Winter Tire Market accounted for USD 23.77 billion in 2022 and is expected to reach USD 35.65 billion by 2029 at a CAGR of 5.96 % during the forecast period.
Winter Tire Market Overview
The market research is based on forecasts from the Winter Tire Market key competitors as well as market statistics. Sales growth figures at global, regional and national market levels, as well as a competitive scenario for predicted periods and individual firm valuations, are all included in Winter Tire Market research. The report includes a present and estimated Winter Tire Market size and shares the factors influencing the growth of the market, which makes it a guide for investors who are wishing to invest in the market.
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Winter Tire Market Report Scope and Research Methodology
MMR’s Winter Tire Market report provides an analysis of segments and sub-segments in detail, which helps clients to understand the market structure and helps with investment planning. Extensive primary research was conducted to acquire information and verify and confirm the crucial numbers arrived at after comprehensive Winter Tire Market engineering and calculations for market statistics; market size estimations, market forecasts, market breakdown and data triangulation. The secondary data was collected from the company’s annual reports, articles, paid and free databases, etc. To estimate the regional and global Winter Tire Market size, the bottom-up approach was used. The report also includes a region-wise analysis of the Winter Tire Market size and dynamics. The SWOT analysis in the report presents strengths, weaknesses, opportunities and threats of key players in the Winter Tire Market industry.
Winter Tire Market Dynamics:
The world’s growing vehicle industry and its use, particularly in nations with cold climates, are the main factors boosting the market for winter tyres. The market for winter tyres is likely to expand in the next years as vehicle production rises along with the number of cars being used for both personal and business purposes. As consumers’ disposable incomes have grown, the demand for cars has increased, making them more of a commodity than a luxury good. This rising demand has directly impacted the expansion of the winter tyre industry.
Winter Tire Market Regional Insights
The Regional Analysis in the report helps to understand the Winter Tire Market in various countries. The report includes a detailed analysis of all the factors including drivers, restraints, opportunities and challenges in all the regions: North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
Winter Tire Market Segmentation
by Tire Type
Studded
Studless
Studded tyres are well-liked among tyre types because they include metal studs embedded in the treads that increase traction. The worst ice driving conditions can be handled by these tyres. To improve traction, studded tyres aid in breaking through ice and snow-covered roads. As a result, it is anticipated that the market for studded winter tyres would expand at a CAGR of 3.9% over the forecast period. In 2022, the Studless market category accounted for over 43% of the whole market. The surge in studless tyre demand across the globe is mostly to blame for this. In a number of European and North American countries, studded tyres are forbidden. Additionally, it is anticipated that a boom in the sales of luxury and premium vehicles will guarantee the Studless segment’s domination.
by Sales Channel
OEM
After Market
by Vehicle type
Passenger Cars
Light Motor Vehicles
Heavy Motor Vehicles
by Rim
Size 12’’-17’’
18’’-21’’
>22”
Winter Tire Market Key Players
1. Bridgestone Corporation (Japan)
2. Sumitomo Rubber Industries, Ltd. (Japan)
3. Toyo Tire & Rubber Co., Ltd. (Japan)
4. Apollo Tyres Limited (India)
5. Jk Tyres (India)
6. MRF Ltd (India)
7. Zhongce Rubber Group Co., Ltd. (China)
8. Linglong Tire (China)
9. CST Tires (China)
10. Triangle Group (China)
11. Nexen Tire Corporation (South Korea)
12. Hankook Tire (South Korea)
13. Kumho Tire (South Korea)
14. Giti Tire (Singapore)
15. Nankang Rubber Tire (Taiwan)
16. Maxxis Tires (Taiwan)
17. Continental AG (Germany)
18. Pirelli & C.S.p.A. (Italy)
19. CEAT (Italy)
20. MICHELIN (France)
21. Nokian Tyres plc (US)
22. Yokohama Tire Corporation (US)
23. The Goodyear Tire & Rubber Company (US)
24. Cooper Tire & Rubber Company (US)
25. Sailun Tires (Canada)
Key questions answered in the Winter Tire Market are:
- What was the Winter Tire Market size in 2022?
- What is the expected Winter Tire Market size by 2029?
- What are the factors driving the Winter Tire Market growth?
- What are the factors restraining the Winter Tire Market growth?
- Which trends are expected to generate additional revenue for the Winter Tire Market growth?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Winter Tire Market?
- What growth strategies are the players considering to increase their presence in the Winter Tire Market?
- Who held the largest market share in the Winter Tire Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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