Green Tires Market by Vehicle Type (Passenger Cars, Light Commercial Vehicle), Application (On-Road, and Off-Road), and Region (North America, Asia-Pacific, Europe, South America, and Middle East & Africa) - Global Forecast to 2022
The green tires market is projected to reach USD 104,229.4 thousand units by 2022, at a CAGR of 10.7%. Green tires are tires adjusted for low rolling resistance, using materials such as silica. Rolling resistance is the energy dissipated from the friction of the tire rolling on a given surface. The addition of silica to the tire formulation results in the tires being more energy-efficient as well as increasing the overall safety of the green tires.
On-road to be the largest application of green tires during the forecast period
The demand for on-road vehicles such as passenger cars and LCVs is on the rise and expected to boost the green tires market in the on-road application segment.
Passenger cars to be the largest vehicle type for green tires
The increasing demand for fuel-efficient vehicles, as well as greater awareness among consumers, are the factors, which are boosting the demand for green tires in the passenger cars segment.
APAC to be the fastest-growing green tires market during the forecast period.
APAC is projected to be the fastest-growing market, in terms of value, during the forecast period. This is due to the increasing demand for passenger cars and improving living standards of the population in the region.
Green Tires Market Dynamics
Driver Increase in fuel efficiency
Green tires help in reducing the energy lost due to friction between tires and the rolling surface. This is called rolling resistance. In light motor vehicle and conventional passenger cars, 7-10% of the fuel is consumed to overcome the rolling resistance, and in heavy trucks and commercial vehicles, the fuel consumption is higher. The use of green tires can increase the fuel economy of a vehicle by around 2-4% in light motor vehicles and 7-10% in heavy-duty vehicles. In the long run, the use of green tires turns out cost-effective, as the extra cost paid for the green tires is recovered by savings made on fuel expenses.
Restraint: Lack of awareness in emerging economies
The consumers are well-aware about the benefits of using CNG and hybrid vehicles; however, there is a lack of awareness regarding the benefits of green tires and the role it plays in reducing fuel consumption. In emerging economies such as India and Indonesia, the general consumer is less focused on the benefits offered by green tires. This acts as a significant restraint for the green tires market.
Opportunities Green replacement tires
Though the demand for green tires is increasing among various automotive manufacturers, i.e., at Original Equipment (OE) level, the replacement tires market is expected to provide a lot of opportunities for manufacturers in the future. The demand for replacement tires is likely to rise during the forecast period due to the higher vehicle utilization at the backdrop of an increase in cab sharing facility across the globe.
Green Tires Market Report Scope
|
Report Metric |
Details |
|
Market size available for years |
2015-2022 |
|
Base year considered |
2016 |
|
Forecast period |
2017-2022 |
|
Forecast units |
USD million and thousand units |
|
Segments covered |
Vehicle type, Application, and Region. |
|
Geographies covered |
North America, Europe, APAC, the Middle East & Africa, and South America |
|
Companies covered |
Michelin (France), Bridgestone (Japan), Goodyear Tire and Rubber (US), Continental (Germany), Hankook (South Korea), Pirelli (Italy), Cheng Shin Rubber (China), Kumho Tires (South Korea), ZC Rubber (China), Nokian Tires (Finland) Apollo tires (India), Sailun Tires (China), Shandong Linlong Tire (China), Kenda Tires (Taiwan), Giti Rubber (Singapore), Cooper (US), Yokohama (Japan), Nexen (South Korea), MRF (India), Petlas (Turkey), BKT (India) |
This research report categorizes the green tires market based on vehicle type, application, and region.
Green Tires Market, Based on Vehicle Type:
- Passenger Cars
- LCVs
- Others
Green Tires Market, Based on Application:
- On-Road
- Off-Road
Green Tires Market, Based on Region:
- North America
- Asia Pacific
- Europe
- South America
- Middle East & Africa
Key Market Players in Green Tires Market
Michelin (France), Bridgestone (Japan), Goodyear Tire and Rubber (US), Continental (Germany), Hankook (South Korea)
Recent Developments in Green Tires Market
- In October 2017, Bridgestone committed to invest 266 million euros into three key European production sites, used to expand plant production capacity, purchase cutting-edge equipment, and optimize existing production lines.
- In October 2017, Hankook opened its first manufacturing facility in Tennessee, US. The facility manufactures 5.5 million units and caters the North American demand. This facility supplies high-quality tires to tire dealers and consumers,
- In February 2017, Hankook acquired JAX Tyres (Australia). This acquisition will help the company expand its customer relationships as well as enhance its competitiveness in the B2C retail sector. It is also expected to help the company become a top-tier company.
