Green Tires Market is likely to register at a stable CAGR through 2017 to 2023Posted by Harish Somani on September 20th, 2018 Highlight:An increasing environmental awareness among consumers is a key driver for the growth of the global green tires market. Stringent regulations for vehicle emissions in developed regions such as North America and Europe are another major factor fueling product demand.Vehicles are one of the largest contributors to air pollution across the world, producing significant amounts of nitrogen oxide, carbon monoxide, and other pollutants. Vehicle fuel efficiency greatly affects air pollution. The higher the rolling resistance—the friction between the tire and road surface of a vehicle’s tires, the more fuel is required to overcome the friction, leading to more pollutants being released. This has led companies to develop green tires, which reduce the rolling resistance while still ensuring driver safety and reducing emissions. While traditional tires are typically made of rubber, green tires are manufactured using raw materials such as silica incorporated rubber, butyl rubber, silica and silane incorporated rubber, silane incorporated rubber, recycled rubber, and renewable raw materials, among others. Intended Audience:
Segmentation:The Global Green Tires Market has been segmented by vehicle type, raw material, application, and region. Based on vehicle type, the global green tires market has been segregated into passenger cars, light-duty vehicles, heavy-duty vehicles, motorcycles, aircraft, non-road diesel equipment, and others. On the basis of raw material, the global green tires market has been divided into silica incorporated rubbers, butyl rubber, silica and silane incorporated rubber, silane incorporated rubber, recycled rubber, renewable raw materials, and others. On the basis of application, the global green tires market has been categorized as on-road and off-road. Regional Analysis:The Global Green Tires Market has been studied with respect to five regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. The European market dominated the global green tires market in 2017, followed by the markets in North America and Asia-Pacific. The demand for green tires is expected to increase in the Middle East & Africa during the forecast period. Latin America held the smallest market share due to slow economic development in the region. Global Key Players:The top players available in the Global Green Tires Market are; MRF (India), Apollo Tyres (India), the Goodyear Tire & Rubber Company (US), Michelin (France), Lanxess (Germany), Evonik Industries AG (Germany), Bridgestone Americas Tire Operations, LLC (US), Sailun Tires (Canada), Cooper Tire & Rubber Company (US), Hankook Tire (South Korea), Pirelli Tire North America LLC (US), PPG Industries Inc. (US), Green Arc Tire Manufacturing Inc. (Canada), Giti Tire Pte Ltd (Singapore), and Nexen Tire America Inc. (US). Receive Sample Copy of Report At: Like it? Share it! More by this author |