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Green Tire Market Overviews
Green Tire Market size was volume at 136441.08 thousand units in 2023 and the total Green Tire Market volume is expected to grow at 10.4% through 2024 to 2030, reaching nearly 272727.34 thousand units.
Composed of low rolling resistance (LRR) tires and "green" (sustainable) materials, the green tire industry is a fast-growing part of the overall tire industry. The rapid growth of the industry is partly due to the growth of the tire market itself, but mainly due to the growing public interest in sustainability. The global market for green tires is estimated by SMRs to be 101,400 thousand units in 2020, which will account for approximately 38% of the global tire industry. SMR Report for green tire market by 2027 predicts that value and quantity will increase by nearly 10.4% annually by 2027, when the volume reaches nearly 202.680 thousand units.
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Green Tire Market Scope and Methodology:
The main driver of the global Green Tire Market is the growth of the middle class and the consequent increase in vehicle ownership in emerging markets, especially in Asia. With growing concerns about greenhouse gas emissions and the limited availability of natural resources to meet the demands of more and more consumers, the industry is in the government and market for more sustainable products like green tires. As a result, tire manufacturers are promoting sustainable tire technology, including the inclusion of renewable rubber in their products that is equal to or better than traditional rubber. Many tire manufacturers have strategic partnerships with governments, researchers and biotechnology companies to drive the commercial development of renewable rubber.
Green Tire Market Regional Insights
In China, the common charge of an electric powered bicycle with lead-acid batteries is $167. According to Chinese Sustainability Survey, e-motorcycles in North America fee a mean of $815, even as the ones in Western Europe fee a mean of $1,546. China dominates the global green tire market, with estimates indicating that 83% of all e-motorcycles are offered on this Asian country. According to authorities estimates, there have been a hundred and eighty million e-motorcycles at the streets of China in 2013, that is considerably greater than everywhere else withinside the world.
For in-depth information on this study, visit the following link:https://www.stellarmr.com/report/Green-Tire-Market/402
Green Tire Market Segmentation
Green tires are continually being optimized to achieve the lowest possible rolling resistance by means of fillers such as highly dispersible silica (HD silica or HDS), improved carbon blacks or nanotechnology. This segment accounted for most of the green tire market in 2018, and will predominate through 2027. Other materials are contributing, some also from the standpoint of reducing rolling resistance, but also from that of general sustainability. Improvements in synthetic rubber attributes and sustainability (i.e. nonpetroleum alternatives) and the increased use and supply of natural rubber are key areas of attention and innovation. Initially, the emerging green technologies will be small in volume and value, with greater commercial potential occurring after the forecast period.
Green Tire Market Key Players
Continental (Germany)
Hankook (South Korea),
Pirelli (Italy)
Cheng Shin Rubber (China)
Kumho Tires (South Korea)
ZC Rubber (China)
Nokian Tires (Finland)
Apollo tires (India),
Sailun Tires (China)
Shandong Linlong Tire (China)
Kenda Tires (Taiwan)
Giti Rubber (Singapore)
Cooper (US)
Yokohama (Japan)
To Learn More About This Study, Please Click Here:https://www.stellarmr.com/report/Green Tire-Market/2094
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About Stellar Market Research:
Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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