Automotive Winter Tire Market

Global Automotive Winter Tire Market

The GMI Research expects that the Automotive Winter Tire Market will notice an augmentation in demand over the forecast period. This is mainly due to the accelerating sales of automotive, assistance to provide better traction with less consumption of fuel, and superior safety over other tires.

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Introduction of the Automotive Winter Tire Market

Winter or snow tires are specialty tires produced from sophisticated rubber compounds with specified tread design to increase resistance while driving on ice and snow. On the other hand, the Traditional tires conventionally become rigid in cold conditions and fail to offer the required traction. Modern rubber compounds and resins are employed for the production of winter tires as they are helpful to recover the imperative grip.

Key Players of Market:

· Bridgestone Corporation

· Continental AG

· The Yokohama Rubber Co., Ltd.

· Pirelli & C. S.p.A

· Toyo Tire Corporation

· CST

· Giti Tire

· Nexen Tire

· The Goodyear Tire & Rubber Company

· Sumitomo Rubber Industries

Automotive Winter Tire Market Dynamics

The factors responsible for the growth of the global automotive winter tire market include the mounting supply of automobiles in countries with cold climates and the surging consciousness among consumers for their safety. The cold climate nations have mandated winter tires for security reasons and enhanced fuel effectiveness. In addition, these tires offer enormous advantages, which include better abidance or grip on snow or ice, enhanced propulsion, less braking distance on wet roads, lower fuel consumption, and advanced safety over summer tires. For example, the British Columbian government ordered the usage of winter tires by law from October 1 to April 30 for specific highways.

Furthermore, vehicles have become a requirement rather than grandeur with the soaring per capita income, thereby stimulating demand for vehicles for personal and commercial uses. Moreover, several benefits offered by insurance companies on automotive equipped with winter tires, such as discount offers, will further bolster the global Automotive Winter Tire market size.

Stud Segment Drivers

Based on the stud, the market is divided into studded and studdless. Out of which, the studdless will experience a faster growth over the forecast period. The tires are implanted with metal studs which destruct roads in the non-winter season; contrary studdless tires have strengthened rubber with intensified tread to operate a vehicle on the road covered with snow. These tires have extensive tread depths as compared to summer or all-season tires, which allow the tires to direct snow and slush dispersion from under the tire.

Regional Drivers

On the basis of geographical coverage, Europe is predicted to expand at a faster rate over the next few years. This is because of the huge existence of snowy regions across Norway, Sweden, Poland, Finland, Iceland, the UK, and Russia. In addition, the nations have proffered several incentives and levied various norms and policies to promote the endorsement of these tires. For example, Finland has obligated the implementation of winter tires from 1st December to the end of February, which is fuelling the Automotive Winter Tire market opportunities.

Automotive Winter Tire Market Segmentation:

Segmentation by Rim Size

· 13 – 15

· 16 – 18

· 19 – 21

· Above 21

Segmentation by Stud

· Studded

· Studdless

Segmentation by Sales Channel

· Aftermarket

· OEM

Segmentation by Vehicle Type

· Two-wheelers

· Passenger Cars

· Commercial Vehicle

Segmentation by Region:

· Asia Pacific

o China

o Japan

o India

o Rest of APAC

· North America

o United States of America

o Canada

· Europe

o United Kingdom

o Germany

o France

o Spain

o Rest of Europe

· RoW

o UAE

o Brazil

o South Africa

o Saudi Arabia

About GMI Research

The consulting and market research enterprise offers syndicated and personalized research reports and consulting service to various organizations. The reports are prepared on the basis of market intelligence studies to certify that all fact-based research reaches several sectors like automotive, healthcare, FMCG, information technology & communication, etc. The deep knowledge of the organization towards the business environment helps us generate objective strategic information. Our research teams include expert analysts and researchers provide an in-depth analysis about forecasts, competitive landscape, major factors influencing the market growth, and other market acumen to assist companies in reaching a strategic decision.

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