Low Rolling Resistance Tire Market Size, Share, Trends, Growth Opportunities and Competitive Outlook
Low Rolling Resistance Tire Market Size, Share, Trends, Growth Opportunities and Competitive Outlook
Blog Article
Low Rolling Resistance Tire Market – Industry Trends and Forecast to 2030
Global Low rolling resistance tire Market, By Type (Bias, Radial, Tubeless, Tube, Others), Vehicle Type (Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle), Width Type (Dual Type, Wide Band Type), Sales Channel (OEM, Aftermarket), Application Type (On-Road, Off Road) – Industry Trends and Forecast to 2030.
Data Bridge Market Research analyses that the low rolling resistance tire market is expected to reach USD 46.03 billion by 2030, which is USD 17.94 billion in 2022, at a CAGR of 12.50% during the forecast period. Data Bridge Market Research analyses that the low rolling resistance tire market is expected to reach USD 46.03 billion by 2030, which is USD 17.94 billion in 2022, at a CAGR of 12.50% during the forecast period.
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The global low rolling resistance tire market is expected to witness significant growth in the coming years. The market growth can be attributed to the increasing focus on fuel efficiency and the growing demand for eco-friendly automotive solutions. Low rolling resistance tires are designed to reduce the energy loss as the tire rolls, leading to improved fuel efficiency and lower carbon emissions. Factors such as government regulations promoting the use of energy-efficient vehicles, rising environmental concerns, and technological advancements in tire manufacturing are driving the market for low rolling resistance tires.
**Segments**
- **By Vehicle Type**: Passenger Cars, Commercial Vehicles
- **By Sales Channel**: OEM, Aftermarket
- **By Region**: North America, Europe, Asia-Pacific, Latin America, Middle East and Africa
The low rolling resistance tire market can be segmented based on vehicle type, sales channel, and region. In terms of vehicle type, the market is divided into passenger cars and commercial vehicles. Passenger cars segment is expected to dominate the market due to the increasing production and sales of passenger vehicles globally. By sales channel, the market is bifurcated into OEM and aftermarket. The OEM segment is projected to hold a significant share as automakers are increasingly incorporating low rolling resistance tires in their new vehicles to meet regulatory standards and consumer demands. Geographically, North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa are the key regions driving the growth of the low rolling resistance tire market.
**Market Players**
- Bridgestone Corporation
- Michelin
- Continental AG
- Goodyear Tire and Rubber Company
- Pirelli & C. S.p.A
- Hankook Tire & Technology Group
- Sumitomo Rubber Industries, Ltd.
- Yokohama Rubber Co., Ltd.
- Toyo Tire Corporation
- Nokian Tyres plc
Key market players in the global low rolling resistance tire market include Bridgestone Corporation, Michelin, Continental AG, Goodyear Tire and Rubber Company, PirelliThe global low rolling resistance tire market is highly competitive, with key players constantly striving to innovate and offer advanced solutions to cater to the increasing demand for fuel-efficient and eco-friendly automotive products. Bridgestone Corporation, one of the leading market players, has been focusing on research and development to enhance the performance of low rolling resistance tires. The company's strong presence in key regional markets such as North America and Asia-Pacific has further strengthened its position in the market. Michelin, another prominent player, has been leveraging its strong brand image and technological expertise to develop high-quality low rolling resistance tires for both passenger cars and commercial vehicles.
Continental AG, a key player in the low rolling resistance tire market, has been focusing on strategic partnerships and collaborations to expand its market presence globally. The company's focus on sustainability and innovation has helped it gain a competitive edge in the market. Goodyear Tire and Rubber Company, known for its innovative tire solutions, has been introducing new technologies to improve the fuel efficiency and performance of low rolling resistance tires. Pirelli & C. S.p.A, with its strong product portfolio and focus on research and development, has been catering to the evolving needs of consumers looking for energy-efficient tire options.
Hankook Tire & Technology Group has been investing in manufacturing facilities and distribution networks to meet the growing demand for low rolling resistance tires in key markets such as Europe and Asia-Pacific. The company's commitment to sustainability and product quality has helped it gain a loyal customer base. Sumitomo Rubber Industries, Ltd. has been focusing on product differentiation and technological advancements to stay ahead of the competition in the low rolling resistance tire market. The company's emphasis on quality and performance has earned it a reputable position in the industry.
Yokohama Rubber Co., Ltd. has been expanding its product offerings in the low rolling resistance tire segment to cater to the diverse needs of consumers worldwide. The company's focus on technological innovation and sustainability has been driving its growth in the market. Toyo Tire**Segments**
- **By Type**: Bias, Radial, Tubeless, Tube, Others
- **Vehicle Type**: Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle
- **Width Type**: Dual Type, Wide Band Type
- **Sales Channel**: OEM, Aftermarket
- **Application Type**: On-Road, Off Road
The global low rolling resistance tire market is witnessing significant growth propelled by various factors including increasing awareness towards fuel efficiency, rising concerns for environmental sustainability, and advancements in tire manufacturing technologies. Low rolling resistance tires have garnered attention due to their ability to enhance fuel efficiency and reduce carbon emissions which align with the growing demand for eco-friendly automotive solutions. Government regulations across various regions promoting energy-efficient vehicles further boost the market for low rolling resistance tires. The market is segmented based on vehicle type, sales channel, and region, indicating opportunities in both passenger cars and commercial vehicles segments, with OEM holding a significant share due to automakers' integration of such tires in new vehicles. Geographically, North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa are key regions fostering the growth of the market.
The competitive landscape of the global low rolling resistance tire market is intense, with key players continuously innovating to meet the escalating demand for fuel-efficient and eco-friendly automotive products. Bridgestone Corporation, Michelin, Continental AG, Goodyear Tire and Rubber Company, Pirelli & C. S.p.A are some prominent market players leading the industry
Key Coverage in the Low Rolling Resistance Tire Market Report:
- Detailed analysis of Global Low Rolling Resistance Tire Market by a thorough assessment of the technology, product type, application, and other key segments of the report
- Qualitative and quantitative analysis of the market along with CAGR calculation for the forecast period
- Investigative study of the market dynamics including drivers, opportunities, restraints, and limitations that can influence the market growth
- Comprehensive analysis of the regions of the Low Rolling Resistance Tire industry and their futuristic growth outlook
- Competitive landscape benchmarking with key coverage of company profiles, product portfolio, and business expansion strategies
Table of Content:
Part 01: Executive Summary
Part 02: Scope of the Report
Part 03: Global Low Rolling Resistance Tire Market Landscape
Part 04: Global Low Rolling Resistance Tire Market Sizing
Part 05: Global Low Rolling Resistance Tire Market Segmentation by Product
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
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