SHARE
Low Rolling Resistance Tire Market

Low Rolling Resistance Tire Market Forecasts to 2028 – Global Analysis By Type (Bias, Radial, Tube, Tubeless), Width Type (Dual Type, Wide Band Type), Product (Bike Tires, Car Tires) and By Geography

4.3 (34 reviews)
Published: August 2021 ID: SMRC20917
4.3 (34 reviews)
Published: August 2021 ID: SMRC20917

This report covers the impact of COVID-19 on this global market
Loading...

According to Stratistics MRC, the Global Low Rolling Resistance Tire Market is accounted for $8.94 billion in 2020 and is expected to reach $31.42 billion by 2028 growing at a CAGR of 17.0% during the forecast period. The rise in vehicle sales and safety installations per vehicle global, government regulations concerning tire labelling, growing demand for fuel-efficient tires, and progress in the aftermarket acts are driving the market growth. However, high cost related with the product is hampering the growth of the market

A low rolling resistance tire has denoted as a type of tire that is precisely prepared with a solid rubber compound and firm adjacent walls to decrease friction and flex. Several companies are constantly working on the expansion of advanced tire material combinations with new tire compounds, including silica and alternative oils based for reaching good rolling-resistance properties while upholding an enjoyable trip and improved grip.

Based on the vehicle type, the heavy commercial vehicles segment is going to have lucrative growth during the forecast period, as commercial vehicles pass over extended distances on a day-to-day basis, fuel and cost efficiency will keep on the most significant factors related to them, mainly HCVs, thus preferring acceptance of fuel effective automotive components such as low rolling resistance tires. Noticeably growing consumer change towards commercial vehicles for long-distance travel is projected to strengthen the sales volume of low rolling resistance tires shortly. Furthermore, since HCV tires incline to experience more wear and tear, interpreting into a higher replacement rate and sales of low rolling resistance tires are possible to continue higher in this segment.

By geography, North America is going to have high growth during the forecast period, due to the excessive obtainability of the commercial vehicles in the province together with the stringent government regulations concerning the safety norms are projected to fuel the growth of the complete market.

Some of the key players profiled in the Low Rolling Resistance Tire Market include Apollo Tyres Ltd., Bridgestone Corporation, Continental AG, Hankook Tire, Marangoni S.p.A, Maxxis International (Cheng Shin Rubber), MICHELIN, MRF Tyres, Pirelli & C S.p.A, Sumitomo Rubber Industries Ltd., The Goodyear Tire & Rubber Company, The Yokohama Rubber Co. Ltd, Trelleborg AB.

Report Coverage

Details

Published Year:

2021

Estimated Market Size in 2020:

USD 8.94 billion

Estimated Period:

2020

Compound Annual Growth Rate (CAGR) from 2020 to 2028:

17.0%

Predicted 2028 Value:

USD 31.42 billion

Forecast Years:

2021-2028

Tables, Graphs& Figures

144

Chapters Covered:

Type, Vehicle Type, Width Type, Product, Application, Sales Channel and Region

Core Drivers and Opportunities:

  • Rise in vehicle sales
  • Government regulations concerning tire labeling
  • Progress in the aftermarket
  • Rise in demand for low rolling resistance tires,

Restraining Factors&Market Threats:

  • High cost associated with the product


Types Covered:
• Bias
• Radial
• Tube
• Tubeless

Vehicle Types Covered:
• Heavy Commercial Vehicle
• Light Commercial Vehicle
• Passenger Vehicle
• Two-Wheeler   

Width Types Covered:
• Dual Type
• Wide Band Type  

Products Covered:
• Bike Tires
• Car Tires
• Truck Tires

Applications Covered:
• On-Road
• Off-Road

Sales Channels Covered:
• Original Equipment manufacturers (OEMs)
• Aftermarket

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Key Questions Answered In The Report

The Global Low Rolling Resistance Tire Market is majorly driven by the increase in the vehicle sales, government regulation regarding the tires to lower the carbon product and safety installations per vehicle global.

The wide band type segment is growing at a highest CAGR, owing to the distribution of vehicle load over a larger surface area, which decreases risks of tire damage from frictional heat.

Europe dominated with a significant market share due to the stringent regulation by government bodies concerning the vehicle emission.

Asia Pacific market is growing at a highest CAGR due to the growing development of the automotive industry in the province leads to the rise in commercial vehicles.

Key players in Low Rolling Resistance Tire Market include Apollo Tyres Ltd., Bridgestone Corporation, Continental AG, Hankook Tire, MarangoniS.p.A, Maxxis International (Cheng Shin Rubber), MICHELIN, MRF Tyres, Pirelli & C S.p.A, Sumitomo Rubber Industries Ltd., The Goodyear Tire & Rubber Company, The Yokohama Rubber Co. Ltd, Trelleborg AB.

Select License Type

Allows one person to have access to the ordered product.The ordered product cannot be distributed to anyone else.
Allows the ordered product to be shared among a maximum of 5 people within your organisation.
Allows the product to be shared among all employees of your organisation at one particular location.
Allows the product to be shared among all employees of your organisation regardless of their geographical location.

WHY CHOOSE US ?

Assured Quality

Assured Quality

Best in class reports with high standard of research integrity

24X7 Research Support

24X7 Research Support

Continuous support to ensure the best customer experience.

Free Customization

Free Customization

Adding more values to your product of interest.

Safe and Secure Access

Safe & Secure Access

Providing a secured environment for all online transactions.

Trusted by 600+ Brands

Trusted by 600+ Brands

Serving the most reputed brands across the world.

Testimonials