그린 타이어 시장 : 차종별, 용도별, 타이어 사이즈별, 지역별(2024-2031년)

Green Tires Market Valuation - 2024-2031

The automotive industry is increasingly gravitating towards environmentally friendly solutions, driven by a growing consumer focus on sustainability and reducing carbon footprints. This shift has heightened the demand for green tires, which align with consumers' commitment to eco-friendly practices. Thus, the increasing focus on eco-friendly solutions and reducing carbon footprints surge the growth of market size surpassing USD 92.72 Billion in 2024 to reach a valuation of USD 189.97 Billion by 2031.

Green tires are designed to lower rolling resistance, improve fuel efficiency, and reduce fuel consumption. This trend is further accelerated by the automotive industry's commitment to sustainability, as original equipment manufacturers (OEMs) and tire producers integrate green initiatives into their operations. Reshaping consumer's preferences and increasing demand for tires contribute to environmental preservation. Thus, the lower rolling resistance and enhanced fuel efficiency enable the market to grow at aCAGR of 9.38% from 2024 to 2031.

Green Tires Market: Definition/ Overview

Green tires, also referred to as eco-friendly or environmentally friendly tires, represent a significant advancement in sustainable automotive technology. These tires are specifically designed to minimize environmental impact and enhance overall sustainability. The core innovations of green tires involve the use of renewable materials, advanced production processes, and cutting-edge technology aimed at reducing rolling resistance, thereby improving fuel efficiency and lowering carbon emissions.

The construction of green tires incorporates novel materials and manufacturing techniques that contribute to their ecological benefits. For instance, these tires often include components like silica, silane, and specialized resins. Silica, for example, enhances the tire's performance by improving its grip on wet surfaces, thus ensuring better safety and handling in adverse weather conditions. This material also plays a crucial role in reducing rolling resistance, which not only contributes to lower fuel consumption but also minimizes carbon emissions. Additionally, the incorporation of advanced plasticizers and tread technologies ensures that green tires offer robust performance while also being more energy-efficient.

Green tires are utilized across a broad spectrum of vehicles, from passenger cars to commercial fleets. Their adoption is integral to advancing global efforts towards greener transportation solutions, aligning with the increasing demand for sustainable practices within the automotive industry. The focus on recyclability and the use of eco-friendly materials reflects a growing commitment to reducing the environmental footprint of tire production and usage.

As automotive manufacturers become more attuned to environmental and energy concerns, there is a noticeable shift towards using renewable raw materials in tire production. This shift is not only driven by regulatory pressures and consumer demand but also by a broader industry trend towards incorporating sustainable practices. By improving traction, fuel efficiency, and safety while reducing environmental impact, green tires are poised to play a pivotal role in the transition towards more sustainable automotive technologies.

What's inside a VMR industry report?

Our reports include actionable data and forward-looking analysis that help you craft pitches, create business plans, build presentations and write proposals.

How does the Growing Concern about Carbon Emissions from Vehicles Surge the Growth of the Green Tires Market?

The rising concerns about carbon emissions from vehicles, a major contributor to air pollution due to the extensive use of fossil fuels, have spurred governments worldwide to enforce stringent emission norms. In Europe, for instance, the Tire Energy Label mandates that all tires sold meet specific standards regarding fuel efficiency, noise levels, and wet surface braking performance. This labeling helps consumers make informed choices, such as opting for tires that reduce air pollution and improve fuel economy. Tires rated 'A' on this scale consume about 7.5% less gasoline compared to those rated 'G' and offer superior braking performance on wet surfaces.

The role of rolling resistance in carbon emissions cannot be overstated. High rolling resistance increases the energy required for tire-road contact, leading to higher fuel consumption and greater pollutant emissions. Green tires are designed to address this issue by reducing rolling resistance through advanced tire structure, tread patterns, and rubber compounds. Since rolling resistance can account for up to 30% of fuel consumption in heavy vehicles, the demand for green tires is significant and growing. The benefits of green tires include reduced energy loss due to rolling resistance, which translates to fuel savings and lower overall costs over time.

The demand for green tires is not only driven by consumer preferences but also by increased vehicle usage and the rise of ride-sharing services, which contribute to greater tire wear and tear. Moreover, the expanding middle class, higher disposable incomes, and evolving customer preferences for fuel-efficient vehicles are expected to drive the green tire market. Investment in infrastructure and road networks further supports this trend, as improved road conditions complement the benefits of advanced tire technologies.

