Market Overview:
The global low rolling resistance tires (LRRT) market is estimated to be valued at US$ XX Mn in 2018 and is projected to reach US$ XX Mn by 2030, exhibiting a CAGR of X.X% during the forecast period. The market growth can be attributed to the increasing demand for fuel-efficient vehicles across the globe. The all-steel tire segment is expected to account for a major share of the LRRT market in 2018. This can be attributed to its high durability and low rolling resistance as compared with other types of tires available in the market. However, semi-steel tire segment is projected to register highest CAGR over the forecast period on account of its superior performance and lower cost as compared with all-steel tires.
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Product Definition:
Low rolling resistance tires (LRRT) are designed to minimize the amount of energy lost due to friction between the tire and the road surface. This can be important for two reasons. First, reducing energy losses means that a vehicle will use less fuel, which can save money and reduce emissions. Second, low rolling resistance tires can improve a vehicle's performance by making it easier to accelerate and brake.
All-Steel Tire:
All-steel tires are manufactured with the steel sheet as a basic raw material. The manufacturing process of these tires is different from that of the rubber-based counterparts. While making all-steel tire, the steel sheets are wound around a polymer core and then vulcanized to make them durable enough for use on roads. The major advantage associated with this product is its strength which can withstand high heat and pressure which makes it suitable for long journeys at high speeds.
Semi-Steel Tire:
The semi-steel tire is a new type of tire that uses a combination of steel and other materials such as polyester, nylon or aramid. The material gives the tires better resilience to heat and helps them recover quickly from the heat generated by braking or accelerating the vehicle. This recovery property makes it suitable for use in low rolling resistance tires (LRRT).
Application Insights:
Passenger cars were the largest application segment and accounted for a revenue share of over 70.0% in 2017. The growing importance of low rolling resistance tires as compared to their standard counterparts is expected to drive demand for LRRTs in passenger cars, thus propelling growth over the forecast period.
The LCVs segment is anticipated to witness significant growth at an estimated CAGR of XX% from 2018 to 2030 owing to rising demand for fuel-efficient vehicles, which are primarily driven by government initiatives such as EORC and LCRT in major economies such as U.S.
Regional Analysis:
Asia Pacific dominated the global market in terms of revenue with a share of over 40.0% in 2017. The region is expected to witness significant growth over the forecast period owing to increasing demand for low rolling resistance tires from key application sectors, such as passenger cars and light commercial vehicles (LCVs). This can be attributed to rising disposable income among consumers and rapid urbanization across emerging economies, such as China and India.
The growing automotive industry across Asia Pacific has resulted in increased production capacities for various automotive manufacturers, which will fuel product demand further. For instance, Bridgestone Corporation established a new tire production plant in Indonesia with an investment of USD X million in 2016 on account of high sales volumes generated by Honda Motor Company Ltd., its biggest customer. Such investments are anticipated to augment regional product consumption over the coming years.
Europe was estimated at USD X billion in 2017.
Growth Factors:
- Increasing demand for fuel-efficient vehicles: The global market for low rolling resistance tires is expected to grow at a CAGR of over 9% from 2016 to 2024, owing to the increasing demand for fuel-efficient vehicles. Stringent emission norms and rising fuel prices are prompting vehicle manufacturers to adopt low rolling resistance tires in order to improve the fuel efficiency of their vehicles.
- Rising environmental awareness: There is a growing awareness among consumers about the benefits of using low rolling resistance tires, which has led to an increase in their adoption across the globe. In addition, governments are also promoting the use of these tires through various incentive programs and regulations that mandate their use in certain applications such as commercial transportation and fleet management.
