Connect with us

Technology

Green Tires Market Forecasted to Reach $152.7 Billion by 2029

Published

2 years ago

on

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.

Request a Sample Copy of the Green Tires Market 

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.

Browse For More Related Reports:

ESG in the Automobile Industry- ESG in the automobile industry stands for Environmental, Social, and Governance factors. It involves making cars in ways that are good for the planet, treating workers and communities well, and having honest and fair company practices. This means reducing pollution, ensuring safe and fair workplaces, and being transparent and ethical in business operations.

Automotive Electronics: Global Markets for IC Engine and EVs- Automotive electronics involve the technology and systems used in vehicles, both with internal combustion engines (IC engines) and electric vehicles (EVs). This market includes components like sensors, control units, and infotainment systems. For IC engine vehicles, electronics help manage engine performance, emissions, and safety features. In EVs, electronics are crucial for battery management, electric drive controls, and charging systems. The global market for these technologies is growing as vehicles become more advanced and the shift towards electric mobility accelerates.

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
Corporate HQ: 50 Milk St. Ste 16, Boston, MA 02109, USA
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 

Logo: https://mma.prnewswire.com/media/2183242/BCC_Research_Logo.jpg

 

View original content:https://www.prnewswire.com/news-releases/green-tires-market-forecasted-to-reach-152-7-billion-by-2029–302189989.html

SOURCE BCC Research LLC

Related Topics:
Continue Reading

Technology

LEAP Group Relaunches HumanView, a Growth Intelligence System Built to Explain Why Customers Behave the Way They Do

Published

3 hours ago

on

October 24, 2026

By

Reimagined from the ground up, HumanView pairs statistical modeling with expert analysts to turn millions of real-world customer signals into business decisions

LOUISVILLE, Ky., Oct. 23, 2026 /PRNewswire/ — LEAP Group today announced the relaunch of HumanView, its growth intelligence service. The new version has been rebuilt from the ground up and now has a dedicated home at leapgroupnetwork.com/humanview.

HumanView analyzes what customers say and do across social platforms, e-commerce sites, review platforms, search behavior and user-generated content, including signals from Reddit, TikTok, YouTube, Meta, Amazon and Walmart+ that general AI tools cannot always access. Because the data reflects unprompted, real-world behavior, it avoids the response bias built into surveys and focus groups.

The service works in three layers. HumanView captures signals at scale, decodes millions of records through validated statistical models such as regression, correlation and clustering, and then relies on experienced analysts to interpret the patterns. Clients receive clear, human-validated insights instead of another dashboard.

“Machines find the patterns. Humans find the point,” said Alan Gilleo, CEO at LEAP Group. “The first version of HumanView showed us how much customers reveal when nobody is asking them questions. This version is built to explain why they act the way they do, and to put those answers in front of everyone making decisions, from product to service to marketing.”

HumanView focuses on three areas:

Growth Intelligence: customer motivations and how people perceive a brand and its competitors

Market and Category Intelligence: product pain points, service friction, unmet needs and competitive gaps

Audience Intelligence: new segments, positioning opportunities and gaps in the market

Every model is designed and validated by data scientists and benchmarked before it informs a recommendation.

To learn more about HumanView, visit leapgroupnetwork.com/humanview.

About LEAP Group
LEAP Group is a boutique marketing agency holding company with offices in Louisville, Indianapolis, Cincinnati and Chicago. Guided by the belief that brands should “Market Less. Matter More.,” LEAP gives clients access to specialized experts across its entire network. Learn more at leapgroupnetwork.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/leap-group-relaunches-humanview-a-growth-intelligence-system-built-to-explain-why-customers-behave-the-way-they-do-302918557.html

SOURCE LEAP Group

Continue Reading

Technology

STEPHEN A. SMITH ADDRESSES WHITE HOUSE DINNER ATTENDANCE, REAFFIRMS COMMITMENT TO HBCUs AND PROTECTING CORPORATE INVESTMENT IN BLACK EDUCATION

Published

4 hours ago

on

October 24, 2026

By

NEW YORK, Oct. 23, 2026 /PRNewswire/ — Stephen A. Smith, media mogul, New York Times bestselling author, and proud 1991 graduate of Winston-Salem State University, is addressing the public discussion surrounding his decision to attend a White House dinner with President Donald Trump, emphasizing his commitment to the long-term financial stability of Historically Black Colleges and Universities (HBCUs).

