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Automotive Green Tires Market to Grow by USD 167.5 Billion (2024-2028), Affordable Pricing and Low Maintenance Drive Growth, AI Impact on Market Trends – Technavio

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NEW YORK, Sept. 19, 2024 /PRNewswire/ — Report on how AI is redefining market landscape- The global automotive green tires market size is estimated to grow by USD 167.5 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 18.58% during the forecast period. High affordability and low maintenance cost is driving market growth, with a trend towards developments in the field of automotive green tires. However, high-cost pressures on tire vendors for competitive pricing poses a challenge. Key market players include Apollo Tyres Ltd., Balkrishna Industries Ltd., Bridgestone Corp., DOUBLE STAR TIRE, Emerald Resilient Tyre Manufacturers Pvt. Ltd., Giti Tire Pte. Ltd., GRI Tires, Hankook Tire and Technology Co. Ltd., Maxxis International, Michelin Group, NEXEN TIRE Corp., Nokian Tyres Plc., Pirelli and C S.p.A, RPG Enterprises, Sailun Group Co. Ltd., Schaeffler AG, The Goodyear Tire and Rubber Co., Triangle Tyres, Yokohama Tire Corp., and Zhongce Rubber Group Co. Ltd..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Automotive Green Tires Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 18.58%

Market growth 2024-2028

USD 167.5 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

14.37

Regional analysis

Europe, North America, APAC, South America, and Middle East and Africa

Performing market contribution

APAC at 36%

Key countries

US, Germany, China, Japan, and France

Key companies profiled

Apollo Tyres Ltd., Balkrishna Industries Ltd., Bridgestone Corp., DOUBLE STAR TIRE, Emerald Resilient Tyre Manufacturers Pvt. Ltd., Giti Tire Pte. Ltd., GRI Tires, Hankook Tire and Technology Co. Ltd., Maxxis International, Michelin Group, NEXEN TIRE Corp., Nokian Tyres Plc., Pirelli and C S.p.A, RPG Enterprises, Sailun Group Co. Ltd., Schaeffler AG, The Goodyear Tire and Rubber Co., Triangle Tyres, Yokohama Tire Corp., and Zhongce Rubber Group Co. Ltd.

Market Driver

The automotive industry is responding to growing environmental concerns by investing in the development of green tires. Strict emission standards are driving the creation of innovative tire designs using advanced, energy-efficient materials. Notable companies, such as Goodyear Tire and Rubber, are leading the way with concept designs like the Oxygene tire, which features a moss-filled structure for moisture absorption and improved wet traction. South Korean tire manufacturer KUMHO TIRE has introduced the Ecowing ES31, an environmentally-friendly car tire with minimal rolling resistance and superior wet performance. Yokohama Rubber has also unveiled the BluEarth 109L and BluEarth 109L trailer tires, offering ultra-wide bases and optimized tread patterns for enhanced fuel efficiency. These advancements will contribute to the expansion of the global automotive green tires market in the coming years. 

The Automotive Green Tires Market is on the rise as consumers and governments push for more environment-friendly solutions. Trends include lightweight ENLITEN technology, ElectricDrive GT, and SoundComfort Technology. Tesla Model vehicles and SUVs are leading the shift towards sustainable tire materials like silane from Evonik. The Star Labeling Program and Tire Energy Label focus on reducing carbon emissions from tires. Electric, hybrid, and CNG vehicles are driving demand for tires with low rolling resistance and CO2 emissions. OEMs like Goodyear, Continental, Pirelli, and others are innovating with airless tires and various tire sizes for passenger cars, LCVs, trucks, and buses. The logistics industry also benefits from green tires as they help reduce reliance on fossil fuels. The charging infrastructure for electric vehicles is a key factor influencing tire sales. Overall, the market for green tires is growing as more focus is placed on reducing carbon emissions and using sustainable raw materials. 

