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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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Neusoft Education officially renamed as ” Neutech Group Limited “, accelerating the advancement of the “education-healthcare-wellness and mind tour” strategy in a new stage

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HONG KONG, Jan. 11, 2025 /PRNewswire/ — On 9 January, Neusoft Education (09616.HK) announced that the Company’s English name will change from “Neusoft Education Technology Co. Limited” to “Neutech Group Limited”. The name change will take effect on the same day.

According to the announcement, the Company’s renaming to “Neutech Group Limited” better reflects its strategic transformation and upgrade, and more accurately demonstrates its five-in-one industry layout of “education-healthcare-wellness and mind tour”. This will establish a new corporate brand image and highlight the Company’s comprehensive strength in technological innovation and integrated development. Starting with the name change, the Company will focus on education and adapt to the aging economy, promoting the parallel development of academic education, continuing education, senior education, and resource output. This will create a business model of “education-assisted healthcare, education-assisted wellness, medical-care conversion, medical-education assistance, care-supported medicine, and care-education assistance”. Driven by technology and platform research and development, the company will achieve integrated development of education, medicine, care, health, and tourism, as well as efficient use of human, financial, and material resources. This will build a harmonious and inclusive “education + technology + medical care + health + tourism” prosperous ecosystem. It is expected to further enhance the Company’s brand reputation and industry influence, and support its sustainable development.

Neutech Group, as a pioneer in the “education-healthcare-wellness and mind tour” ecosystem in China, successfully listed on the Main Board of the Hong Kong Stock Exchange on 29 September 2020, becoming the “first stock of IT higher education” (stock code: 9616.HK). With the broad market opportunities brought by the aging population and the positive support of policies for the development of the elderly care industry, the Company leverages its innovative research and development capabilities in “education + technology + medical care” to build a new ecosystem of integrated development of ” education-healthcare-wellness and mind tour”.

In the education technology business sector, the Company will retain the main body of ” Neusoft Education Group” and continue to operate academic education, continuing education, and resource output businesses. Based on IT innovation education, the Company will further develop the “digital media” and “medical care” fields, build an integrated ecosystem of “education-healthcare-wellness”, and consolidate the core competitiveness of education technology in the future. The Company will also establish a characteristic product and service system based on the 4S model, providing first-class platforms, resources, models, and management services to governments, universities, hospitals, and health care institutions, continuously empowering partners’ reform and development.

In the elderly education and elderly care technology business sector, following the concept of “Elderly care starts with prevention, education drives elderly care, and technology empowers elderly care”, the Company has deeply developed elderly education through Neuedu Phoenix Academy and created a unique “LIFECARES” model of integrated elderly education with “leisure, care, medical services, education, and integration”. Using top-notch medical and care services and platform services to empower the elderly to live a happy life, the Company is building a dream university for active seniors. In addition, the Company will strengthen the training of elderly care service personnel by creating a one-stop industry chain of “university training + training + intern + human resource services”. On the other hand, the Company will build a medical and care technology operation service model, create an elderly care solution industrial ecosystem through the output of overall smart elderly care solutions and elderly care technology products and services, and achieve mutually beneficial cooperation with ecological partners.

In the medical and health care service sector, the Company integrates customer management service systems to provide intelligent medical and elderly care information solutions, and create a “medical care and elderly care” integrated development system with treatment-based medical institutions, rehabilitation-based nursing institutions, and care-based elderly care institutions. Its subsidiaries, Ruikang Cardiovascular Hospital, Dalian Ruikang Zhuomei Stomatology Hospital Co., Ltd., and Wecare Family Nursing Home, have been put into operation.

In the wellness tourism sector, targeting energetic seniors, the Company integrates tourism, education, and elderly care into one, with a focus on “leisure learning, slow travel, and peaceful living”. Through the concept of “study-travel-care”, seniors can experience a variety of dimensions of “learning-travel-care” in their travel and learning process, creating a comprehensive elderly education model that provides opportunities for art experiences, promotes physical and mental relaxation, enhances cultural literacy, and expands social interaction.

In addition, the Company expands its industrial management and service sector, with the vision of building a better life and using technology to empower intelligent logistics. It explores diverse, characteristic, and value-added service models to meet the diverse needs of internal and external customers, continuously expanding its brand reputation and social influence.

With its keen market insight and deep accumulation of industry and education resources, Neutech Group Limited actively embraces the development of the silver-haired economy, timely enters new tracks, and improves its position in the industrial ecosystem. Now, the Group’s new layout of “education-healthcare-wellness and mind tour ” has been formed, which not only helps to create a new growth curve but also continuously expands new development margins, moving towards becoming a leader in the development of the “education-healthcare-wellness and mind tour” ecosystem.

CONTACT: Lin Wei, weilin@neuedu.com

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SOURCE Neutech Group Limited

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RoboSense and Coco Robotics Forge Strategic Partnership to Revolutionize Autonomous Last-Mile Delivery

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LAS VEGAS, Jan. 12, 2025 /PRNewswire/ — RoboSense (2498.HK), a global leader in AI-driven robotics technology, and Coco Robotics, an innovator in delivery robots, have announced a strategic partnership to transform last-mile logistics. By combining RoboSense’s advanced sensor technology with Coco Robotics’s delivery solutions, the collaboration aims to enhance safety, efficiency, and sustainability in urban networks.

Coco Robotics bridges the gap between local businesses and customers through advanced navigation and real-time tracking, prioritizing sustainability by reducing carbon emissions and delivery costs. Since its launch in 2020, the company has expanded operations to major U.S. and European cities, forming partnerships with food delivery leaders like Uber Eats and DoorDash to meet the growing demands of modern logistics and support a greener future.

