The automotive green tires market had an estimated market share worth US$ 11.5 billion in 2023, and it is predicted to reach a global market valuation of US$ 25 billion by 2034, growing at a steady CAGR of 4.5% from 2024 to 2034.
Demand for eco-friendly tires is increasing as customers become more aware of the environmental effect of conventional tires along with the benefits of green alternatives. Growing consumer awareness of environmental issues has led to an increase in the demand for green tires, which has expanded the industry and spurred more innovation in environmentally friendly tire solutions.
Sales Analysis of Automotive Green Tires
| Report Attribute | Details |
|---|---|
| Estimated Market Value in 2023 | US$ 11.5 billion |
| Expected Market Value for 2024 | US$ 12.4 billion |
| Projected Forecast Value in 2034 | US$ 25 billion |
| Anticipated Growth Rate from 2024 to 2034 | 4.5% CAGR |
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The demand for the automotive green tires market was estimated to reach a valuation of US$ 8.2 billion in 2019, according to a report from Future Market Insights. From 2019 to 2023, sales witnessed significant growth in the automotive green tires market, registering a CAGR of 8.9%.
| Historical CAGR from 2019 to 2023 | 8.9% |
|---|---|
| Forecast CAGR from 2024 to 2034 | 4.5% |
The market for automotive green tires is driven by technological developments in tire production, such as the development of innovative materials and manufacturing techniques. These advances will fuel market expansion by making it possible to produce tires with better performance attributes including decreased rolling resistance, increased durability, and greater sustainability.
Some important factors that will boost the market growth through 2034 are:
Consumer Inclination towards Eco Friendly and Fuel Efficient Vehicles to Bolster Sales
The growing customer desire for environmentally friendly and fuel-efficient cars is a major factor propelling the market for automotive green tires. Customers are actively looking for environmentally friendly transportation solutions that reduce their carbon impact as environmental awareness rises.
Green tires suit these desires because they are recognized for their capacity to improve fuel economy and lower emissions. The market for automobile green tires is expanding as a result of automakers incorporating green tire technology into their lineup of vehicles to satisfy consumer demand for eco-friendly options.
Increasing Focus on Environmental Sustainability to Bolster demand globally
The growing emphasis on environmental sustainability and the need to minimize carbon emissions are key drivers of the automotive green tire market. As global concerns about climate change rise, countries throughout the world are enacting more stringent laws designed to lower car emissions.
This encourages both customers and automakers to look for environmentally friendly options, including green tires, which provide better fuel economy and less rolling resistance while also supporting market expansion and sustainability objectives.
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Supply Chain Disruptions to Stifle the Market Growth
The market for automotive green tires is being hindered by supply chain interruptions brought on by things like labor shortages, delays in shipping, and shortages of raw materials. These issues cause delays in production and higher expenses because they interfere with manufacturing procedures.
Trade tensions and uncertainty surrounding the state of the world economy intensify market issues and impede the smooth growth and development of the automobile green tire sector.
This section focuses on providing detailed analysis of two particular market segments for automotive green tires, the dominant vehicle type and the significant end user. The two main segments discussed below are passenger vehicles and OEM.
| Vehicle Type | Passenger Vehicle |
|---|---|
| CAGR from 2024 to 2034 | 7% |
During the forecast period, the passenger vehicle segment is likely to garner a 7% CAGR. Green tires are expected to be widely used in passenger vehicles for a number of important reasons.
Green tires, which minimize environmental effect and reduce carbon emissions, are in high demand as a result of the increased consumer awareness of environmental issues and their desire to choose eco-friendly options. Green tires also provide improved fuel efficiency, which saves drivers money over time.
In order to comply with strict emissions regulations and fulfill customer expectations for environmentally friendly transportation options, manufacturers of automobiles are compelled by governmental pressures to emphasize sustainability, which has resulted in the widespread incorporation of green tire technology.
| End User | OEM |
|---|---|
| Market Share in 2024 | 51.2% |
In 2024, the OEM segment is likely to acquire a 51.2% global market share. Green tires are expected to be widely used in the OEM (Original Equipment Manufacturer) sector for a variety of reasons. In order to comply with environmental requirements, manufacturers are compelled by strict emissions restrictions to integrate eco-friendly parts, such as tires, into their vehicles.
OEMs aim to conform to customer preferences while acknowledging the market demand for sustainable goods. Green tires support the objectives of OEMs for increased performance and sustainability by providing noticeable advantages like less carbon footprint and increased fuel economy.