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Market Challenges

The global automotive industry is experiencing intense competition due to technological advancements and the integration of automotive electronics. This competition is also reflected in the automotive green tires market, where cost pressures are a major inhibitor. Vendors use synthetic amorphous silica (SAS) and precipitated silica in green tire manufacturing, with sulfur silanes as bonding chemicals. Advanced materials and processes increase production costs, but vendors face pressure to keep prices competitive. To remain competitive, some tire manufacturers are focusing on sustainable tire technologies, like renewable rubber, through collaborations with researchers and biotechnology companies. However, these developments may increase competition and cost pressures, potentially hindering market growth in the forecast period.The Automotive Green Tires Market is experiencing significant growth due to shifting consumer preferences towards electric vehicles (EVs) and reduced CO2 emissions. However, challenges persist in this sector. Rolling resistance and fuel consumption are key concerns for EVs, necessitating the development of low rolling resistance tires. CNG and hybrid vehicles also require specialized tires. Original Equipment Manufacturers (OEMs) and the logistics industry seek tires with improved fuel economy and CO2 emission reduction. Tire manufacturers like Goodyear, Continental, Pirelli, and others are responding with innovative solutions. Rim size and tire assembly for electric cars, light commercial vehicles (LCVs), trucks, and passenger cars are also critical factors. OEM sales channels and warranties are essential for tire manufacturers in this market. Key players include Cheng Shin Rubber, ZC Rubber, Rivian R1T, Ford F-150 Lightning, Cooper, Yokohama, Apollo Tyres, Sumitomo Rubber, and others. The use of materials like silica and electric powertrains in tire production is a focus area. The global sales of green tires in the electric car segment are projected to increase, with OEM sales being a significant channel. However, challenges remain in retrofitting existing vehicles and ensuring compatibility with various tire sizes and electric powertrains.

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Segment Overview 

This automotive green tires market report extensively covers market segmentation by

Application 1.1 Passenger vehicles1.2 Commercial vehiclesType 2.1 Radial tire2.2 Bias tireGeography 3.1 Europe3.2 North America3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Passenger vehicles- The automotive green tires market is primarily driven by the increasing demand for fuel-efficient and low-rolling resistance tires among passenger vehicle owners. This trend is further fueled by the growing sales volume of passenger vehicles in emerging economies such as China, Japan, South Korea, India, and Southeast Asian countries. Lower interest rates on vehicle loans worldwide have also encouraged more purchases of passenger vehicles. The passenger vehicle segment is anticipated to dominate the global automotive green tires market due to these factors. Additionally, consumer awareness of eco-friendly tires is increasing, leading to higher adoption rates. In APAC, China, Japan, South Korea, India, and Indonesia are major markets for passenger cars. Europe and North America lead in the adoption of advanced automotive technologies and systems in passenger vehicles. Leading tire manufacturers like Bridgestone and MICHELIN offer eco-friendly tires for passenger vehicles, such as Bridgestone’s Ecopia and MICHELIN’s Energy Saver, which provide superior fuel efficiency and long tread life. Other prominent vendors also offer green tires for various passenger vehicle segments, including small cars, hatchbacks, and sedans. Overall, the growing consumer awareness of eco-friendly tires is expected to continue driving the adoption rate of automotive green tires in the passenger vehicles segment.

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Research Analysis

The Automotive Green Tires Market is witnessing significant growth due to the increasing demand for eco-friendly tires for Electric Vehicles (EVs) and Hybrid Vehicles. These tires, with their low rolling resistance, contribute to total vehicle efficiency, enhancing the range of EVs and reducing fuel consumption in hybrid vehicles. The market is also driven by the logistics industry’s shift towards CNG and the need for fuel-efficient tires for heavy trucks. Silica, a key raw material, and silane from companies like Evonik, are essential in producing green tires with low rolling resistance and reduced carbon emissions. The Passenger Car Segment is a major consumer, with Original Equipment (OE) manufacturers prioritizing green tires for their electric car models. The market also includes the emerging trend of Airless Tires, which offer environmental benefits by eliminating the need for traditional rubber and reducing overall vehicle weight, leading to reduced carbon emissions and improved fuel efficiency. The Tire Energy Label is a crucial factor in consumer decision-making, with tires rated for low rolling resistance and fuel consumption gaining popularity. The market’s future growth is expected to be influenced by shifting consumer preferences towards sustainable and eco-friendly products, reducing reliance on fossil fuels, and minimizing carbon emissions.

