Green Tires Market Share

The Europe green tires market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2037.The growth of the market can be attributed to the presence of a strong healthcare network in the region, growing investment in a sustainable transport system, rising awareness among the government agencies for the green economy, and most importantly to the usage of silica in tire treads. For instance, in the Netherlands, all new buses will use 100% renewable energy from 2025 onwards while all buses have to become fully emission-free from 2030. The green technology trend has also been quickly adopted in the North American region, where the market for green tires is currently second after Europe. Further, the presence of leading automotive manufacturers such as Mercedes, BMW, Audi, Volkswagen, Ford, and GM in these two regions, promotes the market players to opt for easy transport and supply, which is anticipated to contribute to the green tires market growth in the region.