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Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global Low Rolling Resistance Tyre Market Outlook

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.

low rolling resistance tyre market

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Global Low Rolling Resistance Tyre Market Trends

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.

  • The rapidly developing automotive sector has led to an increase in the number of vehicles active on road, which has raised concerns for rising automotive emission levels. This has compelled governments to implement strict emission control policies, which can propel the market growth as automotive companies increasingly implement new technologies to reduce emissions.
  • Market players are making efforts in manufacturing tyres by utilizing nanomaterials as they have potential to reduce rolling resistance while providing additional benefits such as improved wear resistance with good safety levels.
  • The surging demand for fuel efficient vehicles is likely to enhance the market growth as the low rolling resistance tyres require less energy from the vehicle engine to start moving. This can also simultaneously increase the performance of the vehicle, which will in turn increase the sales.

Global Low Rolling Resistance Tyre Market Analysis

low rolling resistance tyre market by segments

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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. 

  • Bridgestone Corporation
  • Continental AG
  • The Michelin Group
  • The Goodyear Tyre & Rubber Company
  • Madras Rubber Factory
  • Apollo Tyres Ltd.
  • Others

Diverse Vehicle Types in the Low Rolling Resistance Tyre Market

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.

Asia Pacific Region Projects a Leading Role

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.

low rolling resistance tyre market by region

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Competitive Landscape

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.

Key Highlights of the Report

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:

  • Vehicle Type
  • Width Type
  • Sales Channel
  • Application
  • Region
Breakup by Vehicle Type
  • Passenger Vehicle
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle
Breakup by Width Type
  • Dual Type
  • Wide Band Type
Breakup by Sales Channel
  • OEM
  • Aftermarket
Breakup by Application
  • On Road
  • Off Road
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Bridgestone Corporation
  • Continental AG
  • The Michelin Group
  • The Goodyear Tyre & Rubber Company
  • Madras Rubber Factory
  • Apollo Tyres Ltd.
  • Others

*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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Key Questions Answered in the Report

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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63 Fiona Drive, Tamworth, NSW

+61 448 06 17 27

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.

+63 287899028, +63 967 048 3306

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84865399124