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The global low rolling resistance tyre market size is expected to grow at a CAGR of 11.70% during the forecast period of 2024 and 2032, aided by the rapidly developing automotive industry. The major driving force for the market is the rising awareness for carbon emission reduction and increasing demand for fuel-efficient vehicles.
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Low rolling resistance tyres are specially designed tyres that have been designed to help in reducing the excess amount of energy required by the engine to move the wheels. The innovative design of the tyre helps in improving the fuel-efficiency of the vehicle while providing good traction to drive on wet and dry conditions.
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Based on vehicle type, the market can be segmented into passenger vehicle, light commercial vehicle, and heavy commercial vehicle. Based on width type, the market can be divided into dual type and wide band type. Based on the sales channel, it can be bifurcated into OEM and aftermarket. Based on the application, the market divisions include on road and off road. The regional markets for the low rolling resistance tire market can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global low rolling resistance tire market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
Based on vehicle type, the market can be categorised into passenger vehicle, light commercial vehicle, and heavy commercial vehicle.
The passenger vehicle segment is expected to dominate the market growth, owing to the rising demand for fuel efficient vehicles. To meet the demand, companies are incorporating low rolling resistance tyres to meet the rising demand due to its cost-effectiveness.
The light commercial vehicle and heavy commercial vehicle segments are expected to hold a significant share of the market due to the rising demand for fuel efficient commercial vehicles. The heavy commercial vehicle segment is likely to grow rapidly due to increasing adoption of low rolling resistance tyres as the vehicles are often used for long distance travels.
Based on regional markets, the low rolling resistance tyre market can be categorised into North America, Europe, the Asia Pacific, Latin America, the Middle East, and Africa.
The Asia Pacific region is expected grow rapidly during the forecast period owing to the rapidly developing automotive industry. Governments are also implementing strict emission control for various types of vehicles, which can propel the development of green tyres . The low rolling resistance tyres can improve fuel efficiency of vehicles which leads to reduced carbon emissions. Increasing adoption of these tyres can drive the market expansion.
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Bridgestone Corporation is a global leader in the tyre manufacturing market. The company was founded in the year 1931 and the headquarter is located in Tokyo, Japan. The company is actively engaged in producing, innovating, and distributing a diverse range of original equipments and solutions to more than 150 countries. Their products primarily consist of tyres for different types of land vehicles and airplanes. It also specializes in manufacturing of different products, such as golf equipments, hydraulic hose, and seismic isolators, among others.
Continental AG, founded in 1871, is an automotive part manufacturing company, headquartered in Hanover, Germany. The company has expertise in various fields of the automotive industry, including tyres, automated driving, drive assistance systems, and vehicle networking. It also develops and provides products to other industries, including aerospace, construction, energy management, food chain processing, material handling, and rail transport, among many others.
The Michelin Group is a multinational company, headquartered in Clermont-Ferrand, France, and it was founded in 1889. It has been operating with the aim to manufacture sustainable and improved tyres and services for the automotive industry for different type of vehicles, including airplanes, motorcycles, automobiles, trucks, earthmovers, and farm equipment. Tyre manufacturing is their primary business category, and they operate in different segments including passenger car and light truck. The company distributes their products and provides their services in more than 170 countries.
Other market players include The Goodyear Tyre & Rubber Company, Madras Rubber Factory, and Apollo Tyres Ltd., among others.
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 Width Type |
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Breakup by Sales Channel |
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Breakup by Application |
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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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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market is expected to grow at a CAGR of 11.70% during the period 2024-2032.
The market is driven by the growing implementation of new technologies to increase fuel efficiency of vehicles and follow the latest emission norms implemented by regulatory bodies.
The increasing implementation of stringent emission control policies and the rising demand for fuel efficiency among different types of vehicles will provide growth opportunities for the market.
The regional markets for the market include North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
The types of vehicles available in the market include passenger vehicle, light commercial vehicle, and heavy commercial vehicle.
The width types for low rolling resistance tyre market includes dual type and wide band type.
The different sales channels used for the low rolling resistance tyre market include OEM and aftermarket.
The different applications in the market include road and off road.
The key players in the market include Bridgestone Corporation, Continental AG, The Michelin Group, The Goodyear Tyre & Rubber Company, Madras Rubber Factory, and Apollo Tyres Ltd., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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