The global low rolling resistance tire market size is anticipated to reach USD 20.5 billion in 2024. It is predicted to surge at a CAGR of 11.7% during the assessment period to reach a value of USD 55.6 billion by 2034. It is projected to exhibit a y-o-y growth of 11.4% in 2024.
Low-rolling resistance tires have been gaining more ground in the transport business. By 2024, passenger cars are estimated to constitute a 46.7% share of the low rolling resistance tire industry.
Citing OICA’s report, global vehicle production was valued at 65.3 million units with a rise of 10.3% from the previous calendar year. The boom in the production of vehicles fueled the forthcoming demand for low-rolling resistance tires, which are beneficial in resource conservation and environmental protection.
New technologies making the vehicle lighter and improving
The Low Rolling Resistance (LRR) Tire Market is witnessing strong momentum as automakers and consumers alike prioritize fuel efficiency, sustainability, and vehicle performance. These tires are engineered to reduce the energy lost as a tire rolls, resulting in improved fuel economy and reduced carbon emissions. As the push for cleaner mobility intensifies, LRR tires are becoming an essential component in both conventional and electric vehicles.
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Key Takeaways
The LRR tire market is evolving with growing adoption across passenger and commercial vehicle segments due to increasing regulatory pressure and rising environmental consciousness. Tire manufacturers are actively investing in research and materials innovation to balance low rolling resistance with safety and durability.
Key Drivers
One of the primary drivers of the market is the rising demand for fuel-efficient solutions that help reduce operating costs. Stringent fuel economy and emission regulations globally are encouraging OEMs and fleet operators to adopt LRR tires. Additionally, the growth of electric and hybrid vehicles further drives demand, as these vehicles benefit significantly from reduced energy consumption offered by LRR tires.
Growth Opportunities
With the shift toward electric vehicles, LRR tires are becoming more critical in minimizing battery consumption and extending driving range. Growth opportunities also lie in the development of advanced tire compounds and tread designs that maintain performance while enhancing efficiency. Emerging economies are expected to contribute significantly to market growth, with increasing vehicle production and environmental regulations.
Key Applications
LRR tires are widely used in passenger cars, particularly in hybrid and electric models. They are also gaining traction in commercial vehicles, where fleet operators seek to reduce total cost of ownership. Their application spans OEM fitments and the aftermarket, with growing preference from eco-conscious consumers.
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Key Players
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Bridgestone Corporation
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Michelin Group
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Continental AG
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The Goodyear Tire & Rubber Company
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Pirelli & C. S.p.A.
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Hankook Tire & Technology Co., Ltd.
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Yokohama Rubber Co., Ltd.
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Sumitomo Rubber Industries, Ltd.
These companies are at the forefront of developing next-gen LRR tire technologies through strategic partnerships, product innovation, and sustainability-driven initiatives.
Key Segmentation
By Vehicle Type
- Passenger Cars
- Commercial Vehicles
By Sales Channel
- OEM
- Aftermarket
By Tire Type
- Radial
- Bias
By Application
- Electric Vehicles
- Hybrid Vehicles
- Conventional Vehicles
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