Global Green Tires Market to Reach $139.2 Billion by 2027
Amid the COVID-19 crisis, the global market for Green Tires estimated at US$74.6 Billion in the year 2020, is projected to reach a revised size of US$139.2 Billion by 2027, growing at aCAGR of 9.3% over the period 2020-2027. Passenger Cars, one of the segments analyzed in the report, is projected to record 9.8% CAGR and reach US$102.9 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Commercial Vehicles segment is readjusted to a revised 8.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $22.1 Billion, While China is Forecast to Grow at 8.7% CAGR
The Green Tires market in the U.S. is estimated at US$22.1 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$24.1 Billion by the year 2027 trailing a CAGR of 8.7% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.7% and 7.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 7.5% CAGR.We bring years of research experience to this 6th edition of our report. The 171-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.Competitors identified in this market include, among others,
- Apollo Tyres Ltd.
- Balkrishna Industries Limited (BKT)
- Bridgestone Corporation
- Cheng Shin Rubber Ind. Co., Ltd.
- Continental AG
- Cooper Tire & Rubber Company
- Goodyear Tire & Rubber Company
- Hankook Tire Co., Ltd.
- Kenda Tires
- Kumho Tire Co., Inc.
- MRF Ltd.
- Nexen Group, Inc.
- Nokian Tyres plc
- Pirelli & C. SpA
- Sailun Tires
- Shandong Linglong Tire Co., Ltd.
- The Yokohama Rubber Co., Ltd.
- Toyo Tires
- ZHONGCE Rubber Group Co., Ltd.