Global Green Tires Market was valued US$63 Bn in 2017 and is anticipated to reach US$144 Bn by 2026 at a CAGR of about 10.89 % during a forecast period.
Global Green Tires Market is segmented by vehicle type, by application, and by region. Green Tires market is segmented into Passenger Cars, Light Commercial Vehicle, Heavy duty, and Aircraft. On-Road and Off-Road are application segment of Green Tires market. Geographically into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
The green tire is a way big dream for the tire manufacturers. Itâ€™s a rocky road to fulfill this dream. Replacement of the raw materials present in tires with renewable materials may have a negative impact on the braking performance and compromising here is not acceptable. Currently, the label â€œgreen is used for tires, designed with an aim to improve the fuel economy.
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Based on vehicle type, the passenger cars segment is estimated to account for the largest share of the green tires market in 2017, in terms of value and volume. Passenger cars lead the automotive production across the globe. In recent years, automotive manufacturers have been focusing on fuel efficiency, which, in turn, has created a demand for fuel-efficient tires.
Based on application, the on-road application segment accounted for the largest share of the green tires market in 2017. On-road vehicles include passenger cars, and trucks, which run on roads to transport passengers and goods from one place to another.
Europe was the largest market for green tires in 2017, in terms of volume. Europe is expected to become the largest market by 2026, as tire labeling regulations and growing awareness about green tires are expected to drive the green tires market in Europe during the forecast period.
PPG Industries Inc., Pirelli Tyre SpA, Bridgestone, Green Arc Tire Manufacturing, Goodyear Tire & Rubber, Michelin North America, Continental, Maxxis, Hankook, Kumho, Pyrolyx AG, Lanxess, Vittoria, Apollo Vredestein, CST., Sailun, LINGLONG TIRE, Kenda Tires., CRAIN COMMUNICATIONS, INC., Cooper Tire & Rubber Company, Yokohama Tire Corporation, Nexen, MRF, Petlas, Balkrishna Industries Limited (BKT), TOYO TIRE U.S.A. CORP. are key players included in the Green Tires Market.
Scope of Global Green Tires Market:
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Global Green Tires Market by Vehicle Type:
Light Commercial Vehicle
Global Green Tires Market by Application:
Global Green Tires Market by Region:
Middle East & Africa
Key Player Analysed in the Global Green Tires Market:
PPG Industries Inc.
Pirelli Tyre SpA
Green Arc Tire Manufacturing
Goodyear Tire & Rubber
Michelin North America
CRAIN COMMUNICATIONS INC.
Cooper Tire & Rubber Company
Yokohama Tire Corporation
Balkrishna Industries Limited
TOYO TIRE U.S.A. CORP.
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