Report Description Table of Contents The low rolling resistance tire market was worth USD 12.5 billion in 2023 and will be worth USD 21 billion by 2030, growing at a CAGR of 6.7% during the forecast period. The driving force for the low rolling resistance tire market is the increasing global awareness of fuel efficiency and concern for carbon emissions in the automobile industry. Reduced rolling resistance tires can deliver between 5 and 7% better fuel economy – a massive boon for motorists and company car fleets alike. For instance, the use of such tires in EVs increases the car’s range by up to 10%, translating to significantly important in today’s fast-growing EV market. Recent developments include Michelin’s introduction of the e.Primacy Tire, designed specifically for electric and hybrid vehicles, claims it offers the lowest rolling resistance in its class. Furthermore, regulatory authorities in certain locations, such as Europe, are now setting high standards for CO2 emissions; this automatically puts pressure on car makers to use these tires as standard, boosting the market. The Low Rolling Resistance Tire market has significant potential as the automobile industry focuses on environmental friendliness and electrical vehicles. The projected worldwide EV sales range between 10 million in 2023 and 27 million in 2030 necessitates low rolling resistance tires that optimize EV range and efficiency. For instance, Bridgestone recently introduced the ENLITEN technology to produce lighter tires with less rolling resistance to help vehicles reduce power consumption while still providing safety and durability. With governments across the globe increasingly tightening measures on emissions, automobile manufacturers are also installing low rolling resistance tires in a bid to satisfy these practices hence opening up more growth opportunities. Furthermore, to enhance performance and minimize the negative effect on the environment, the tire manufacturers are now directing their attention towards Research&Development of sustainable materials including silica-based compounds in the tire compounds. Market Segmentation By Vehicle Type: Passenger Cars Light Commercial Vehicles (LCVs) Heavy Commercial Vehicles (HCVs) Electric Vehicles (EVs) By Tire Type: Radial Tires Bias Tires Tubeless Tires By Application: On-road Off-road High-performance By Material: Rubber-based Silica-based Other eco-friendly compounds By Region North America US Mexico Canada Rest of North America Europe Switzerland Russia France Germany U.K Finland Turkey Netherlands Belgium Spain Italy Rest of Europe Asia Pacific India China South Korea Japan Singapore Thailand Indonesia Malaysia Philippines Australia Rest of Asia-Pacific LAMEA Brazil Argentina Uruguay Saudi Arabia Rest of LAMEA Europe leads the Low Rolling Resistance Tire Market owing to environmental regulatory norms and sustainability concerns. The European Union has set a CO2 emissions regulation for new vehicles, influencing the development of technologies like low-rolling resistance tires. Europe contributed to more than 35 percent of the overall market share in 2022 mainly attributed to the increasing use of EVs besides the government initiatives supporting energy-efficient technologies. For instance, Continental AG has recently launched its EcoContact 6 tires in Europe, which have up to 15% lower rolling resistance from prior models planned to boost fuel economy and EV range. Moreover, with the new EU Green Deal and the target of the EU to achieve net-zero CO2 emissions by 2050 at the latest, developments in tire material and specialized tire designs for Europe are more important as part of market reinforcement. Key Players Michelin Bridgestone Corporation Continental AG Goodyear Tire & Rubber Company Pirelli & C. S.p.A. Yokohama Rubber Co., Ltd. Hankook Tire & Technology Co., Ltd. Sumitomo Rubber Industries, Ltd. Nokian Tyres plc Toyo Tire Corporation Frequently Asked Question About This Report . Table of Contents 1. LOW ROLLING RESISTANCE TIRE MARKET – PRODUCTION VOLUME BY REGION, (2024 – 2030) 1.1. North America 1.2. Europe 1.3. Asia Pacific 1.4. Latin America 1.5. Middle East & Africa 2. LOW ROLLING RESISTANCE TIRE MARKET – REVENUE ($MILLION), BY REGION, (2024 – 2030) 2.1. North America 2.2. Europe 2.3. Asia Pacific 2.4. Latin America 2.5. Middle East & Africa 3. MARKET SHARE ANALYSIS – LOW ROLLING RESISTANCE TIRE MARKET 3.1. Top 20 Players with Product Mix, Revenue, and Sales Volume 3.2. Market Share, 2023 3.3. Market By Vehicle Type of