Low Rolling Resistance Tires Market Research & Latest Technology by 2025
Global Low Rolling Resistance Tires Market, By Type (Radial, bias, tube, tubeless, others), By application (Polymers, Fillers, Softeners, Curatives and Others), By End User Applications, By Geography (North America, Europe, Asia-Pacific, Middle East & Africa, South America) – Industry Trends and Forecast to 2025
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Market Analysis:
Global Low Rolling Resistance Tires Market was valued at USD 60.5 Billion in 2017 and growing at a CAGR of 12.3% in the forecast period of 2018 and 2025. The upcoming market report contains data for historic years 2015 & 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Major Market Competitors/Players:
- Yokohama
- Cooper Tire
- Sumitomo
- Continental
- Hankook
- Pirelli
- Bridgestone
- Michelin
- Goodyear
- Bridgestone Corporation
- Continental AG
- The Goodyear Tire & Rubber Company
- Michelin
- Pirelli & C. S.P.A
- Sumitomo Rubber Industries, Ltd
- Hankook Tire
- Yokohama Rubber Co. Ltd
- Cooper Tire & Rubber Company
- Toyo Tire & Rubber Co. Ltd. among others.
Report Definition:
Tires are considered as an important factor to improve the vehicle efficiency and reduce overall fuel consumption. Low rolling resistance reduces the energy loss as a tire rolls, and thus help in decreasing the required rolling effort and improves the vehicle fuel efficiency. Factors such as adoption of safety regulations by government agencies along with an increase in vehicle sales and safety installations per vehicle are fueling the demand for LRR market globally. Tires are an integral component of automobiles and are manufactured using raw materials such as natural rubber, nylon tire cord fabric, and carbon black. Rubber chemicals and synthetic rubber, including styrene-butadiene rubber and poly-butadiene rubber, are used in manufacturing tires. Low rolling resistance tires are essentially green tires and their use enhances fuel efficiency, vehicle performance, and safety, besides helping to bring about a reduction in vehicular emissions. Major automotive companies are now introducing new vehicles with LRR tires and that more than 50% of new vehicles will have LRR tires by the end of 2020. For instance, in 2015, Nissan Motor Company Ltd had introduced its Nissan Murano crossover with LRR tires, and was one of the key features to its marketing strategy.
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Major Market Drivers and Restraints:
- The demand for LRR tires, is to save significant amount of fuel
- More and more fleets every year are recognizing the benefits of LRR tires
- Represent a good investment for dealing with fuel economy
- Increasing adoption of LRR tires by commercial vehicles such as on highway truck
Market Segmentation:
The global low rolling resistance tire market is segmented based on type, application, end user application and geography.
Based on type, the market is classified radial, bias, tube, tubeless and others.
Based on application, the market is classified polymers, fillers, softeners, curatives and other low rolling resistance tire.
On the basis of end user applications the market is classified industries, motor vehicles and others.
Based on geography the global low rolling resistance tire market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others.
Competitive Analysis:
The global low rolling resistance tire market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of low rolling resistance tire market for global, Europe, North America, Asia Pacific and South America.
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Research Methodology:
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
Demand Side Primary Contributors: Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
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