Low Rolling Resistance Tire Market

Low Rolling Resistance Tire Market to Gain Traction from Increasing Demand for Fuel-Efficient Vehicles Worldwide: Fortune Business Insights™

Low Rolling Resistance Tire Market  | 2021 Automotive Industry Global Analysis By Covid-19 Impact On, Size, Trends, Growth, Share, Business, Key Players, Merger, Statistics, Competitive Landscape, And Regional Forecast To 2026 is latest study published by Fortune Business Insights. The Global Low Rolling Resistance Tire Market expected to rise at a notable CAGR and reach USD remarkable a valuation of by 2028.Low Rolling Resistance Tire Market Size, Share & Industry Analysis, By Application Type (On-Road, Off-Road), By Vehicle Type (PC, LCV, HCV) Others and Regional Forecast, 2021-2028

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MajorLow Rolling Resistance Tire Studied In Report:

• Madras Rubber Factory
• Compagnie Generale des Etablissements Michelin SCA
• Bridgestone Corporation
• Falken Tire Corp.
• The Goodyear Tire & Rubber Company
• Continental AG
• Apollo Tyres Ltd
• Sumitomo Rubber Industries
• Other Players

Global Low Rolling Resistance Tire Market Highlights:

The global low rolling resistance tire market size is expected to witness remarkable growth in the coming years on account of rising demand for fuel-efficient vehicles worldwide. A low rolling resistance helps to reduce the loss of energy by the tire when it rolls. Graphene is used in tires to control the rolling effect of the tire and to lower the consumption of fuel. More information on the market is provided in a recent report published by Fortune Business Insights titled, “Low Rolling Resistance Tire Market Size, Share & Industry Analysis, By Application Type (On-Road, Off-Road), By Vehicle Type (PC, LCV, HCV) Others and Regional Forecast, 2019-2026.”

 The COVID-19 pandemic has had a seismic effect on several economies across the globe. To curb the pandemic spread, the governments of several countries have ordered complete lockdown of industrial and human activities. This is expected to have a significant impact on the market in 2020. However, proactive steps by the industry leaders to revive the automotive industry will bode well for the growth of the market in the near future.

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Regional Analysis:

Based on regional segmentation, the market is categorized into the regions of Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. Each of these regions is further categorized on the basis of countries. Among these, Asia Pacific earned the largest low rolling resistance tire market share owing to the rising manufacturing and sales of automobiles in the region with leading nations such as Japan and India. This is followed by Europe with the strict rules imposed on vehicle emission by the government and the rising need for fuel-efficient vehicles in this region. Furthermore, the market in North America will witness stable growth in the coming years.

The increasing number of vehicular production worldwide is the major low rolling resistance tire market growth driver. This, accompanied by the increasing number of car accidents have propelled manufacturers to upgrade their automobile parts especially the tires, thereby aiding to the expansion of the market. The advent of technological advancement in the automobile sector has propelled the demand for various types of automobiles such as SUVs, sports car, convertible, hatchback, couple, and others. Each of these vehicles is designed for different travels and therefore, has different tires that suffice to the needs. This demand for various vehicle types propels the need for high-quality tires, thereby adding impetus to the market in the forthcoming years. Moreover, the rising demand for fuel-efficient vehicles will also bolster growth.

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