Critical Questions the Green Tires Market Report Answers:
- Where will all these developments take the green tires market in the long term?
- What are the upcoming trends for the green tires market?
- Which segment in the green tires market provides the most opportunity for growth?
- Who are the leading vendors operating in the market?
- What are the opportunities for new market entrants in the green tires market?
Frequently Asked Questions (FAQ):
How big is the Green Tires Market industry?
The green tires market is expected to reach USD 104.23 Billion by 2022. The green tires market is estimated to be USD 62.68 Billion in 2017 and is projected to reach USD 104.23 Billion by 2022, at a CAGR of 10.7% from 2017 to 2022
Who leading market players in Green Tires industry?
Bridgestone (Japan), Goodyear Tire and Rubber (US), Michelin (France), Continental (Germany), and Hankook (South Korea) are the key players operating in the green tires market.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Contents
1 Introduction (Page No. - 13)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Segmentation
1.3.1 Years Considered for the Study
1.4 Currency
1.5 Unit Considered
1.6 Limitations
1.7 Stakeholders
2 Research Methodology (Page No. - 16)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primary Interviews
2.2 Market Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top Down Approach
2.3 Data Triangulation
2.4 Assumptions
3 Executive Summary (Page No. - 24)
4 Premium Insights (Page No. - 27)
4.1 Green Tires Market Overview, 2017 vs. 2022
4.2 Market, By Vehicle Type
4.3 Market, By Region
4.4 Market Share, By Application and Country
4.5 Market Attractiveness
5 Market Overview (Page No. - 30)
5.1 Introduction
5.1.1 Drivers
5.1.1.1 Government Initiatives for Green and Clean Environment
5.1.1.2 Increase In Fuel Efficiency
5.1.2 Restraints
5.1.2.1 Lack of Awareness In Emerging Economies
5.1.3 Opportunities
5.1.3.1 Green Replacement Tires
5.2 Porter’s Five Forces Analysis
5.2.1 Bargaining Power of Suppliers
5.2.2 Bargaining Power of Buyers
5.2.3 Threat of New Entrants
5.2.4 Threat of Substitutes
5.2.5 Intensity of Competitive Rivalry
5.3 Industry Indicators
6 Green Tires Market, By Vehicle Type (Page No. - 35)
6.1 Introduction
6.2 Passenger Cars
6.3 Light Commercial Vehicles (LCVS)
6.4 Others
6.4.1 Heavy Trucks
6.4.2 Buses & Coaches
6.4.3 Two Wheelers
7 Green Tires Market, By Application (Page No. - 40)
7.1 Introduction
7.2 On-Road
7.3 Off-Road (OTR)
8 Green Tires Market, By Region (Page No. - 43)
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Mexico
8.2.3 Canada
8.3 Europe
8.3.1 Germany
8.3.2 Spain
8.3.3 UK
8.3.4 France
8.3.5 Italy
8.3.6 Rest of Europe
8.4 APAC
8.4.1 China
8.4.2 South Korea
8.4.3 Japan
8.4.4 India
8.4.5 Rest of APAC
8.5 Middle East & Africa
8.5.1 Iran
8.5.2 South Africa
8.5.3 Rest of Middle East & Africa
8.6 South America
8.6.1 Brazil
8.6.2 Argentina
8.6.3 Rest of South America
9 Competitive Landscape (Page No. - 72)
9.1 Overview
9.2 Market Ranking of Key Players
9.3 Competitive Situations & Trends
9.4 Expansions
9.5 Joint Ventures, Partnerships, and Acquisitions
9.6 New Product Launches
10 Company Profiles (Page No. - 77)
10.1 Michelin
10.2 Bridgestone
10.3 Goodyear
10.4 Continental
10.5 Hankook
10.6 Pirelli
10.7 Cheng Shin Rubber
10.8 Kumho
10.9 ZC Rubber
10.10 Nokian
10.11 Other Companies
10.11.1 Apollo Tyres
10.11.2 Sailun Tires
10.11.3 Shandong Linglong Tire Co., Ltd
10.11.4 Kenda Tires
10.11.5 Giti Rubber
10.11.6 Cooper
10.11.7 Yokohama
10.11.8 Nexen
10.11.9 MRF
10.11.10 Petlas
10.11.11 BKT
10.11.12 Toyo Tires
