The global green tires market size is expected to reach USD 38.35 billion by 2027, exhibiting a CAGR of 4.4% during the forecast period. The growing awareness about the superior benefits of green tires such as rolling resistance and fuel-efficient will spur opportunities for the market, states Fortune Business Insights, in a report, titled “Green Tires Market Size, Share & Industry Analysis, By Size Type (15 inch, 16 inch, 17 inch, and 18 inch), By Application Type (On-Road and Off-Road), By Sales Channel Type (OEM, and Aftermarket), By Vehicle Type (Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles) and Regional Forecasts, 2020-2027.” The market size stood atUSD 27.24 billion in 2019.

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The coronavirus incident has caused colossal loss to several industries across the globe. The governments of several countries have instigated lockdown to thwart the spread of this deadly virus. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.

The Report Lists the Key Companies in the Green Tires Market:

MICHELIN
Bridgestone Corporation
The Goodyear Tire & Rubber Company
Continental AG
Hankook Tire & Technology Co. Ltd.
Pirelli & C. S.p.A.
Cheng Shin Rubber Ind. Co. Lt.
THE YOKOHAMA RUBBER CO., LTD.
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Thwarting Automotive Industry to Retard Market in Coronavirus

The immense losses encountered by manufacturers due to coronavirus has led to a drastic bearing on the market. Various industries are shifting their investment plans to recover the losses from the COVID-19 pandemic. All these problems have ultimately impacted the automotive and transportation industry on a larger scale. The disrupted import and export trades and shut down of manufacturing activities have resulted in increased prices of raw materials, thus, hampering the production and inhibiting the market. Moreover, deterioration in vehicle sales is expected to hinder the market in the forthcoming years. However, the governments in many nations have lifted the lockdown to cope up with enormous losses and consequently stabilize trade activities

Key Development:

March 2020: Goodyear introduced a self-recharging design to expand the life of tires and make them highly adaptable to different weather conditions. The Goodyear ReCharge is the latest concept in the tire that uses a tread that can be supplemented with liquid-filled capsules.

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