Market Research Overview

The Automotive Green Tires Market is witnessing significant growth due to the increasing demand for eco-friendly tires for various vehicle types, including electric vehicles (EVs), hybrid vehicles, and CNG vehicles. Rolling resistance and CO2 emissions are critical factors driving the market’s growth, as low rolling resistance leads to improved total vehicle efficiency, longer range, and reduced fuel consumption. Tire manufacturers are focusing on developing tires using environment-friendly raw materials such as silica, Styrene-butadiene rubber, and silane. OEMs, including Passenger cars, LCVs, Trucks, and buses, are integrating green tires into their offerings, with some, like Rivian R1T and Ford F-150 Lightning, exclusively using green tires. The logistics industry is also adopting green tires to reduce carbon emissions. Tire assembly processes are being optimized to include electric powertrains and sustainable tire materials. The market’s key trends include the Tire Energy Label, shifting consumer preferences towards fuel economy and CO2 emission, and the emergence of airless tires. Key players in the market include Goodyear, Continental, Pirelli, Cheng Shin Rubber, ZC Rubber, Cooper, Yokohama, Apollo Tyres, Sumitomo Rubber, and others. The market’s global sales are expected to grow significantly in the coming years, driven by the increasing vehicle sales and the OEM sales channel’s dominance. Warranty and tire size are also essential considerations in the market. The market is also witnessing the adoption of sustainable tire materials, such as those derived from Evonik, and the development of technologies like Turanza Eco tires’ lightweight ENLITEN technology and ElectricDrive GT’s SoundComfort Technology. The market’s growth is further driven by the growing popularity of SUV culture and the need to reduce carbon emissions from fossil fuels. The market’s future looks promising, with the charging infrastructure’s development and the Star Labeling Program’s implementation expected to boost sales. Heavy vehicles, including trucks and buses, are also adopting green tires to reduce their carbon footprint.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationPassenger VehiclesCommercial VehiclesTypeRadial TireBias TireGeographyEuropeNorth AmericaAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Greenlane Renewables Announces Management and Board of Director Changes

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~Appointment of Stephanie Mason as CFO completes planned succession~

VANCOUVER, BC, Nov. 15, 2024 /CNW/ – Greenlane Renewables Inc. (“Greenlane”) (TSX: GRN) (FSE: 52G) today announces the appointment of Stephanie Mason as Chief Financial Officer (“CFO”), effective January 13, 2025.

Ms. Mason brings over 15 years of experience to her new role as Greenlane’s CFO. Ms. Mason has been with Greenlane for over 4 years, most recently as Director of Finance following a promotion from Corporate Controller. Prior to working at Greenlane, Ms. Mason gained experience at other TSX-listed renewable energy companies managing teams responsible for financial reporting, regulatory compliance and other finance activities. Ms. Mason developed her strong accounting foundation at PricewaterhouseCoopers where she obtained her CPA, CA designation.

“We are excited to welcome Stephanie into the role of CFO,” said Brad Douville, CEO of Greenlane Renewables. “Stephanie brings a depth of expertise in finance, reporting, and operations and provides continuity in leadership at Greenlane. Transitioning overall financial leadership from Monty Balderston to Stephanie starting at the beginning of 2025 completes a planned succession as we continue to advance our strategic goals in the RNG space. During his tenure as CFO over the last couple of years, Monty has provided solid leadership of the finance function at Greenlane and played a pivotal role on the senior management team. I want to thank Monty for all of his contributions.”

“I am honored to become Greenlane’s CFO. This is an organization recognized for its commitment to sustainability and innovation,” stated Ms. Mason. “I look forward to contributing to the company’s financial reporting strength and supporting its growth objectives.”

