Green Tires Market: By Vehicle Type, By Material Type, By Tire Size, By Sales Channel, and Geography

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Green Tires Market Size, Share, Growth, Trends, and Global Industry Analysis: By Vehicle Type (Passenger Car, Commercial Vehicle, and others), By Material Type (Silica-based Tires, Natural Rubber-based Tires, Synthetic Rubber-based Tires, and Bio-based Tires), By Tire Size (15-inch, 16-inch, 17-inch, and 18-inch), By Sales Channel (OEM and Aftermarket), and Region

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Green Tires Market size was valued at US$ 121.5 million in 2023 and is projected to grow at 12.3% CAGR over the forecast years to reach US$ 273.7 million by 2030.  The green tires market refers to a segment within the tire industry focused on producing environmentally friendly tires. These tires are designed to have reduced environmental impact compared to traditional tires throughout their lifecycle, from manufacturing to usage and disposal. Green tires are engineered to minimize rolling resistance, which improves fuel efficiency and reduces CO2 emissions from vehicles. Green tires aim to provide comparable or improved performance and durability compared to conventional tires, thereby reducing the frequency of replacements and waste.

The global green tire market is expected to experience rapid growth during the forecast period owing to the population shift towards sustainability and green technology. For instance, Evonik is a rubber company that solely manufactures silica and silanes for its customers. The company has been focusing on research to develop advanced eco-friendly tires and make them available to the world. Additionally, stringent government regulations and low rolling resistance of tires will drive the growth of the market. However, the Lack of awareness in developing economies is one of the major factors which restrain the growth of the global green tires market. 

Green Tires Market Recent Developments of the Market:
  • In June 2023, Michelin announced that it would invest US$ 27.8 Mn to expand car tire manufacturing capacity by 1.3 Mn tires at its production plant based in Shenyang, China.
  • In March 2020, Goodyear announced the first-ever self-regenerating concept of tires. The Goodyear ReCharge is the latest concept in the tire that uses a tread that can be supplemented with liquid-filled capsules. The tread rubber is made of multiple organic materials and strengthened with spider silk-based fibres.
  • In June 2020, Bridgestone launched its next-generation Firestone destination LE3 tires. These tires are engineered to improve the safety and optimize the performance of vehicles in the rain and snow. The specially designed tread pattern of tires cuts through the water to lower the risk of skidding. Moreover, the full-depth 3D spikes in the tread enhance the performance of vehicles in snowy conditions.

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Green Tires Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

12.3%

Largest Market

Asia Pacific

Fastest Growing Market

North America

Green Tires Market Dynamics

The primary catalyst for the growth of the green tire market is the increasing emphasis on environmental sustainability. Green tires contribute significantly to reducing energy loss due to friction between tires and the road surface, a phenomenon known as rolling resistance. In light of this, 7 to 10 percent of fuel consumption in light vehicles and everyday passenger cars is attributed to overcoming rolling resistance. This figure rises significantly in heavy trucks and commercial vehicles. Over time, the adoption of green tires proves economically viable due to the long-term savings on fuel costs. While the initial cost of green tires may be higher, these expenses are offset by reduced fuel consumption. According to industry studies, green tires can achieve up to 20% lower rolling resistance compared to conventional tires, resulting in substantial fuel savings over the lifespan of the tire. For instance, in heavy-duty applications, every 10% reduction in rolling resistance can lead to a fuel efficiency improvement of approximately 3%. Furthermore, the market for green tires is supported by regulatory measures aimed at reducing vehicle emissions and promoting sustainable practices. Governments and regulatory bodies worldwide are increasingly focusing on enforcing stricter emissions standards, which incentivizes manufacturers and consumers alike to opt for eco-friendly alternatives like green tires.

