Technavio’s global automotive green tires market research report forecasts the market to grow at a CAGR of around 15% during the forecast period.
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Technavio has released a new market research report on the global automotive green tires market for the period 2018-2022. (Graphic: Business Wire)
The developments in the field of automotive green tires will be one of the major trends in the global automotive green tires market during 2018-2022. The developments in the field of automotive green tires are being driven by the growing concerns on environmental pollution caused by automobile tires. The stringent emission standards are driving the developments of innovative tire designs, which are made using advanced, energy-efficient materials.
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According to Technavio analysts, one of the key drivers for the global automotive green tires market is the high affordability and low maintenance cost:
Global automotive green tires market: High affordability and low maintenance cost
Some of the crucial drivers of for the global automotive green tires market are the low cost of purchase, affordability, and low maintenance cost. These factors are promoting the penetration of automotive green tires in the global automotive market, where consumers are opting for environment-friendly tires in their vehicles.
According to a senior research analyst at Technavio, “The automotive green tires are appropriately priced in the global automotive market. The vendors operating in the global automotive green tires market offer green tires for each vehicle segment. For instance, Bridgestone offers its Ecopia range of tires at USD 40- USD 60 per tire depending upon vehicle model.”
Global automotive green tires market: Segmentation analysis
This global automotive green tires market analysis report provides market segmentation by application (passenger vehicles and commercial vehicles) and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major applications, the passenger vehicles segment held the largest automotive green tires market share in 2017, contributing to approximately 85% of the market. This application segment will dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2017, accounting for close to 48% share. It was followed by EMEA and APAC respectively. The Americas is expected to dominate the market throughout the period 2018-2022.
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Some of the key topics covered in the report include:
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation
Geographical Segmentation
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
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