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The markets for automotive green tires in a few significant countries, including the United States, the United Kingdom, China, Japan, and South Korea, will be covered in detail in this section. The section will focus on the significant factors driving up demand for automotive green tires in these countries.
| Countries | CAGR |
|---|---|
| The United States | 7.5% |
| The United Kingdom | 8.3% |
| China | 7.8% |
| Japan | 8.8% |
| South Korea | 9.3% |
The United States automotive green tires is anticipated to gain a CAGR of 7.5% through 2034. Factors that are bolstering the growth are:
The market in the United Kingdom is expected to expand with an 8.3% CAGR through 2034. The factors pushing the growth are:
The automotive green tires ecosystem in China is anticipated to develop with a 7.8% CAGR from 2024 to 2034. The drivers behind this growth are:
The automotive green tires industry in Japan is anticipated to reach an 8.8% CAGR from 2024 to 2034. The drivers propelling growth forward are:
The automotive green tires ecosystem in South Korea is likely to evolve with a 9.3% CAGR during the forecast period. The factors bolstering the growth are:
Companies in the global automotive green tires market are concentrating more on producing environmentally friendly tire solutions to solve sustainability issues and minimize carbon footprint. Significant companies are funding research and development to create novel materials and production techniques that reduce energy use and emissions over the course of the lifespan of a tire.
Companies are working with manufacturers to incorporate green tire technology into cars, encouraging fuel economy and cutting greenhouse gas emissions. Companies are committed to meeting the increasing demand from consumers for sustainable transportation solutions, as seen by their strategic alliances and investments in environmentally friendly projects. The key players in this market include:
Significant advancements in the automotive green tires sector are being made by key market participants, and these include:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.5% from 2024 to 2034 |
| Market value in 2024 | US$ 12.4 billion |
| Market value in 2034 | US$ 25 billion |
| Base Year for Estimation | 2023 |
| Historical Data | 2019 to 2023 |
| Forecast Period | 2024 to 2034 |
| Quantitative Units | US$ billion for value |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Countries Profiled |
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| Key Companies Profiled |
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| Customization Scope | Available on Request |
The automotive green tires market is expected to garner a 4.5% CAGR from 2024 to 2034.
By 2024, the global automotive green tires market is likely to gain US$ 12.4 billion.
By 2034, the automotive green tires market valuation is likely to reach a sum of US$ 25 billion.
The automotive green tires industry in the United States is likely to garner a 7.5% CAGR during the forecast period.
The passenger vehicles will be using automotive green tires solution along with a 7% CAGR through 2034.
The OEM sector is likely to be a significant end user for automotive green tires with a 6.8% CAGR through 2034.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2019 to 2023 4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2024 to 2034 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Vehicle Type 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Vehicle Type, 2019 to 2023 5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Vehicle Type, 2024 to 2034 5.3.1. Passenger Vehicles 5.3.2. Commercial Vehicles 5.4. Y-o-Y Growth Trend Analysis By Vehicle Type, 2019 to 2023 5.5. Absolute $ Opportunity Analysis By Vehicle Type, 2024 to 2034 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End-User Type 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By End-User Type, 2019 to 2023 6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By End-User Type, 2024 to 2034 6.3.1. OEM 6.3.2. Aftermarket 6.4. Y-o-Y Growth Trend Analysis By End-User Type, 2019 to 2023 6.5. Absolute $ Opportunity Analysis By End-User Type, 2024 to 2034 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2019 to 2023 7.