The OEMs segment will account for a considerable share of the overall automotive green tires market through 2027. This is due to the increasing engagements of OEMs in multi-year contracts or partnerships with raw material suppliers, further ensuring a steady supply chain. These OEMs have also started focusing on R&D initiatives and incorporate collaborative procedures for manufacturing green tires that are compliant with emission norms and regulations.
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An increase in the sales of SUVs at the global level owing to numerous advantages comprising rigid look, high center of gravity, high H-point, and ground clearance will bolster automotive green tires industry size through the assessment period.
The surging eminence of improved mobility vehicles for construction and agriculture applications and an increase in the number of adventure parks and trails will considerably spur product penetration in the other vehicles segment.
The rise in regulations related to vehicle emission levels along with the growing popularity of eco-friendly and sustainable vehicles is expected to boost the automotive green tires market share in the coming years. Notably, a green tire is retreadable, lightweight, and sensibly dimensioned with reduced rolling resistance, enhanced shelf-life, and a high fuel-efficiency.
These tires are designed and developed with the help of renewable materials. The manufacturing process does not require excessive energy and also does not generate high waste and pollution. Reports estimate that the global automotive green tires market could cross USD 175 billion in terms of total valuation by 2027.
Europe automotive green tires industry is anticipated to record a substantial share of over 20% through 2027. This is because regulatory bodies in Europe comprising federal and regional have implemented standards and regulations for the purpose of curbing vehicular emissions.
To that end, numerous policies have been drafted for escalating the adoption of electric automobiles, improving vehicle efficiency, and complementing product consumption in the region. increasing regional demand for luxury vehicles and a positive outlook towards the automotive industry, especially in France and Germany, will impel market share over the upcoming years.
The Latin America automotive green tires industry is slated to depict a remarkable growth rate of more than 10.5% between 2021 and 2027. This upsurge is ascribed to a rise in supportive trade policies and Foreign Direct Investments (FDIs). The region is witnessing an escalation in vehicle production, R&D activities, finance and other auto-centered activities, boosting regional product deployment through the forthcoming years.
Major automotive green tires industry players comprise Nokian Tyres Plc, Hankook Tire, Michelin, The Goodyear Tire & Rubber Company, Cheng Shin Rubber Ind. Co., Bridgestone Corporation, Continental AG, Zhongce Rubber Group Co., and Pirelli & C. S.p.A., Kumho Tire.
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Some Point from Table of Contents:
Chapter 5. Automotive Green Tires Market By Application
5.1. Automotive green tires market share by application, 2020 & 2027
5.2.1. Global on-road green tires market estimate & forecast, 2017 – 2027
5.2.2. Global on-road green tires market estimate & forecast, by region 2017 – 2027
5.3.1. Global off-road green tires market estimate & forecast, 2017 – 2027
5.3.2. Global off-road green tires market estimate & forecast, by region 2017 – 2027
Chapter 6. Automotive Green Tires Market By End-user
6.1. Automotive green tires market share by end-user, 2020 & 2027
6.2.1. Global OEM automotive green tires industry estimate & forecast, 2017 – 2027
6.2.2. Global OEM automotive green tires industry estimate & forecast, by region 2017 – 2027
6.3.1. Global aftermarket automotive green tires industry estimate & forecast, 2017 – 2027
6.3.2. Global aftermarket automotive green tires market estimate & forecast, by region 2017 – 2027
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