About Green Tires
Green tires are sustainable tires made up of highly dispersible silica (HD silica or HDS), natural rubber and improved carbon black with an aim to provide energy efficiency by having low rolling resistance. As per leading rubber and plastics expertise Smithers Rapra data of 2018, around 40% of total tires are green one with demand expected to grow in the forecasted period. Emergence of electric and hybrid vehicles expected to add another feather in sustainable tires market cap amid challenge about the unpredictability of raw materials loom large.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Competition among existing players is due to the Green Tires market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Green Tires Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global 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.
PPG Industries Inc. (United States), Apollo (India), Pirelli Tyre SpA (Italy), Bridgestone (Japan), Green Arc Tire Manufacturing (Canada), Goodyear Tire & Rubber (United States), Michelin North America (United States), Continental (Germany), Maxxis (Taiwan), Hankook Tire (South Korea) and Kumho Tire (South Korea) 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 Limited (Japan) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Green Tires market by Type (On-Road Tires and Off-Road Tires), Application (Passenger Cars, Light Commercial Vehicle, Heavy Commercial Car and Other) and Region.
On the basis of geography, the market of 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).
Influencing Trend:
Growing Focus From OEMs towards Energy Efficient Solution and Growth in Alternatives Power trains Such as Hybrid and Electric Vehicles
Market Growth Drivers:
Emphasizing on reducing emission by Minimizing Rolling Resistance of Tires and Biodegradable Nature of Green tires Prove to be eco-friendly thus, proliferating its demand coupled by Favorable government moves
Challenges:
Adverse impact on braking performance in case of replacement of green tires’ from conventional materials and Lack of awareness About Its Benefits
Restraints:
Unpredictibiliy of Raw Material Prices
Opportunities:
Growing Need towards Fuel conservation Amid Scarcity of Fossil Fuels and Replacement of Conventional Tires By green one
Market Leaders and their expansionary development strategies
In December 2022, GRI announced that it had acquired Klumpenaar Industriebanden BV in the Netherlands. Founded in 2010, Klumpenaar Industriebanden BV has been actively engaged in the material handling tire aftermarket service and distribution business. The company has grown its business rapidly since its inception and built a sound reputation for outstanding customer service.
In November 2022, GRI launched a new radial tire for the agricultural industry at the SIMA 2022 exhibition in Paris, France. The Green XLR EARTH 65+ joins the Green XLR Earth Series of tires, which aim to protect the Earth.
"The replacement market for green tires has also grown through better consumer education and awareness provided by the European Union’s consumer tire labelling plan that rates tire rolling resistance and other performance variables. Regulatory and labelling plans promoting OE and replacement LRR tires are expanding beyond Europe, too, and could possibly be coming to the U.S. OE market penetration is catching up to European levels in other regions with discussions taking place in the US."
Key Target Audience
Manufacturers of Green Tires, Traders, Distributors, and Suppliers of Green Tires, Regional Manufacturers’ Associations and General Green tires Associations, Government and Regional Agencies and Research Organizations and Investment 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.