This partnership addresses key challenges in autonomous last-mile delivery by integrating RoboSense’s perception solutions into Coco Robotics’s fleet to enhance navigation and obstacle detection. Together, the companies are accelerating the deployment of delivery robots to optimize efficiency and scale operations.

“We’re thrilled to collaborate with RoboSense to push the boundaries of what’s possible in last-mile delivery,” said Zach Rash, Co-founder and CEO of Coco Robotics. “This partnership strengthens our ability to provide safe, reliable, and sustainable delivery solutions at scale, helping us better serve businesses and communities.”

Mark Qiu, CEO of RoboSense, said, “The successful collaboration with Coco Robotics is one of the key milestones in RoboSense’s global strategy. By combining our visual sensor technology with Coco Robotics’ innovative robotics solutions, we aim to redefine what’s possible in autonomous last-mile delivery. RoboSense will continue to innovate, providing superior incremental components and solutions to our global robotics customers. Partnering with Coco Robotics, we will create safer, smarter robotic delivery services and expand into global markets.”  

About RoboSense

RoboSense (2498.HK), founded in 2014, is an AI-driven robotics technology company that supplies industry-leading incremental components and solutions for the robotics market. The company is committed to “Become the global leader in robotics technology platforms”, and its mission is “Safer world, Smarter life”. For more information about RoboSense, visit https://www.robosense.ai 

About Coco Robotics

Coco Robotics is the world’s largest urban robot delivery platform. Founded in 2020, Coco has completed over 500,000 zero-emission deliveries, serving customers in the US and Europe. Coco’s mission is to create a more sustainable, reliable, and affordable last-mile logistics solution in cities around the world. For more information about Coco, visit cocodelivery.com  

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SOURCE RoboSense Technology Co., Ltd.

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AI Wellness Launches SoCal Fire Relief Initiative to Support Families and First Responders in Southern California

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LOS ANGELES, Jan. 11, 2025 /PRNewswire/ — Demonstrating a commitment to both innovation and compassion, AI Wellness has officially launched the SoCal Fire Relief Initiative to provide aid to families and first responders affected by the devastating fires in Southern California. Unveiled during CES 2025, this initiative aims to deliver critical resources and long-term recovery solutions to the communities hardest hit by this tragedy.

 

Southern California is more than just where we operate—it’s our home,” said Dr. Gideon Kwok, Co-Founder of AI Wellness. “The fires have left countless families without homes, belongings, and hope. This initiative is our way of giving back and rebuilding the lives of our neighbors and the first responders who have worked tirelessly to protect them.”

Let’s Take Action Together

The SoCal Fire Relief Initiative brings together individuals, brands, and organizations to address the urgent and long-term needs of affected communities. In partnership with the Mission Community Hospital Foundation and the Santo Niño Health Center, AI Wellness is leading efforts to:

Provide essential supplies such as food, water, clothing, and medical care to displaced families.Deliver hydration and wellness resources to first responders working on the frontlines.Support long-term community recovery through wellness programs and innovative solutions.

“It is during a crisis that the best of humanity comes out,” said Bernard Hiller. “It’s important for those affected to know they are not alone. This is a huge undertaking that we cannot do without you. These are our friends, neighbors, and family. Please help us.”

How You Can Help

The initiative provides several ways to make a difference:

Donate to Relief Efforts:
Contributions directly fund essential resources for families and first responders.Send Water to Evacuation Centers:
Every purchase of AI Wellness Water helps ensure first responders and displaced families stay hydrated, while also funding continued production and donation efforts.Spread Awareness:
Share the SoCal Fire Relief Initiative with your networks to amplify its reach and inspire collective action.Wellness Bundles:
Wellness bundle purchases such as the Powersuit, Smart Ring, and Mindbody Matrix Water, help support relief efforts with proceeds contributing to recovery initiatives.

DONATE HERE

Real Impact in Action

Since the fires began, AI Wellness and its partners have made a significant impact:

Delivered over 10,000 water packs to evacuation centers and first responders.Distributed 500 wellness bundles to displaced families.Donated proceeds from the first 1,000 AI Wellness Powersuits and 5,000 Smart Rings to relief efforts.Raised $250,000 to support critical aid and recovery.

“This initiative is about more than providing relief,” said Abby Aboitiz Founder of AI Wellness. “It’s about restoring hope and rebuilding our community, together.”

Uniting Brands and Innovators

During CES 2025, AI Wellness called on brands and innovators to collaborate on this critical mission. Companies can contribute by donating resources, partnering on curated wellness bundles, or amplifying awareness for the initiative.

“We’re inspired by the innovation and generosity of the brands we’ve met here at CES,” said Dr. TK Huynh, Medical Innovator at AI Wellness. “Together, we can transform this tragedy into an opportunity to rebuild lives and strengthen our community.”

Join the SoCal Fire Relief Initiative

Support the SoCal Fire Relief Initiative by visiting aiwellness.ai or contacting AI Wellness directly:

Email: info@aiwellness.aiInstagram: @aiwellnesstv

About AI Wellness

AI Wellness is a pioneer in health, wellness, and philanthropy, combining cutting-edge AI technology with innovative solutions to address the most pressing challenges facing communities today. From digital avatars to precision education and curated wellness bundles, AI Wellness empowers individuals and brands to make a meaningful impact.

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SOURCE Assisted Intelligence Wellness, Inc.

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