast Trend (2022-2027)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2017-2021)
        9.2.2    Forecast Trend (2022-2027)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2017-2021)
        9.3.2    Forecast Trend (2022-2027)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2017-2021)
        9.4.2    Forecast Trend (2022-2027)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2017-2021)
        9.5.2    Forecast Trend (2022-2027)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape

    12.1    Market Structure
    12.2    Company Profiles
        12.2.1     Michelin North America, Inc.
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    Bridgestone Americas Tire Operations, LLC
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    Continental Reifin Deutschland GmbH
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    Apollo Tyres Ltd
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    Pirelli & C. S.p.A. - Pirelli Tyre S.p.A
            12.2.5.1    Company Overview
            12.2.5.2    Product Portfolio
            12.2.5.3    Demographic Reach and Achievements
            12.2.5.4    Certifications
        12.2.6    Kumho Doublestar Tyre Group
            12.2.6.1    Company Overview
            12.2.6.2    Product Portfolio
            12.2.6.3    Demographic Reach and Achievements
            12.2.6.4    Certifications
        12.2.7    Others
13    Industry Events and Developments


List of Key Figures and Tables

1.    Global Green Tyre Market: Key Industry Highlights, 2017 and 2027
2.    Global Green Tyre Historical Market: Breakup by Vehicle Type (USD Million), 2017-2021
3.    Global Green Tyre Market Forecast: Breakup by Vehicle Type (USD Million), 2022-2027
4.    Global Green Tyre Historical Market: Breakup by Application (USD Million), 2017-2021
5.    Global Green Tyre Market Forecast: Breakup by Application (USD Million), 2022-2027
6.    Global Green Tyre Historical Market: Breakup by End-User (USD Million), 2017-2021
7.    Global Green Tyre Market Forecast: Breakup by End-User (USD Million), 2022-2027
8.    Global Green Tyre Historical Market: Breakup by Region (USD Million), 2017-2021
9.    Global Green Tyre Market Forecast: Breakup by Region (USD Million), 2022-2027
10.    North America Green Tyre Historical Market: Breakup by Country (USD Million), 2017-2021
11.    North America Green Tyre Market Forecast: Breakup by Country (USD Million), 2022-2027
12.    Europe Green Tyre Historical Market: Breakup by Country (USD Million), 2017-2021
13.    Europe Green Tyre Market Forecast: Breakup by Country (USD Million), 2022-2027
14.    Asia Pacific Green Tyre Historical Market: Breakup by Country (USD Million), 2017-2021
15.    Asia Pacific Green Tyre Market Forecast: Breakup by Country (USD Million), 2022-2027
16.    Latin America Green Tyre Historical Market: Breakup by Country (USD Million), 2017-2021
17.    Latin America Green Tyre Market Forecast: Breakup by Country (USD Million), 2022-2027
18.    Middle East and Africa Green Tyre Historical Market: Breakup by Country (USD Million), 2017-2021
19.    Middle East and Africa Green Tyre Market Forecast: Breakup by Country (USD Million), 2022-2027
20.    Global Green Tyre Market Structure

Key Questions Answered in the Report

In 2021, the global green tyre market attained a value of nearly USD 85.3 billion.

The market is projected to grow at a CAGR of 11% between 2021 and 2027.

The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach USD 150.9 billion by 2027.

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.

Analyst Review

The global green tyre market attained a value of USD 85.3 billion in 2021, 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 2022-2027, growing at a CAGR of 11%. The market is projected to reach USD 150.9 billion by 2027.

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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