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Global Low Rolling Resistance Tire Market: About this marketSpeak directly to the analyst to clarify any post sales queries you may have.
The low rolling resistance tire market analysis considers sales from both aftermarket and OEMs end-users. Our study also finds the sales of low rolling resistance tire in APAC, Europe, MEA, North America, and South America. In 2019, the aftermarket segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as rolling resistance of tires will play a significant role in the aftermarket segment to maintain its market position. Also, our global low rolling resistance tire market report looks at factors such as falling rubber prices boosting the profit margins of tire manufacturers, wide-base LRR tires enabling vehicle weight reduction. and stringent regulations to curb emissions. However, cost concerns surrounding LRR tires, ongoing US-China trade war impacting the tire industry, growing popularity of tire retreading may hamper the growth of the low rolling resistance tire industry over the forecast period.
Global Low Rolling Resistance Tire Market: Overview
Vehicle weight reduction offered by wide-base LRR tires
There has been a surge in demand for lightweight vehicles in recent years. Low rolling resistance tire (LRR) manufacturers are increasingly adopting wide-base LRR tires for trucks and buses as they reduce vehicle weight and improve the fuel efficiency of the vehicles. The wide-base configuration allows fleet operators in reducing the weight of vehicles in the range of 800 to 1400 pounds. The reduced weight further allows the fleet operators to put a high payload on vehicles, particularly, in weight-sensitive applications. Thus, the growing awareness of the benefits of deploying wide-base configuration in modern vehicles will lead to the expansion of the global low rolling resistance tire market at a CAGR of over 10% during the forecast period.
Growing popularity of nanotechnology to reduce rolling resistance
Nanotechnology is increasingly being adopted in tire manufacturing as it helps in reducing the wear and tear of the tires. In addition, this technology offers a strong grip to tires on snow-covered pavements so that they can operate in extreme temperatures with superior performance. Furthermore, nanotechnologies like single-walled carbon nanotubes, allow tires to become more durable, maintain their color for longer duration, and improve heat quality. This development is expected to have a positive impact on the overall market growth.
Competitive Landscape
With the presence of several major players, the global low rolling resistance tire market is fragmented. The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading low rolling resistance tire manufacturers, that include Apollo Tyres Ltd., Bridgestone Corp., Continental AG, Cooper Tire & Rubber Co., Hankook Tire & Technology Co. Ltd., Michelin Group, Pirelli & C. Spa, The Goodyear Tire & Rubber Co., The Yokohama Rubber Co. Ltd., and ZHONGCE RUBBER GROUP Co. Ltd.
Also, the low rolling resistance tire market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Table of Contents
PART 01: EXECUTIVE SUMMARYPART 07: CUSTOMER LANDSCAPEPART 09: DECISION FRAMEWORK
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
PART 04: MARKET SIZING
PART 05: FIVE FORCES ANALYSIS
PART 06: MARKET SEGMENTATION BY END-USER
PART 08: GEOGRAPHIC LANDSCAPE
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
PART 12: VENDOR LANDSCAPE
PART 13: VENDOR ANALYSIS
PART 14: APPENDIX
List of Exhibits
Executive Summary
The following companies as the key players in the global low rolling resistance tire market: Apollo Tyres Ltd., Bridgestone Corp., Continental AG, Cooper Tire & Rubber Co., Hankook Tire & Technology Co. Ltd., Michelin Group, Pirelli & C. Spa, The Goodyear Tire & Rubber Co., The Yokohama Rubber Co. Ltd., and ZHONGCE RUBBER GROUP Co. Ltd.Commenting on the report, an analyst from the research team said: “The latest trend gaining momentum in the market is the growing popularity of nanotechnology to reduce rolling resistance.”
According to the report, one of the major drivers for this market is the vehicle weight reduction offered by wide-base LRR tires.
Further, the report states that one of the major factors hindering the growth of this market is the cost concerns surrounding LRR tires.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Apollo Tyres Ltd.
- Bridgestone Corp.
- Continental AG
- Cooper Tire & Rubber Co.
- Hankook Tire & Technology Co. Ltd.
- Michelin Group
- Pirelli & C. Spa
- The Goodyear Tire & Rubber Co.
- The Yokohama Rubber Co. Ltd.
- ZHONGCE RUBBER GROUP Co. Ltd.