11 Appendix (Page No. - 100)
11.1 Discussion Guide
11.2 Knowledge Store: Marketsandmarkets Subscription Portal
11.3 Introducing RT: Real-Time Market Intelligence
11.4 Related Reports
11.5 Author Details
List of Tables (69 Tables)
Table 1 Green Tires Market Size, By Vehicle Type, 2015–2022 (USD Million)
Table 2 Market By Size, By Vehicle Type, 2015–2022 (Thousand Units)
Table 3 Market By Size, By Application, 2015–2022 (USD Million)
Table 4 Market By Size, By Application, 2015–2022 (Thousand Units)
Table 5 Global Green Tires Market Size, By Country, 2015–2022 (USD Million)
Table 6 Global Market By Size, By Country, 2015–2022 (Thousand Units)
Table 7 North America: By Market Size, By Country, 2015–2022 (USD Million)
Table 8 North America: By Market Size, By Country, 2015–2022 (Thousand Units)
Table 9 North America: By Market Size, By Vehicle Type, 2015–2022 (USD Million)
Table 10 North America: By Market Size, By Vehicle Type, 2015–2022 (Thousand Units)
Table 11 US: By Market Size, By Vehicle Type, 2015–2022 (USD Million)
Table 12 US: By Market Size, By Vehicle Type, 2015–2022 (Thousand Units)
Table 13 Mexico: By Market Size, By Vehicle Type, 2015–2022 (USD Million)
Table 14 Mexico: By Market Size, By Vehicle Type, 2015–2022 (Thousand Units)
Table 15 Canada: By Market Size, By Vehicle Type, 2015–2022 (USD Million)
Table 16 Canada: By Market Size, By Vehicle Type, 2015–2022 ( Thousand Units)
Table 17 Europe: By Market Size, By Country, 2015–2022 (USD Million)
Table 18 Europe: By Market Size, By Country, 2015–2022 (Thousand Units)
Table 19 Europe: By Market Size, By Vehicle Type, 2015–2022 (USD Million)
Table 20 Europe: By Market Size, By Vehicle Type, 2015–2022 (Thousand Units)
Table 21 Germany: Green Tires Market Size, By Vehicle Type, 2015–2022 (USD Million)
Table 22 Germany: By Market Size, By Vehicle Type, 2015–2022 (Thousand Units)
Table 23 Spain: By Market Size, By Vehicle Type, 2015–2022 (USD Million)
Table 24 Spain: By Market Size, By Vehicle Type, 2015–2022 (Thousand Units)
Table 25 UK: By Market Size, By Vehicle Type, 2015–2022 (USD Million)
Table 26 UK: By Market Size, By Vehicle Type, 2015–2022 (Thousand Units)
Table 27 France: By Market Size, By Vehicle Type, 2015–2022 (USD Million)
Table 28 France: By Market Size, By Vehicle Type, 2015–2022 (Thousand Units)
Table 29 Italy: By Market Size, By Vehicle Type, 2015–2022 (USD Million)
Table 30 Italy: By Market Size, By Vehicle Type, 2015–2022 (Thousand Units)
Table 31 Rest of Europe: By Market Size, By Vehicle Type, 2015–2022 (USD Million)
Table 32 Rest of Europe: By Market Size, By Vehicle Type, 2015–2022 (Thousand Units)
Table 33 APAC: By Market Size, By Country, 2015–2022 (USD Million)
Table 34 APAC: By Market Size, By Country, 2015–2022 (Thousand Units)
Table 35 APAC: By Market Size, By Vehicle Type, 2015–2022 (USD Million)
Table 36 APAC: By Market Size, By Vehicle Type, 2015–2022 (Thousand Units)
Table 37 China: By Market Size, By Vehicle Type, 2015–2022 (USD Million)
Table 38 China: By Market Size, By Vehicle Type, 2015–2022 (Thousand Units)
Table 39 South Korea: By Market Size, By Vehicle Type, 2015–2022 (USD Million)
Table 40 South Korea: By Market Size, By Vehicle Type, 2015–2022 (Thousand Units)
Table 41 Japan: By Market Size, By Vehicle Type, 2015–2022 (USD Million)
Table 42 Japan: By Market Size, By Vehicle Type, 2015–2022 (Thousand Units)
Table 43 India: By Market Size, By Vehicle Type, 2015–2022 (USD Million)
Table 44 India: By Market Size, By Vehicle Type, 2015–2022 (Thousand Units)
Table 45 Rest of APAC: By Market Size, By Vehicle Type, 2015–2022 (USD Million)
