Winter Tire Market was valued US$ 20.14 Bn. in 2019 and is estimated to reach US$ XX Bn by 2027 at a CAGR of about XX %.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Global Winter Tire Market Dynamics:
Winter tires are made from advanced rubber compounds occupying unique tread patterns in order to increase traction while driving on snow and ice. The major factors boosting the growth of Winter Tires market is increasing growth of the automobile industry, particularly in countries with cold climates. Growing concern for safety is fuelling the demand for winter tires. Increase in vehicle sales in Nordic countries is also boosting the demand for winter tires. Countries in Central Europe such as Austria and Croatia have made the incorporation of winter tires mandatory.
Countries that experience cold winters but little or no snow are anticipated to witness a demand of winter tires in the near future in order to improve safety of the vehicle. Winter tires is a niche market and is restricted to cold regions, thus acting as a hindering factor for the expansion of the market. The Global Winter Tire Market dynamics are thoroughly studied and explained in the report, which helps reader to understand emerging market trends, drivers, restraints, opportunities, and challenges at global and regional level for the Global Winter Tire Market.
Global Winter Tire Market is studied by Various Segments:
The report from Maximize market research provides the detail study of the market by various segments. Winter tire market is segmented into product type, sales channel, vehicle type, and region. On the basis of tire type, the Stud less tire segment is expected to expand at a prominent growth rate during the forecast period. Studded tires are banned in number of states in the U.S. and in most the countries in Central Europe such as Luxembourg, Croatia, and the Czech Republic, as they damage roads and also generate dust. Based on vehicle type, the winter tire market can be categorized into passenger vehicle, light commercial vehicle, and heavy commercial vehicle. The passenger vehicle segment holds a prominent share of the winter tire market and is projected to dominate the market during the forecast period. The increased adoption of passenger vehicle makes this segment crucial for the winter tire market.
Region wise Market Analysis & Forecast:
The report covers a geographic breakdown and a detailed analysis of each of the before said segments across North America, Europe, Asia Pacific, and LAMEA, and each countries under it –
• North America
Rest of Europe
• Asia Pacific
Rest of Asia-Pacific
In terms of region, Europe is a significant market for winter tires market followed by North America. Canada have high demand for winter tires in North America, and is anticipated to remain a prominent market through the forecast period. Further, China is anticipated to emerge as another important market for winter tire manufacturers due to rise in demand for vehicles in the countries cold regions.
Key Players Profiled and Analyzed in the Report are Bridgestone Corporation, Nokian Tyres plc, Continental AG, Nexen Tire Corporation, Sumitomo Rubber Industries, Ltd., The Yokohoma Rubber Co., The Goodyear Tire & Rubber Company, Pirelli & C.S.p.A., Hangzhou Zhongce Rubber Co., Ltd., Ltd., MICHELIN, Hankook Tire, Toyo Tire & Rubber Co., Ltd., Kumho Tire Co., Inc., Cheng Shin Rubber Ind. Ltd., Giti Tire, and Cooper Tire & Rubber Company.
Global Winter Tire Market: Competition Landscape
The Global Winter Tire Market has the presence of a large number of players. Major players in the Global Winter Tire Market are concentrating on developing new technologies to facilitate the industry with lowest time and low expenditure consuming technologies. In the recent years there are many discoveries in the field of technologies with regards to Global Winter Tire Market, which in turn will help the industry to grow resulting in boost to the competition too. Detailed analysis of competition, new entrants, strategic alliances, mergers and acquisition in the Global Winter Tire Market is covered in the report. The report covers the market leaders and followers in the industry with the market dynamics by region.
It will also help to understand the position of each player in the market by region, by segment with their expansion plans, R&D expenditure and organic & in-organic growth strategies. Long term association, strategic alliances, supply chain agreement and mergers & acquisition activities are covered in the report in detail from 2014 to 2019. Expected alliances and agreement in forecast period will give future course of action in the market to the readers. All major & important players are profiled, benchmarked in the report on different parameters that will help reader to gain insight about the market in minimum time.
Objective of the Report:
The objective of the report is to present a comprehensive analysis of Global Winter Tire Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report.
External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Winter Tire Market dynamics, structure by analyzing the market segments and project the Global Winter Tire Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Winter Tire Market make the report investor’s guide.
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Scope of the Winter Tire Market
Winter Tire Market, by Tire Type
Winter Tire Market, by Sales Channel
Winter Tire Market, by Vehicle Type
• Passenger Vehicle
• Light Commercial Vehicle
• Heavy Commercial Vehicle
Winter Tire Market, by Geography
• North America
• Middle East & Africa
• Latin America
Key Players in Winter Tire Market
• Bridgestone Corporation
• Nokian Tyres plc
• Continental AG
• Nexen Tire Corporation
• Sumitomo Rubber Industries, Ltd.
• The Yokohoma Rubber Co.
• The Goodyear Tire & Rubber Company
• Pirelli & C.S.p.A.
• Hangzhou Zhongce Rubber Co.
• Hankook Tire
• Toyo Tire & Rubber Co., Ltd.
• Kumho Tire Co., Inc.
• Cheng Shin Rubber Ind. Ltd.
• Giti Tire
• Cooper Tire & Rubber Company
• N.V. Apollo Vredestein BeLux S.A.
• Hangzhou Zhongce Rubber CO., LTD.
This Report Is Submitted By : Maximize Market Research Company
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