Green Tires Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

The green tires are those that are manufactured using sustainable materials. Also, low rolling resistance tires fall under this category as they improve fuel efficiency. Various tire manufacturers are indulging in research activities to contribute to the environment and the green movement. Various technological innovations, such as renewable rubbers and strategic partnerships with the government, have been emerging as a result. A positive outlook from the automotive industry is further expected to create growth prospects in the green tires market during the forecast period.

MARKET SCOPE

The "Global Green tires Market Analysis to 2031" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of the green tires market with detailed market segmentation by type, application, and geography. The report provides key statistics on the market status of the leading green tires market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on type, the global green tires market is segmented into off-highway and on roadn.
  
•   On the basis of application, the market is segmented into passenger cars, light commercial vehicle and heavy commercial vehcile.
  

MARKET DYNAMICS

Drivers:

•   The increasing consumer drive for greener substitutes and increasing environmental awareness is the key reason driving the growth of the green tires market.
  
•   Favorable and supportive government schemes and initiatives are further expected to influence the demand for green tires positively in the future.
  

Restraints

•   Low awareness in developing nations may hinder the growth of the green tires market during the forecast period.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The green tires market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the green tires market in these regions.

IMPACT OF COVID-19 ON GREEN TIRES MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

MARKET PLAYERS

The report covers key developments in the green tires market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from green tires market are anticipated to lucrative growth opportunities in the future with the rising demand for green tires in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the green tires market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Bridgestone Corp
  
•   Cheng Shin Rubber Ind. Co. Ltd.
  
•   Continental Reifen Deutschland GmbH
  
•   Hankook Tire and Technology Co., Ltd.
  
•   Kumho Tire Co Inc (Qingdao Doublestar)
  
•   Michelin Group
  
•   Nokian Tyres plc
  
•   Pirelli and C. S.p.A.
  
•   The Goodyear Tire and Rubber Company
  
•   ZC Rubber
  
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Green Tires Report Scope