Mark Twain's blog : Automotive Winter Tire Market Research Report
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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Report on Automotive Winter Tire
Market
Introduction of the Automotive Winter Tire Market
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
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