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Winter Tire Market

Winter Tire Market Forecasts to 2028 – Global Analysis By Type (Studded Tier, Stud Less Tier), Vehicle Type (Passenger Vehicles, Commercial Vehicles) and By Geography

4.4 (84 reviews)
Published: November 2021 ID: SMRC21180
4.4 (84 reviews)
Published: November 2021 ID: SMRC21180

This report covers the impact of COVID-19 on this global market

According to Stratistics MRC, the Global Winter Tire Market is accounted for $19.09 billion in 2020 and is expected to reach $28.28 billion by 2028 growing at a CAGR of 5.8% during the forecast period. Rising growth in the automobile industry particularly in countries with cold climates, growing number of automobiles for both personal and commercial uses, growth of Winter Tires hand in hand with vehicle production are major factors driving the growth of the market. However, winter tires is a niche market and is restricted to cold regions is hampering the market.

Winter tires are made from advanced rubber compounds possessing unique tread patterns in order to increase traction while driving on snow and ice. The rubber tread of all-season tires or summer tires becomes stiff in cold conditions and fails to provide the required traction. Usage of advanced rubber compounds and resins in manufacturing of winter tires enables to regain the necessary traction and hence, are widely accepted in countries that experience cold climates.

By vehicle type, passenger vehicles segment is experiencing considerable market growth, due to the increased adoption of passenger vehicle makes this segment crucial for the winter tire market. Based on the geography, Europe is dominating the market during the forecast period. Due to the global leader in terms of demand for winter tires, amid presence of countries which offer several incentives and impose certain regulations for the adoption of winter tires. Eastern Europe is also a prominent region, due to presence of snowy regions of Russia and Poland.

Some of the key players profiled in the Winter Tire Market include Apollo Tyres Ltd., Bridgestone Corp., Cheng Shin Rubber Ind Co. Ltd., Continental AG, Cooper Tire & Rubber Co., Hankook Tire & Technology Co., Ltd., JSC Cordiant, Michelin Group, Nexen Tire Corp., Nokian Tyres PLC, Pirelli & C. S.p.A., PJSC Nizhnekamskshina, Sumitomo Rubber Industries Ltd., The Goodyear Tire & Rubber Co., The Kumho Tire Co.

Types Covered:
•  Studded Tier
• Stud Less Tier
    
Vehicle Types Covered:

• Passenger Vehicles
• Commercial Vehicles
                   
Regions Covered:

• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

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