GREEN TIRES MARKET ANALYSIS

Green Tires Market, by Vehicle Type (Passenger Cars and Commercial Vehicles), by Applications (On-road and Off-road), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022-2028

To Be Published : Dec 2024
Code : CMI2087
Formats :
Excel and PDF
Industry : Automotive and Transportation

Regional Analysis

Global Green Tries Market: Regional Insights

Europe accounted for the largest market share in 2017 and is expected to retain its dominance during the forecasted period. This growth is attributed to stringent government regulation regarding emission control. For instance, the European Union has set emissions standards. EU Regulation No 443/2009 sets an average CO₂ emission target for new passenger cars of 130 grams/kilometre. This target was gradually set for the period of 2012 and 2015. A target of 95 grams per kilometre will apply from 2021. For light-commercial vehicles, the average CO₂ emission in 2012 was 180 g/km and the target set for 2017 was 178 g/km. Thus, increasing government concern towards environmental protection will further drive automotive manufacturers to incorporate green tire in the vehicles. Hence, this factor will help in propelling growth of the green tries in this particular region.