Automotive Winter Tire Market

To have an edge over the competition by knowing the market dynamics and current trends of “Automotive Winter Tire Market”, request for Sample Report here

Market Dynamic

Key Drivers and Emerging Trends

The key factor driving the growth of the global automotive winter tire market is the various advantages offered by winter tires, such as better grip or adherence on ice or snow, reduced fuel consumption, good traction, reduced braking distance on wet roads, and improved safety compared to summer tires. In addition to this, the increase in the sales of automobiles in countries with cold climate is further driving the growth of the market. Countries with cold climate are making the use of winter tires mandatory for safety concerns and better fuel efficiency. For instance, in British Columbia, the government has mandated the use of winter tires by law from October 1 to April 30 for certain highways. The growing awareness among consumers for their safety, coupled with the discounts offered on premium by many insurance companies for vehicles equipped with winter tires are further surging the growth of the global automotive winter tire market.

With vehicles becoming more of a requirement instead of a luxury product and increasing disposable income is further creating demand for automobile for both personal as well as commercial uses. In many countries with cold conditions, there are stringent norms regarding the use of winter tires to improve safety of people. All these factors play a crucial role in surging the growth of the global automotive winter tire market.

Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report

Stud- Segment Analysis

Based on the stud, the market is segmented into studdless and studded. The studdless segment is expected to grow at a higher CAGR over the forecast period. The studded winter tires are embedded with metal studs which damage roads in non-winter season whereas studdless tires have advance rubber with increased tread to run a vehicle on a road covered with snow. Studdless winter tires have deep tread depths than summer or all-season tires, which enables the tire to manage snow and slush dispersion from under the tire. This is one of the significant feature surging the growth of the studdless segment in the global automotive winter tire market.

Growing usage of non-studded winter tires as they can work as effectively as studded tires and continuous technological developments will augment the Automotive Winter Tire Market Size

Vehicle Type- Segment Analysis

Based on the vehicle type, the market is segmented into two-wheelers, passenger cars, and commercial vehicles. The passenger cars segment is anticipated to grow at a faster CAGR over the forecast period. This is attributed to the growing sales of passenger cars equipped with winter tires as the awareness regarding the benefits of winter tires is increasing. In addition to this, the rising concerns among consumers related to their safety is providing substantial boost to the growth of the passenger cars segment in the global automotive winter tire market.

In case, any of your pain points areas are not covered in the current scope of this report, Request for Free Customization here

Regional – Segment Analysis:

Based on the region, Europe region is expected to grow at a higher CAGR over the forecast period. This is mainly due to the high presence of snowy regions in Poland, Finland, Norway, Iceland, Sweden, UK, and Russia. These countries have offered various incentives and have imposed certain regulations and policies for the adoption of winter tires. For instance, winter tires are mandatory from 1^st December to the end of February in Finland, which is also a major factor propelling the growth of the automotive winter tire market in the country.

Europe is projected to dominate the market over the forecast period, owing to the strict norms enforced by the European government. In addition, the technological innovation to encourage the adoption of these tires to ensure an effective transportation system will expand the market growth. Severe weather conditions and condensed roads is likely to expand the Automotive Winter Tire Market share.

Top Market Players

Various notable players operating in the market include Bridgestone Corporation, Nexen Tire, Continental AG, The Goodyear Tire & Rubber Company, Sumitomo Rubber Industries, The Yokohama Rubber Co., Ltd., Pirelli & C. S.p.A, Toyo Tire Corporation, CST, and Giti Tire, among others. 

Key Developments:

• • In 2022, Bridgestone launched tyre that can run 80km even after a puncture. This new range comes with run-flat technology and offers a reliable performance in in wet and winter conditions.
  • In 2022, Goodyear Tire & Rubber decided the launch of all-season tires portfolio expansion.
  • In 2020, Nexen Tire launched its new product, named as WINGUARD winSpike 3 tires. These tires have been created for optimal performance in cold regions with severe winters. It comes with Nexen’s unique 3D Kerf technology to enhance performance on ice and snow surfaces.
  • In 2020, The Goodyear Tire & Rubber Company launched WinterCommand Ultra Tire, which demonstrates exceptional performance on snow and ice surfaces. These premium studless tires come in 50 sizes and provide optimal grip for drivers to maximize traction and increase starting and stopping power in extreme winter driving conditions.
  • In 2019, Bridgestone Corporation announced the launch of the Blizzak WS90 tire, which is the latest addition to its Blizzak winter tire product line. It features the newest advancements in the Bridgestone winter tire technology to offer drivers confident control and handling.

Segments covered in the Report:

The global automotive winter tire market has been segmented on the basis of rim size, stud, sales channel, vehicle type and regions. Based on rim size, the market is segmented into 13 – 15, 16 – 18, 19 – 21, and above 21. Based on stud, the market is segmented into studded and studdless. Based on sales channel, the market is segmented into aftermarket and OEM. Based on vehicle type the market is segmented into two-wheelers, passenger cars, and commercial vehicles. 

For detailed scope of the “Automotive Winter Tire Market” report request a Sample Copy of the report

Key questions answered in this research report:

• • At what pace is global automotive winter tire market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in automotive winter tire market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global automotive winter tire market?
  • Which rim size generated maximum revenues in 2019 and identify the most promising rim size during the forecast period?
  • What are the various stud areas of global automotive winter tire market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Rim Size, By Stud, By Sales Channel, By Vehicle Type, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Bridgestone Corporation, Nexen Tire, Continental AG, The Goodyear Tire & Rubber Company, Sumitomo Rubber Industries, The Yokohama Rubber Co., Ltd., Pirelli & C. S.p.A, Toyo Tire Corporation, CST, Giti Tire, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Automotive Winter Tire Market by Rim Size

• • 13 – 15
  • 16 – 18
  • 19 – 21
  • Above 21

Global Automotive Winter Tire Market by Stud

• • Studded
  • Studdless

Global Automotive Winter Tire Market by Sales Channel

• • Aftermarket
  • OEM

Global Automotive Winter Tire Market by Vehicle Type

• • Two-wheelers
  • Passenger Cars
  • Commercial Vehicle

Global Automotive Winter Tire Market by Region

• • North America Automotive Winter Tire Market (Option 1: As a part of the free 25% customization)
    • By Rim Size
    • By Stud
    • By Sales Channel
    • North America Market by Vehicle Type
    • US Market All-Up
    • Canada Market All-Up
  • Europe Automotive Winter Tire Market (Option 2: As a part of the free 25% customization)
    • By Rim Size
    • By Stud
    • By Sales Channel
    • By Vehicle Type
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Automotive Winter Tire Market (Option 3: As a part of the free 25% customization)
    • By Rim Size
    • By Stud
    • By Sales Channel
    • By Vehicle Type
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Automotive Winter Tire Market (Option 4: As a part of the free 25% customization)
    • By Rim Size
    • By Stud
    • By Sales Channel
    • By Vehicle Type
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Automotive Winter Tire (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Bridgestone Corporation
  • Nexen Tire
  • Continental AG
  • The Goodyear Tire & Rubber Company
  • Sumitomo Rubber Industries
  • The Yokohama Rubber Co., Ltd.
  • Pirelli & C. S.p.A
  • Toyo Tire Corporation
  • CST
  • Giti Tire