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Q2 2024: Goodyear Unveils New Range of Low Rolling Resistance Tires for Electric Vehicles Goodyear announced the launch of a new line of low rolling resistance tires specifically designed for electric vehicles, aiming to improve energy efficiency and extend driving range. The new product line will be available in North America and Europe starting in Q3 2024.
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Q1 2024: Michelin Launches e.Primacy 2, Its Latest Low Rolling Resistance Tire Market for Passenger Cars Michelin introduced the e.Primacy 2 tire, an updated low rolling resistance model for passenger vehicles, targeting improved fuel efficiency and reduced CO2 emissions. The tire will be rolled out across European markets in 2024.
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Q2 2024: Continental Expands Low Rolling Resistance Tire Market Production at Portugal Facility Continental announced the expansion of its tire manufacturing facility in Lousado, Portugal, to increase production capacity for low rolling resistance tires, supporting growing demand from European automakers.
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Q2 2024: Bridgestone and EV Startup Fisker Announce Partnership for Low Rolling Resistance Tire Market Supply Bridgestone entered into a partnership with Fisker to supply low rolling resistance tires for Fisker's upcoming electric SUV models, with deliveries scheduled to begin in late 2024.
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Q1 2024: Sumitomo Rubber Industries to Open New R&D Center Focused on Low Rolling Resistance Tire Market Technology Sumitomo Rubber Industries announced the opening of a new research and development center in Japan dedicated to advancing low rolling resistance tire technologies, with a focus on sustainable materials and improved performance.
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Q3 2024: Pirelli Launches Cinturato P7 Blue, a New Low Rolling Resistance Tire Market for Hybrid Vehicles Pirelli introduced the Cinturato P7 Blue, a low rolling resistance tire designed for hybrid vehicles, aiming to enhance fuel efficiency and reduce environmental impact. The tire will be available in select global markets starting September 2024.
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Q2 2024: Hankook Tire Wins OEM Contract to Supply Low Rolling Resistance Tires for Volkswagen ID.4 Hankook Tire secured an original equipment manufacturer (OEM) contract to supply low rolling resistance tires for the Volkswagen ID.4 electric SUV, with production and deliveries commencing in mid-2024.
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Q1 2024: Yokohama Rubber Co. Announces Investment in New Low Rolling Resistance Tire Market Production Line Yokohama Rubber Co. announced a significant investment to establish a new production line for low rolling resistance tires at its plant in Thailand, aiming to meet rising global demand.
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Q2 2024: Apollo Tyres Launches Low Rolling Resistance Tire Market Range for Commercial Vehicles in India Apollo Tyres launched a new range of low rolling resistance tires for commercial vehicles in India, targeting improved fuel efficiency for fleet operators.
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Q2 2024: Nokian Tyres Introduces Low Rolling Resistance Tire Market for Nordic Markets Nokian Tyres unveiled a new low rolling resistance tire designed for the Nordic climate, focusing on energy efficiency and safety in winter conditions.
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Q1 2024: Toyo Tire Corporation Opens New Facility for Low Rolling Resistance Tire Market Production in Malaysia Toyo Tire Corporation inaugurated a new manufacturing facility in Malaysia dedicated to the production of low rolling resistance tires, expanding its global supply capabilities.
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Q2 2024: Kumho Tire Partners with Hyundai to Develop Low Rolling Resistance Tires for Next-Gen EVs Kumho Tire announced a partnership with Hyundai Motor Company to co-develop low rolling resistance tires for Hyundai's next-generation electric vehicles, with prototypes expected by the end of 2024.
Intended Audience:
- Low rolling resistance tire producers
- Individual vehicle owners
- Other raw material suppliers
The low rolling resistance tire manufacturing companies are working to develop low rolling resistance tires specifically for electric vehicles as Hankook Tire developed Enfren Eco tire, which combines a special silica compound and structural design to reduce energy loss and enhance fuel efficiency for electric vehicles.
Additionally, increasing vehicle sales, aftermarket growth, lower production costs, and favorable government schemes are encouraging global players to invest heavily in this region, which is further expected to drive the market growth during the forecast period.
Low rolling resistance tires are made with a hard rubber compound and stiff sidewalls to reduce friction and flex. Some tire companies are working on developing the advanced tire material combinations with new tire compounds, such as those based on silica and alternative oils to achieve good rolling-resistance properties while maintaining a pleasant ride and better grip.
Such tires are designed to have low tire rolling resistance with the help of improved tire thread design without affecting skid and tread abrasion resistance, traction and other aspects of tire performance that are vital to the operating smoothness, as well as they are designed to reduce the noise generated by the tire and ultimately improve the vehicle fuel efficiency.
In 2010, Japan began implementing a voluntary tire labeling system for passenger cars. Similarly, the South Korean government initiated a voluntary tire-labeling program for passenger cars in November 2011, which was then made compulsory in November 2012. Furthermore, in November 2016, South Korea started implementing mandatory tire labeling regulations such government regulations regarding tire labelling is expected to further boost the growth of the low rolling resistance tire market.
Low rolling resistance tire manufacturers, considering the potential of the commercial vehicles, have started focusing on them by investing in the development of tread compounds that can reduce tire rolling resistance while maintaining the treadwear and durability of truck tires. For instance, The Goodyear Tire & Rubber Company is developing low rolling resistance tires that provide maximum fuel saving with low heat generation and low rolling resistance for long-haul applications. In 2018, it planned to launch its most fuel-efficient tire range.
According to the data provided by the company, these new tires are manufactured using a silica compound that can help save a 100-vehicle fleet more than USD 338,000 in fuel costs, annually, and help truck manufacturers meet future emission targets. Thus, the rise in demand for low rolling resistance tires, especially within fleets, is an opportunity for low rolling resistance tires during the forecast period.
The Market Research Future report on the global low rolling resistance tire industry covers extensive primary research. This is accompanied by a detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historical and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market.
The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.
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