Automotive Green Tires Market to Witness Widespread Expansion By 2027
Reports estimate that the global automotive green tires market could cross USD 175 billion in terms of total valuation by 2027. The rise in regulations related to vehicle emission levels along with the growing popularity of eco-friendly and sustainable vehicles is expected to boost the industry share in the coming years. Notably, a green tire is retreadable, lightweight, and sensibly dimensioned with reduced rolling resistance, enhanced shelf-life, and a high fuel-efficiency.
Escalating demand for larger vehicle fleet to enhance the economies of scale in the logistics sector has propelled the demand for heavy trailers and trucks. Enhancement in the global construction and infrastructure industry over the years to meet the rising demands of the people along with the positive outlook in the mining sector will drive the adoption of automotive green tires.
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Europe automotive green tires market is anticipated to record a substantial share of over 20% through 2027. This is because regulatory bodies in Europe comprising federal and regional have implemented standards and regulations for the purpose of curbing vehicular emissions.
To that end, numerous policies have been drafted for escalating the adoption of electric automobiles, improving vehicle efficiency, and complementing product consumption in the region. increasing regional demand for luxury vehicles and a positive outlook towards the automotive industry, especially in France and Germany, will impel market share over the upcoming years.
The OEMs segment will account for a considerable share of the overall automotive green tires market through 2027. This is due to the increasing engagements of OEMs in multi-year contracts or partnerships with raw material suppliers, further ensuring a steady supply chain.
Automotive green tire companies are actively working towards enhancing their market offerings to meet the changing, sustainable automobile needs. Industry manufacturers include Hankook Tire, Continental AG, The Goodyear Tire & Rubber Company, Zhongce Rubber Group Co., Nokian Tyres Plc., and Kumho Tire, among various others.
These players are focusing on key strategies, comprising investments in R&D for new product development and partnerships, for reinforcing their competitive edge in the market.
In a nutshell, strict regulations on emissions and tire labeling are set to augment automotive green tires market share through the analysis period.
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Partial Chapter of the Table of Content
Chapter 4. Automotive Green Tires Market By Vehicle
4.1. Market share by vehicle, 2020 & 2027
4.2. Passenger car
4.2.1. Global passenger car green tires market estimate & forecast, 2017 – 2027
4.2.2. Global passenger car green tires market estimate & forecast, by region 2017 – 2027
4.3. Commercial
4.3.1. Global commercial green tires market estimate & forecast, 2017 – 2027
4.3.2. Global commercial green tires market estimate & forecast, by region 2017 – 2027
Chapter 5. Automotive Green Tires Market By Application
5.1. Market share by application, 2020 & 2027
5.2. On-road
5.2.1. Global on-road market estimate & forecast, 2017 – 2027
5.2.2. Global on-road green tires market estimate & forecast, by region 2017 – 2027
5.3. Off-road
5.3.1. Global off-road green tires market estimate & forecast, 2017 – 2027
5.3.2. Global off-road market estimate & forecast, by region 2017 – 2027
Chapter 6. Automotive Green Tires Market By End-user
6.1. Market share by end-user, 2020 & 2027
6.2. OEM
6.2.1. Global OEM market estimate & forecast, 2017 – 2027
6.2.2. Global OEM market estimate & forecast, by region 2017 – 2027
6.3. Aftermarket
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