Green Tires Global Market Report 2023

“Green Tires Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on green tires market market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for green tires market ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The green tires market market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

* The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

* The impact of higher inflation in many countries and the resulting spike in interest rates.

* The continued but declining impact of COVID-19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Vehicle Type: Passenger Cars; Light Commercial Vehicles (LCV); Heavy Commercial Vehicles (HCV)

• 2) By Application: On-Road; Off-Road

• 3) By Size: <10 Inch; 10-20 Inch; 20-30 Inch

• 4) By Sales Channel: Aftermarket; OEM

• Companies Mentioned: Michelin; Bridgestone; Goodyear Tire and Rubber; Continental; Hankook

• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

• Time series: Five years historic and ten years forecast.

• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

• Delivery Format: PDF, Word and Excel Data Dashboard.

Executive Summary

Major players in the green tyre market are: Michelin, Bridgestone, Goodyear Tire and Rubber, Continental, Hankook, Pirelli, Apollo Tyres Ltd., Cheng Shin Rubber Ind. Co. Ltd., Kumho Tire, Nokian Tyres plc, ZC Rubber, Sailun Tires, Shandong Linglong Tire Co. Ltd., The Yokohama Rubber Co. Ltd., and Kenda Tires.

The global green tires market grew from $90.81 billion in 2022 to $101.25 billion in 2023 at a compound annual growth rate (CAGR) of 11.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The green tires market is expected to grow to $157.43 billion in 2027 at a CAGR of 11.7%.

The green tire market consists of sales of round tires, bias tires, medium commercial vehicles, and retail sales. Values in this market are: 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

A "green tire" refers to a round-shaped part of an automotive tire that has all of its components assembled and is made of environmentally friendly rubber but has not yet been cured or given treads. When compared to other tyres such as semi-aromatic, styrene-butadiene rubbers or polycyclic hydrocarbons, green tyres improve fuel efficiency and lower greenhouse gas emissions.

Europe was the largest region in the green tyre market in 2022. The regions covered in the green tyre market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The vehicle types that use green tyres are passenger cars, light commercial vehicles (LCV), and heavy commercial vehicles (HCV). The passenger car segment includes green tyres manufactured for passenger vehicles. Green tyres are used in on-road and off-road applications. Green tyres are available in different sizes, such as 10 inches, 10-20 inches, and 20-30 inches. Green tyres are sold through aftermarket and OEM sales channels.

The increase in environmental awareness among consumers is driving the green tyre market. To create more awareness among people, many countries, such as the USA, China, South Korea, and Japan, have implemented tyre standards, ratings, labeling, and correct pressure programs. Due to the rising benefits of using green tires, such as eco-friendliness, high durability, fuel efficiency, and carbon emission reductions, consumers are opting for green tyres compared to conventional tires. In 2020, the European Commission published the final European Tyre Labelling Regulation, which provides consumers with awareness by providing information such as fuel efficiency, safety, rolling resistance, wet grip, and external rolling noise to consumers. Therefore, the rise in environmental awareness related to the use of eco-friendly tyres will propel the growth of the green tyre market.

Biobased rubber for green tyre manufacturing is a growing trend in the green tyre market. Companies are coming up with new technologies that utilise natural, renewable sources such as corn, grasses, and trees to obtain isoprene, the main ingredient in synthetic rubber. For example, in 2020, Birla Carbon and GranBio Technologies launched a bio-based tyre compound. By incorporating this compound, which is sustainable, bio-derived nanocellulose, into commercial rubber compounds, it can improve tyre rolling resistance and vehicle fuel economy.

In February 2021, Goodyear Tire & Rubber Company, a leading multinational tyre manufacturing company headquartered in the USA, acquired Cooper Tire & Rubber Company for around $2.5 billion. This acquisition will help Goodyear Tire & Rubber Company expand its portfolio and provide additional revenue growth opportunities. Cooper Tire & Rubber Company is an American company that manufactures replacement automobile and truck tires, specializing in light truck and SUV segments.

The countries covered in the Green Tires market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The green tyre research report is one of a series of new reports from The Business Research Company that provides green tyre statistics, including green tyre industry global market size, regional shares, competitors with green tyre shares, detailed green tyre segments, market trends and opportunities, and any further data you may need to thrive in the green tyre industry. This green tyre research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.