What Is The Current and Historic Market Size Analysis Of The Automotive Green Tires Market?
The automotive green tires market has seen considerable growth due to a variety of factors.
• The automotive green tires market has shown solid growth, projected to rise from $10.95 billion in 2024 to $11.83 billion in 2025, reflecting a CAGR of 8.1%.
Key drivers include regulatory pressure to reduce emissions, advancements in tire technology, growing environmental awareness among consumers, rising fuel efficiency standards, the increase in hybrid and electric vehicle adoption, higher oil prices, and the automotive industry's shift toward sustainability.
What Is The Forecast For The Automotive Green Tires Market Size?
The automotive green tires market is expected to maintain its strong growth trajectory in upcoming years.
• The automotive green tires market is expected to grow strongly, reaching $15.98 billion by 2029 at a CAGR of 7.8%.
Growth is driven by advancements in autonomous driving, urbanization, electric vehicle adoption, and lifecycle sustainability. Key trends include consumer demand for eco-friendly products, stricter emission standards, battery technology advancements, and charging infrastructure expansion.
What Are The Essential Drivers Behind The Growth Of The Automotive Green Tires Market?
The adoption of electric vehicles (EVs) is expected to fuel the growth of the automotive green tires market. EVs, powered by electric motors and rechargeable batteries, are becoming more popular due to technological advancements, environmental concerns, and government incentives. Automotive green tires help improve the efficiency of EVs by reducing rolling resistance and using eco-friendly materials. According to the Electric Vehicle Council, EV sales in Australia surged by 269% in the first half of 2023. As the adoption of electric vehicles grows, so does the demand for automotive green tires.
How Is The Global Automotive Green Tires Market Divided Into Key Segments?
The automotive green tires market covered in this report is segmented –
1) By Type: Bias Tire, Radial Tire
2) By Material: Silica, Low-Aromatic Oils, Synthetic Rubber, Natural Rubber, Other Materials
3) By Propulsion Types: Electric, Hybrid, Plug-In Hybrid Electric Vehicles (PHEVs), Fuel Cell Electric Vehicles (FCEVs), Other Propulsion Types
4) By End Users: Individual Consumers, Fleet Operators, Original Equipment Manufacturers (OEMs), Other End Users
Subsegments:
1) By Bias Tire: Bias Ply Tires For Passenger Vehicles, Bias Ply Tires For Commercial Vehicles, Bias Ply Tires For Off-Road Vehicles, Bias Ply Tires For Agricultural Vehicles
2) By Radial Tire: Radial Tires For Passenger Cars, Radial Tires For Light Commercial Vehicles (Lcvs), Radial Tires For Heavy Commercial Vehicles (Hcvs), Radial Tires For Trucks And Buses, Radial Tires For Electric Vehicles (Evs)
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Which Emerging Market Trends Are Altering The Automotive Green Tires Industry?
Companies in the automotive green tire market are developing next-generation sustainable tires to offer environmentally friendly solutions. These tires use innovative materials and technologies to improve sustainability and performance. In March 2024, GRI Tires launched the GREEN XLR EARTH series and ULTIMATE GREEN XT tires, with the latter containing up to 93.5% sustainable materials. The Ultimate Green XT uses bio-sourced and recycled materials, enhancing performance while reducing environmental impact.
Who Are the Key Players In The Automotive Green Tires Market?
Major companies operating in the automotive green tires market are:
• Bridgestone Corporation
• Continental AG
• Michelin
• Goodyear Tire and Rubber Company
• Maxxis International Inc.
• Sumitomo Rubber Industries Ltd.
• Giti Tire Pte Ltd
• Pirelli & C.S.p.A
• Hankook Tire & Technology Co. Ltd.
• Yokohama Rubber Company
• MRF Tyres
• Apollo Tyres Limited
• Cooper Tire & Rubber Co
• Kumho Tire
• Nexen Tire Corp
• CEAT Limited
• Nokian Tyres plc
• The Triangle Group
• Linglong Americas Inc
• Zhongce Rubber Group
What Are The Regional Insights Into The Automotive Green Tires Market?
North America was the largest region in the automotive green tires market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive green tires market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
