Reports 2029: Winter Tire Market Analysis, Trends, and Opportunities

mangesh

Feb 3, 2023 • 5 min read

Winter Tire Market Overview:

The Winter Tire Market research provides a comprehensive insight into the competition, including the market share and company profiles of the world’s biggest rivals. The research scope covers a comprehensive examination of the Winter Tire Market, as well as the causes for variances in the industry’s growth across a variety of sectors.

Winter Tire Market accounted for USD 22.44 billion in 2021 and is expected to reach USD 35.66 billion by 2029 at a CAGR of 5.96 % during the forecast period.

Market Scope:

Top-down and bottom-up approaches are used to validate market size and estimate market size by segment. The market estimations in the research are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). Weights based on usage rate and average sale price are applied to each area to generate percentage splits, market shares, and segment breakdowns. The country-wise divisions of the overall market and its sub-segments are determined by the percentage adoption or usage of the specified market Size in the relevant area or nation.

Segmentation:

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 will expand at a CAGR of 3.9% over the forecast period. In 2021, the Studless market segment accounted for roughly 43% of the overall 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.

The OEM segment is anticipated to grow at the highest CAGR based on Sales Channel during the forecast period. OEM tyres can bend and absorb impacts because they are flexible. An OEM tire's tread and sidewall function independently. OEM tyres deliver more of the vehicle's power to the ground, which increases output while lowering fuel consumption.

Because these tyres help to reduce collisions, injuries, and fatalities, the Passenger vehicles segment is anticipated to expand at a 4.9% CAGR over the forecast period. Snow tyres are necessary for human safety while driving in these conditions because they provide the best traction for passenger vehicles in cold temperatures.

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Global Winter Tire Market: Research Methodology

Global Winter Tire Market: Executive Summary

Market Overview and Definitions
Introduction to Global Winter Tire Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry

Global Winter Tire Market: Competitive Analysis

MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact

Global Winter Tire Market Segmentation

Global Winter Tire Market, by Tire Type (2021-2029)
Global Winter Tire Market, by Sales Channel (2021-2029)
Global Winter Tire Market, by Vehicle type (2021-2029)

Regional Winter Tire Market(2021-2029)

Regional Winter Tire Market, by Tire Type (2021-2029)
Regional Winter Tire Market, by Sales Channel (2021-2029)
Regional Winter Tire Market, by Vehicle type (2021-2029)
Regional Winter Tire Market, by Country (2021-2029)

Company Profile: Key players

Company Overview
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments

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Key Players:

• Bridgestone Corporation (Japan)
• Sumitomo Rubber Industries, Ltd. (Japan)
• Toyo Tire & Rubber Co., Ltd. (Japan)
• Apollo Tyres Limited (India)
• Jk Tyres (India)
• MRF Ltd (India)
• Zhongce Rubber Group Co., Ltd. (China)
• Linglong Tire (China)
• CST Tires (China)
• Triangle Group (China)
• Nexen Tire Corporation (South Korea)
• Hankook Tire (South Korea)
• Kumho Tire (South Korea)
• Giti Tire (Singapore)
• Nankang Rubber Tire (Taiwan)
• Maxxis Tires (Taiwan)
• Continental AG (Germany)
• Pirelli & C.S.p.A. (Italy)

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Primary and secondary research is used to identify market leaders, and primary and secondary research are used to calculate market revenue. In-depth interviews with important thought leaders and industry professionals such as experienced front-line staff, CEOs, and markeWinter Tireg executives were conducted as part of the primary study. Primary research comprised in-depth interviews with key thought leaders and industry professionals such as experienced front-line staff, CEOs, and markeWinter Tireg executives, while secondary research included a review of the main manufacturers’ annual and financial reports. Secondary data is used to determine percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then cross-checked with primary data.

The biggest players in the Winter Tire market are as follows:

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Regional Analysis:

Individual market influencing components and changes in market laws impacWinter Tireg current and future market trends are also covered in the Winter Tire market analysis regional overview. Current and future trends are studied in order to evaluate the overall market potential and find profitable patterns in order to get a firmer fooWinter Tireg. The geographical market evaluation is based on the current environment and anticipated trends.

COVID-19 Impact Analysis on Winter Tire Market:

End-user industries where Winter Tire are utilized saw a drop in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, and the United States, as well as Spain, France, and India, due to a halt in operations. This resulted in a significant decrease in the revenues of enterprises in these industries, as well as in demand for Winter Tire manufacturers, harming the Winter Tire market’s growth in 2020. End-user business demand for Winter Tire has decreased as a result of lockdowns and an increase in COVID-19 occurrences throughout the world.

Key Questions Answered in the Winter Tire Market Report are:

In 2021, which segment accounted for the most share of the Winter Tire market?
What is the competitive landscape of the Winter Tire market?
What are the key factors influencing Winter Tire market growth?
In the Winter Tire market, which region has the most market share?
What will be the CAGR of the Winter Tire market during the forecast period (2022-2027)?

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