According to a recent market report published by the Market Research Future on Low Rolling Resistance Tire Market, the Global Low Rolling Resistance Tire Market to grow rapidly across the world at 15.85% CAGR and accounted to hit USD 16.8 Billion market value by 2025. Low Rolling Resistance Tire Industry Report provides comprehensive information on Global Low Rolling Resistance Tire Market key players, share, Sales, revenue, industry size in terms of volume. Low Rolling Resistance Tire Global Market is segmented by Application (On-road and Off-road), Vehicle Type (Two-Wheeler, Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle and others), sales channel (OEM and Aftermarket) and Region. Report provides Low Rolling Resistance Tire Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Key Companies Covered:
Yokohama Rubber Co. Ltd. (Japan), Apollo Tyres Ltd. (India), Cheng Shin Rubber Industry Co. (China), Kumho Tire (South Korea), Zhongce Rubber Group Co., Ltd (ZC-Rubber) (Germany), Nokian Tyres plc (Finland), MRF Tyres (India), Bridgestone Corporation (Japan), The Goodyear Tire & Rubber Company (US), Sumitomo Rubber Industries, Ltd. (Japan), Pirelli & C. S.p.A. (Italy), Hankook Tire (South Korea), Michelin (France), Continental AG (Germany), Firestone Tire and Rubber Company (US), Cooper Tire & Rubber Company (US), and Toyo Tire & Rubber Company (Japan).
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Global Low Rolling Resistance Tire Industry Overview:
Low rolling resistance tires are made with a hard rubber compound and stiff sidewalls to reduce friction and flex. Some tire companies are working on developing the advanced tire material combinations with new tire compounds, such as those based on silica and alternative oils to achieve good rolling-resistance properties while maintaining a pleasant ride and better grip.
Such tires are designed to have low tire rolling resistance with the help of improved tire thread design without affecting skid and tread abrasion resistance, traction and other aspects of tire performance that are vital to the operating smoothness, as well as they are designed to reduce the noise generated by the tire and ultimately improve the vehicle fuel efficiency.
The Global Low Rolling Resistance Tire Market is expected to witness ~15.85% CAGR during the forecast period, 2019–2025 and the market size is expected to reach USD 16.8 Billion by 2025.
The global market for low rolling resistance tire is growing rapidly due to environmental awareness, government regulations regarding tire labeling, increasing demand for fuel-efficient tires, and growth in the aftermarket. However, the growth of the market may be hindered by the high prices of low rolling resistance tires.
In 2010, Japan began implementing a voluntary tire labeling system for passenger cars. Similarly, the South Korean government initiated a voluntary tire-labeling program for passenger cars in November 2011, which was then made compulsory in November 2012. Furthermore, in November 2016, South Korea started implementing mandatory tire labeling regulations such government regulations regarding tire labelling is expected to further boost the growth of the low rolling resistance tire market.
Market Segmentation:
The global low rolling resistance tires market is segmented based on application, vehicle type, sales channel and region.
Based on application, the global market has been segmented into on-road and off-road.
Based on vehicle type, the global market has been segmented into two-wheeler, passenger car, light commercial vehicle, heavy commercial vehicle, and others.
Based on sales channel, the global market has been segmented into OEM and aftermarket.
Regional Analysis:
Geographically, the global low rolling resistance tire market has been segmented into four major regions, which are North America, Europe, Asia-Pacific, and the Rest of the world.
The low rolling resistance tire market in Asia-Pacific is expected to grow at the highest CAGR in the global market during the forecast period. The high growth of the automobile manufacturing industry in countries such as China, India, and Indonesia. China is the leading country in terms of sales of electric vehicles. The Chinese government has introduced the “Automobile Mid and Long-Term Development Plan” combined with the presence of BAIC, BYD, and JAC, is expected to play an important role in the sale of electric vehicles and hybrid vehicles.
Table Of Contents:
1. Executive Summary
2. Scope Of The Report
2.1. Market Definition
2.2. Scope Of The Study
2.2.1. Definition
2.2.2. Research Objective
2.2.3. Assumptions
2.2.4. Limitations
2.3. Research Process
2.3.1. Primary Research
2.3.2. Secondary Research
2.4. Market Size Estimation
2.5. Forecast Model
3. Market Landscape
3.1. Porter’s Five Forces Analysis
3.1.1. Threat Of New Entrants
3.1.2. Bargaining Power Of Buyers
3.1.3. Threat Of Substitutes
3.1.4. Rivalry
3.1.5. Bargaining Power Of Buyers
3.2. Value Chain/Supply Chain Analysis
4. Market Dynamics
4.1. Introduction
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Technology Trends
5. Global Low Rolling Resistance Tire Market, By Application
5.1. Introduction
5.2. On-Road
5.2.1. Market Estimates & Forecast, 2019–2025
5.2.2. Market Estimates & Forecast, By Region, 2019–2025
5.3. Off-Road
5.3.1. Market Estimates & Forecast, 2019–2025
5.3.2. Market Estimates & Forecast, By Region, 2019–2025
6. Global Low Rolling Resistance Tire Market, By Vehicle Type
6.1. Introduction
6.2. Two-Wheeler
6.2.1. Market Estimates & Forecast, 2019–2025
6.2.2. Market Estimates & Forecast, By Region, 2019–2025
6.3. Passenger Car
6.3.1. Market Estimates & Forecast, 2019–2025
6.3.2. Market Estimates & Forecast, By Region, 2019–2025
6.4. Light Commercial Vehicle
6.4.1. Market Estimates & Forecast, 2019–2025
6.4.2. Market Estimates & Forecast, By Region, 2019–2025
6.5. Heavy Commercial Vehicle
6.5.1. Market Estimates & Forecast, 2019–2025
6.5.2. Market Estimates & Forecast, By Region, 2019–2025
6.6. Others
6.6.1. Market Estimates & Forecast, 2019–2025
6.6.2. Market Estimates & Forecast, By Region, 2019–2025
7. Global Low Rolling Resistance Tire Market, By Sales Channel
7.1. Introduction
7.2. OEM
7.2.1. Market Estimates & Forecast, 2019–2025
7.2.2. Market Estimates & Forecast, By Region, 2019–2025
7.3. Aftermarket
7.3.1. Market Estimates & Forecast, 2019–2025
7.3.2. Market Estimates & Forecast, By Region, 2019–2025
8. Global Low Rolling Resistance Tire Market, By Region
Continued…
LIST OF TABLES:
Table 1 Global Low Rolling Resistance Tire Market, By Region, 2017–2025
Table 2 North America: Low Rolling Resistance Tire Market, By Country, 2017–2025
Table 3 Europe: Low Rolling Resistance Tire Market, By Country, 2017–2025
Table 4 Asia-Pacific: Low Rolling Resistance Tire Market, By Country, 2017–2025
Table 5 RoW: Low Rolling Resistance Tire Market, By Region, 2017–2025
Table 6 Global Low Rolling Resistance Tire Market, By Application, By Region, 2017–2025
Table 7 North America: Low Rolling Resistance Tire Market, By Application, By Country, 2017–2025
Continued…
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