Mr. Balderston will remain as CFO until voluntarily resigning effective January 13, 2025. Mr. Balderston will support the transition to Ms. Mason upon her appointment, following which he will leave the Company on January 24, 2025.

Further to the management update announced on August 23, 2024, Ian Kane will be completing his transitional role as President and will leave the Company on November 22, 2024 when he will step down from Greenlane’s Board of Directors. The Company wishes to thank Mr. Kane for all of his efforts in helping drive Greenlane’s business plan.

About Greenlane Renewables

Greenlane is driving change: accelerating the energy transition to a net-zero emissions economy. We are cleaning up two of the largest and most difficult to decarbonize sectors of the global energy system: the natural gas grid and commercial transportation. As a pioneer and leading specialist in biogas upgrading, we have been actively contributing to the decarbonization of our planet for over 35 years. The systems we provide transform biogas generated from organic waste into high-value grid-ready renewable natural gas (“RNG”). Our systems produce clean, low-carbon and carbon-negative RNG from organic waste sources including agriculture (such as dairy and hog manure), water resource recovery facilities, food waste, landfills, and sugar mills. Greenlane is the only biogas upgrading company offering and actively deploying the three main upgrading technologies: waterwash, pressure swing adsorption, and membrane separation, plus proprietary biogas desulfurization technology. Greenlane has delivered over 145 biogas upgrading systems into 19 countries, including some of the largest RNG production facilities in the world, and over 160 biogas desulfurization units. For further information, please visit www.greenlanerenewables.com.

SOURCE Greenlane Renewables Inc.

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Eastside Distilling, Inc. Announces Private Placement Offering

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Eastside Distilling, Bridgetown Spirits Corp., a consumer-focused beverage company that builds craft inspired experiential brands and Beeline Financial Holdings, Inc. (“Beeline”), a digital mortgage technology and lending company, announces the completion of a private placement offering (the “Offering”) with accredited investors, resulting in gross proceeds of $1,615,000.

PORTLAND, Ore. and PROVIDENCE, R.I. , Nov. 15, 2024 /PRNewswire-PRWeb/ — Eastside Distilling, Inc. (NASDAQ: EAST) (“Eastside” or the “Company”), a holding company for Bridgetown Spirits Corp., a consumer-focused beverage company that builds craft inspired experiential brands and for Beeline Financial Holdings, Inc. (“Beeline”), a digital mortgage technology and lending company, announces the completion of a private placement offering (the “Offering”) with accredited investors, resulting in gross proceeds of $1,615,000. Under the terms of a Securities Purchase Agreement, the Company sold $1,938,000 in original issue discount Senior Secured Notes (the “Notes”) and Pre-Funded Warrants to purchase 363,602 shares of Common Stock (the “Warrants”).

Joseph Gunnar & Co., LLC acted as the exclusive placement agent in connection with the Offering.

For an overview of the terms of the securities and transactions involved in the Offering, and copies of the forms of transaction documents entered into in connection therewith, please refer to the Company’s Current Report on Form 8-K filed on November 15, 2024 with the Securities and Exchange Commission. The Company plans to utilize the net proceeds for working capital and general corporate expenses, among other uses.

About Eastside Distilling

Eastside Distilling, Inc. (Nasdaq: EAST) is a producer of award-winning craft spirits, including whiskey, vodka, and rum. Founded in Portland, Oregon, Eastside is committed to quality, innovation, and sustainability, delivering exceptional products that reflect the spirit of the Pacific Northwest.

About Beeline Financial Holdings, Inc.

The Company recently closed on a merger with Beeline Financial Holdings, Inc. Beeline is a technology-driven mortgage lender offering a fully digital, AI-enhanced, platform that simplifies and accelerates the home financing process for homeowners and property investors. Based in Providence, RI, Beeline is dedicated to transforming the mortgage industry through innovative technology and customer-centric solutions.

