DUBLIN--(BUSINESS WIRE)--The "Green Tires Market by Vehicle Type (Passenger Cars, Light Commercial Vehicle), Application (On-Road, and Off-Road), and Region (North America, Asia-Pacific, Europe, South America, and Middle East & Africa) - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.
Government initiatives to reduce carbon emissions and tire labeling regulations are anticipated to drive the green tires market.
The green or low rolling resistance tires market is projected to reach USD 104.23 billion by 2022, at a CAGR of 10.7% from USD 62.68 billion in 2017.
One of the most significant factors driving the growth of the green tires market is the increased government initiatives for a green and clean environment. There is a rising concern over factors affecting the fuel efficiency of vehicles and CO2 emissions. Thus, governments across the globe have started several initiatives to reduce fuel consumption and release of greenhouse gases. However, lack of awareness regarding the benefits of green tires restricts the growth of the green tires market in emerging economies.
Based on vehicle type, the passenger cars segment is estimated to account for the largest share of the green tires market in 2017, in terms of value and volume. Passenger cars lead the automotive production across the globe. In recent years, automotive manufacturers have been focusing on fuel efficiency, which, in turn, has created a demand for fuel-efficient tires. Increased regulations regarding CO2 emissions are also driving the demand for green tires.
The green tires market in the APAC region is projected to grow at the highest CAGR during the forecast period, in terms of value and volume. China and India are the key markets for green tires in the APAC region. The increased demand for green tires for passenger cars is projected to fuel the growth of the green tires market in the region.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Green Tires Market, By Vehicle Type
7 Green Tires Market, By Application
8 Green Tires Market, By Region
9 Competitive Landscape
10 Company Profiles
- Apollo Tyres
- Cheng Shin Rubber
- Giti Rubber
- Kenda Tires
- Sailun Tires
- Shandong Linglong Tire Co., Ltd
- Toyo Tires
- ZC Rubber
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