Green Tires Market Segmentation Analysis

Report Benchmarks

Details

Report Study Period

2024-2030

Market Size in 2023

US$ 121.5 million

Market Size in 2030

US$ 273.7 million

Market CAGR

12.3%

By Vehicle Type

  • Passenger Car
  • Commercial Vehicle
  • Others

By Material type

  • Silica-based Tires
  • Natural Rubber-based Tires
  • Synthetic Rubber-based Tires
  • Bio-based Tires

By Tire Size

  • 15-inch
  • 16-inch
  • 17-inch
  • 18-inch

By Sales Chanel

  • OEM
  • Aftermarket

By Region

  • North America
  • USA
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe
  • The Asia Pacific
  • China
  • India
  • Japan
  • ASEAN
  • Australia & New Zealand
  • Rest of Asia-Pacific
  • Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
  • MEA
  • Gulf Cooperation Council (GCC) Countries
  • Israel
  • South Africa
  • Rest of MEA

Key Features of the Report

  • The green tires market report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030).
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies.
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market.
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market.
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenarios.

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Frequently Asked Questions

The green tires market size is expected to reach US$ 136.4 million in 2024 and grow at a CAGR of 12.3% to reach US$ 273.7 million by 2030.

In 2023, the green tires market size was estimated at US$ 121.5 million. The report covers the green tires market's historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the green tires market size for the years: 2024, 2025, 2026, 2027, 2028, 2029, and 2030.

The leading players in the green tires market are Michelin, Bridgestone Corporation, Hankook Tire, Pirelli & C. S.p.A., Zhongce Rubber Group Co., Ltd (ZC-Rubber), Continental AG, Nokian Tyres plc, The Goodyear Tire & Rubber Company, Cheng Shin Rubber Ind. Co. Lt. (Cheng Shin Tire), and Kumho Tire.

“Europe” has the largest share of the green tires market.

The green tires market is primarily driven by increasing environmental regulations aimed at reducing vehicle emissions, rising awareness of sustainability benefits among consumers, and the significant fuel savings achieved through lower rolling resistance of green tires compared to conventional ones.