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2024 to 2034 7.3.1. North America 7.3.2. Latin America 7.3.3. Europe 7.3.4. East Asia 7.3.5. South Asia 7.3.6. Oceania 7.3.7. MEA 7.4. Market Attractiveness Analysis By Region 8. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 8.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 8.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 8.2.1. By Country 8.2.1.1. USA 8.2.1.2. Canada 8.2.2. By Vehicle Type 8.2.3. By End-User Type 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Vehicle Type 8.3.3. By End-User Type 8.4. Key Takeaways 9. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 9.2.1. By Country 9.2.1.1. Brazil 9.2.1.2. Mexico 9.2.1.3. Argentina 9.2.1.4. Rest of Latin America 9.2.2. By Vehicle Type 9.2.3. By End-User Type 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Vehicle Type 9.3.3. By End-User Type 9.4. Key Takeaways 10. Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 10.2.1. By Country 10.2.1.1. Germany 10.2.1.2. Italy 10.2.1.3. France 10.2.1.4. UK 10.2.1.5. Spain 10.2.1.6. Russia 10.2.1.7. BENELUX 10.2.1.8. Rest of Europe 10.2.2. By Vehicle Type 10.2.3. By End-User Type 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Vehicle Type 10.3.3. By End-User Type 10.4. Key Takeaways 11. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 11.2.1. By Country 11.2.1.1. China 11.2.1.2. Japan 11.2.1.3. South Korea 11.2.2. By Vehicle Type 11.2.3. By End-User Type 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Vehicle Type 11.3.3. By End-User Type 11.4. Key Takeaways 12. South Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 12.2.1. By Country 12.2.1.1. India 12.2.1.2. Thailand 12.2.1.3. Malaysia 12.2.1.4. Indonesia 12.2.1.5. Rest of South Asia 12.2.2. By Vehicle Type 12.2.3. By End-User Type 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Vehicle Type 12.3.3. By End-User Type 12.4. Key Takeaways 13. Oceania Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 13.2.1. By Country 13.2.1.1. Australia 13.2.1.2. New Zealand 13.2.2. By Vehicle Type 13.2.3. By End-User Type 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Vehicle Type 13.3.3. By End-User Type 13.4. Key Takeaways 14. MEA Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 14.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 14.2.1. By Country 14.2.1.1. GCC 14.2.1.2. Rest of MEA 14.2.2. By Vehicle Type 14.2.3. By End-User Type 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Vehicle Type 14.3.3. By End-User Type 14.4. Key Takeaways 15. Key Countries Market Analysis 15.1. USA 15.1.1. Pricing Analysis 15.1.2. Market Share Analysis, 2023 15.1.2.1. By Vehicle Type 15.1.2.2. By End-User Type 15.2. Canada 15.2.1. Pricing Analysis 15.2.2. Market Share Analysis, 2023 15.2.2.1. By Vehicle Type 15.2.2.2. By End-User Type 15.3. Brazil 15.3.1. Pricing Analysis 15.3.2. Market Share Analysis, 2023 15.3.2.1. By Vehicle Type 15.3.2.2. By End-User Type 15.4. Mexico 15.4.1. Pricing Analysis 15.4.2. Market Share Analysis, 2023 15.4.2.1. By Vehicle Type 15.4.2.2. By End-User Type 15.5. Argentina 15.5.1. Pricing Analysis 15.5.2. Market Share Analysis, 2023 15.5.2.1. By Vehicle Type 15.5.2.2. By End-User Type 15.6. Germany 15.6.1. Pricing Analysis 15.6.2. Market Share Analysis, 2023 15.6.2.1. By Vehicle Type 15.6.2.2. By End-User Type 15.7. Italy 15.7.1. Pricing Analysis 15.7.2. Market Share Analysis, 2023 15.7.2.1. By Vehicle Type 15.7.2.2. By End-User Type 15.8. France 15.8.1. Pricing Analysis 15.8.2. Market Share Analysis, 2023 15.8.2.1. By Vehicle Type 15.8.2.2. By End-User Type 15.9. UK 15.9.1. Pricing Analysis 15.9.2. Market Share Analysis, 2023 15.9.2.1. By Vehicle Type 15.9.2.2. By End-User Type 15.10. Spain 15.10.1. Pricing Analysis 15.10.2. Market Share Analysis, 2023 15.10.2.1. By Vehicle Type 15.10.2.2. By End-User Type 15.11. Russia 15.11.1. Pricing Analysis 15.11.2. Market Share Analysis, 2023 15.11.2.1. By Vehicle Type 15.11.2.2. By End-User Type 15.12. BENELUX 15.12.1. Pricing Analysis 15.12.2. Market Share Analysis, 2023 15.12.2.1. By Vehicle Type 15.12.2.2. By End-User Type 15.13. China 15.13.1. Pricing Analysis 15.13.2. Market Share Analysis, 2023 15.13.2.1. By Vehicle