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Green Tires Market Forecasted to Reach $152.7 Billion by 2029

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BCC Research Projects an 11.6% CAGR for the Green Tires Market from 2024 to 2029, Reflecting Growing Demand for Sustainable Automotive Solutions

BOSTON, July 5, 2024 /PRNewswire/ — The Green Tires Market focuses on producing and selling eco-friendly tires made from sustainable materials. These tires are designed to improve fuel efficiency, reduce pollution, and be more easily recycled. The market is growing because people and governments want to reduce their environmental impact and save on fuel costs.

Market Expansion and Revenue Surge

According to the latest BCC research study, the demand for Green Tires Market expected to grow from $88.2 billion in 2024 and will reach $152.7 billion by the end of 2029 at a compound annual growth rate (CAGR) of 11.6% from 2024 to 2029.

This report looks at the global green tires market, breaking it down by vehicle type and sales channel. It covers data from 2023 and provides forecasts for 2024 to 2029, with market values in millions of U.S. dollars.

The market is divided into:

Vehicle Types: Passenger vehicles (the largest segment), commercial vehicles, and other types like two-wheelers, agricultural, and mining vehicles.Sales Channels: OEM (original equipment manufacturer) and aftermarket.

Some Interesting Facts about Green Tires Market

Research by the International Council on Clean Transportation shows that improvements in tire energy efficiency, like green tires, can reduce global fuel consumption from passenger vehicles by about 5%. This could cut greenhouse gas emissions by around 100 million tons each year.

To discover more insights and information about Green Tires Market, click here for further exploration.

Factors contributing to this growth include:

Government initiatives to reduce carbon emissions in the tire industry: Governments are reducing carbon emissions in the tire industry by setting strict rules and encouraging fuel-efficient tires. They provide tax credits and grants for making and buying eco-friendly tires. Public campaigns highlight the benefits of green tires, boosting demand. Governments also work with tire makers on sustainable practices and support recycling programs. They use eco-friendly tires for their vehicles to set an example. These efforts help make the tire industry greener and fight climate change.

Increasing preference for electric or fuel-efficient vehicles: More people are choosing electric or fuel-efficient vehicles because they are better for the environment, save money on fuel, and often benefit from government incentives. Advances in technology make these vehicles more practical and appealing, with longer ranges and faster charging times. Stricter regulations on emissions also encourage automakers to focus on producing cleaner vehicles. As awareness grows about their benefits, including lower operating costs and reduced environmental impact, more consumers are opting for electric or fuel-efficient cars over traditional gasoline-powered ones.

Growing demand for tires: simply means that more and more tires are being needed and used. This increased demand can be due to various factors such as more vehicles on the roads, expansion in industries that use heavy machinery, or even growth in sectors like aviation and agriculture where tires are essential. As economies grow and transportation needs increase, so does the need for tries to keep vehicles and machinery moving efficiently and safely.

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Report Synopsis        

Report Metrics

Details

Base year considered

2023

Forecast Period considered

2024-2029

Base year market size

$79.9 billion

Market Size Forecast

$152.7 billion

Growth Rate

CAGR of 11.6% for the forecast period of 2024-2029

Segment Covered

Vehicle Type, Sales Channel, and Region

Regions covered

North America, Europe, Asia-Pacific, and Rest of the World (RoW)

Countries covered           

U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, China, India, Japan, South Korea, Southeast Asia, South America, Middle East and Africa

Key Market Drivers

•  Government initiatives to reduce carbon emissions in the tire industry.

•  Increasing preference for electric or fuel-efficient vehicles.

•  Growing demand for tires.

Market Segmentation

The Green Tires Market can be categorized into various segments:

Vehicle Type
The types of vehicles that the market considers are passenger vehicles, like cars, commercial vehicles, which are often larger vehicles like trucks, and other vehicles, such as motorcycles, tractors, and off-road vehicles.

Sales Channel The sales channels for tires are categorized into OEM (Original Equipment Manufacturer), where tires are sold directly to vehicle manufacturers for new vehicles, and aftermarket, where tires are sold to consumers and businesses for replacement or upgrades after the vehicle has been purchased.

Region
The regions are divided into four main areas: North America, Europe, Asia-Pacific, and the Rest of the World, which covers all other global regions not specifically mentioned.

