Dublin, July 10, 2020 (GLOBE NEWSWIRE) -- The "Green Tires - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Green Tires Market to Reach US$139.2 Billion by the Year 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 a CAGR of 9.3% over the period 2020-2027.
Passenger Cars, one of the segments analyzed in the report, is projected to grow at a 9.8% CAGR to 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. This segment currently accounts for a 28.3% share of the global Green Tires market.
The U.S. Accounts for Over 29.6% of Global Market Size in 2020, While China is Forecast to Grow at a 8.7% CAGR for the Period of 2020-2027
The Green Tires market in the U.S. is estimated at US$22.1 Billion in the year 2020. The country currently accounts for a 29.64% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$24.1 Billion in the year 2027 trailing a CAGR of 8.7% through 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 while Rest of European market (as defined in the study) will reach US$24.1 Billion by the year 2027.
The publisher brings years of research experience to this 6th edition of the 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.
- Michelin
- MRF Ltd.
- Nexen Group, Inc.
- Nokian Tyres plc
- Petlas
- Pirelli & C. S.p.A.
- Sailun Tires
- Shandong Linglong Tire Co. Ltd.
- The Yokohama Rubber Co. Ltd.
- Toyo Tires
- ZHONGCE Rubber Group Co. Ltd.
Total Companies Profiled: 42
For more information about this report visit https://www.researchandmarkets.com/r/dfg7i4
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.