Global Low Rolling Resistance Tires Market, By Type (Bias, Radial, Tubeless, Tube and Others), Vehicle (Passenger Vehicle, Light Commercial Vehicle and Heavy Commercial Vehicle), Sales Channel (OEM and Aftermarket), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2027
Low rolling resistance tires market is estimated to reach at USD 182.9 billion by 2027 and growing at a growth rate of CAGR 11.7% in the forecast period of 2020 to 2027. Increased demand for fuel-efficient vehicles, increasing inclination towards environmental protection and conservation of natural resources, has increased the demand for next generation tires such as low rolling resistance tires.
Tire rolling resistance is the energy that a vehicle needs to keep the tire rolling. Tires are considered as an important factor to improve the vehicle efficiency and reduce overall fuel consumption.
Factors such as adoption of safety regulations by government agencies along with an increase in the vehicle sales and safety installations per vehicle are fuelling the demand for LRR (low rolling resistance) market globally. Tires are important component of automobile and are manufactured using raw materials such as nylon tire, natural rubber, carbon black and cord fabric. Low rolling resistance tires are green tires and use to enhance the vehicle performance, fuel efficiency, and safety besides helping to bring about a reduction in vehicular emissions. Demand for low rolling resistance tires is to save significant amount of fuel and more and more fleets every year are recognizing the benefits of low rolling resistance tires and these factors are driving the growth of the market and create growth opportunities for low rolling resistance tires market in the forecast period of 2020-2027. High cost of the product will act as a restrain, and further challenge the growth of low rolling resistance tires market in the forecast period mentioned above.
The low rolling resistance tires market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions and technological innovations in the market. To gain more info low rolling resistance tires market on Data Bridge Market contact us for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Low Rolling Resistance Tires Market Scope and Market Size
Low rolling resistance tires market is segmented on the basis of type, vehicle and sales channel. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of type, the low rolling resistance tires market is segmented into bias, radial, tubeless, tube and others.
- On the basis of vehicle, the low rolling resistance tires market is segmented into passenger vehicle, light commercial vehicle and heavy commercial vehicle.
- Based on sales channel, the low rolling resistance tires market is segmented into OEM and aftermarket.
Global Low Rolling Resistance Tires Market Country Level Analysis
Low rolling resistance tires market is analysed and market size, volume information is provided by country, type, vehicle and sales channel as referenced above.
The countries covered in the low rolling resistance tires market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific is dominating the low rolling resistance tires market due to the fastest developing region for low rolling resistance tire market and growing expansion of the automobile industry in the region.
The country section of the low rolling resistance tires market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Low Rolling Resistance Tires Market Share Analysis
Low rolling resistance tires market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to low rolling resistance tires market.
The major players covered in the low rolling resistance tires market report are Cooper Tire & Rubber Company, Hankook Tire & Technology Co.,Ltd., Pirelli & C. S.p.A, Bridgestone Corporation, Michelin, Goodyear Tire and Rubber Company, Sumitomo Rubber Industries, Ltd, Yokohama Rubber Co. Ltd, Cooper Tire & Rubber Company, Toyo Tire & Rubber Co. Ltd., ZHONGCE RUBBER Co.Ltd, Apollo Tyres Ltd, Carlisle Corp, KUMHO TIRE CO,INC, Nokian Tyres plc, Maxxis International, Sumitomo Rubber America, Inc, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Low Rolling Resistance Tires Market
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