This report on green tires market provides comprehensive insights and analysis, addressing the following key questions:

What is the projected market size and growth rate of the market?
The green tires market is projected to grow from $79.9 billion in 2023 to $152.7 billion in 2029 at a compound annual growth rate (CAGR) of 11.6% during the forecast period.

What are the key factors driving the growth of the market?
The key factors driving the growth of the green tires market include:Government initiatives to reduce carbon emissions in the tire industry,Increasing preference for electric or fuel-efficient vehicles.

What segments are covered in the market?
The green tires market is segmented based on vehicle type, sales channel, and region.

By vehicle type, which segment will dominate the market by the end of 2029?
The passenger vehicle segment will dominate the market by the end of 2029 in terms of volume.

Which region has the highest market share in the market?
Europe holds the highest share of the market by value. A few of the main factors propelling the European market are several domestic and foreign companies producing green tires, technological advancements, and increasing production and sales of automotive vehicles across several countries in Europe.

Who are the key companies/players in the green tires market?
Key companies in the market include Bridgestone Corporation, MICHELIN, Continental AG, The Goodyear Tire & Rubber Company, Nokian Tyres plc., Pirelli & C. S.p.A., and Toyo Tire Corporation.

Some of the Key Market Players Are:

AEOLUSAPOLLO TYRES LTD.BRIDGESTONE CORP.CONTINENTAL AGTHE GOODYEAR TIRE & RUBBER CO.MICHELINNOKIAN TYRES PLC.PIRELLI & C. S.P.A.TOYO TIRE CORP.

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Directly Purchase a copy of the report with BCC Research.

For further information or to make a purchase, please get in touch with info@bccresearch.com.  

About BCC Research

BCC Research provides objective, unbiased measurement and assessment of market opportunities with detailed market research reports. Our experienced industry analysts’ goal is to help you make informed business decisions, free of noise and hype.

Contact Us
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Email: info@bccresearch.com,
Phone: +1 781-489-7301

For media inquiries, email press@bccresearch.com or visit our media page for access to our market research library.

Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher 

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SOURCE BCC Research LLC

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Youth Power: Foreign Youth Embrace China’s Economic Prospects

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BEIJING, July 13, 2024 /PRNewswire/ — In the latest episode of China Daily’s Youth Power, which aired on June 30, Jan Kerekes, a Canadian who has lived in South China’s Hainan province for six years, shared what led him to settle down here.

Hainan is really opening up. The whole world comes here, and you see the opportunities right in front of you,” Kerekes said. “It is a place where you can pursue your dreams.”

Now a teacher at Hainan University, Andreev Aleksei, a 30-year-old Russian, found Kerekes’s story particularly resonant.

“When I went back to my country, I missed the island so much that I had to come back,” Aleksei said. “Hainan not only hosts the Boao Forum for Asia but it is also the best place for windsurfing and parachuting.”

To encourage international talent to come, Hainan has introduced 16 measures to streamline living and working conditions for foreigners.

For example, Aleksei mentioned that Hainan offers numerous benefits and advantageous policies to assist global talents in establishing businesses in the region.

“[The application process] takes just three days, and it can be completed entirely online, even for foreigners,” he said.

The young guests visited the Haikou Municipal Government Service Center to learn more about these measures. There, they met people from around the world with different needs — whether for visas, education, or business.

“I think it’s a testament to the inclusivity of the entire province,” said Jood Ghazwan Sharaf, a 27-year-old Bulgarian student at Tsinghua University.

Dylan Walker, 27, from the United States, was impressed by the efficiency of the “one window for all” system.

“It’s like a one-stop service,” he said. “You don’t have to run all over the place.”

In addition to aiding tourists and residents in their daily lives and business activities, Hainan has made significant economic progress.

One notable example is the Yangpu Economic Development Zone, which has evolved from a small port into Hainan’s largest international port.

In the zone, the young guests explored the Yangpu Offshore Wind Power Industrial Park, where they discovered Hainan’s commitment to developing its marine economy and striving for a harmonious coexistence with the ocean.

According to Lin Qingsong, the park’s general manager, while Hainan’s wind power utilization is still in its early stages, this project stands out as a pioneering model for future large-scale offshore wind power initiatives.

