WILMINGTON, DE, UNITED STATES, December 9, 2024 /EINPresswire.com/ -- Allied Market Research published a new report, titled, " The Global Green Tire Market Size Reach USD 80.6 Billion by 2031 Growing at 8.7% CAGR." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global green tire market size was valued at $35.4 billion in 2021, and is projected to reach $80.6 billion by 2031, growing at a CAGR of 8.7% from 2022 to 2031.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧 𝐏𝐃𝐅 – 433 𝐏𝐚𝐠𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/2867

The factors such as government regulation & economic drivers, increase fuel efficiency, and reducing rolling resistance drive the growth of the global green tire market. However, lack of awareness about green tire and structural limitation is projected to restrict the market growth. Moreover, adoption of eco-friendly tire across the automotive industry and technological advancements in automotive sector present new opportunities in the coming years.

The green tire market is segmented into type, application, end-user, and region. By type, the market is divided into on-road tires and off-road tires. By application, it is fragmented into passenger car and commercial vehicles. By size, it is categorized into 15 inch, 16 inch, 17 inch, and 18 inches. By sales channel, it is classified into OEM and aftermarket. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

𝐈𝐟 𝐲𝐨𝐮 𝐡𝐚𝐯𝐞 𝐚𝐧𝐲 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬, 𝐏𝐥𝐞𝐚𝐬𝐞 𝐟𝐞𝐞𝐥 𝐟𝐫𝐞𝐞 𝐭𝐨 𝐜𝐨𝐧𝐭𝐚𝐜𝐭 𝐨𝐮𝐫 𝐚𝐧𝐚𝐥𝐲𝐬𝐭 𝐚𝐭: https://www.alliedmarketresearch.com/connect-to-analyst/2867

Based on tire size, the 15-inch segment held the highest market share in 2021, accounting for nearly half of the global green tire market, and is estimated to maintain its leadership status throughout the forecast period, due to the fact that smaller rim with a smaller tire result in offering a smooth ride. In addition, lower-inch tires are fuel-efficient, which encourages their adoption across the passenger car segment. However, the 18-inch segment is projected to manifest the highest CAGR of 11.6% from 2022 to 2031, due to the fact that 18 inches tires tend to retain high rigidity on the road. Moreover, research and developments by OEMs and tire manufacturers fuel the growth of the market.

Based on application, the passenger cars segment held the highest market share in 2021, accounting for more than half of the global green tire market, and is estimated to maintain its leadership status throughout the forecast period. This segment is projected to manifest the highest CAGR of 9.0% from 2022 to 2031, due to the exponential rise in demand for passenger cars, globally. In addition, rise in living standard of people due to a substantial increase in the per capita disposable income positively impacted the growth of the passenger vehicles market.

𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/2867

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2021, accounting for nearly two-fifths of the global green tire market, and is likely to dominate the market during the forecast period. This region is expected to witness the fastest CAGR of 9.4% from 2022 to 2031. The increase in consumer living standards aided by their surge in disposable income levels have enhanced automobile sales, thereby propelling the demand for tires in the region. Furthermore, the rise in usage of both light and heavy commercial vehicles in logistics and construction activities augments the market growth.

The leading players operating in the green tire market are MICHELIN, Continental AG, Bridgestone Corporation, Pirelli & C. S.p.A, The Goodyear Tire & Rubber Company, Hankook Tire & Technology, The Yokohama Rubber Co. Ltd., Petlas, Kumho Tire, and MRF.

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 (433 𝐏𝐚𝐠𝐞𝐬 𝐏𝐃𝐅 𝐰𝐢𝐭𝐡 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐂𝐡𝐚𝐫𝐭𝐬, 𝐓𝐚𝐛𝐥𝐞𝐬, 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/green-tire-market/purchase-options

Covid-19 Scenario

● The outbreak of the Covid-19 pandemic had a negative impact on the global green tire market, as carmakers had reduced production and some had stopped their vehicle production during the lockdown.

● Not only the production but also the sale of tires was hampered as consumers had postponed new car purchases.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

𝑶𝒕𝒉𝒆𝒓 𝑻𝒓𝒆𝒏𝒅𝒊𝒏𝒈 𝑹𝒆𝒑𝒐𝒓𝒕𝒔:

1. Vehicle Diesel Engine Market : https://www.alliedmarketresearch.com/vehicle-diesel-engine-market-A125642
2. Automotive Radiator Market : https://www.alliedmarketresearch.com/automotive-radiator-market-A11411
3. Autonomous Driving SoC Market : https://www.alliedmarketresearch.com/autonomous-driving-soc-market-A323750

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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