The global demand for Automotive Winter Tire Market is presumed to reach the valuation of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% during the period of 2022-2028.
Automotive winter tires or snow tires are special tires designed for use on ice and snow. They are different from conventional tires due to their treaded design with larger gaps to increase snow and ice traction and avoid slippage. These tires' treads are designed with engineered grooves, channels, and biting edges to dig into snow and push water away from the tire's contact patch. The tread rubber excels when the ambient temperature drops below 7 degrees Celsius. Some snow tires are equipped with metal or ceramic studs to improve grip. These tires come in different shapes and sizes to fit all vehicles, and the price depends at least partially on the size required.
Market Dynamics
The increase in automobiles' demand in countries with freezing winter months will be the main driving force for this market's growth. Government initiatives to make winter tires mandatory in all countries with freezing climates for enhanced safety and fuel efficiency will further propel the market growth. The manufacture of snow tires with better stopping power, handling capacity, and environmental friendliness have benefited this market's growth. High disposable income among the global population and the discount offered on insurance premiums for vehicles equipped with winter tires will boost the market growth. The various drawbacks of winter tires hampering the market growth are squishy, imprecise handling offered by these tires, and their negative impact on the roads.
The report covers Porter's Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of automotive winter tire.
Market Segmentation
The entire automotive winter tire market has been sub-categorized into stud presence, sales channel and vehicle type. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By Stud Presence
By Sales Channel
By Vehicle Type
- Passenger Cars
- Light Motor Vehicles
- Heavy Motor Vehicles
Regional Analysis
This section covers regional segmentation which accentuates on current and future demand for automotive winter tire market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Automotive Winter Tire Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the automotive winter tire market include Bridgestone Corporation, Cooper Tire & Rubber Company, Hangzhou Zhongce Rubber CO., Ltd., Cheng Shin Rubber Ind. Co., Ltd., Continental Aktiengesellschaft, Nexen Tire Corporation, Nokian Tyres plc, Pirelli & C. S.p.A., Sumitomo Rubber Industries, Ltd. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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