Global Green Tires Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
MarketResearch.biz delivers in-depth insights on the global green tires market in its upcoming report titled, “Global Green Tires Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global green tires market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global green tires market report has been segmented on the basis of vehicle type, application, and region.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
Tire is a rubber covering, usually inflated or surrounded by an inflated inner tube that is placed around the wheel to maintain a soft contact with the road. Tires are specially designed to maintain the contact with road and to provide traction needed to roll on the surface. Green tires employ tightly bonded rubber in the tread blocks to preserve more energy while driving, thus reducing the rolling resistance and carbon emissions. It provides improved fuel efficiency, road grip, and noise emissions.
Increasing demand for eco-friendly tires, owing to the initiatives taken by government for green and clean environment is a major factor driving growth of the global green tires market during the forecast period. In addition, Green tires also leads to increasing fuel efficiency which expected to boost demand of green tires and drives growth of the target market over the forecast period.
Lack of awareness regarding green tire technology may hinder the demand and restrain growth of the global green tires market over the forecast period. In addition, process engineering involved in raw materials for green tires may also hamper growth of the target market to a certain extent. Moreover, increasing demand for green tires in tire industry is a factor expected to create lucrative opportunity for global green tires market over the forecast period.
The Europe market accounted for major revenue share and is expected to dominate the target market over the forecast period, followed by the North America. The North America green tires market also accounted for significant share in terms of revenue during the forecast period. The Asia Pacific market is projected to witness a fastest growth and is expected to register a significant CAGR in coming years. Increase in disposable income and rising demand for passenger cars in the region, are some factors anticipated to drive the growth of eco-friendly tires in the region.
Global Green Tires Market Segmentation:
Segmentation On the Basis of Vehicle Type:
- Passenger Cars
- Light Commercial Vehicles (LCVs)
Segmentation On the Basis of Application:
Segmentation On the Basis of Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Bridgestone Americas Tire Operations, LLC
- The Goodyear Tire & Rubber Company
- Continental Tire the Americas, LLC
- Pirelli Tyre S.p.A
- Hankook Tire
- KUMHO TIRE USA, INC.
- Nokian Tyres plc
- Cheng Shin Rubber Ind. Co. Ltd.
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