Global Winter Tire Market Segments 2024, Forecast To 2033
5 Mar, 2024
The winter tire market size witnessed strong growth, increasing from $23.47 billion in 2023 to $24.84 billion in 2024, achieving a 5.9% CAGR. The expansion is attributed to seasonal demand and safety concerns. The market is poised for further growth, reaching $31.08 billion in 2028, maintaining a 5.8% CAGR, driven by climate change impact and online tire sales. Key trends involve sustainability and advancements in tire technology.
Global Winter Tire Market Key Driver
The winter tires market is witnessing growth with the rising growth of the automotive industry. The automotive sector, covering vehicle design, manufacturing, and maintenance, has experienced a 7.4% increase in the UK's car production in November 2022. Winter tires, essential for extreme weather conditions, are in demand, driven by safety concerns and fuel efficiency in cold climates.
Get A Free Sample Of The Global Winter Tire Market ReportGlobal Winter Tire Market Segments
The winter tire market covered in this report is segmented –
1) By Product Type: Studded, Stud-Less
2) By Rim Size: 12’’- 17’’, 18’’-21’’, >22’’
3) By Vehicle Type: Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles
4) By Sales Channel: Original Equipment Manufacturers, Aftermarket
By Geography: The regions covered in the anti inflammatory therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
Europewas the largest region in the winter tire market in 2023. The regions covered in the winter tire market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Winter Tire Industry Players
Bridgestone Corporation; Apollo Tyres Limited; Continental AG; Cheng Shin Rubber Industry Co. Ltd.; Goodyear Tire and Rubber Company; Hankook Tire & Technology Co. Ltd.; Kumho Tire Co. Inc.; Madras Rubber Factory Ltd.; Maxxis International GmbH; Compagnie Générale des Établissements Michelin SCA; Nankang Rubber Tire Corp. Ltd.; Nexen Tire Corporation; Nokian Tyres plc; Pirelli & C. S.p.A; Sailun Group Co. Ltd.; Shandong Linglong Tire Co. Ltd.; Sumitomo Rubber Industries Ltd.; Toyo Tire Corporation; Triangle Group Ltd.; Yokohama Rubber Company Limited; Zhongce Rubber Group Co. Ltd.; CEAT Limited; Trelleborg AB; Cooper Tire & Rubber Co.; Giti Tire Pte Ltd.; Vredestein Tyres; Westlake Tyres; Xingyuan Tire Group Co., Ltd.; ZC Rubber Group Co. Ltd.; Zhejiang Double Arrow Rubber Co., Ltd.
Get The Full Global Winter Tire Market ReportAIOps Winter Tire Market Overview
Winter tires, often known as snow tires, are tires with construction specifically created to increase vehicle stability in colder climates and on rough roads with snow and ice.
Winter Tire Global Market Report 2023 provides data on the global winter tire market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The winter tire market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.