Government regulations, such as new tire labeling criteria proposed by the European Union, focus on enhancing wet grip, noise reduction, and fuel efficiency. Tire manufacturers are responding by prioritizing the production of fuel-efficient tires to meet these regulatory standards and reduce CO2 emissions. Leading companies, such as Continental AG, are actively developing green tires using renewable materials like natural rubber derived from dandelion seeds. The emphasis on incorporating sustainable bio-materials into tire production reflects a broader industry movement towards environmental responsibility. Increasing environmental awareness and stringent regulations on hazardous materials are set to drive the demand for green tires, aligning with the growing trend of using natural rubber and other sustainable materials throughout the forecast period.

How the Lack of Technological Expertise and Awareness Impede the Growth of Green Tires Market?

Lack of technological expertise and awareness regarding the development and benefits of green tires. Many potential consumers, particularly in emerging economies like India and Indonesia, remain unaware of how green tires contribute to reduced fuel consumption and environmental sustainability. This lack of awareness limits market penetration and adoption rates.

In addition, the engineering complexity involved in manufacturing green tires, and the higher cost associated with sustainable materials hamper the market growth. Green tires often require advanced production techniques and specialized equipment, which can be costly and may not be readily available in all regions. This is compounded by the need for further research and development to enhance the performance and durability of green tires, which can be resource-intensive and slow progress.

Infrastructure and existing manufacturing processes also pose challenges, as the tire industry may need significant adjustments to accommodate green tire production. Regulatory complexities and varying environmental standards across different regions can create additional barriers to market expansion. Furthermore, resistance from traditional tire manufacturers who rely on conventional materials and processes can slow the shift towards eco-friendly alternatives.

Consumer skepticism and perception barriers also play a role. Some consumers may question the performance and quality of green tires compared to traditional options, potentially deterring them from making the switch. Moreover, the limited availability of recycling infrastructure for green tires can impact the overall sustainability of these products, as effective recycling is crucial for managing end-of-life tires and mitigating environmental issues. The high initial investment required for green tires poses another challenge. Price-sensitive consumers and organizations may be reluctant to invest in green tires due to their higher upfront costs.

Category-Wise Acumens

How the Growing Vehicle Sales and Production Surge the Growth of On-Road Segment?

The on-road segment holds the largest share of the green tires market driven primarily by the significant presence of passenger cars and light commercial vehicles. This segment is experiencing robust growth due to several factors, including rising vehicle sales and production globally, accelerating urbanization, improvements in living standards, and increased consumer purchasing power. These trends are contributing to a heightened demand for on-road vehicles. Additionally, growing environmental concerns regarding high carbon emissions and the urgent need to reduce fuel consumption are pushing manufacturers and consumers towards adopting more environmentally friendly vehicles and components.

Prominent manufacturers are investing in the development of innovative tire designs that focus on low rolling resistance and enhanced mileage, thereby reducing overall vehicle costs and supporting the market's expansion in the on-road segment. The burgeoning interest in on-road vehicles, including passenger cars and light commercial vehicles, is further fueled by the increasing demand for e-commerce and e-retailing services, which is elevating consumer expectations. Additionally, government investments in road infrastructure and the critical role of supply chain and transportation are reinforcing the market's growth.

The rapid expansion of the logistics and e-commerce sectors is driving up demand for environmentally friendly and fuel-efficient commercial vehicles, thereby boosting the demand for green tires. Also, growing environmental consciousness among consumers and fleet operators, seeking fuel-efficient solutions to comply with stringent regulations.

Increasing emphasis on sustainable transportation and eco-conscious driving practices propel the growth of on-road applications in the market. Green tires designed for on-road use offer significant benefits, such as improved fuel efficiency, reduced rolling resistance, and lower carbon emissions, making them highly desirable in the automotive sector. Additionally, the growing need for eco-friendly alternatives and fuel savings among consumers and fleet operators is accelerating the demand for green tires. Government initiatives supporting cleaner mobility and stricter emission regulations highlight the importance of on-road green tires. As the commitment to sustainable practices intensifies and the push for greener, more fuel-efficient on-road vehicles continues, the dominance of this segment is expected to grow throughout the forecast period.

How does the Increasing Gravity Towards Sustainability and Environmentally Conscious Consumer Behavior Foster the Growth of Passenger Segment?

The passenger car segment shows significant growth in the green tire market owing to the focus on sustainability, environmentally conscious consumer behaviors, and the substantial number of passenger vehicles on the road. This segment benefits from a high volume of vehicles, creating a broad market base for green tires.

Consumers, increasingly aware of environmental issues, actively seeking eco-friendly automotive solutions. Green tires, which aim to reduce carbon emissions and enhance fuel efficiency, resonate strongly with environmentally conscious car owners. This shift in consumer preference has made the passenger car segment a crucial area for the adoption of green tires, reflecting the values and concerns of a significant portion of the customer base.