Type 15.13.2.2. By End-User Type 15.14. Japan 15.14.1. Pricing Analysis 15.14.2. Market Share Analysis, 2023 15.14.2.1. By Vehicle Type 15.14.2.2. By End-User Type 15.15. South Korea 15.15.1. Pricing Analysis 15.15.2. Market Share Analysis, 2023 15.15.2.1. By Vehicle Type 15.15.2.2. By End-User Type 15.16. India 15.16.1. Pricing Analysis 15.16.2. Market Share Analysis, 2023 15.16.2.1. By Vehicle Type 15.16.2.2. By End-User Type 15.17. Thailand 15.17.1. Pricing Analysis 15.17.2. Market Share Analysis, 2023 15.17.2.1. By Vehicle Type 15.17.2.2. By End-User Type 15.18. Malaysia 15.18.1. Pricing Analysis 15.18.2. Market Share Analysis, 2023 15.18.2.1. By Vehicle Type 15.18.2.2. By End-User Type 15.19. Indonesia 15.19.1. Pricing Analysis 15.19.2. Market Share Analysis, 2023 15.19.2.1. By Vehicle Type 15.19.2.2. By End-User Type 15.20. Australia 15.20.1. Pricing Analysis 15.20.2. Market Share Analysis, 2023 15.20.2.1. By Vehicle Type 15.20.2.2. By End-User Type 15.21. New Zealand 15.21.1. Pricing Analysis 15.21.2. Market Share Analysis, 2023 15.21.2.1. By Vehicle Type 15.21.2.2. By End-User Type 15.22. GCC Countries 15.22.1. Pricing Analysis 15.22.2. Market Share Analysis, 2023 15.22.2.1. By Vehicle Type 15.22.2.2. By End-User Type 16. Market Structure Analysis 16.1. Competition Dashboard 16.2. Competition Benchmarking 16.3. Market Share Analysis of Top Players 16.3.1. By Regional 16.3.2. By Vehicle Type 16.3.3. By End-User Type 17. Competition Analysis 17.1. Competition Deep Dive 17.1.1. Bridgestone Corporation 17.1.1.1. Overview 17.1.1.2. Product Portfolio 17.1.1.3. Profitability by Market Segments 17.1.1.4. Sales Footprint 17.1.1.5. Strategy Overview 17.1.1.5.1. Marketing Strategy 17.1.1.5.2. Product Strategy 17.1.1.5.3. Channel Strategy 17.1.2. Continental AG 17.1.2.1. Overview 17.1.2.2. Product Portfolio 17.1.2.3. Profitability by Market Segments 17.1.2.4. Sales Footprint 17.1.2.5. Strategy Overview 17.1.2.5.1. Marketing Strategy 17.1.2.5.2. Product Strategy 17.1.2.5.3. Channel Strategy 17.1.3. Michelin Group 17.1.3.1. Overview 17.1.3.2. Product Portfolio 17.1.3.3. Profitability by Market Segments 17.1.3.4. Sales Footprint 17.1.3.5. Strategy Overview 17.1.3.5.1. Marketing Strategy 17.1.3.5.2. Product Strategy 17.1.3.5.3. Channel Strategy 17.1.4. Apollo Tyres Limited 17.1.4.1. Overview 17.1.4.2. Product Portfolio 17.1.4.3. Profitability by Market Segments 17.1.4.4. Sales Footprint 17.1.4.5. Strategy Overview 17.1.4.5.1. Marketing Strategy 17.1.4.5.2. Product Strategy 17.1.4.5.3. Channel Strategy 17.1.5. Yokohama Tire Corporation 17.1.5.1. Overview 17.1.5.2. Product Portfolio 17.1.5.3. Profitability by Market Segments 17.1.5.4. Sales Footprint 17.1.5.5. Strategy Overview 17.1.5.5.1. Marketing Strategy 17.1.5.5.2. Product Strategy 17.1.5.5.3. Channel Strategy 17.1.6. Goodyear Tire & Rubber Company 17.1.6.1. Overview 17.1.6.2. Product Portfolio 17.1.6.3. Profitability by Market Segments 17.1.6.4. Sales Footprint 17.1.6.5. Strategy Overview 17.1.6.5.1. Marketing Strategy 17.1.6.5.2. Product Strategy 17.1.6.5.3. Channel Strategy 17.1.7. Pirelli & C. Spa 17.1.7.1. Overview 17.1.7.2. Product Portfolio 17.1.7.3. Profitability by Market Segments 17.1.7.4. Sales Footprint 17.1.7.5. Strategy Overview 17.1.7.5.1. Marketing Strategy 17.1.7.5.2. Product Strategy 17.1.7.5.3. Channel Strategy 17.1.8. Toyo Tire Corporation 17.1.8.1. Overview 17.1.8.2. Product Portfolio 17.1.8.3. Profitability by Market Segments 17.1.8.4. Sales Footprint 17.1.8.5. Strategy Overview 17.1.8.5.1. Marketing Strategy 17.1.8.5.2. Product Strategy 17.1.8.5.3. Channel Strategy 17.1.9. MRF Limited 17.1.9.1. Overview 17.1.9.2. Product Portfolio 17.1.9.3. Profitability by Market Segments 17.1.9.4. Sales Footprint 17.1.9.5. Strategy Overview 17.1.9.5.1. Marketing Strategy 17.1.9.5.2. Product Strategy 17.1.9.5.3. Channel Strategy 17.1.10. CEAT Limited 17.1.10.1. Overview 17.1.10.2. Product Portfolio 17.1.10.3. Profitability by Market Segments 17.1.10.4. Sales Footprint 17.1.10.5. Strategy Overview 17.1.10.5.1. Marketing Strategy 17.1.10.5.2. Product Strategy 17.1.10.5.3. Channel Strategy 18. Assumptions & Acronyms Used 19. Research Methodology
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Automotive Green Tires Market
