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Global Low Rolling Resistance Tire Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

Segmented by End User;

Aftermarket and OEMs.

Segmented by Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2020 - 2030).

Report ID: Rn956491306 Published Date: April, 2024 Updated Date: May, 2024

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Introduction

Global Low Rolling Resistance Tire Market (USD Million), 2020 - 2030

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

#	Global Market (USD Million), 2020 - 2030
2020	99.5
2021	100.4
2022	116.9
2023	134.0
2024	157.2
2025	172.1
2026	191.5
2027	229.0
2028	235.1
2029	236.2
2030	259.6

In the year 2023, the Global Low Rolling Resistance Tire Market was valued at USD 18,437.67 million. The size of this market is expected to increase to USD 43,645.97 million by the year 2030, while growing at a Compounded Annual Growth Rate (CAGR) of 13.1%.

Global Low Rolling Resistance Tire Market Report Snapshot

Parameters	Description
Market	Global Low Rolling Resistance Tire Market
Study Period	2020 - 2030
Base Year (for Low Rolling Resistance Tire Market Size Estimates)	2023
Study Scope	Revenue Analysis (Historical & Forecast) for all segments and geography Market Share Analysis Drivers, Restraints and Opportunity Analysis Market Opportunity Map PEST Analysis Porter's Five Forces Analysis Company's SWOT Analysis Competitors Product Heat Map Analysis
Market Segmentation	End User (Aftermarket and OEMs.)
Geographical Coverage	North America Europe Asia Pacific Middle East and Africa Latin America
Company Coverage	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.
Premium Insights	Latest Updates Analyst Views Future Outlook of the Market

Market Analysis

This report extensively covers different segments of Global Low Rolling Resistance Tire Market and provides an in depth analysis (including revenue analysis for both historic and forecast periods) for all the market segments. In this report, the analysis for every market segment is substantiated with relevant data points and, insights that are generated from analysis of these data points (data trends and patterns).

Global Low Rolling Resistance Tire Market Analysis

In this report, the Global Low Rolling Resistance Tire Market has been segmented by End User and Geography.

Global Low Rolling Resistance Tire Market, Segmentation by End User

The Global Low Rolling Resistance Tire Market has been segmented by End User into Aftermarket and OEMs. The complete Global Low Rolling Resistance Tire Market segmentation by End User can be seen below:

Global Low Rolling Resistance Tire Market, By End User
- Aftermarket
- OEMs

This report provides market size in USD Million and Year on Year (YOY) growth analysis for all the End Users mentioned above for historic (2020 - 2023) and forecast (2024 - 2030) periods with 2023 considered as the base year.

The report also provides an analysis of why the market size of the various segments by End User is increasing or decreasing with time along with the reasons for changes in the YOY growth with time.

Global Low Rolling Resistance Tire Market, by End User (USD Million), 2020 - 2030

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

#	Aftermarket	OEMs
2020	79.5	74.6
2021	81.7	80.4
2022	89.1	89.7
2023	93.6	90.4
2024	96.3	98.0
2025	108.2	113.4
2026	114.7	121.3
2027	134.1	132.4
2028	136.4	134.0
2029	145.3	153.5
2030	169.8	168.2

Global Low Rolling Resistance Tire Market, Segmentation by Geography

In this report, the Global Low Rolling Resistance Tire Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.

Global Low Rolling Resistance Tire Market Share (%), by Geographical Region, 2023

North America	Europe	Asia Pacific	Middle East & Africa	Latin America
20	10	15	5	50

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

Find below the list of Countries covered in each of the aforementioned geographical regions:

North America - United States, Canada and Mexico

Latin America - Brazil, Argentina and Rest of Latin America

Europe - Germany, United Kingdom, France, Italy, Spain and Rest of Europe

Asia Pacific - Japan, China, India, Australia & New Zealand, South Korea, ASEAN (Association of South East Asian Nations) and Rest of Asia Pacific

Middle East & Africa - GCC Countries, Egypt, Israel, South Africa, Rest of Middle East & Africa

This report provides market size in USD Million and Year on Year (YOY) percentage growth analysis for the Low Rolling Resistance Tire Market in all the Regions and Countries (specified above) for historic (2020 - 2023) and forecast (2024 - 2030) Periods with 2023 considered as the base year.

