Automotive Green Tires Global Market Report 2024

Automotive green tires are tires designed and manufactured with a focus on environmental sustainability. They typically incorporate recycled materials, reduce rolling resistance to improve fuel efficiency, and minimize the use of harmful chemicals during production. The goal of green tires is to decrease carbon emissions and environmental impact compared to traditional tire manufacturing processes.

The primary types of automotive green tires include bias tires and radial tires. Bias tires are constructed with internal ply cords laid diagonally across the tire, usually at an angle of 30-45 degrees relative to the tread centerline. Materials used include silica, low-aromatic oils, synthetic rubber, natural rubber, and others. Various technologies are employed, such as low rolling resistance (LRR) tires, self-inflating tires, and conventional tires. These tires serve different propulsion types including electric, hybrid, plug-in hybrid electric vehicles (PHEVs), fuel cell electric vehicles (FCEVs), and others. They are utilized by various end users, including individual consumers, fleet operators, and original equipment manufacturers (OEMs).

The automotive green tire research report is one of a series of new reports that provides automotive green tire market statistics, including the automotive green tire industry's global market size, regional shares, competitors with an automotive green tire market share, detailed automotive green tire market segments, market trends and opportunities, and any further data you may need to thrive in the automotive green tire industry. This automotive green tire market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The automotive green tires market size has grown strongly in recent years. It will grow from $10.16 billion in 2023 to $10.95 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. Historical growth can be credited to regulatory mandates for lower emissions, tire technology improvements, heightened consumer environmental awareness, stricter fuel efficiency requirements, increased adoption of hybrid and electric vehicles, higher oil costs, and the automotive sector's move towards sustainability.

The automotive green tires market size is expected to see strong growth in the next few years. It will grow to $14.84 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The projected growth is anticipated due to advancements in autonomous driving, the emergence of smart cities and urbanization, the shift towards electric vehicles, and progress in sustainable lifecycle alternatives. Key trends in the forecast period encompass increasing consumer awareness and demand, global governments enforcing stricter emission regulations, developments in battery technology, and the expansion of charging infrastructure.

The automotive green tires market is poised for growth, driven by the increasing adoption of electric vehicles (EVs). EVs, which utilize rechargeable batteries instead of internal combustion engines, are gaining popularity due to technological advancements, environmental concerns, government incentives, and cost reductions. Automotive green tires are crucial for maximizing EV range efficiency and reducing environmental impact through lower rolling resistance and eco-friendly materials. For example, in July 2023, electric vehicle sales in Australia surged, surpassing total sales for 2022 and accounting for 8.4% of new car sales, a significant increase from the previous year.

Leading companies in the automotive green tire sector are innovating with products such as next-generation sustainable tires. These advanced tires feature innovative materials and technologies aimed at enhancing environmental sustainability, performance, and efficiency. For instance, in March 2024, GRI Tires launched the GREEN XLR EARTH series and ULTIMATE GREEN XT tires, with high percentages of sustainable materials such as bio-sourced and recycled components. The tires utilize a tread compound with highly dispersible silica and no carbon black, reducing abrasion loss and environmental impact.

In May 2023, Yokohama Rubber Co. Ltd., a Japanese tire manufacturer, purchased Trelleborg Wheel Systems for an undisclosed sum. This acquisition forms a crucial component of Yokohama Rubber's strategic efforts to enhance its off-highway tire (OHT) division, identified as a key growth driver within the company's commercial tire business under Yokohama Transformation 2023. Trelleborg Wheel Systems Holding AB, a Swedish company specializing in off-highway tires, has concentrated on the advancement and production of environmentally friendly automotive tires.

Major companies operating in the automotive green tires market are Bridgestone Corporation, Continental AG, Michelin, Goodyear Tire and Rubber Company, Maxxis International Inc., Sumitomo Rubber Industries Ltd., Giti Tire Pte Ltd, Pirelli & C.S.p.A, Hankook Tire & Technology Co. Ltd., Yokohama Rubber Company, MRF Tyres, Apollo Tyres Limited, Cooper Tire & Rubber Co, Kumho Tire, Nexen Tire Corp, CEAT Limited, Nokian Tyres plc, The Triangle Group, Linglong Americas Inc, Zhongce Rubber Group.

North America was the largest region in the automotive green tires market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive green tires market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the automotive green tires market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The automotive green tires market consists of sales of low-rolling-resistance tires, recycled material tires, and energy-efficient tires. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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