Global low-rolling resistance tire market forecast at $54 billion by 2033

Pune, Inda- The worldwide low-rolling resistance tire market is predicted to be worth US$ 18.4 billion in 2023 and US$ 54 billion by 2033, rising at an 11.3% CAGR according to Future Market Insights.
The increasing usage of low rolling resistance tires in light commercial vehicles (LCV) is expected to drive significant market growth throughout the forecast period. These tires are widely used by transportation authorities across the world to improve fuel efficiency by lowering rolling resistance while preserving ride safety performance and quality. Furthermore, the increasing use of LCVs, which are known for their capacity to move huge loads at rapid speeds, promotes global demand for these items.
To increase their market position, the main makers of low-rolling resistance tires focus on delivering new products that are combined with superior gripping technology. Bridgestone Corporation, for example, produces ECOPIA-reduced rolling resistance tire types particularly intended for light automobiles. These environmentally friendly designs provide great road performance, improving both safety and fuel efficiency. ECOPIA tires also help to reduce carbon dioxide emissions while minimizing rolling resistance. Major manufacturers’ increased product innovation is likely to fuel the market growth rate throughout the forecast period.
Rising worries about rising levels of car emissions are forcing major manufacturing businesses to reconsider and reformulate existing automobile production methods. The implementation of rigorous regional and worldwide emission regulatory rules has resulted in a paradigm change in automotive usage, with a focus on fuel efficiency.
The United States Department of Energy has shown that using low rolling resistance tires can save between 5 and 15% on gasoline. A 5% reduction in rolling resistance would result in a 1.5% increase in fuel efficiency for light and heavy-duty vehicles. Installing low rolling resistance tires may help businesses save money on gasoline while also ensuring optimum tire inflation. In Class 8 vehicles, for example, replacing standard dual tires with one wide-base tire can increase fuel efficiency by roughly 5% due to reduced rolling resistance.
Reducing carbon dioxide emissions is a critical aim for nations and companies as the globe fights climate change. Transforming transportation, from improving the fuel economy of existing cars, trucks, and airlines to introducing new electric vehicles and infrastructure, will play a significant role. Lowering rolling resistance in vehicles may have a major influence on fuel usage and CO2 emissions.
Rolling resistance accounts for up to one-third of a truck’s fuel usage, which is critical in the argument over reducing CO2 emissions. The more petrol a car uses, the more CO2 it releases. Without additional action, CO2 emissions from heavy-duty vehicles are expected to rise by up to 10% between 2010 and 2030, according to the European Union. Fortunately, it is feasible to minimize tire rolling resistance and hence CO2 emissions.
As governments around the world implement stringent regulations to reduce emissions, key automotive manufacturers are being compelled to introduce innovative and efficient vehicle designs, which is increasing the uptake of low rolling resistance tires across major passenger vehicles, light commercial vehicles, and heavy commercial vehicles, broadening market growth prospects.