“We can see that China is not an economy that goes within itself. It goes outward to benefit the rest of humanity,” Sharaf said, impressed by China’s innovative economic experiments.

As a global resident of Hainan, Aleksei believes that this island is not only a dynamic free trade model but also a natural paradise that strikes a balance between work and leisure.

“This is quite a unique place in China,” Aleksei said. “No matter what purpose brings you here, whether it’s tourism, starting a business, or work, just come here, and you will fall in love with it.”

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SOURCE 21st Century English Education Media

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Unimoni Student Stars 2024 – Scholarship & Rewards Program Launched: Study Abroad with ₹12 Lakhs Scholarship

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KOCHI, India, July 13, 2024 /PRNewswire/ — Unimoni, a leading provider of international money transfer services, is thrilled to announce the launch of its highly anticipated Unimoni Student Stars 2024 scholarship program. This year, the program offers a staggering ₹12 lakhs in scholarships and prizes, empowering ambitious Indian students to pursue their educational dreams abroad.

Unimoni Student Stars 2023 proved to be a monumental success, underscoring Unimoni’s commitment to nurturing India’s brightest talents pursuing international education. The program garnered widespread acclaim for its inclusive approach and impactful support of deserving students nationwide.

Building on last year’s initiative’s resounding achievements, which supported numerous talented students in pursuing overseas education dreams, Unimoni aims to elevate its impact further in 2024. The Unimoni Student Stars 2024 scholarship program launched with increased prize offerings, expanded eligibility criteria, and enhanced participant engagement initiatives planned. The company is poised to attract an even broader pool of exceptional candidates.

Beyond the Mega Scholarships: Exciting Rewards Throughout the Year

The Unimoni Student Stars 2024 scholarship program offers a tiered prize structure. The grand prize winner receives a life-changing scholarship of ₹5 lakhs. Additionally, one student will be awarded a second prize of ₹2 lakhs and three deserving students will receive scholarships worth ₹1 lakh each. Every quarter during the application period, lucky applicants will have the chance to win a new laptop. Every month, registered students can win a stylish trolley bag, perfect for their international studies. Plus, every participant secures a coveted free study abroad forex card.

Brace yourselves for a journey of triumph and rewards with Unimoni Student Stars 2024.

Eligibility Criteria

The Unimoni Student Stars 2024 scholarship program is open to Indian students either pursuing higher education abroad or planning to do so. To be eligible, candidates must register on the Unimoni or Remit Forex website with relevant details by March 31, 2025. Eligibility criteria include securing 60% or more in 10+2/diploma or graduation from institutions recognized by CBSE/ICSE/UGC/State/Central government. Candidates must also possess a valid offer letter from a foreign university. Indian students studying overseas are eligible but must update their university details during registration.

The registration process is straightforward

The application process is designed to be simple and convenient. Students can register online at the Unimoni website or the Remitforex website. Or scan QR codes from advertisements or social media links and complete a dedicated registration landing page. Candidates must accept the terms and conditions after entering personal and educational details and confirming eligibility. Subscribing to Unimoni or Remit Forex’s social media pages is encouraged, and additional referral benefits are available.

The Application Window Opens July 1, 2024

Register for Unimoni Student Stars 2024

Embark confidently on the study abroad journey by joining the Unimoni Student Stars 2024 program. Register now to unlock exclusive benefits and services tailored to support every international education dreams. From seamless outward remittance solutions to expert guidance on financial transactions, Unimoni ensures everyone’s study abroad experience is smooth and stress-free.

Follow Unimoni on social media for updates on the Unimoni Student Stars 2024 scholarship program and other exciting initiatives.

Don’t miss out – seize this opportunity to realize global ambitions with Unimoni. Please register today and let Unimoni empower candidates on their educational journey abroad.

To begin the registration process, please visit https://cutt.ly/xehwoWCk  

About Unimoni & Their Customized Services to Meet Everyone’s Needs

Committed to facilitating global education opportunities, Unimoni empowers students to achieve their academic dreams abroad and promotes its services to aspiring students.