Moreover, rising awareness of climate change and a growing desire to minimize personal carbon footprints driving demand for green tires within the passenger car segment. As original equipment manufacturers (OEMs) integrate more sustainable practices into their production processes, the acceptance and prominence of green tires in this segment are expected to rise. This trend underscores the alignment of the passenger car market with broader environmental goals and the ongoing commitment to advancing green automotive technologies.

Country/Region-wise Acumens

How the Strict Government Regulations for the Reduction of Carbon Emission and Increasing Eco-Friendly Vehicles Surge the Growth of Green Tires Market in Europe?

Europe remains the dominant region in the green tire market, driven by stringent government regulations, the reduction of carbon emissions, and the promotion of environmentally friendly vehicles and components. The concept of green tires originated in Europe in the early 1990s with the introduction of silica and silane in tire treads, laying the groundwork for the market. Known as "energy tires" in Europe, these tires are designed to minimize rolling resistance, which aligns with the region's strict emission standards (EURO VI). Thus, European tire manufacturers and suppliers have embraced green tire technology, integrating it into their offerings to help automakers meet these rigorous standards.

Tires play a crucial role in enhancing fuel economy and reducing emissions. Major tire manufacturers and automotive companies in Europe are collaborating to develop next-generation eco-friendly tires. In Addition, the European Commission is working on post-2020 carbon dioxide emission standards for both passenger cars and commercial vehicles, which is expected to drive the adoption of green tires in both original equipment manufacturing (OEM) and the aftermarket.

Increasing environmental concerns, supportive government policies, rising interest in green technology, and substantial investments in regional transportation infrastructure. Germany is emerging as a strong player in the green tire sector, propelled by growing consumer demand for energy-efficient vehicles and government incentives. The transition from traditional to sustainable solutions, such as electric vehicles, is also accelerating the adoption of green tires, reinforcing Europe's position as a key leader in the global movement towards greener, more sustainable mobility.

How the Robust Automotive Industry and Abundant Raw Materials Enable the Growth of Green Tires Market in Asia Pacific?

Asia Pacific is anticipated to witness the fastest growth in the green tires market during the forecast period. The dynamic automotive industry in the Asia-Pacific region, particularly in countries like China, Japan, and India, is poised to significantly drive the growth of the green tire market in the coming years. This region offers a robust market landscape for green tires, bolstered by its extensive production capabilities, abundant raw materials, and well-established distribution networks.

China, in particular, has seen steady growth in its tire industry, fueled by the rapid expansion of the automotive sector. The presence of leading tire manufacturers and the increasing popularity of eco-friendly products are key drivers of market growth in China. Government initiatives to enhance energy efficiency, environmental protection, and safety standards for tires contribute to the green tires market in the region. In addition, rapid vehicle production and sales, are constant efforts to control pollution and enhance the energy efficiency of automobile vehicles. Tire manufacturers in the region are focusing on producing fuel-efficient tires that reduce overall CO2 emissions while offering cost-effective solutions for consumers. As environmental awareness rises, a growing segment of the middle class in Asia-Pacific is showing a preference for vehicles with eco-friendly features, including green tires.

Moreover, Asia-Pacific's commitment to sustainable practices aligns with the global trend towards environmentally friendly solutions, positioning the region as a significant player in the green tire market. With the ongoing expansion of the automotive industry in Asia-Pacific, the demand for green tires is anticipated to remain robust, contributing to the region's overall growth and dominance in the global green tire market.

Competitive Landscape

The competitive landscape of the green tires market is characterized by a dynamic interaction of many elements that contribute to overall industry growth. Collaboration between tire manufacturers and technology suppliers has been a widespread practice, resulting in the creation of environmentally friendly tire solutions. Furthermore, market competitors are increasingly focused on improving tire performance, durability, and safety while reducing environmental effects.

The organizations are focusing on innovating their product line to serve the vast population in diverse regions. Some of the prominent players operating in the green tires market include:

• Michelin
• Bridgestone
• Continental
• Goodyear
• Pirelli
• Yokohama
• Hankook
• ZF Friedrichshafen AG
• Sumitomo Rubber Industries
• Cheng Shin Rubber
• Cooper Tire & Rubber Company
• Apollo Tyres Ltd
• Nokian Tyres
• Mitas
• MRF Tyres
• Trelleborg AB
• Haohua Tyre Group Co., Ltd.