This report also provides an analysis of why the market size of Low Rolling Resistance Tire in various regions and countries is increasing or decreasing with time along with the reasons for changes in the YOY growth with time.

Market Dynamics

This report provides an in depth analysis of various factors that impact the dynamics of Global Low Rolling Resistance Tire Market. These factors include; Market Drivers, Restraints and Opportunities Analysis, Market Opportunity Mapping, PEST (Political, Economic, Social and Technological) Analysis and Porter's Five Forces Analysis.

Drivers, Restraints and Opportunity Analysis

The growth of the Global Low Rolling Resistance Tire Market is driven by; Growing focus toward reducing rolling resistance of tires, Development of LRR tires for electric CVs and Growing popularity of nanotechnology to reduce rolling resistance.
The factors hindering the growth of Global Low Rolling Resistance Tire Market will be discussed in detail in the full report.
The new opportunities in Global Low Rolling Resistance Tire Market will be discussed in detail in the full report.

Drivers

Growing focus toward reducing rolling resistance of tires.
Development of LRR tires for electric CVs.
Growing popularity of nanotechnology to reduce rolling resistance.

Restraints

Global Low Rolling Resistance Tire Market Restraints will be discussed in detail in the full report.

Opportunities

Global Low Rolling Resistance Tire Market Opportunities will be discussed in detail in the full report.

Market Opportunity Map

This report provides market opportunity map for Low Rolling Resistance Tire Market. The opportunity map (by market segments; End User) is calculated based on current year market estimates, CAGR and collective revenue over the forecast period. Since, CAGR has been estimated considering all the factors impacting the market; starting from the company's presence, buyer behaviour, to government interference or support. The opportunity map inherently considers all the aforementioned factors impacting the market. The bubble size reflects the estimated opportunity for a particular segment or region, therefore, bigger the bubble size, larger the opportunity.

Global Low Rolling Resistance Tire Market, Opportunity Map, By Region (2020 - 2030)

Middle East and Africa

Europe

Asia Pacific

Latin America

North America

North America	Europe	Asia Pacific	Middle East & Africa	Latin America
20	10	15	5	50

*Graph shown for illustrative purpose only, the final report will have the bubble Graphs for all the market segments along with the regions

PEST (Political, Economic, Social and Technological) Analysis

This report provides PEST analysis of Low Rolling Resistance Tire Market. Various factors such as government interference in the market such as regulations (which include but are not limited to pricing and intellectual property policies) that might impact the market are analysed.

This report also provides an analysis of Economic factors affecting the market such as; purchasing power, which directly influences the market growth.

This report also provides an analysis of social factors such as social norms or cultural beliefs inhibiting or promoting the growth of the market

As part of PEST analysis, this report also provides analysis of the impact of Technological factors on growth or decline of a market.

Political

In depth analysis and insights about the impact of political factors on this market will be provided in the final report.

Economic

In depth analysis and insights about the impact of economic factors on this market will be provided in the final report.

Social

In depth analysis and insights about the impact of social factors on this market will be provided in the final report.

Technological

In depth analysis and insights about the impact of technological factors on this market will be provided in the final report.

*PEST Analysis representation shown for illustrative purpose only, the final report will have the full PEST Analysis.

Porter's Five Force Analysis

This report provides Porter's Five Forces analysis of Global Low Rolling Resistance Tire Market, which include; Bargaining Power of Suppliers, Bargaining Power of Buyers, Threat of New Entrants, Threat of Substitutes and Competitive Rivalry.

Bargaining Power of Suppliers:

Various factors such as; Supplier Switching Costs Relative to Firm Switching Costs, Supplier Competition and Possibility of Forward Integration, Presence of Substitute Inputs, Strength of Distribution Channels, and Supplier Concentration to Firm Concentration Ratio would be analysed to estimate bargaining power of suppliers in the Global Low Rolling Resistance Tire Market. Bargaining power of suppliers will be reported on a scale of 0-10 with 0 being the lowest value and 10 being the highest value.

