Selbyville, Delaware, March 18, 2021 (GLOBE NEWSWIRE) --
Global Market Insights, Inc. has recently added a new report on the automotive green tires market which estimates the market valuation for automotive green tires will cross US$ 175 billion by 2027. Increasing regulations pertaining to vehicle emission reduction, rising popularity of sustainable & eco-friendly vehicles, and increasing global automotive demand will prosper the product demand.
A green tire is a lighter, retreadable, and sensibly dimensioned tire with lower rolling resistance, high fuel-efficiency, and prolonged life. These tires are produced using renewable materials. The production process does not require excessive energy and does not generate excessive waste & pollution.
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Rising demand for larger fleet automobiles to increase economies of scale in the logistics industry has augmented the demand for heavy trucks and trailers. Development in the global construction & infrastructure sector coupled with a positive outlook for the mining industry will augment the automotive green tires market.
Proliferating SUV sales across the globe due to various advantages such as high center of gravity, ground clearance, rigid look, high H-point, etc. Increasing eminence of enhanced mobility vehicles for agriculture and construction applications coupled with a rising number of adventure parks and trails will also significantly augment product penetration in the other vehicles segment.
OEM will hold significant share in automotive green tires market. OEMs engage in partnerships or multi-year contracts with raw material suppliers, ensuring a steady supply chain. OEMs incorporate collaborative procedures and focus on research & development to manufacture green tires that comply with regulations and emission norms.
Europe is likely to capture around 20% of the global automotive green tires market share. Regulatory bodies in Europe including regional and federal have implemented regulations and standards to curb vehicle emissions. Several policies have been drafted in the region to enhance vehicle efficiency, increasing the adoption of electric automobiles and complementing the regional product consumption. A positive outlook for the automotive industry, specifically in Germany and France coupled with increasing regional demand for luxury vehicles will prosper the regional market in the near future.
Latin America automotive green tires market is expected to witness growth rate of over 10.5% through 2027. Increasing Foreign Direct Investments (FDIs) along with supportive trade policies will propel the regional automotive industry growth. The regional market is witnessing R&D activities, vehicle production, finance, and other auto-centered activities, which will also prosper regional product usage in the near future.
Some major findings of the automotive green tires market report include:
- Growing demand for high-performance tires will positively influence market growth.
- Stringent regulations on tire labeling and emissions will positively influence the industry expansion.
- Major automotive green tires market players comprise Michelin, Bridgestone Corporation, The Goodyear Tire & Rubber Company, Hankook Tire, Continental AG, Pirelli & C. S.p.A., Cheng Shin Rubber Ind. Co., Zhongce Rubber Group Co., Kumho Tire, and Nokian Tyres Plc.
- Key strategies implemented by major manufacturers to strengthen their competitive edge in the market include investment in research & development for new product development and partnerships.
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Partial chapters of report table of contents (TOC):
Chapter 2. Executive Summary
2.1. Automotive green tires market 3600 synopsis, 2017 – 2027
2.1.1. Business trends
2.1.2. Vehicle trends
2.1.3. Application trends
2.1.4. End-user trends
2.1.5. Regional trends
Chapter 3. Automotive Green Tires Industry Insights
3.1. Industry segmentation
3.2. COVID-19 impact on industry
3.3. Industry ecosystem analysis
3.3.1. Value addition at each stage
3.3.2. COVID-19 impact on value chain
3.3.3. End-user analysis
3.3.4. Vendor matrix
3.3.4.1. List of key raw material suppliers
3.3.4.2. List of key product manufacturers/suppliers
3.3.4.3. List of potential customers
3.4. Technology landscape
3.5. Industry impact forces
3.5.1. Growth drivers
3.5.1.1. Rising vehicle sales
3.5.1.2. Growing product development & awareness among consumers
3.5.1.3. Increasing range of e-vehicles
3.5.2. Industry pitfalls & challenges
3.5.2.1. Fluctuating raw material prices
3.6. Growth potential analysis
3.7. Cost structure analysis
3.7.1. R&D cost
3.7.2. Raw material cost
3.7.3. Manufacturing & equipment cost
3.7.4. Distribution cost
3.7.5. Operating cost
3.7.6. Miscellaneous cost
3.8. Porter's analysis
3.9. Competitive landscape
3.9.1. Company market share analysis, 2020
3.9.2. Strategy dashboard
3.10. PESTEL analysis
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.