Pune, Maharashtra -- (SBWIRE) -- 12/12/2019 -- Green Tire Market 2019

Description: -

Vehicles are considered as one of the largest contributors to the air pollution. The sole factor behind this is the large-scale use of fossil fuels. Although individual vehicles are not noted to produce a large amount of pollutants, the global popularity of them is likely to compound the contribution of the automotive sector to the mounting air pollution. Tires are by far one of the most vital parts of such automobiles, in terms of determining the release of pollutants by the relevant vehicle. The friction between the tires and the surface is crucial in this respect. Hence, for reducing the rolling resistance, green tires are introduced in the market and are witnessing remarkable adoption.

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Major Key Players

Zhongce Rubber Group Co., Ltd (ZC-Rubber), and Nokian Tyres plc, Michelin, Bridgestone Corporation, The Goodyear Tire & Rubber Company, Continental AG, Hankook Tire, Pirelli & C. S.p.A., among others are some of the major players in the global green tire market.

Green tires refer to tires that are manufactured from renewable materials such as nylon rubber through an energy-efficient process. Conventional tires are generally made out of rubber, but the rising energy concerns have provided impetus to the use of renewable raw materials such as resins and plasticizers. Presently, these environment-friendly raw materials are adopted on a higher scale, as compared to the conventional products owing to the benefits such as being lighter than conventional products, which has, in turn, resulted in the reduction of the overall weight of the vehicle. Furthermore, it requires less fuel and aids in lowering the rolling resistance.

Owing to all the above-mentioned reasons, the global green tires market is likely to witness impressive growth in the forthcoming years, as per the report. Some other key factors contributing to the surging adoption of green tires include the rising energy costs, introduction of stringent government regulations, and an up surging awareness towards environment-friendly procedures when it comes to fuel consumption among consumers. However, such shift towards the renewable raw materials from conventional methods and products are poised to restrict the global green tires market growth. Alternatively, upscaling urbanization and globalization, along with mounting environmental awareness and growing fuel consumption are bound to foster the green tires market growth in the forthcoming years.

Market Segmentation

The global green tires market is studied for a segmentation that is based on vehicle type, application, sales channel, and region. Based on vehicle type, the green tires market is segmented into passenger vehicle and commercial vehicles. Based on sales channel, the global green tires market is segmented into aftermarket and OEM. Based on application, the green tires market is segmented into off-road and on-road.

Detailed Regional Analysis

The green tires market is segmented into the regions of North America, South America, Asia Pacific, Europe, and the Middle East & Africa. At the beginning of the assessment period, Europe was dominating the global green tires market and is anticipated to maintain its stance over the forthcoming years. This region is also regarded as one of the biggest research hubs. North America is expected to expand fast, taking second place in the global green tires market. This can be causative to the fast adoption of green automotive technologies in the region.

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Table of Contents – Major Key Points

1 Executive Summary
2 Market Introduction
3 Research Methodology
4 Market Insights
5 Market Dynamics
6 Market Factor Analysis
7 Global Green Tire Market, by Vehicle Type

Continued….

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