According to the report titled ‘North America Automotive Green Tires Market Size By Application, By Vehicle, By End-user, Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 – 2027’, available with Market Study Report, North America automotive green tires market valuation is expected to reach USD 44.5 billion by the year 2027.
 

Rising adoption of technically advanced and sustainable automotive solutions, along with increasing number of research & development projects aimed at reducing environmental pollution and greenhouse gas emissions are driving the growth of North America automotive green tires market.
 

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Further, recent rise in sales of battery electric vehicles (BEVs) and hybrid electric vehicles (HEVs), coupled with rising awareness among the consumers regarding tire generated microplastics and concerns about their health hazards on human, animal, and marine life are expected to encourage the inclination towards green tires.
 

According to a research, an average of 6.1 million tons of tire wear particles (TWPs) are generated due to mechanical abrasion caused by frequent & severe braking. These microplastics lead to cytotoxicity and unwanted immune responses.
 

For the unversed, green tires are manufactured using over 200 ingredients and approximately 20 varieties of rubber in order to achieve exceptional performance, wet grip, and handling. Being ecofriendly and fuel efficient, they are ideal for sustainable transport. With initiatives to reduce carbon footprint, automotive green tires market is expected to undergo a massive transformation.
 

North America automotive green tires industry sphere, in terms of vehicle, is classified as passenger car, commercial vehicle and others. Of these, passenger car segment is slated to record 11.5% CAGR through 2027, owing to COVID-19 pandemic, where of individuals refrain from using public transport or carpooling and opt for private vehicle for errands and daily commute.
 

Based on application, the market is bifurcated as on road and off road. Speaking of end user, the industry is segmented as original equipment manufacturers (OEMs) and aftermarket. The latter is anticipated to generate significant returns due to setup of numerous maintenance & repair facilities offering the products. Car service providers and automotive aftermarket have rapidly transitioned towards integration with e-commerce sector in order to avail the advantages.
 

Lastly, North America automotive green tire market competitive scenario is defined by the companies namely, Bridgestone Corporation, Michelin, The Goodyear Tire & Rubber Company, Hankook Tire & Technology Co. Ltd, Pirelli & C. S.p.A., Continental AG, Kumho Tire, Zhongce Rubber Group Co. Ltd., Giti Tire, and Cheng Shin Rubber Industry Co. (CST).