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NEW YORK , April 22, 2022 /PRNewswire/ --
Tire-Derived Fuel Market Facts at a Glance-
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The Tire-Derived Fuel Market size is expected to increase by USD 80.63 million from 2021 to 2026, at an accelerated CAGR of 3.78% as per the latest market report by Technavio. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenarios, future market trends, market size & estimations, and major investment pockets. 71% of the market's growth will originate from APAC during the forecast period. China, Japan , India , and Russia are the key markets for tire-derived fuel in APAC. Market growth in this region will be faster than the growth of the market in other regions. The significant increase in sales of automotive vehicles and the subsequent generation of stockpiles of tires over the years will facilitate the tire-derived fuel market growth in APAC over the forecast period.
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The Tire-Derived Fuel Market is fragmented, and the vendors are deploying growth strategies such as focusing on product delivery through multiple distribution channels to compete in the market.
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Latest Drivers & Trends Driving the Market-
The key factor driving the global tire-derived fuel market growth is the advances in tire recycling technologies. Stringent regulations are being undertaken to comply with the Paris Agreement. On average, EVs emit half the amount of GHGs as compared to conventional vehicles. In order to further promote the sales of EVs, governments in several countries like China and the US are setting objectives and giving incentives in the form of monetary and non-monetary benefits. According to the IEA, China has set a target of launching five million EVs by 2020, inclusive of 4.6 million passenger light-duty vehicles and 0.2 million buses for public transport. On the other hand, India has also set a target to achieve 30% EV sales by 2030. These factors have boosted the demand for EVs and HEVs globally, which will fetch more end-of-life tires during the forecast period, which can be converted as fuel. Such factors will positively impact the market during the forecast period.
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Accelerate at a CAGR of 3.78%
Leading companies, competitive strategies, consumer engagement scope
CH2E, Emanuel Tire LLC, Front Range Tire Recycle Inc., Globarket Tire Recycling LLC, Lakin Tire, Liberty Tire Recycling LLC, L and S Tire Co., MS Tire Recycling LLC, Ragn-Sells Group, Reliable Tire Disposal, Renelux Cyprus Ltd., ResourceCo Pty Ltd., Scandinavian Enviro Systems AB, Tire Disposal and Recycling Inc., Tyrec Ltd., and West Coast Rubber Recycling Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period.
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About Us Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com/
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