Technology

Green Tires Market Forecasted to Reach $152.7 Billion by 2029

Published

2 years ago

July 5, 2024

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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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.

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

Technology

DTE Energy intends to pause future electric rate requests following upcoming filing as data centers come online

Published

25 minutes ago

April 23, 2026

Affordability benefits from data centers expected to help offset reliability investments for all customers

DETROIT, April 23, 2026 /PRNewswire/ — DTE Energy (NYSE: DTE) announced today that its electric company intends to forego asking for rate increases for at least two years following its upcoming filing with the Michigan Public Service Commission (MPSC) on April 28, 2026.

“Now more than ever, we know affordability matters to our customers – and we’re doing everything we can to keep energy bills as low as possible while also providing the reliable power they need,” said Joi Harris, president and chief executive officer, DTE Energy. “As long as the first data center project we’re supporting comes online as planned by the end of 2027 and we’re able to receive other regulatory approvals, we will refrain from filing another rate request until at least 2028—providing customers two years without an increase in rates after the current request is complete.”

Affordability Benefits of Data Center Development

When a new large customer is brought onto the electric system, fixed costs can be spread more widely. DTE’s two data center contracts – one approved and one currently with the MPSC for approval – will contribute nearly $9 billion to improving DTE’s electric system through 2045, helping to reduce the total amount needed from other customers.

“That’s why we’re excited to see the expected benefits of responsible data center development come to fruition,” said Harris. “This new industry is not only helping to grow Michigan’s economy, but once the data centers are fully online, it will make energy more affordable for all customers while bolstering our investments in creating the grid of the future.”

Upcoming investment request

DTE Electric’s upcoming investment request is designed to build on recent reliability gains and continue strengthening its electric grid for the customers and communities the company serves in southeast Michigan. The request reflects DTE’s ongoing commitment to targeted investments that reduce outages, restore power faster when interruptions do occur and ensure reliable and cleaner energy for customers every day.

In 2025, DTE’s electric customers experienced the company’s best reliability performance in nearly 20 years — progress driven by sustained investments in tree trimming, grid hardening, automation and other system improvements.

“Reliable power isn’t just about keeping the lights on, it’s about supporting families, businesses and the broader Michigan economy,” said Matt Paul, president and chief operating officer, DTE Electric. “While we’re proud of our progress, we know we have more work ahead. Every investment we make moves us closer to our goal: a stronger, more reliable grid for every DTE customer, no matter the weather.”

As DTE continues investing in reliability and cleaner energy, the company is focused on limiting the long-term impact on customer bills and reducing the need for future rate requests. DTE continues to drive efficiencies in its operations and expects growing data center development to create meaningful customer affordability benefits over time.

What Happens Next

The filing on April 28 represents a formal request of $474.3 million to support several billion dollars of investment in the electric grid and power generation, marking the beginning of an approximately 10‑month regulatory review process. A final decision by the MPSC and any potential rate changes are not expected until late February 2027.

Key Things Media Should Know

The filing itself does not result in a bill increase. The filing will be reviewed by the MPSC as a contested case with opportunity for intervenor testimony. A final decision on the rate request will not be received from the MPSC until February 2027, with a customer rate change happening soon after.

Customers are seeing real reliability improvements – when we invest, it works.
DTE delivered its most reliable year in nearly 20 years in 2025, reducing the time customers spent without power by 60% compared to 2024, building on a 70% improvement the year before. Continued investment is essential to delivering the reliability customers demand and deserve. Learn more: Building a stronger, more reliable electric grid for you

These investments are enhancing DTE’s clean energy advancements. The upcoming filing also supports the completion of the conversion of the Belle River Power Plant from coal to natural gas as well as the development of the Trenton Channel Energy Center – expected to be the largest stand-along battery energy storage facility in the Great Lakes region when it is commissioned. Learn more: DTE CleanVision IRP: Roadmap to Net Zero by 2050

DTE remains focused on affordability. Since 2021, DTE’s electric bill growth has been among the lowest in the country. Residential electric bills are in the first quartile nationally and remain below the state of Michigan, Great Lakes region and national averages. For more information about DTE’s plans to build the energy grid of the future and the impact of our investment requests, visit https://www.dteenergy.com/future

No costs related to data centers are included in this investment request and data centers will not raise customer rates. Data centers—including the one DTE has been approved to support in Saline Township and the project under review in Van Buren Township – are governed by separate contracts and are required to pay the full cost of the infrastructure needed to serve them, ensuring other customers are protected. DTE customers will NOT subsidize data center rates. For more information, visit dteenergy.com/datacenterfacts

About DTE Energy

DTE Energy (NYSE:DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include an electric company serving 2.3 million customers in Southeast Michigan and a natural gas company serving 1.4 million customers across Michigan. The DTE portfolio also includes energy businesses focused on custom energy solutions, renewable energy generation, and energy marketing and trading. DTE has continued to accelerate its carbon reduction goals to meet aggressive targets and is committed to serving with its energy through volunteerism, education and employment initiatives, philanthropy, emission reductions and economic progress. Information about DTE is available at dteenergy.com, empoweringmichigan.com, x.com/DTE_Energy and facebook.com/dteenergy.

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SOURCE DTE Energy

Technology

Therap Timesheet Module: Simplifying Staff Hours and Activity Management

Published

25 minutes ago

April 23, 2026

TORRINGTON, Conn., April 23, 2026 /PRNewswire/ — Therap Services, the national leader in HIPAA-compliant electronic documentation solutions for organizations in Long-Term Services and Supports (LTSS), Home and Community-Based Services (HCBS), and other human services industries, has introduced a new Timesheet module designed to simplify how staff track daily work activities and paid/unpaid time off, helping agencies reduce administrative complexity and focus more on delivering quality services.