Whether you’re remitting funds for tuition fees or living expenses, Unimoni ensures secure and streamlined outward remittance services. Unimoni’s competitive rates and efficient exchange services also make navigating currency exchanges seamless. Our exclusive study abroad forex card offers convenience and security, facilitating hassle-free financial transactions wherever you are. If you need assistance with Guaranteed Investment Certificates (GICs), Blocked Accounts, or Foreign Telegraphic Transfers (FTS), Unimoni provides expert guidance and support.

Unimoni facilitates effortless payments for university fees, hostel charges, and other expenses abroad, ensuring timely transactions to support your academic journey. Unimoni offers comprehensive health insurance plans, flexible and competitive overseas education loan options, and suitable student accommodation to ensure a smooth transition to your new academic environment. You need not worry about visa procurement, passport assistance, flight bookings, and pre-departure orientation!

Unimoni Financial Services Ltd
Web: https://www.unimoni.in / https://remitforex.com  
Email: care@remitforex.com  
Contact : +918129922232

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Faith In Young Champions: Hisense Partners with UEFA Foundation to Bring the Beautiful Game to Hospitalized Children

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QINGDAO, China, July 12, 2024 /PRNewswire/ — During the EURO 2024 tournament, the global home appliance and consumer electronics brand Hisense and the UEFA Foundation jointly launched “Faith In Young Champions,” a public welfare initiative. Innovative robots powered by Hisense enabled hospitalized children from 22 countries to virtually connect with 23 EURO 2024 matches, fulfilling their dreams of attending the event despite physical limitations.

During these periods, children can employ the robot to gain entry into exclusive areas, such as the warm-up zone, locker room or VIP section, directing interaction with their beloved players or teams, so that every football-loving soul can express the purest passion of live football in this way.

As part of its commitment to improving the lives of children, Hisense wants to leverage user-centric technology and social responsibility worldwide. For this remarkable occasion, Hisense supported state-of-the-art commercial products like interactive displays to a hospital in South Africa, and the children had the enriching opportunity to learn how this technology works through interactive activities with the help of volunteers. Also, hospital can use that in their daily office, meeting or discussion, making their working processes more electronic and convenient. 

“We gladly accept the digital board and it will go a very long way to share ideas and brain storm with the directors, doctors and management teams of the hospital, this digital version will make life so much easier.” According to the manager of hospital.

UEFA Foundation was founded in 2015 as a charitable organization governed under Swiss law, with a long-standing philosophy that aligns with the concepts of youth care and social responsibility of Hisense. During the EURO 2024 tournaments, fans also noticed “BECAUSE EVERY CHILD IS A CHAMPION” slogan on the LED board at the pitch side, which perfectly coincides with the “Faith In Young Champions” proposal called upon by Hisense this year, also making the collaboration more possible.

Carine Nkoue, General Secretary of the UEFA Foundation, said, “Football is not only the number one sport in the world but is also a great platform to create solidarity projects for those in need. I would like to encourage all of you to join the activities of the UEFA Foundation for children and become a supporter of this global initiative. With Hisense’s support and the solidarity of the European football family, we can achieve even more.”

Engaging in charitable endeavors and fulfilling corporate social responsibility has long been a cornerstone of Hisense’s corporate culture. The company has proactively allocated resources towards public welfare initiatives with the concept of helping everyone enjoy every moment of life with user-centric technology.

Thanks to its global presence in the diversity industries, Hisense is empowered to take on a broad range of social responsibilities to enhance healthcare and education standards worldwide. Hisense exports ultrasound and other equipment to over 20 countries in Asia, Central and Eastern Africa, and Europe to meet a diverse range of those in needs. Hisense’s commercial display products have also gained market traction in over 40 countries, including Europe, the United States, and the Asia-Pacific region.

For many years, Hisense has actively participated in public welfare activities initiated by world-class sports events. The collaboration this time is a spiritual inspiration to upgrade the CSR campaign from product sponsorship to beyond time and space.

Looking ahead, Hisense and UEFA Foundation will keep working to advance their philanthropic efforts and provide greater benefits to various regions around the world by leveraging their respective resources. 

About Hisense
Hisense is a leading global home appliance and consumer electronics brand. Hisense’s business covers multimedia products (with a focus on Smart TVs), home appliances, and IT intelligent information. Hisense ranked No. 2 globally for TV shipments and No. 1 in 100″ TVs in both 2023 and Q1 2024, and now operates in more than 160 countries.

 

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SOURCE Hisense Group

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