Bargaining Power of Suppliers

Supplier Switching Costs Relative To Firm Switching Costs	Strength of Distribution Channels	Supplier Concentration to firm Concentration Ratio	Presence of Substitute Inputs	Supplier Competition and Possibly of Forward Integration
20	10	15	5	50

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

Bargaining Power of Buyers:

Various factors such as; Buyer Concentration to Firm Concentration Ratio, Buyer Switching Costs, Availability of Existing Substitute Products, Buyer Price Sensitivity, and Degree of Dependency upon Existing Channels of Distribution would be analysed to estimate bargaining power of buyers in the Global Low Rolling Resistance Tire Market. Bargaining power of buyers will be reported on a scale of 0-10 with 0 being the lowest value and 10 being the highest value.

Bargaining Power of Buyers

Buyer Competition to Firm Concentration Ratio	Buyer Switching Costs	Availability of existing Substitute Products	Buyer Price Sensitivity	Degree of Dependency upon Existing Channels of Distribution
10	15	25	45	32

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

Threat of Substitutes:

Various factors such as; Availability of Substitutes, Number of Available Substitutes, Price of Substitute Products, Buyer Switching Costs, and Buyer Propensity to Substitute would be analysed to estimate threat of substitutes in the Global Low Rolling Resistance Tire Market. Threat of substitutes will be reported on a scale of 0-10 with 0 being the lowest value and 10 being the highest value.

Threat of Substitutes:

Availability of Substitutes	Number of Available Substitutes	Price of Substitute Products	Buyer Switching Costs	Buyer Propensity to Substitute
20	35	10	2	5

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

Threat of New Entrants:

Various factors such as; Barriers to Entry, Economies of Scale, Product Differentiation, Customer Loyalty, Network Effect, and Access to Distribution Channels would be analysed to estimate threat of new entrants in the Global Low Rolling Resistance Tire Market. Threat of new entrants will be reported on a scale of 0-10 with 0 being the lowest value and 10 being the highest value.

Threat of New Entrants:

Barriers to entry	Economics of scale	Product Differentiation	Customer Loyalty	Network Effect	Access to Ditribution Channels
2	35	25	10	15	55

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

Competitive Rivalry:

Various factors such as; Firm concentration Ratio, Level of Advertising Expense, Sustainable Competitive Advantage through Innovation, Competitive Strategy and Degree of Transparency would be analysed to estimate competitive rivalry in the Global Low Rolling Resistance Tire Market. Competitive rivalry will be reported on a scale of 0-10 with 0 being the lowest value and 10 being the highest value.

Industry Rivalry:

Firm Concentration Ratio	Level of Advertising Expense	Sustainable Competitive Adavantage through Innovation	Degree of Transparency	Competitive strategy
5	10	15	35	45

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

Competitive Landscape Analysis

Key players in Global Low Rolling Resistance Tire Market 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.

In this report, the profile of each market player provides following information:

Company Overview and Product Portfolio
Key Developments
Financial Overview
Strategies
Company SWOT Analysis

Company SWOT Analysis

*SWOT Analysis representation shown for illustrative purpose only, the final report will have the full SWOT Analysis for every player

This report also provides Heat map analysis of Products/Services Offered by different companies operating in this market.

Competitors Products/Services Heat Map Analysis

Company Vs. Product/Service	Company 1	Company 2	Company 3	Company 4	Company 5	Company 6	Company 7	Company 8	Company 9	Company 10
Product 1/Service 1
Product 2/Service 2
Product 3/Service 3
Product 4/Service 4
Product 5/Service 5
Product 6/Service 6
Product 7/Service 7
Product 8/Service 8

Presence Absence

*Heat Map shown for illustrative purpose only, the final report will have the full Heat Map Analysis

