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The European Green Tire Market is Projected to Grow at a CAGR of Over 14% During the Forecast Period, 2019-2024 - ResearchAndMarkets.com

January 31, 2020 GMT

DUBLIN--(BUSINESS WIRE)--Jan 31, 2020--

The “Europe Green Tire Market, By Vehicle Type (Passenger Car, LCV & HCV), By Product Type (Radial & Bias), By End User (Aftermarket & OEM), By Rim Size (12-15 Inch, 16-20 Inch & Above 20 Inch), By Country, Competition, Forecast & Opportunities, 2024” report has been added to ResearchAndMarkets.com’s offering.

The European Green Tire Market is projected to grow at a CAGR of over 14% during 2019 - 2024, on account of increasing vehicle sales and fleet size as well as government regulations on tire energy labelling.

Green tires are manufactured from renewable materials such as nylon rubber unlike conventional tires that are made of rubber. Several tire manufacturers have started adopting environment friendly raw materials that help make tires lighter, thereby reducing vehicle weight. Low weight of the vehicle provides high efficiency with low rolling resistance and less fuel consumption. Moreover, government regulations pertaining to the environmental performance of tire industry and surging consumer awareness is expected to positively influence the market during forecast period.

The European Green Tire Market can be segmented based on vehicle type, product type, end-user and rim size. Based on vehicle type, the region’s green tire market can be segmented into passenger car, LCV and HCV. Passenger cars lead automobile production in Europe and the segment is expected to grow at a brisk rate during the forecast period. Moreover, automakers are focusing on enhancing the fuel efficiency of vehicles, which is resulting in high demand for fuel-efficient tires, thereby driving the green tire market in Europe. Based on product type, the market can be bifurcated into radial and bias. Consumers prefer radial tires due to their advantages, such as flexible sidewalls and reduced fuel consumption due to less vibration and resistance over their counterparts.

The Green tire market in Europe is registering growth, on account of rising vehicle production and sales as well as increasing government regulations on tire energy labelling that is increasing the installation rate of green tires. In terms of regional analysis, the market has been segmented into Germany, France, Spain, Italy, and UK. Germany accounts for the largest share in the region’s green tire market, primarily due to large existing fleet of passenger cars in the country. Being one of the major exporting hubs for automobile producers, Germany’s automotive industry is known worldwide for its high-quality automobile manufacturing. Moreover, the country is the fourth largest in terms of total vehicle production, globally, after China, US and Japan. High vehicle ownership coupled with moderate growth in new vehicle sales is expected to continue boosting green tire sales in Germany in the coming years.

Years considered for this report:

Objective of the Study:

Key Topics Covered:

1. Product Overview

2. Research Methodology

3. Analyst View

4. Voice of Customer

4.1. Factors Influencing Purchase Decision

4.2. Brand Recall

4.3. Brand Satisfaction Level

5. Europe Green Tire Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value & Volume

5.2. Market Share & Forecast

5.3. Market Attractiveness Index - By Vehicle Type

6. Europe: Country Analysis

6.1. Germany Green Tire Market Outlook

6.2. France Green Tire Market Outlook

6.3. United Kingdom Green Tire Market Outlook

6.4. Italy Green Tire Market Outlook

6.5. Spain Green Tire Market Outlook

7. Market Trends & Developments

8. Market Dynamics

8.1. Competitive Landscape

8.2. Compagnie Gnrale des tablissements Michelin

8.3. Bridgestone Europe NV/SA

8.4. Continental Aktiengesellschaft

8.5. Goodyear Dunlop Tires Europe B.V.

8.6. Pirelli & C. S.p.A.

8.7. Nokian Tyres PLC

8.8. Hankook Reifen Deutschland GmbH

8.9. Yokohama Europe Gmbh

8.10. Apollo Vredestein B.V.

8.11. Cooper Tire & Rubber Company Europe Limited

8.12. Strategic Recommendations

For more information about this report visit https://www.researchandmarkets.com/r/85ota0

View source version on businesswire.com:https://www.businesswire.com/news/home/20200131005379/en/

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SOURCE: Research and Markets

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PUB: 01/31/2020 10:21 AM/DISC: 01/31/2020 10:21 AM