The production process for these tires does not require excessive amount of energies while manufacturing of these tires and the pollution generated is relatively low. Growing demand for fuel efficient vehicles, due to low availability of convectional fuel is one of the major driving factors for growth of the market. This green tire helps in reducing consumption of fuel, as it creates less amount of friction while moving the vehicle on road. This reduces rolling resistance of the tire, which further lessens fuel consumption of vehicles. This factor in turn helps in reducing fuel consumption by 5–15%. According to the California Energy Commission (CEC) analysis, the adoption of low-rolling resistance tires could save 1.5–4.5% of all gasoline consumption. Thus, adoption green tire will positively help in reducing consumption of fuel, which in turn helps in propelling growth of the Green Tires Market during the forecasted period (2018–2026).
Major Players in the Green Tires Industry:
Michelin
Michelin was founded in 1889 and it’s headquarter in Clermont-Ferrand, France. The company operates in 170 countries. In 2023 Michelin launched new tires dedicated to electric automobiles in China, a quick response to carmakers and general consumers.
Bridgestone Corporation
Bridgestone Corporation was launch in 1931. And its headquarter - Chuo City, Tokyo, Japan. It operate over 170 country