Green Tires Market Share

Green Tires Market Share Analysis

The competition among fleet owners has become intense, pushing them to adopt measures that not only improve fuel efficiency but also boost their profits. Green tires play a crucial role in achieving these goals. According to Rubber Division ACS, a part of the American Chemical Society, about one-third of the power needed to move a heavy-duty truck is attributed to the rolling resistance of its tires. This rolling resistance, second only to engine loss, contributes significantly to the total energy loss in heavy-duty trucks.

Recognizing the potential impact on commercial vehicles, manufacturers of green tires are directing their efforts towards developing tire compounds specifically tailored for trucks. These compounds aim to reduce the rolling resistance of tires while maintaining their durability and treadwear. For example, The Goodyear Tire & Rubber Company is actively working on creating green tires designed for long-haul applications. These tires aim to maximize fuel savings by minimizing heat generation and rolling resistance. In 2018, Goodyear planned to introduce its most fuel-efficient tire range. According to the company's data, these new tires use a silica compound that could save more than USD 338,000 in fuel costs annually for a fleet of 100 vehicles, helping truck manufacturers meet future emission targets.

Therefore, the increasing demand for green tires, especially within fleets, presents a significant opportunity for the adoption of these eco-friendly tires during the forecast period. Fleet owners are increasingly recognizing the financial benefits and environmental advantages of incorporating green tires into their operations. The potential for substantial fuel savings and meeting emission targets aligns with the business objectives of fleet owners, making green tires a strategic choice to enhance efficiency and profitability.