Global Green Tire Market Trends 2022 | Segmentation, Outlook, Industry Report to 2028.

The global green tire market is anticipated to grow at a significant CAGR of 10.2 %   during the forecast period (2022-2028). Growing energy costs, tight government regulations, and increased environmental awareness regarding fuel consumption among customers are driving the market’s growth during the forecast period. The benefits such as tire longevity, retreadability, and so on. Green tires are made using renewable resources such as nylon rubber and a low-energy technique. Tires are traditionally constructed of rubber, but as energy concerns have grown, renewable raw materials such as plasticizers and resins are now being used. These environmentally friendly raw materials are currently preferred over conventional raw materials due to advantages such as being lighter than conventional raw materials, resulting in a reduction in vehicle overall weight. It also consumes less fuel and aids in the reduction of rolling resistance which will further boost the market growth during the forecast period.

Tire and other automobile components are being replaced at a faster rate as passenger car sales rise across the globe, which will benefit market players. The increasing vehicle use and increased ride-hailing and car-sharing services in various nations is providing growth to the green tire sales.

According to the United States Environmental Protection Agency, burning fossil fuels for diesel, gasoline, and petroleum provides nearly 95 % of the world’s transportation energy. As a result, governments across the world are enacting policies to reduce carbon emissions.

Over the forecast period, the presence of a strong automotive industry in the US is likely to drive the North American green tire market. Furthermore, the US government has put in place rules to reduce greenhouse gas emissions, which is expected to promote green tire sales during the forecast period.

The federal greenhouse gas emission regulations for passenger and light commercial vehicles have been finalized by the Environmental Protection Agency (EPA) through 2026. By 2050, the new regulations are estimated to prevent nearly 3 billion tonnes of greenhouse gas emissions.

The tire producers are introducing new materials to promote sustainability and minimize emissions. Consumers are also looking for automobiles with better fuel economy, which is driving green tire sales. For instance, in March 2020, Goodyear announced the first-ever self-driving car. Goodyear offers a self-recharging design to extend tire life and make them extremely adaptable to various weather conditions. The Goodyear ReCharge is the company’s newest tire innovation, which features a liquid-filled capsule tread that can be supplied. The tread rubber is made out of a variety of organic ingredients and spider silk-based strands for added strength.

Competitive Landscape-

MICHELIN, Bridgestone Corp., The Goodyear Tire & Rubber Co., Continental AG, Hankook Tire & Technology, among others.

By Type

• On-Road
• Off-Road Tires

By Application

• Light Commercial Vehicles
• Passenger Cars
• Heavy Commercial Vehicles

By Sales Channel

• OEM
• Aftermarket

Scope of the Report
The research study analyzes the Global Green Tire industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:

Recent Developments
o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment

Geographic Coverage
o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume

Key Questions Answered by Global Green Tire Market Report
1. What was the Global Green Tire Market size in 2019 and 2021; what are the estimated growth trends and market forecast (2022-2028).

2. What will be the CAGR of Global Green Tire Market during the forecast period (2022-2028)?
   3. Which segments (product type/applications/end-user) were most attractive for investments in 2022? How these segments are expected to grow during the forecast period (2022-2028).
   4. Which manufacturer/vendor/players in the Global Green Tire Market was the market leader in 2021?
   5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.

The report covers the following objectives:

• Proliferation and maturation of trade in the Global Green Tire market.
• The market share of the Global Green Tire market, supply and demand ratio, growth revenue, supply chain analysis, and business overview.
• Current and future market trends that are influencing the growth opportunities and growth rate of the Global Green Tire market.
• Feasibility study, new market insights, company profiles, investment return, revenue (value), and consumption (volume) of the Global Green Tire market.