- Technological advancements: The development of new technologies has helped reduce the rolling resistance of tires, thus making them more efficient than traditional ones. This has resulted in an increase in demand for LRRTs from Original Equipment Manufacturers (OEMs) worldwide. Additionally, technological advancements have also made it possible to manufacture low rolling resistance tires that offer superior performance as compared with those available previously in the marketplaces . 4) Growing popularity of electric vehicles: Electric vehicles do not require any engine oil or coolant fluids; hence they offer lower emissions levels as well as improved fuel economy when compared with traditional internal combustion engine (ICE)-powered cars running on gasoline or diesel fuels Low Rolling Resistance Tires help further improve this performance by reducing energy losses
Scope Of The Report
Report Attributes
Report Details
Report Title
Low Rolling Resistance Tires (LRRT) Market Research Report
By Type
All-Steel Tire, Semi-Steel Tire
By Application
Passenger Cars, LCVs, Others
By Companies
Michelin, Bridgestone, Continental, Pirelli, Goodyear, Shanghai Huayi, Sumitomo Rubber Industries, ZC Rubber, Yokohama, Nokian Tyres, Michelin, Maxxis, Triangle Group, Sailun Tires, Shandong Linglong Tire Co., Ltd
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
186
Number of Tables & Figures
131
Customization Available
Yes, the report can be customized as per your need.
Global Low Rolling Resistance Tires (LRRT) Market Report Segments:
The global Low Rolling Resistance Tires (LRRT) market is segmented on the basis of:
Types
All-Steel Tire, Semi-Steel Tire
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Passenger Cars, LCVs, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Michelin
- Bridgestone
- Continental
- Pirelli
- Goodyear
- Shanghai Huayi
- Sumitomo Rubber Industries
- ZC Rubber
- Yokohama
- Nokian Tyres
- Michelin
- Maxxis
- Triangle Group
- Sailun Tires
- Shandong Linglong Tire Co., Ltd
 Market Overview.svg)
Highlights of The Low Rolling Resistance Tires (LRRT) Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- All-Steel Tire
- Semi-Steel Tire
- By Application:
- Passenger Cars
- LCVs
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Low Rolling Resistance Tires (LRRT) Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
 Market Statistics.svg)
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Low rolling resistance tires (LRRTs) are designed to reduce the amount of energy needed to move a vehicle over a surface. This can improve fuel economy and performance by reducing the amount of work required to move the vehicle.
Some of the major companies in the low rolling resistance tires (lrrt) market are Michelin, Bridgestone, Continental, Pirelli, Goodyear, Shanghai Huayi, Sumitomo Rubber Industries, ZC Rubber, Yokohama, Nokian Tyres, Michelin, Maxxis, Triangle Group, Sailun Tires, Shandong Linglong Tire Co., Ltd.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Low Rolling Resistance Tires (LRRT) Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Low Rolling Resistance Tires (LRRT) Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Low Rolling Resistance Tires (LRRT) Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Low Rolling Resistance Tires (LRRT) Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Low Rolling Resistance Tires (LRRT) Market Size & Forecast, 2020-2028
4.5.1 Low Rolling Resistance Tires (LRRT) Market Size and Y-o-Y Growth
4.5.2 Low Rolling Resistance Tires (LRRT) Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 All-Steel Tire
5.2.2 Semi-Steel Tire
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Passenger Cars
6.2.2 LCVs
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Low Rolling Resistance Tires (LRRT) Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Low Rolling Resistance Tires (LRRT) Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 All-Steel Tire
9.6.2 Semi-Steel Tire
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Passenger Cars
9.10.2 LCVs
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 All-Steel Tire
10.6.2 Semi-Steel Tire
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Passenger Cars
10.10.2 LCVs
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 All-Steel Tire
11.6.2 Semi-Steel Tire
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Passenger Cars
11.10.2 LCVs
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 All-Steel Tire
12.6.2 Semi-Steel Tire
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Passenger Cars
12.10.2 LCVs
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 All-Steel Tire
13.6.2 Semi-Steel Tire
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Passenger Cars
13.10.2 LCVs
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Low Rolling Resistance Tires (LRRT) Market: Competitive Dashboard
14.2 Global Low Rolling Resistance Tires (LRRT) Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Michelin
14.3.2 Bridgestone
14.3.3 Continental
14.3.4 Pirelli
14.3.5 Goodyear
14.3.6 Shanghai Huayi
14.3.7 Sumitomo Rubber Industries
14.3.8 ZC Rubber
14.3.9 Yokohama
14.3.10 Nokian Tyres
14.3.11 Michelin
14.3.12 Maxxis
14.3.13 Triangle Group
14.3.14 Sailun Tires
14.3.15 Shandong Linglong Tire Co., Ltd