Latest Developments:

• In January 2024, Michelin announced a partnership with Enviro to develop a new sustainable silica material generated from rice husks, a byproduct of rice growing. This silica can be used in tire production, reducing reliance on fossil fuels and encouraging a circular economy.
• In January 2024, Bridgestone demonstrated its Enliten technology, which mixes bio-derived materials with revolutionary design to provide tires with decreased rolling resistance and environmental effects. The first Enliten tires are set to be released in 2025.
• In January 2024, Goodyear announced a collaboration with Ford to test and develop sustainable tires for electric vehicles. The emphasis will be on tires with low rolling resistance and excellent wet and cold weather performance.
• In March 2020, Goodyear announced the First Self-Regenerating Concept in Tires: Goodyear proposes a self-recharging concept to increase tire life and make them more adaptive to changing weather conditions. The Goodyear ReCharge is the latest tire innovation, with a tread that can be supplemented with liquid-filled capsules. The tread rubber is composed of several organic components and reinforced with spider silk-based fibers.
• In June 2022, Continental AG introduced VanContact Ultra tires for automobile applications, featuring strong construction and reduced rolling resistance for passenger and commercial vehicles.
• In May 2022, Goodyear announced to replace the petroleum-based materials in commercial tires with soybean oil-based materials to generate eco-friendly and sustainable tires.

TABLE OF CONTENTS

1 INTRODUCTION OF GLOBAL GREEN TIRES MARKET

• 1.1 Overview of the Market
• 1.2 Scope of Report
• 1.3 Assumptions

2 EXECUTIVE SUMMARY

3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH

• 3.1 Data Mining
• 3.2 Validation
• 3.3 Primary Interviews
• 3.4 List of Data Sources

4 GLOBAL GREEN TIRES MARKET OUTLOOK

• 4.1 Overview
• 4.2 Market Dynamics
  • 4.2.1 Drivers
  • 4.2.2 Restraints
  • 4.2.3 Opportunities
• 4.3 Porters Five Force Model
• 4.4 Value Chain Analysis
• 4.5 Regulatory Framework

5 GLOBAL GREEN TIRES MARKET, BY VEHICLE TYPE

• 5.1 Overview
• 5.2 Passenger Cars
• 5.3 Commercial Vehicle
• 5.4 Others

6 GLOBAL GREEN TIRES MARKET, BY APPLICATION

• 6.1 Overview
• 6.2 On-Road
• 6.3 Off-Road

7 GLOBAL GREEN TIRES MARKET, BY TIRE SIZE

• 7.1 Overview
• 7.2 Below 15
• 7.3 16
• 7.4 17
• 7.5 18
• 7.6 19
• 7.7 Above 19

8 GLOBAL GREEN TIRES MARKET, BY GEOGRAPHY

• 8.1 Overview
• 8.2 North America
  • 8.2.1 U.S.
  • 8.2.2 Canada
  • 8.2.3 Mexico
• 8.3 Europe
  • 8.3.1 Germany
  • 8.3.2 U.K.
  • 8.3.3 France
  • 8.3.4 Rest of Europe
• 8.4 Asia Pacific
  • 8.4.1 China
  • 8.4.2 Japan
  • 8.4.3 India
  • 8.4.4 Rest of Asia Pacific
• 8.5 Rest of the World
  • 8.5.1 Latin America
  • 8.5.2 Middle East and Africa

9 GLOBAL GREEN TIRES MARKET COMPETITIVE LANDSCAPE

• 9.1 Overview
• 9.2 Company Market ranking
• 9.3 Vendor Landscape
• 9.4 Key Development Strategies

10 COMPANY PROFILES

• 10.1 Michelin
  • 10.1.1 Overview
  • 10.1.2 Financial Performance
  • 10.1.3 Product Outlook
  • 10.1.4 Key Developments
• 10.2 Bridgestone
  • 10.2.1 Overview
  • 10.2.2 Financial Performance
  • 10.2.3 Product Outlook
  • 10.2.4 Key Developments
• 10.3 Continental
  • 10.3.1 Overview
  • 10.3.2 Financial Performance
  • 10.3.3 Product Outlook
  • 10.3.4 Key Developments
• 10.4 Goodyear
  • 10.4.1 Overview
  • 10.4.2 Financial Performance
  • 10.4.3 Product Outlook
  • 10.4.4 Key Developments
• 10.5 Pirelli
  • 10.5.1 Overview
  • 10.5.2 Financial Performance
  • 10.5.3 Product Outlook
  • 10.5.4 Key Developments
• 10.6 Yokohama
  • 10.6.1 Overview
  • 10.6.2 Financial Performance
  • 10.6.3 Product Outlook
  • 10.6.4 Key Developments
• 10.7 Hankook
  • 10.7.1 Overview
  • 10.7.2 Financial Performance
  • 10.7.3 Product Outlook
  • 10.7.4 Key Developments
• 10.8 ZF Friedrichshafen AG
  • 10.8.1 Overview
  • 10.8.2 Financial Performance
  • 10.8.3 Product Outlook
  • 10.8.4 Key Developments

11 KEY DEVELOPMENTS

• 11.1 Product Launches/Developments
• 11.2 Mergers and Acquisitions
• 11.3 Business Expansions
• 11.4 Partnerships and Collaborations

12 Appendix

• 12.1 Related Research