- Passenger Car
- Commercial Vehicle
- Others
Green Tires Market size was valued at USD 121.5 million in 2023 and is projected to grow at 12.3% CAGR over the forecast years to reach USD 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.
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.
Europe Got Significant Share
Green Tires Market Regional Analysis
Based on regions the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. Europe currently commands the largest share of the global green tires market and is expected to maintain its leadership throughout the forecast period. The region benefits from stringent regulations concerning vehicle emissions, coupled with a high awareness of the benefits associated with green tires. Additionally, Europe's robust automotive sector, bolstered by the presence of renowned global car manufacturers, continues to drive market growth. North America follows closely behind Europe, propelled by similarly stringent regulations that elevate the region's market position. Furthermore, Asia Pacific is expected to propel the market in countries such as China, Japan, and India in the coming years. The region provides a broader market space for the green tires business owing to the massive production capacity of polyester products, availability of raw materials, and a well-established distribution channel. According to the China Association of Automobile Manufacturers, the country is estimated to manufacture 30 million units of passenger cars in 2020 and rise to 35 million units by the end of 2025
Latin America
Europe
Asia Pacific
Middle East
North America
Green Tires Market Segmentation
By Vehicle Type
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
Geography
- 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
Frequently Asked Questions
The green tires market size is expected to reach USD 136.4 million in 2024 and grow at a CAGR of 12.3% to reach USD 273.7 million by 2030.
In 2023, the green tires market size was estimated at USD 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.
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.
| 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 |
- 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