The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The Business Research Company’s Green Tires Global Market Report 2024 offers crucial insights into the green tires market help businesses analyse and build stronger strategies.

The green tires market has witnessed rapid expansion in recent years, demonstrating significant growth from $100.9 billion in 2023 to $112.87 billion in 2024, reflecting an impressive Compound Annual Growth Rate (CAGR) of 11.9%. This growth in the historic period can be attributed to the increasing environmental awareness, stringent government regulations, rising consumer demand for eco-friendly products, an upswing in disposable income, and a surge in demand for mobility services.

Anticipating Accelerated Growth

The green tires market is poised for accelerated growth in the coming years, with projections estimating a surge to $180.64 billion in 2028, showcasing a robust CAGR of 12.5%. The forecasted growth is fueled by various factors including the proliferation of electric vehicles, the emergence of autonomous vehicles, rising urbanization, and overall economic expansion. Key trends in the forecast period include the integration of smart tire technology, electrification-optimized tires, cross-industry collaborations, and innovative tire-as-a-service models.

Surging Demand for Electric Vehicles Accelerates Growth in the Green Tires Market

Eco-Friendly Mobility: Driving the Market Momentum

The increasing demand for electric vehicles (EVs) is anticipated to be a primary driver for the continued growth of the green tires market. Electric vehicles, powered by electricity stored in rechargeable batteries, rely on green tires to maximize energy efficiency, extend driving range, minimize environmental impact, and align with the eco-friendly expectations of EV owners.

• In 2021, sales of electric vehicles nearly doubled to 6.6 million, capturing 9% of the market share.
• The total number of electric vehicles on the road reached 16.5 million, marking a significant shift towards sustainable mobility.
• Key market players driving this growth include Michelin, Bridgestone, and Goodyear.

Read The Full Green Tires Market Report Here:
https://www.thebusinessresearchcompany.com/report/green-tires-global-market-report

Sumitomo Rubber Industries Unveils Innovative Falken E.Ziex Tire, Catering to the Growing Demand for Electric Vehicle Tires in Europe

Innovative Offerings: Meeting the Evolving Needs

Major companies in the green tire market are adapting to the growing demand for electric vehicles with innovative products. Sumitomo Rubber Industries launched the FALKEN e.ZIEX, a replacement tire specifically designed for electric vehicles in Europe. This tire focuses on low rolling resistance, long wear life, and quiet performance, addressing the unique requirements of electric vehicles.

• The FALKEN e.ZIEX enhances the range and efficiency of electric vehicles.
• It offers low rolling resistance, long wear life, and quiet performance.
• The tire is available in a variety of sizes to accommodate diverse electric vehicle models.

Goodyear Acquires Cooper Tire & Rubber Company to Expand Portfolio and Drive Revenue Growth

Strategic Acquisitions: Expanding Market Presence

In a strategic move, Goodyear Tire & Rubber Company acquired Cooper Tire & Rubber Company for approximately $2.5 billion in February 2021. This acquisition aims to broaden Goodyear’s portfolio and unlock additional revenue growth opportunities. Cooper Tire & Rubber Company, specializing in light truck and SUV segments, strengthens Goodyear’s position in the market.

Segmentation Insights: Navigating Market Dimensions

Vehicle Type, Size, Sales Channel, and Application

1. By Vehicle Type:
   • Passenger Cars
   • Light Commercial Vehicles (LCV)
   • Heavy Commercial Vehicles (HCV)
2. By Size:
   • <10 Inch
   • 10-20 Inch
   • 20-30 Inch
3. By Sales Channel:
   • Aftermarket
   • Original Equipment Manufacturer (OEM)
4. By Application:
   • On-Road
   • Off-Road

Regional Leadership: Europe Takes the Lead

• Europe emerged as the largest region in the green tire market in 2023, showcasing the continent’s commitment to sustainable and eco-friendly mobility solutions.

Get A Free Sample On The Global Green Tires Market Report:
https://www.thebusinessresearchcompany.com/sample_request?id=5795&type=smp

The Green Tires Global Market Report 2024  provides a comprehensive outlook of the green tires market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The green tires market forecast offers a thorough analysis on green tires market size, green tires market share, prominent players and their strategies.

The Table Of Content For The Green Tires Market Include:
1. Green Tires Market Executive Summary
2. Green Tires Market Segments
3. Green Tires Market Size And Green Tires Market Growth Rate
4. Key Green Tires Market Trends
5. Major Green Tires Market Drivers
……
25. Key Mergers And Acquisitions In The Green Tires Market
26. Top Green Tires Companies
27. Green Tires Market Opportunities And Strategies
28. Green Tires Market, Conclusions And Recommendations
29. Appendix

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