About Low Rolling Resistance Tire
The low rolling resistance tires reduce the energy requirement where the tires meet and deform against the road surface. Rolling resistance is fundamentally the required amount of force necessary to get a tire rolling from an idle state. The level of rolling resistance in a tire is measured by the resistance force essential to keep the tire rolling. In its place of individualized tread blocks and deep tread depth designed to dig and claw through the terrain, low rolling resistance tire tread tends to take on a more adjoining, connected design. The tread blocks don’t so much separately connect with the road surface, but more seamlessly roll as one interconnected unit.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.6% |
Leading key players of low rolling resistance tire are focusing on strategic partnerships and new product launches to improve their products & services and also they are focusing on increasing their client base to strengthen market position. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Low Rolling Resistance Tire 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), Apollo Tires Ltd (India), Goodyear Tire and Rubber Company (United States), Continental AG (Germany), Michelin (France), Maxxis International (Taiwan), Yokohama Rubber Company (Japan), Pirelli & C. S.p.A. (Italy), Sumitomo Corporation (Japan) and Marangoni S.p.A. (Italy) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are MRF Tyres (India), Hankook Tire (South Korea), Trelleborg AB (Sweden) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Low Rolling Resistance Tire market by Type (Bias, Radial, Tubeless, Tube and Others) and Region.
On the basis of geography, the market of Low Rolling Resistance Tire 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 Vehicle Type, the sub-segment i.e. Passenger Vehicle will boost the Low Rolling Resistance Tire market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sales Channel, the sub-segment i.e. OEM will boost the Low Rolling Resistance Tire market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Demand for Improved Tire Tread Design from Customers
Market Growth Drivers:
The Rising Demand for Passenger and Commercial Vehicles and The Adoption of Nanotechnology in the Manufacturing of Tires
Challenges:
A Slowdown in the Automotive Sector
Restraints:
Fluctuating Raw Material Prices
Opportunities:
High Growth Opportunities from Emerging Economies
Market Leaders and their expansionary development strategies
In May 2019, Proterra, a leading innovator in heavy-duty electric transportation, announced a collaboration with Michelin to develop the MICHELIN InCity Energy Z tire, a new low rolling resistance tire designed and optimized for battery-electric buses in urban environments. The X InCity Energy Z tires help to reduce rolling resistance, increase load-carry capacity and leverage superior traction, resulting in increased vehicle range and improved performance of electric buses.
In February 2021, Apollo has launched a new range of tyres for the Indian market. Called the Amazer XP, the low rolling resistance tyres are targeted at the entry-level passenger vehicle market for now. The company has listed numerous models in the hatchback and sedan segments that can run on the Amazer XP range.
Signed into law on December 4, 2015, the Fixing America’s Surface Transportation (FAST) Act requires the U.S. Department of Transportation to develop passenger vehicle tire fuel efficiency standards.
Key Target Audience
Manufacturers of Low Rolling Resistance Tire, Suppliers of Raw Materials, Wholesalers, Distributors, and Retailers of Low Rolling Resistance Tire, Automotive Industry, Governmental Bodies and Research Firms
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.