1.Executive Summary
2.Global Green Tires Market Introduction 
2.1.Global Green Tires Market  - Taxonomy
2.2.Global Green Tires Market  - Definitions
2.2.1.Vehicle Type
2.2.2.Material type
2.2.3.Tire Size
2.2.4. Sales Chanel
2.2.5.Region
3.Global Green Tires Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Product Landscape
3.6. New Product Launches
3.7. Impact of COVID 19 on Market
4.Global Green Tires Market Analysis, 2019 - 2023 and Forecast 2024 - 2030
4.1.  Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
4.2.  Year-Over-Year (Y-o-Y) Growth Analysis (%) 
4.3.  Market Opportunity Analysis 
5.Global Green Tires Market  By Vehicle Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
5.1. Passenger Car
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.1.3. Market Opportunity Analysis 
5.2. Commercial Vehicle
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.2.3. Market Opportunity Analysis 
5.3. Others
5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.3.3. Market Opportunity Analysis 
6.Global Green Tires Market  By Material type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
6.1. Silica-based Tires
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.1.3. Market Opportunity Analysis 
6.2. Natural Rubber-based Tires
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.2.3. Market Opportunity Analysis 
6.3. Synthetic Rubber-based Tires
6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.3.3. Market Opportunity Analysis 
6.4. Bio-based Tires
6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.4.3. Market Opportunity Analysis 
7.Global Green Tires Market  By Tire Size, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
7.1. 15-inch
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.1.3. Market Opportunity Analysis 
7.2. 16-inch
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.2.3. Market Opportunity Analysis 
7.3. 17-inch
7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.3.3. Market Opportunity Analysis 
7.4. 18-inch
7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.4.3. Market Opportunity Analysis 
8.Global Green Tires Market  By  Sales Chanel, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
8.1. OEM
8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.1.3. Market Opportunity Analysis 
8.2. Aftermarket
8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.2.3. Market Opportunity Analysis 
9.Global Green Tires Market  By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
9.1. North America
9.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.1.3. Market Opportunity Analysis 
9.2. Europe
9.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.2.3. Market Opportunity Analysis 
9.3. Asia Pacific (APAC)
9.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.3.3. Market Opportunity Analysis 
9.4. Middle East and Africa (MEA)
9.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.4.3. Market Opportunity Analysis 
9.5. Latin America
9.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.5.3. Market Opportunity Analysis 
10.North America Green Tires Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
10.1. Vehicle Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.1.1.Passenger Car
10.1.2.Commercial Vehicle
10.1.3.Others
10.2.  Material type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.2.1.Silica-based Tires
10.2.2.Natural Rubber-based Tires
10.2.3.Synthetic Rubber-based Tires
10.2.4.Bio-based Tires
10.3.  Tire Size Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.3.1.15-inch
10.3.2.16-inch
10.3.3.17-inch
10.3.4.18-inch
10.4.   Sales Chanel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.4.1.OEM
10.4.2.Aftermarket
10.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.5.1.United States of America (USA)
10.5.2.Canada
11.Europe Green Tires Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
11.1. Vehicle Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.1.1.Passenger Car
11.1.2.Commercial Vehicle
11.1.3.Others
11.2.  Material type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.2.1.Silica-based Tires
11.2.2.Natural Rubber-based Tires
11.2.3.Synthetic Rubber-based Tires
11.2.4.Bio-based Tires
11.3.  Tire Size Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.3.1.15-inch
11.3.2.16-inch
11.3.3.17-inch
11.3.4.18-inch
11.4.   Sales Chanel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.4.1.OEM
11.4.2.Aftermarket
11.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.5.1.Germany
11.5.2.France
11.5.3.Italy
11.5.4.United Kingdom (UK)
11.5.5.Spain
12.Asia Pacific (APAC) Green Tires Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
12.1. Vehicle Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.1.1.Passenger Car
12.1.2.Commercial Vehicle
12.1.3.Others
12.2.  Material type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.2.1.Silica-based Tires
12.2.2.Natural Rubber-based Tires
12.2.3.Synthetic Rubber-based Tires
12.2.4.Bio-based Tires
12.3.  Tire Size Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.3.1.15-inch
12.3.2.16-inch
12.3.3.17-inch
12.3.4.18-inch
12.4.   Sales Chanel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.4.1.OEM
12.4.2.Aftermarket
12.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.5.1.China
12.5.2.India
12.5.3.Australia and New Zealand (ANZ)
12.5.4.Japan
12.5.5.Rest of APAC
13.Middle East and Africa (MEA) Green Tires Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
13.1. Vehicle Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.1.1.Passenger Car
13.1.2.Commercial Vehicle
13.1.3.Others
13.2.  Material type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.2.1.Silica-based Tires
13.2.2.Natural Rubber-based Tires
13.2.3.Synthetic Rubber-based Tires
13.2.4.Bio-based Tires
13.3.  Tire Size Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.3.1.15-inch
13.3.2.16-inch
13.3.3.17-inch
13.3.4.18-inch
13.4.   Sales Chanel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.4.1.OEM
13.4.2.Aftermarket
13.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.5.1.GCC Countries
13.5.2.South Africa
13.5.3.Rest of MEA
14.Latin America Green Tires Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
14.1. Vehicle Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.1.1.Passenger Car
14.1.2.Commercial Vehicle
14.1.3.Others
14.2.  Material type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.2.1.Silica-based Tires
14.2.2.Natural Rubber-based Tires
14.2.3.Synthetic Rubber-based Tires
14.2.4.Bio-based Tires
14.3.  Tire Size Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.3.1.15-inch
14.3.2.16-inch
14.3.3.17-inch
14.3.4.18-inch
14.4.   Sales Chanel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.4.1.OEM
14.4.2.Aftermarket
14.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.5.1.Brazil
14.5.2.Mexico
14.5.3.Rest of LA
15. Competition Landscape
15.1.  Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) 
15.2.1.Michelin, Bridgestone Corporation
15.2.2.Hankook Tire
15.2.3.Pirelli & C. S.p.A.
15.2.4.Zhongce Rubber Group Co., Ltd (ZC-Rubber)
15.2.5.Continental AG
15.2.6.Nokian Tyres plc 
15.2.7.The Goodyear Tire & Rubber Company
15.2.8.Cheng Shin Rubber Ind. Co. Lt. (Cheng Shin Tire)
15.2.9.Kumho Tire
16. Research Methodology 
17. Appendix and Abbreviations 

Key Market Players

  • Michelin, Bridgestone Corporation
  • Hankook Tire
  • Pirelli & C. S.p.A.
  • Zhongce Rubber Group Co., Ltd (ZC-Rubber)
  • Continental AG
  • Nokian Tyres plc 
  • The Goodyear Tire & Rubber Company
  • Cheng Shin Rubber Ind. Co. Lt. (Cheng Shin Tire)
  • Kumho Tire

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