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Global Low Rolling Resistance Tyre Market Share, Size, Growth, Analysis, Trends, Forecast: By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle; By Width Type: Dual Type, Wide Band Type; By Sales Channel: OEM, Aftermarket; By Application: On Road, Off Road; Regional Analysis; Competitive Landscape; 2023-2028

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 2023 and 2028, 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.

 

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

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.

 

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 2022
Historical Period 2018-2022
Forecast Period 2023-2028
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
  • Porter's Five Forces
  • 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

 

*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    Market Snapshot
    6.1    Global
    6.2    Region
7    Opportunities and Challenges in the Market
8    Global Low Rolling Resistance Tyre Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Low Rolling Resistance Tyre Historical Market (2018-2022) 
    8.3    Global Low Rolling Resistance Tyre Market Forecast (2023-2028)
    8.4    Global Low Rolling Resistance Tyre Market by Vehicle Type
        8.4.1    Passenger Vehicle
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Light Commercial Vehicle
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
        8.4.3    Heavy Commercial Vehicle
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2018-2022)
            8.4.3.3    Forecast Trend (2023-2028)
    8.5    Global Low Rolling Resistance Tyre Market by Width Type
        8.5.1    Dual Type
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Wide Band Type
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
    8.6    Global Low Rolling Resistance Tyre Market by Sales Channel
        8.6.1    OEM
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022)
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    Aftermarket
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022)
            8.6.2.3    Forecast Trend (2023-2028)
    8.7    Global Low Rolling Resistance Tyre Market by Application
        8.7.1    On Road
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2022)
            8.7.1.3    Forecast Trend (2023-2028)
        8.7.2    Off Road
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2022)
            8.7.2.3    Forecast Trend (2023-2028)
    8.8    Global Low Rolling Resistance Tyre Market by Region
        8.8.1    North America
            8.8.1.1    Market Share
            8.8.1.2    Historical Trend (2018-2022) 
            8.8.1.3    Forecast Trend (2023-2028)
        8.8.2    Europe
            8.8.2.1    Market Share
            8.8.2.2    Historical Trend (2018-2022) 
            8.8.2.3    Forecast Trend (2023-2028)
        8.8.3    Asia Pacific
            8.8.3.1    Market Share
            8.8.3.2    Historical Trend (2018-2022) 
            8.8.3.3    Forecast Trend (2023-2028)
        8.8.4    Latin America
            8.8.4.1    Market Share
            8.8.4.2    Historical Trend (2018-2022) 
            8.8.4.3    Forecast Trend (2023-2028)
        8.8.5    Middle East and Africa
            8.8.5.1    Market Share
            8.8.5.2    Historical Trend (2018-2022) 
            8.8.5.3    Forecast Trend (2023-2028)
9    North America Low Rolling Resistance Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2022) 
        9.1.3    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2022) 
        9.2.3    Forecast Trend (2023-2028)
10    Europe Low Rolling Resistance Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2022) 
        10.1.3    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2022) 
        10.2.3    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2022) 
        10.3.3    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2022) 
        10.4.3    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Low Rolling Resistance Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2022) 
        11.1.3    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2022) 
        11.2.3    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2022) 
        11.3.3    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2022) 
        11.4.3    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2022) 
        11.5.3    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Low Rolling Resistance Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2022) 
        12.1.3    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2022) 
        12.2.3    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2022) 
        12.3.3    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Low Rolling Resistance Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2022) 
        13.1.3    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2022) 
        13.2.3    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2022) 
        13.3.3    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2022) 
        13.4.3    Forecast Trend (2023-2028)
    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    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    Bridgestone Corporation
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Continental AG
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    The Michelin Group
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    The Goodyear Tyre & Rubber Company
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Madras Rubber Factory
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Apollo Tyres Ltd.
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    Others
16    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Low Rolling Resistance Tyre Market: Key Industry Highlights, 2018 and 2028
2.    Global Low Rolling Resistance Tyre Historical Market: Breakup by Vehicle Type (USD Million), 2018-2022
3.    Global Low Rolling Resistance Tyre Market Forecast: Breakup by Vehicle Type (USD Million), 2023-2028
4.    Global Low Rolling Resistance Tyre Historical Market: Breakup by Width Type (USD Million), 2018-2022
5.    Global Low Rolling Resistance Tyre Market Forecast: Breakup by Width Type (USD Million), 2023-2028
6.    Global Low Rolling Resistance Tyre Historical Market: Breakup by Sales Channel (USD Million), 2018-2022
7.    Global Low Rolling Resistance Tyre Market Forecast: Breakup by Sales Channel (USD Million), 2023-2028
8.    Global Low Rolling Resistance Tyre Historical Market: Breakup by Application (USD Million), 2018-2022
9.    Global Low Rolling Resistance Tyre Market Forecast: Breakup by Application (USD Million), 2023-2028
10.    Global Low Rolling Resistance Tyre Historical Market: Breakup by Region (USD Million), 2018-2022
11.    Global Low Rolling Resistance Tyre Market Forecast: Breakup by Region (USD Million), 2023-2028
12.    North America Low Rolling Resistance Tyre Historical Market: Breakup by Country (USD Million), 2018-2022
13.    North America Low Rolling Resistance Tyre Market Forecast: Breakup by Country (USD Million), 2023-2028
14.    Europe Low Rolling Resistance Tyre Historical Market: Breakup by Country (USD Million), 2018-2022
15.    Europe Low Rolling Resistance Tyre Market Forecast: Breakup by Country (USD Million), 2023-2028
16.    Asia Pacific Low Rolling Resistance Tyre Historical Market: Breakup by Country (USD Million), 2018-2022
17.    Asia Pacific Low Rolling Resistance Tyre Market Forecast: Breakup by Country (USD Million), 2023-2028
18.    Latin America Low Rolling Resistance Tyre Historical Market: Breakup by Country (USD Million), 2018-2022
19.    Latin America Low Rolling Resistance Tyre Market Forecast: Breakup by Country (USD Million), 2023-2028
20.    Middle East and Africa Low Rolling Resistance Tyre Historical Market: Breakup by Country (USD Million), 2018-2022
21.    Middle East and Africa Low Rolling Resistance Tyre Market Forecast: Breakup by Country (USD Million), 2023-2028
22.    Global Low Rolling Resistance Tyre Market Structure

Key Questions Answered in the Report

The market is expected to grow at a CAGR of 11.70% during the period 2023-2028.

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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