Introduction
1. Research Objectives and Assumptions
2. Research Methodology
3. Abbreviations
Market Definition & Study Scope
Executive Summary
1. Market Snapshot, By End User
2. Market Snapshot, By Region
3. Market Opportunity Map
Global Low Rolling Resistance Tire Market Dynamics
1. Drivers, Restraints and Opportunities
  1. Drivers
    1. Growing focus toward reducing rolling resistance of tires
    2. Development of LRR tires for electric CVs
    3. Growing popularity of nanotechnology to reduce rolling resistance
  2. Restraints
  3. Opportunities
2. PEST Analysis
  1. Political Analysis
  2. Economic Analysis
  3. Social Analysis
  4. Technological Analysis
3. Porter's Analysis
  1. Bargaining Power of Suppliers
  2. Bragaining Power of Buyers
  3. Threat of Substitutes
  4. Threat of New Entrants
  5. Industry Rivalry
Market Segmentation
1. Global Low Rolling Resistance Tire Market, By End User, 2022 - 2032 (USD Million)
  1. Introduction
  2. Market Share Analysis, 2024 and 2030 (%)
  3. Y-o-Y Growth Analysis, 2021 - 2030
  4. Segment Trends
    1. Aftermarket
      1. Introduction
      2. Market Size and Forecast, and Y-o-Y Growth, 2020 - 2030 (USD Million)
    2. OEMs
      1. Introduction
      2. Market Size and Forecast, and Y-o-Y Growth, 2020 - 2030 (USD Million)
2. Global Low Rolling Resistance Tire Market, By Geography, 2022 - 2032 (USD Million)
  1. Introduction
  2. Market Share Analysis, 2024 and 2030 (%)
  3. Y-o-Y Growth Analysis, 2021 - 2030
  4. Regional Trends
    1. North America
      1. Introduction
      2. Market Size and Forecast, and Y-o-Y Growth, By End User, 2020 - 2030 (USD Million)
        United States
        Introduction
        
        Market Size and Forecast, and Y-o-Y Growth, By End User, 2020 - 2030 (USD Million)
        
        Canada
        Introduction
        
        Market Size and Forecast, and Y-o-Y Growth, By End User, 2020 - 2030 (USD Million)
    2. Europe
      1. Introduction
      2. Market Size and Forecast, and Y-o-Y Growth, By End User, 2020 - 2030 (USD Million)
        Germany
        Introduction
        
        Market Size and Forecast, and Y-o-Y Growth, By End User, 2020 - 2030 (USD Million)
        
        United Kingdom
        Introduction
        
        Market Size and Forecast, and Y-o-Y Growth, By End User, 2020 - 2030 (USD Million)
        
        France
        Introduction
        
        Market Size and Forecast, and Y-o-Y Growth, By End User, 2020 - 2030 (USD Million)
        
        Italy
        Introduction
        
        Market Size and Forecast, and Y-o-Y Growth, By End User, 2020 - 2030 (USD Million)
        
        Spain
        Introduction
        
        Market Size and Forecast, and Y-o-Y Growth, By End User, 2020 - 2030 (USD Million)
        
        Rest of Europe
        Introduction
        
        Market Size and Forecast, and Y-o-Y Growth, By End User, 2020 - 2030 (USD Million)
    3. Asia Pacific
      1. Introduction
      2. Market Size and Forecast, and Y-o-Y Growth, By End User, 2020 - 2030 (USD Million)
        Japan
        Introduction
        
        Market Size and Forecast, and Y-o-Y Growth, By End User, 2020 - 2030 (USD Million)
        
        China
        Introduction
        
        Market Size and Forecast, and Y-o-Y Growth, By End User, 2020 - 2030 (USD Million)
        
        India
        Introduction
        
        Market Size and Forecast, and Y-o-Y Growth, By End User, 2020 - 2030 (USD Million)
        
        Australia & New Zealand
        Introduction
        
        Market Size and Forecast, and Y-o-Y Growth, By End User, 2020 - 2030 (USD Million)
        
        South Korea
        Introduction
        
        Market Size and Forecast, and Y-o-Y Growth, By End User, 2020 - 2030 (USD Million)
        
        ASEAN (Association of South East Asian Countries)
        Introduction
        
        Market Size and Forecast, and Y-o-Y Growth, By End User, 2020 - 2030 (USD Million)
        
        Rest of Asia Pacific
        Introduction
        
        Market Size and Forecast, and Y-o-Y Growth, By End User, 2020 - 2030 (USD Million)
    4. Middle East & Africa
      1. Introduction
      2. Market Size and Forecast, and Y-o-Y Growth, By End User, 2020 - 2030 (USD Million)
        GCC
        Introduction
        
        Market Size and Forecast, and Y-o-Y Growth, By End User, 2020 - 2030 (USD Million)
        
        Israel
        Introduction
        
        Market Size and Forecast, and Y-o-Y Growth, By End User, 2020 - 2030 (USD Million)
        
        South Africa
        Introduction
        
        Market Size and Forecast, and Y-o-Y Growth, By End User, 2020 - 2030 (USD Million)
        