Centralized Time Tracking and Administration

The Timesheet module brings staff time tracking into one centralized system, reducing the need for manual processes and disconnected tools. Agencies can track staff activities consistently across teams, improving clarity and standardization.

Flexible Timesheet Creation and Approval Workflow

With built-in workflows for submitting and reviewing time entries, the module helps reduce administrative burden while supporting timely approvals. Agencies gain better control over staff hours, helping ensure accurate records and smoother internal processes.

Self-Service Tools for Staff

Staff can easily log their hours and time off through a simple interface, empowering them to manage their own entries. This reduces back-and-forth communication and allows teams to focus more on service delivery.

Dynamic Views and Navigation

Multiple viewing options make it easier for both staff and administrators to understand schedules at a glance. This improved visibility supports better planning, coordination, and day-to-day decision-making, especially in fast-paced service environments.

Integrated EVV and Visual Tracking

By aligning timesheet entries with scheduled services, the module helps promote consistency between recorded time and delivered services. Visual indicators show the status of entries at a glance, making oversight more efficient and helping agencies stay compliant and audit-ready.

Why This Matters for Providers

The Timesheet module helps agencies:

Reduce manual effort and administrative workloadImprove accuracy and consistency in staff time trackingIncrease visibility into staff activities and schedulesSupport timely approvals and better oversightStrengthen alignment between services and recorded time

To know more, visit:

https://www.therapservices.net/products/comprehensive-esolution-for-person-centered-services/

About Therap Services

Therap’s comprehensive and HIPAA-compliant software is used in human services settings for documentation, communication, reporting, EVV and billing.

Learn more at:

https://www.therapservices.net/

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SOURCE Therap Services

Technology

Groundfloor Co-Founder and CEO Brian Dally Named Entrepreneur Of The Year® 2026 Southeast Finalist by EY US

Published

25 minutes ago

April 23, 2026

EY US celebrates entrepreneurs shaping the future of business

ATLANTA, April 23, 2026 /PRNewswire/ — Groundfloor, the award-winning private markets platform, today announced that its co-founder and CEO, Brian Dally, has been named one of 35 finalists for the Entrepreneur Of The Year® 2026 Southeast Award, one of the most prestigious awards programs in the world.

Now in its 41st year, the Entrepreneur Of The Year program by EY US celebrates leaders who reshape industries, drive innovation, and create long-term value. An independent panel of judges selected Dally as a finalist following a rigorous application and interview process.

“We built Groundfloor from day one for the purpose of opening access to private markets on equal terms for the full spectrum of individual retail investors,” said Dally. “The importance of that mission has always been fuel for overcoming the barriers, misapprehensions, and challenges we’ve faced. I am profoundly grateful for this recognition, my 13-year partnership with Nick, and the believers who contributed their talent, capital, and ideas to making it possible.”

After a successful stint with Republic Wireless, where he helped deliver affordable mobile phone access to millions, Dally launched Groundfloor with the goal of expanding access to private capital markets. Despite early skepticism from industry experts, he and his co-founder, Nick Bhargava, invested significant personal resources and navigated complex regulatory hurdles to bring the concept to life. Their efforts led to the first-ever SEC qualification of its kind, opening a new pathway for individual investors to participate in private markets.

Under Dally’s leadership, Groundfloor has grown into a category leader with more than 300,000 registered users who have invested over $2.2 billion across its platform. The company pioneered fractional investments into deferred pay business purpose residential real estate debt, a now widely recognized asset class, and has continued to innovate with products like Groundfloor Notes. In keeping the company aligned with its vision, Dally also turned to individual investors instead of VCs for growth capital. Groundfloor is now proudly owned by 32% of its own customers.

Over the last 13 years, Groundfloor has been widely recognized for its innovation, growth, and unique approach to fundraising, earning accolades including the Forbes Fintech 50, Benzinga’s Best Alternative Investment Platform, and six consecutive years on the Inc. 5000 list.

Regional award winners for the Entrepreneur Of The Year 2026 Southeast Award will be announced on June 18th in Charlotte, N.C., and will go on to be considered for national honors later this year.

About Groundfloor
Groundfloor is an award-winning investing and lending company that unlocks institutional-grade private markets for investors and borrowers. Known for its regulatory prowess and developing new financial products, the company was the very first to be qualified to offer direct real estate debt investments for both accredited and non-accredited audiences alike. Groundfloor has won numerous awards for its product innovation and growth, including the Forbes Fintech 50 and six years in a row of being on the Inc. 5000. Since it launched in 2013, Groundfloor’s investors have invested $2.2 billion across its offerings. Start investing or borrowing at Groundfloor.com.

About Entrepreneur Of The Year ®
Founded in 1986, Entrepreneur Of The Year ® has celebrated more than 11,000 ambitious visionaries who are leading successful, dynamic businesses in the US, and it has since expanded to nearly 80 countries and territories globally. The US program consists of 17 regional programs whose panels of independent judges select the regional award winners every June. Those winners compete for national recognition at the Strategic Growth Forum ® in November where national finalists and award winners are announced. The national overall winner represents the US at the World Entrepreneur Of The Year ® competition. Visit ey.com/us/eoy.

Media Contact:
Hela Sheth
hela@katalystcomms.com

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SOURCE Groundfloor Finance Inc.