For Smith, the decision was rooted in a commitment to institutions that have educated generations of Black leaders, professionals, entrepreneurs, and public servants.

“I will always advocate for HBCUs and the students whose futures depend on them,” Smith said. “My reason for attending the White House dinner was to discuss the challenges these institutions face in securing long-term funding and to make the case that corporate America must continue to invest in them.”

Smith acknowledged federal support through the FUTURE Act while expressing concern that political tensions surrounding diversity, equity, and inclusion (DEI) could discourage private companies from supporting HBCUs. He maintains that these institutions deserve sustained corporate partnerships, philanthropic contributions, and public investment.

“If we truly believe in free-market capitalism, businesses should be able to support educational institutions and charitable causes without fear of criticism or repercussions,” Smith said. “HBCUs have made extraordinary contributions to this country. They deserve sustained public and private investment.”

Ashley Christopher, Esq., Founder and CEO of the HBCU Week Foundation, recognized Smith’s advocacy and decision to engage with the administration.

“Stephen A. Smith has been a powerful advocate for HBCUs, using his platform and influence to shine a national spotlight on our institutions,” expressed Christopher, “His continued support of HBCU Week helps advance our mission of connecting students with life-changing educational opportunities, and we are proud to have him as our ambassador.”

Since Smith became an HBCU Week Ambassador in 2019, the initiative has facilitated more than 15,000 on-the-spot college acceptances and raised and awarded more than $150 million in scholarships, according to the HBCU Week Foundation.

As public discussion continues, Smith is emphasizing the importance of ensuring HBCUs have the resources and partnerships needed to educate future generations and expand opportunities for students.

CLICK HERE to watch Smith’s full response to his White House visit.

MEDIA CONTACT:

media@mrsasinc.com

View original content:https://www.prnewswire.com/news-releases/stephen-a-smith-addresses-white-house-dinner-attendance-reaffirms-commitment-to-hbcus-and-protecting-corporate-investment-in-black-education-302918547.html

SOURCE Straight Shooter Media

Continue Reading

Technology

Advantex Announces Completion of Financing and Extension of Maturity Date of Previously Issued Debentures

Published

4 hours ago

on

October 24, 2026

By

TORONTO, Oct. 23, 2026 /CNW/ — Advantex Marketing International Inc. (CSE: ADX) (“Advantex”), a leader in the merchant cash advance and loyalty marketing products for merchants, today announced the completion of a $250,000 secured debt financing. Advantex issued a $250,000 non-convertible debenture which bears an interest rate at 12% per annum and matures December 15, 2027. The proceeds raised from this issuance of the Debenture will be used for working capital purposes.

Advantex has also extended the maturity of its existing $700,000 in 12% secured debentures from October 10, 2026 to December 15, 2027.

About Advantex Marketing International Inc.

Advantex provides working capital to merchants. Advantex also provides specialized marketing programs that enable members of Aeroplan to earn Aeroplan points at participating merchants.

Advantex shares trade on the Canadian Securities Exchange under the symbol ADX. For more information go to Advantex’s profile on www.sedar.com

Forward-Looking Information

This news release contains “forward-looking statements” within the meaning of applicable securities laws relating to the future business and operations of Advantex. Actual results and developments may differ materially from those contemplated by these statements. The business and operations of Advantex described herein is dependent on a number of factors and is subject to a number of risks and uncertainties. Factors that could cause actual results to differ material include, but are not limited to, changes in Advantex’s economic and competitive conditions including but not limited to the industry sectors in which Advantex operates.

The statements in this news release are made of the date of this release. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date the statements are made and Advantex undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.

SOURCE Advantex Marketing International Inc.

Continue Reading

Trending