Low Rolling Resistance Tire Market Key Highlights:
- Market Size (2024): USD 20.18 Billion
- Projected Market Size (2034): USD 61.57 Billion
- CAGR (2024-2034): 11.8%
Pricing Analysis:
- Price Growth
- Regional Variations
Market Historic Sales
- Total sales volume, year-over-year growth, product categories, and market share.
Revenue Estimation
- Forecasting future revenues based on historical data, market trends, and economic indicators.
Sales by Region
- Breakdown of sales performance across different geographical areas.
Revenue by Manufacturer
- Analysis of revenue contributions from different manufacturers in the market.
Low Rolling Resistance Tire Market Definition
Tire rolling resistance is the energy a vehicle requires to send to the tires to maintain movement at a consistent speed over a surface. Low rolling resistance (LRR) tires are tires that reduce energy dissipation and save fuel. The low rolling resistance tire market refers to designing and manufacturing LRR tires. According to the US Department of Energy research, LRR tires can have as much as 10% fuel savings impact for drivers. The rising demand for environmental sustainability and booming vehicle production promote the market. According to the European Automobile Manufacturers’ Association, approximately 85.4 million vehicles were produced globally in 2022. The increasing preference for lightweight vehicles and improved fuel economy gain significant market potential.
• In April 2024, Apollo Tyres announced a partnership with NATRAX to establish its first-of-its-kind test track in India to validate tires for electric vehicles and LRR tires by assessing the cut and chip resistance of tires.
The reduced tire traction of LRR tires, especially on wet or slippery surfaces substantially limits the market growth. Nevertheless, technological advancements drive the latest innovations in LRR tires. Smart tires are developed to increase tire traction and enhance tire performance, providing low rolling resistance tire market growth opportunities.
Low Rolling Resistance Tire Market Segmentation:
By Vehicle Type
- Passenger Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
By Width Type
By Sales Channel
Low Rolling Resistance Tire Market Companies:
- Bridgestone Corporation
- The Goodyear Tire & Rubber Company
- Sumitomo Rubber Industries Ltd.
- Pirelli & C S.p.A
- Hankook Tire
- MICHELIN
- Continental AG
- Trelleborg AB
- The Yokohama Rubber Co. Ltd
- Apollo Tyres Ltd.
- Maxxis International (Cheng Shin Rubber)
- Marangoni S.p.A
- MRF Tyres
- Bridgestone Corporation
- The Goodyear Tire & Rubber Company
- Sumitomo Rubber Industries Ltd.
- Pirelli & C S.p.A
- Hankook Tire
- Continental AG
- Trelleborg AB
- The Yokohama Rubber Co. Ltd
- Maxxis International (Cheng Shin Rubber)
- Marangoni S.p.A
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