Media Contact

Nick Luzza, BEELINE MORTGAGE , LLC Refinance, 1 4014184461 4014184461, nick@makeabeeline.com, https://www.eastsidedistilling.com/ 

View original content:https://www.prweb.com/releases/eastside-distilling-inc-announces-private-placement-offering-302306634.html

SOURCE BEELINE MORTGAGE , LLC Refinance

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The game-changer: New partnership between real estate tech innovator and luxury brokerage investor just gave agents at select firms valuable advantages and ease

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DALLAS, Nov. 15, 2024 /PRNewswire/ — The parent company of Briggs Freeman Sotheby’s International Realty, the leading luxury brokerage in Dallas, Fort Worth and all of North Texas, announces its groundbreaking partnership with Rechat, real estate’s only AI-powered Experience Management Platform for agents.          

Peerage Realty Partners, the world’s largest strategic investor in Sotheby’s International Realty affiliates, and Dallas-based Rechat have just advanced the real estate industry in a significant leap, through state-of-the-art technology. With the partnership, Rechat is now offering its advanced suite of tools and services to all Peerage Realty Partners brokerages — 206 offices across the U.S. and Canada — equipping its advisors with valuable advancements in real estate technology.          

Rechat was built to solve a universal and persistent problem faced by agents: the need to toggle between disparate platforms to manage the various aspects of their business. Briggs Freeman Sotheby’s International Realty has been working with Rechat almost since its beginning, as a first client, test case and collaborator. Now, years of innovation later, Rechat includes a marketing center, people center and deals center, allowing advisors to work within one integrated ecosystem to streamline tasks, automate listing marketing, create high-quality collateral, track transactions and more.          

Says Rechat CEO Shayan Hamidi: “We are dedicated to equipping agents with all of the tools they need — in one single tab or one single app — to excel in today’s competitive market.”          

Peerage Realty Partners is a leading residential real estate services firm, serving luxury markets across North America. Its brokerage partners include top Sotheby’s International Realty affiliates and other renowned independent firms. It has more than 6,100 advisors across 206 offices in the U.S. and Canada, to whose brokerages it provides strategic input, technology, marketing, operational expertise and much more. Its primary goal is to continually enhance the client, advisor and brokerage experiences through every phase of a transaction and beyond. Peerage Realty is projected to transact about $34.8 billion in sales in 2024 through its partner firms. Peerage Realty Partners, based in Toronto, Canada, has the unique benefit of being a privately owned enterprise, committed to long-term partnerships and investments.  

Says Gavin Swartzman, CEO of Peerage Realty Partners: “We are delighted to partner with Rechat to enhance our technological capabilities and provide our advisors with industry-leading tools. This collaboration aligns seamlessly with our ongoing commitment to leveraging innovation to better serve our clients and propel growth across our network.”    

To learn more, visit briggsfreeman.com, rechat.com and peeragerealty.com.

Peerage Realty Partners — the parent company of Dallas-based Briggs Freeman Sotheby’s International Realty and the world’s largest strategic investor in Sotheby’s International Realty affiliates — and Dallas-based Rechat, the creator of real estate’s only AI-powered Experience Management Platform for agents, have just advanced the real estate industry via state-of-the-art technology. With the partnership, Rechat is now offering its advanced suite of tools and services to all Peerage Realty Partners brokerages — 206 offices across the U.S. and Canada — equipping its advisors with valuable advancements in real estate tech. Rechat has eliminated the need for agents to toggle between disparate platforms to manage the various aspects of their business. After years of collaboration with Briggs Freeman Sotheby’s International Realty, Rechat now includes a marketing center, people center and deals center, allowing advisors to streamline tasks, automate listing marketing, create collateral, track transactions and more.

View original content to download multimedia:https://www.prnewswire.com/news-releases/the-game-changer-new-partnership-between-real-estate-tech-innovator-and-luxury-brokerage-investor-just-gave-agents-at-select-firms-valuable-advantages-and-ease-302306550.html

SOURCE Briggs Freeman Sotheby’s International Realty

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