About Automotive Green Tires
Automotive green tires refer to a whole new breed of environmentally friendly rubber . Green tire technology focuses on fuel efficiency bit. A rise in the price of gasoline and diesel is encouraging the automakers to manufacture the green tires to improve the mileage of the automotive along with lower emissions. Due to the low cost of purchase, affordability, and low maintenance cost boosting the demand for green tires in emerging countries. Rising environmental concerns among the population have increased the preference of the green tire.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Analyst at AMA Research estimates that Japanese Vendors will contribute the maximum growth to Global Automotive Green Tires market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Bridgestone Corporation (Japan), Goodyear Tire & Rubber Company (United States), Michelin (France), Continental AG (Germany), Pirelli & C. S.p.A. (Italy), Hankook Tire & Technology group (South Korea), Sumitomo Corporation (Japan), Yokohama Rubber Company, Limited (Japan), Cheng Shin Rubber Industry Co (Taiwan) and Apollo Tyres Ltd (India) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Toyo Tire Corporation (Japan), Kumho Tire Co., Inc (South Korea), Cooper Tire & Rubber (United States), GITI Tire (Singapore), Nokian Tyres Oyj (Finland) and Nexen Tire Corporation (South Korea).
Segmentation Overview
AMA Research has segmented the market of Global Automotive Green Tires market by , Application (On-Road and Off-Road) and Region.
On the basis of geography, the market of Automotive Green Tires has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Raw Material, the sub-segment i.e. Silica Incorporated Rubber will boost the Automotive Green Tires market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Vehicle Type, the sub-segment i.e. Passenger Cars will boost the Automotive Green Tires market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Demand for Fuel-Efficient and Eco-friendly Tires
Market Growth Drivers:
Rising Environmental Awareness Regarding Fuel Consumption among Consumers and Upsurging Automobile Industry in Developing Countries
Challenges:
Fluctuation in the Price of Raw Material and Lack Of Awareness in Emerging Countries
Restraints:
Availability of Substitutes in the Market
Opportunities:
Government Support for Green Tires in Developing Countries and Increased Demand for Green Tires for Electric and Hybrid Vehicles
Market Leaders and their expansionary development strategies
In June 2021, Goodyear Tire & Rubber acquired Cooper Tire & Rubber Company, closing the merger agreement and making it public. This combination unites two major tire companies with complementary product portfolios, services, and capabilities to create a strong US-based leader in the global tire industry. The combined company offers more options across the value spectrum, making it easier for customers and consumers to select Goodyear and Cooper branded tires.
In Aug 2018, Pirelli and the Hixih Group have reached an understanding to form a joint venture which will own, through the company Jining Shenzhou Tyre Co., a new consumer tyre production plant in China.
Key Target Audience
Manufacturers of Green Tires, Distributors, and Suppliers of Green Tires, Raw Material Supplier, Government and Research Organizations, Investment Research Firms and Potential Investors
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.