        Rest of Middle East & Africa
        Introduction
        
        Market Size and Forecast, and Y-o-Y Growth, By End User, 2020 - 2030 (USD Million)
    5. Latin America
      1. Introduction
      2. Market Size and Forecast, and Y-o-Y Growth, By End User, 2020 - 2030 (USD Million)
        Brazil
        Introduction
        
        Market Size and Forecast, and Y-o-Y Growth, By End User, 2020 - 2030 (USD Million)
        
        Mexico
        Introduction
        
        Market Size and Forecast, and Y-o-Y Growth, By End User, 2020 - 2030 (USD Million)
        
        Argentina
        Introduction
        
        Market Size and Forecast, and Y-o-Y Growth, By End User, 2020 - 2030 (USD Million)
        
        Rest of Latin America
        Introduction
        
        Market Size and Forecast, and Y-o-Y Growth, By End User, 2020 - 2030 (USD Million)
Competitive Landscape
1. Heat Map Analysis
2. Company Profiles
  1. Apollo Tyres Ltd.
    1. Company Overview and Product Portfolio
    2. Key Developments
    3. Financial Overview
    4. Strategies
    5. Company SWOT Analysis
  2. Bridgestone Corp.
    1. Company Overview and Product Portfolio
    2. Key Developments
    3. Financial Overview
    4. Strategies
    5. Company SWOT Analysis
  3. Continental AG
    1. Company Overview and Product Portfolio
    2. Key Developments
    3. Financial Overview
    4. Strategies
    5. Company SWOT Analysis
  4. Cooper Tire & Rubber Co.
    1. Company Overview and Product Portfolio
    2. Key Developments
    3. Financial Overview
    4. Strategies
    5. Company SWOT Analysis
  5. Hankook Tire & Technology Co. Ltd.
    1. Company Overview and Product Portfolio
    2. Key Developments
    3. Financial Overview
    4. Strategies
    5. Company SWOT Analysis
  6. Michelin Group
    1. Company Overview and Product Portfolio
    2. Key Developments
    3. Financial Overview
    4. Strategies
    5. Company SWOT Analysis
  7. Pirelli & C. Spa
    1. Company Overview and Product Portfolio
    2. Key Developments
    3. Financial Overview
    4. Strategies
    5. Company SWOT Analysis
  8. The Goodyear Tire & Rubber Co.
    1. Company Overview and Product Portfolio
    2. Key Developments
    3. Financial Overview
    4. Strategies
    5. Company SWOT Analysis
  9. The Yokohama Rubber Co. Ltd.
    1. Company Overview and Product Portfolio
    2. Key Developments
    3. Financial Overview
    4. Strategies
    5. Company SWOT Analysis
  10. ZHONGCE RUBBER GROUP Co. Ltd.
    1. Company Overview and Product Portfolio
    2. Key Developments
    3. Financial Overview
    4. Strategies
    5. Company SWOT Analysis
Analyst Views
Future Outlook of the Market

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Global Low Rolling Resistance Tire Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

Segmented by End User;

Segmented by Geography;

Introduction

Global Low Rolling Resistance Tire Market (USD Million), 2020 - 2030

Global Low Rolling Resistance Tire Market Report Snapshot

Market Analysis

Global Low Rolling Resistance Tire Market Analysis

Global Low Rolling Resistance Tire Market, Segmentation by End User

Global Low Rolling Resistance Tire Market, by End User (USD Million), 2020 - 2030

Global Low Rolling Resistance Tire Market, Segmentation by Geography

Global Low Rolling Resistance Tire Market Share (%), by Geographical Region, 2023

Market Dynamics

Drivers, Restraints and Opportunity Analysis

Market Opportunity Map

Global Low Rolling Resistance Tire Market, Opportunity Map, By Region (2020 - 2030)

PEST (Political, Economic, Social and Technological) Analysis

Porter's Five Force Analysis

Bargaining Power of Suppliers:

Bargaining Power of Suppliers

Bargaining Power of Buyers:

Bargaining Power of Buyers

Threat of Substitutes:

Threat of Substitutes:

Threat of New Entrants:

Threat of New Entrants:

Competitive Rivalry:

Industry Rivalry:

Competitive Landscape Analysis

Company SWOT Analysis

Competitors Products/Services Heat Map Analysis

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