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The green tire industry, which is made up of low rolling resistance (LRR) tires and "green" (sustainable) materials, is a rapidly growing segment of the overall tire industry. The industry's rapid growth is due in part to the expansion of the tire market, but primarily to the growing public interest in sustainability. SMRs estimates that the global market for green tires will be 101,400 thousand units in 2020, accounting for approximately 38% of the global tire industry. According to the SMR Report for the Green Tire Market by 2027, the value and quantity will increase by nearly 10.4% annually by 2027, when the volume will reach nearly 202.680 thousand units.
Green Tire Market Report Scope and Research Methodology
The report provides a qualitative and qualitative segmentation analysis of the Green Tire Market. Market segmentation facilitates understanding of the Green Tire market structure. The regional insights highlight the use of Green Tire in the regions, with factors such as drivers, restraints, challenges, and opportunities influencing market growth. The report includes a competitive landscape that provides detailed information on the positions of key players in the Green Tire industry in terms of partnerships, business growth, and acquisitions.AUVs are equipped with GPS navigation and a variety of sensors such as video or still cameras, sonar, magnetometers, fluorometers, dissolved oxygen sensors, conductivity, pH sensors, and so on. However, because radio waves cannot travel through water, an AUV can only acquire a GPS signal while at the surface. These are the driving forces behind the expansion of Autonomous Underwater Vehicles in the Inspection, Repair, and Maintenance market.
Data from the Green Tire market was gathered using primary and secondary research methods. Secondary research sources include company annual reports, presentations, OEM vehicle sales publications, technical handbooks, and technical articles. Primary interviews were conducted with market experts and supply side representatives from across the region. The bottom-up approach was used to estimate the size and volume of the Green Tire market. The report also includes Porter's five forces analysis, which aids in understanding the Green Tire market from various angles.
Green Tire Market Report Overview:
The market research is based on major organization forecasts as well as market statistics. Green Tire Market research includes sales growth figures at several global, regional, and national market levels, as well as a competitive landscape for predicted periods and individual firm valuations. During the forecast period, the report provides growth variables, current Green Tire market share, various types, technologies, applications, and regional penetrations by 2029.
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Green Tire Market Key Players:
Michelin (France)
Bridgestone (Japan)
Goodyear Tire and Rubber (US)
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)
Nexen (South Korea)
MRF (India)
Petlas (Turkey)
BKT (India)
Green Tire Market Dynamics:
The growth of the middle class and the resulting increase in vehicle ownership in emerging markets, particularly in Asia, is the primary driver of the global Green Tire Market. With growing concerns about greenhouse gas emissions and the scarcity of natural resources to meet the demands of an increasing number of consumers, the industry is lobbying the government and the market for more sustainable products such as green tires. As a result, tire manufacturers are promoting sustainable tire technology, such as the use of renewable rubber in their products that performs as well as or better than traditional rubber. To drive the commercial development of renewable rubber, many tire manufacturers have strategic partnerships with governments, researchers, and biotechnology companies.
Green Tire Market Segmentation:
Green tires are constantly being optimized to achieve the lowest rolling resistance possible through the use of fillers such as highly dispersible silica (HD silica or HDS), improved carbon blacks, or nanotechnology. This segment dominated the green tire market in 2018 and will continue to do so until 2027. Other materials are contributing, some in terms of reducing rolling resistance, but also in terms of overall sustainability. Improvements in synthetic rubber characteristics and sustainability (i.e. nonpetroleum alternatives), as well as increased use and supply of natural rubber, are key areas of focus and innovation. Initially, the volume and value of emerging green technologies will be small, with greater commercial potential occurring after the forecast period.
Green Tire Market Regional Analysis:
Key Questions answered in the Green Tire Market Report are:
Key offerings:
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About Stellar Market Research
Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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