Green Tires Market Research Report Published by Market Research Future, Provides Analysis of Green Tires Market by Based on Raw Material, Vehicle Type, Application Type and Region during Forecast Period 2019-2023. Green Tires Market To Expand As Vehicular Pollution Drives Demand for Solutions.
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Some of the prominent players in the global green tires market are Michelin (France), Lanxess (Germany), Evonik Industries AG (Germany), Bridgestone Americas Tire Operations, LLC (US), MRF (India), Apollo Tyres (India), the Goodyear Tire & Rubber Company (US), Hankook Tire (South Korea), Pirelli Tire North America LLC (US), PPG Industries, Inc. (US), Green Arc Tire Manufacturing Inc. (Canada), Giti Tire Pte Ltd (Singapore), Sailun Tires (Canada), Cooper Tire & Rubber Company (US), and Nexen Tire America Inc. (US).
Green Tires Market Overview:
Pollution levels are high across the globe and there are several factors contributing to it. Air pollution due to rising traffic problems has prompted the overwhelming support for the development of efficient automotive vehicles with minimum environmental impact. Vehicle pollution results in high emissions of nitrogen oxide, carbon monoxide, and other pollutants. Green tires are one such solution. Market Research Future has analyzed the global green tires market in its new report for the forecast period from 2017 to 2023. The market for green tires is anticipated to witness considerable expansion over the forecast period.
The growing global consciousness for the environment among consumers and governments of various countries has prompted a huge and supportive demand for green tires, thus driving the growth of the market. Increasingly stringent regulations regarding emissions in developed economies are driving the adoption of green tires. Moreover, the growth of emerging economies has driven the demand for green tires in new and growing automotive vehicle sales.
Ongoing development of green tires using suitable materials has not yet resulted in the best solution. The uncertainty surrounding materials used is both a challenge and opportunity as it is driving R&D activities for the development of the same. Moreover, the lack of awareness regarding green tires in emerging countries will likely slow market growth over the review period.
Green Tires Market Segmentation:
Segmental analysis of the global green tires market has been performed on the basis of raw material, application, vehicle type, and region.
On the basis of raw material, the global green tires market has been segmented into silica incorporated rubbers, butyl rubber, silica and silane incorporated rubber, silane incorporated rubber, recycled rubber, renewable raw materials, and others. The silica incorporated rubber segment held the largest market share in 2017 due to the wide use of the raw material by manufacturers. However, the demand for silica and silane-based green tires is likely to increase during the forecast period.
Based on vehicle type, the global green tires market has been divided into passenger cars, light-duty vehicles, heavy-duty vehicles, motorcycles, aircraft, non-road diesel equipment, and others. The passenger cars segment accounted for the largest share of the global green tires market in 2017. The large-scale production of passenger cars along with the wide acceptance of green tires technology by manufactures is expected to boost the growth of the segmental market.
By application, the global green tires market has been segmented into on-road and off-road. The on-road application segment accounted for the largest share of the green tires market in 2017. On-road vehicles include passenger cars, light-duty vehicles, heavy-duty vehicles, motorcycles, and bicycles.
Regional Analysis of Green Tires Market:
The global green tires market has been analyzed with respect to five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Europe held the largest market share of the global green tires market in 2017 and is expected to maintain its dominance during the forecast period. Stringent environmental regulations for vehicle emissions, awareness of the benefits of green tires, and the presence of an established automotive industry in Germany contribute to the growth of the market in the region.
North America was the second-largest green tires market in 2017. Stringent regulations by the US Environmental Protection Agency (EPA) are positively influencing the product market in the region.
Asia-Pacific is another major market for green tires due to the growth of the automotive industry in China. Furthermore, rising per-capita income and a growing working population are boosting regional automotive sales, especially in India and Japan.
Green tires manufacturers
Traders and distributors of green tires
Research and development institutes
Raw material suppliers
Table of Content:
1 Executive Summary
2 Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.3 List of Assumptions
2.4 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
4 Market Landscape
4.1 Supply Chain Analysis
4.1.1 Raw Material Suppliers
4.1.4 End Users
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