LOW ROLLING RESISTANCE TIRE and End-Use Outlook Analysis 4. HISTORIC TRENDS IN LOW ROLLING RESISTANCE TIRE MARKET 5. EMERGING MARKET TRENDS 6. NORTH AMERICA LOW ROLLING RESISTANCE TIRE MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 6.1. North America LOW ROLLING RESISTANCE TIRE Historical Market ($MILLION), (2017 – 2023) 6.2. North America LOW ROLLING RESISTANCE TIRE Market ($MILLION) and Forecasts (2024 – 2030) 6.3. North America LOW ROLLING RESISTANCE TIRE Market Type ($MILLION), and Forecasts (2024 – 2030), By Vehicle Type 6.3.1. Passenger Cars 6.3.2. Light Commercial Vehicles (LCVs) 6.3.3. Heavy Commercial Vehicles (HCVs) 6.3.4. Electric Vehicles (EVs) 6.4. North America LOW ROLLING RESISTANCE TIRE Market Type ($MILLION), and Forecasts (2024 – 2030), By Application 6.4.1. On-road 6.4.2. Off-road 6.4.3. High-performance 6.5. North America LOW ROLLING RESISTANCE TIRE Market Type ($MILLION), and Forecasts (2024 – 2030), By Tire Type 6.5.1. Radial Tires 6.5.2. Bias Tires 6.5.3. Tubeless Tires 6.6. North America LOW ROLLING RESISTANCE TIRE Market Type ($MILLION), and Forecasts (2024 – 2030), By Material 6.6.1. Rubber-based 6.6.2. Silica-based 6.6.3. Other eco-friendly compounds 6.7. North America LOW ROLLING RESISTANCE TIRE Market Type ($MILLION), and Forecasts (2024 – 2030), By Geography 6.7.1. USA 6.7.2. Canada 6.7.3. Rest of North America 7. USA LOW ROLLING RESISTANCE TIRE MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 8. EUROPE LOW ROLLING RESISTANCE TIRE MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 8.1. Europe LOW ROLLING RESISTANCE TIRE Historical Market ($MILLION), (2017 – 2023) 8.2. Europe LOW ROLLING RESISTANCE TIRE Market ($MILLION) and Forecasts (2024 – 2030) 8.3. Europe LOW ROLLING RESISTANCE TIRE Market Type ($MILLION), and Forecasts (2024 – 2030), By Vehicle Type 8.4. Europe LOW ROLLING RESISTANCE TIRE Market Type ($MILLION), and Forecasts (2024 – 2030), By Application 8.5. Europe LOW ROLLING RESISTANCE TIRE Market Type ($MILLION), and Forecasts (2024 – 2030), By Tire Type 8.6. Europe LOW ROLLING RESISTANCE TIRE Market Type ($MILLION), and Forecasts (2024 – 2030), By Material 8.7. Europe LOW ROLLING RESISTANCE TIRE Market Type ($MILLION), and Forecasts (2024 – 2030), By Geography 8.7.1. Germany 8.7.2. France 8.7.3. UK 8.7.4. Italy 8.7.5. Spain 8.7.6. Rest of Europe 9. APAC LOW ROLLING RESISTANCE TIRE MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 9.1. APAC LOW ROLLING RESISTANCE TIRE Historical Market ($MILLION), (2017 – 2023) 9.2. APAC LOW ROLLING RESISTANCE TIRE Market ($MILLION) and Forecasts (2024 – 2030) 9.3. APAC LOW ROLLING RESISTANCE TIRE Market Type ($MILLION), and Forecasts (2024 – 2030), By Vehicle Type 9.4. APAC LOW ROLLING RESISTANCE TIRE Market Type ($MILLION), and Forecasts (2024 – 2030), By Application 9.5. APAC LOW ROLLING RESISTANCE TIRE Market Type ($MILLION), and Forecasts (2024 – 2030), By Tire Type 9.6. APAC LOW ROLLING RESISTANCE TIRE Market Type ($MILLION), and Forecasts (2024 – 2030), By Material 9.7. APAC LOW ROLLING RESISTANCE TIRE Market Type ($MILLION), and Forecasts (2024 – 2030), By Geography 9.7.1. China 9.7.2. Japan 9.7.3. South Korea 9.7.4. India 9.7.5. Australia 9.7.6. Rest of APAC 10. LATIN AMERICA LOW ROLLING RESISTANCE TIRE MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 10.1. Latin America LOW ROLLING RESISTANCE TIRE Historical Market ($MILLION), (2017 – 2023) 10.2. Latin America LOW ROLLING RESISTANCE TIRE Market ($MILLION) and Forecasts (2024 – 2030) 10.3. Latin America LOW ROLLING RESISTANCE TIRE Market Type ($MILLION), and Forecasts (2024 – 2030), By Vehicle Type 10.4. Latin America LOW ROLLING RESISTANCE TIRE Market Type ($MILLION), and Forecasts (2024 – 2030), By Application 10.5. Latin America LOW ROLLING RESISTANCE TIRE Market Type ($MILLION), and Forecasts (2024 – 2030), By Tire Type 10.6. Latin America LOW ROLLING RESISTANCE TIRE Market Type ($MILLION), and Forecasts (2024 – 2030), By Material 10.7. Latin America LOW ROLLING RESISTANCE TIRE Market Type ($MILLION), and Forecasts (2024 – 2030), By Geography 10.7.1. Brazil 10.7.2. Argentina 10.7.3. Rest of Latin America 11. COMPANY PROFILES: 11.1. MICHELIN 11.1.1. Company Overview 11.1.2. Company Snapshot 11.1.3. Operating business segments 11.1.4. Product offered and Revenue 11.1.5. Production & Sales 11.2. Bridgestone Corporation 11.3. Continental AG 11.4. Goodyear Tire & Rubber Company 11.5. Pirelli & C. S.p.A. 11.6. Yokohama Rubber Co., Ltd. 11.7. Hankook Tire & Technology Co., Ltd. 11.8. OTHER MARKET PLAYERS