Market Research Future (MRFR) has launched a new release on the global COVID-19 impact on Low Rolling Resistance Tire Market. The report presents a thorough overview of the global [FURL=https://www.marketresearchfuture.com/reports/low-rolling-resistance-tire-market-8277]COVID-19 impact on Low Rolling Resistance Tire Market [/FURL] on the back of a detailed analysis of the market’s historical growth trajectory and leading segments. The market’s historical growth trajectory is assessed in detail in the report in order to understand the major factors underlying the market’s growth in the study period.Market Synopsis:
Low rolling resistance tire offers any of the mentioned benefits of improved durability, grip, noise reduction, improve fuel efficiency, reduced carbon emission, or all in combination. These tires are designed with improved thread structure to have reduced rolling resistance of tire with road and are made up of low rolling resistance materials or compounds, such as silica, special synthetic rubbers, and soybean. Therefore, tires involve such advantages without compromising on safety in terms of road grip and CO2 emission while being fuel-efficient.
The global COVID-19 impact on Low Rolling Resistance Tire Market is expected to witness ~15.85% CAGR during the forecast period and the market size is expected to reach USD16.8 Billion by 2025.
The global low rolling resistance tires market is segmented based on application, vehicle type, sales channel and region. The market is segmented based on application as on-road and off-road. The global market has been segmented on the basis of vehicle type as two-wheeler, passenger car, light commercial vehicle, heavy commercial vehicle, and others. On the basis of sales channel, the global market has been segmented into OEM and aftermarket. On the basis of region, the global market for low rolling resistance tire is segmented into Europe, North America, Asia-Pacific, and the rest of the world.
The market is driven by factors such as the government regulations regarding tire labeling, increase in demand for fuel-efficient tires, rising environmental awareness, and growth of the aftermarket. However, the market growth is hindered by the high price of the low rolling resistance tires.
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Market Research Analysis
In terms of region, the global market for low rolling resistance tire is segmented into North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific is expected to witness the highest CAGR in the global COVID-19 impact on Low Rolling Resistance Tire Market.
Furthermore, Europe is expected to hold largest market share in global COVID-19 impact on Low Rolling Resistance Tire Market during the forecast period.
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