Table 46 Rest of APAC : By Market Size, By Vehicle Type, 2015–2022 (Thousand Units)
Table 47 Middle East & Africa: Green Tires Market Size, By Country, 2015–2022 (USD Million)
Table 48 Middle East & Africa: By Market Size, By Country, 2015–2022 (Thousand Units)
Table 49 Middle East & Africa: By Market Size, By Vehicle Type, 2015–2022 (USD Million)
Table 50 Middle East & Africa: By Market Size, By Vehicle Type, 2015–2022 (Thousand Units)
Table 51 Iran: By Market Size, By Vehicle Type, 2015-2022 (USD Million)
Table 52 Iran: By Market Size, By Vehicle Type, 2015–2022 (Thousand Units)
Table 53 South Africa: By Market Size, By Vehicle Type, 2015–2022 (USD Million)
Table 54 South Africa: By Market Size, By Vehicle Type, 2015–2022 (Thousand Units)
Table 55 Rest of Middle East & Africa: By Market Size, By Vehicle Type, 2015–2022 (USD Million)
Table 56 Rest of Middle East & Africa: By Market Size, By Vehicle Type, 2015–2022 (Thousand Units)
Table 57 South America: By Market Size, By Country, 2015–2022 (USD Million)
Table 58 South America: By Market Size, By Country, 2015–2022 (Thousand Units)
Table 59 South America: By Market Size, By Vehicle Type, 2015–2022 (USD Million)
Table 60 South America: By Market Size, By Vehicle Type, 2015–2022 (Thousand Units)
Table 61 Brazil: By Market Size, By Vehicle Type, 2015–2022 (USD Million)
Table 62 Brazil: By Market Size, By Vehicle Type, 2015–2022 (Thousand Units)
Table 63 Argentina: By Market Size, By Vehicle Type, 2015–2022 (USD Million)
Table 64 Argentina: By Market Size, By Vehicle Type, 2015–2022 (Thousand Units)
Table 65 Rest of South America: By Market Size, By Vehicle Type, 2015–2022 (USD Million)
Table 66 Rest of South America: By Market Size, By Vehicle Type, 2015–2022 (Thousand Units)
Table 67 Expansions (2015–2017)
Table 68 Joint Ventures, Partnerships, and Acquisitions (2015–2017)
Table 69 New Product Launches (2015–2017)
List of Figures (30 Figures)
Figure 1 Green Tires Market Segmentation
Figure 2 Green Tires Market: Research Design
Figure 3 On-Road to Be the Largest Application of Green Tires
Figure 4 Passenger Cars to Be the Largest Vehicle Type for Green Tires
Figure 5 APAC to Be the Fastest-Growing Market
Figure 6 Europe Is the Largest Green Tires Market
Figure 7 Green Tires Market to Witness Strong Growth Between 2017 and 2022
Figure 8 Passengers Cars to Be the Largest Vehicle Type for Green Tires
Figure 9 Europe to Be the Largest Green Tires Market
Figure 10 Passenger Cars Was the Largest Vehicle Type for Green Tires
Figure 11 APAC to Be the Fastest-Growing Market
Figure 12 Factors Governing Green Tires Market
Figure 13 Green Tires Market: Porter’s Five Forces Analysis
Figure 14 Vehicle Sales Worldwide, 2013-2017
Figure 15 Passenger Cars to Be the Dominating Vehicle Type for Green Tires
Figure 16 Passenger Car Sales Statistics, 2013-2017
Figure 17 LCVS Sales Statistics (2013-2017)
Figure 18 On-Road to Be the Dominating Application of Green Tires
Figure 19 Regional Green Tires Market Snapshot: Developing Economies are Emerging as New Hotspots
Figure 20 Europe: Green Tires Market Snapshot
Figure 21 APAC: Green Tires Market Snapshot
Figure 22 Companies Adopted Expansions and Joint Ventures, Partnerships, and Acquisitions as the Key Strategies Between 2015 and 2017
Figure 23 Michelin: Company Snapshot
Figure 24 Bridgestone : Company Snapshot
Figure 25 Goodyear : Company Snapshot
Figure 26 Continental: Company Snapshot
Figure 27 Hankook: Company Snapshot
Figure 28 Pirelli: Company Snapshot
Figure 29 Kumho : Company Snapshot
Figure 30 Nokian : Company Snapshot
Growth opportunities and latent adjacency in Green Tires Market