A Global Automotive Winter Tire Market Size study & Forecast, by Rim size (12"-17", 18"-21", >22") By Tire Type (Studded, Studdles) By Distribution channel (OEM

Global Automotive Winter Tire Market Size study & Forecast, by Rim size (12-17, 18-21, >22) By Tire Type (Studded, Studdles) By Distribution channel (OEM, Aftermarket) By Vehicle Type (Two-wheelers, Commercial vehicles, Passenger Cars) and Regional Analysis, 2023-2030

Global Automotive Winter Tire Market is valued approximately USD xxx billion in 2022 and is anticipated to grow with a healthy growth rate of more than xxx% over the forecast period 2023-2030. Automotive winter tires, also known as snow tires or cold weather tires, are specifically designed for use in winter conditions. They are made with a softer rubber compound than all-season or summer tires, which allows them to maintain flexibility in cold temperatures and provide better traction on snow and ice. The Automotive Winter Tire market is expanding because of factors such as increasing demand for commercial and passenger automotive and growing number of commercial import-export activities. Winter tires also have deeper and more aggressive tread patterns, with special features such as sipes and biting edges that help to grip the road surface. Some winter tires also come with metal studs that can further enhance traction on icy surfaces. Its importance has progressively increased during the last few decades.

According to the Statista, China remained to be the world's largest market for the sales of passenger cars in 2022, with around 23.56 million units sold. Furthermore, in 2021, the globe manufactured about 23.24 million large buses, light commercial vehicles, and trucks. Around 80% of all commercial vehicles manufactured in that year were light commercial vehicles. Another important component driving space increase is number of commercial import-export activities. As per Statista, in 2021, the export value of all commercial services worldwide totaled almost USD 6 trillion. In that year, global transportation service exports amounted to over USD 1 trillion. In addition, in 2021, travel services accounted for approximately 11% of the global imports of commercial service and Transportation services accounted for almost one quarter of the global imports of commercial services in 2021. Also, increasing safety awareness among consumers and growing disposable income would create a lucrative growth prospectus for the market over the forecast period. However, the high cost of Automotive Winter Tire stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Automotive Winter Tire Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the rising technological advancement in tire industry. According to the Statista, in 2021, the United States tire manufacturing sector's gross output came to almost USD 17 billion. Europe is expected to grow significantly during the forecast period, owing to rapid changes in atmospheric conditions in the market space.

Major market player included in this report are:

Bridgestone Corporation,
Continental AG,
Nexen Tire Corporation,
Sumitomo Rubber Industries,
The Goodyear Tire & Rubber Company,
Pirelli & C.S.p.A.,
The Yokohoma Rubber Co.,
MICHELIN, Hankook Tire,
Toyo Tire & Rubber Co.,
Cheng Shin Rubber Ind. Ltd.,

Recent Developments in the Market:
 In April 2023, Continental AG is expanding its EV charging infrastructure at three company-owned test sites in Arvidsjaur (Sweden), Jeversen (Germany) and Uvalde (USA). This significant move will enable the premium tyre manufacturer to accelerate its testing capabilities and aid the development of tyres for next generation EVs.

Global Automotive Winter Tire Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered - Rim size, Tire Type, Distribution Channel, Vehicle Type, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Rim size
12-17
18-21
>22

By Tire Type
Studded
Studdless

By Distribution channel
OEM
Aftermarket

By Vehicle Type
Two-wheelers
Commercial vehicles
Passenger Cars

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Bridgestone Corporation,
Continental AG,
Nexen Tire Corporation,
Sumitomo Rubber Industries,
The Goodyear Tire & Rubber Company,
Pirelli & C.S.p.A.,
The Yokohoma Rubber Co.,
MICHELIN, Hankook Tire,
Toyo Tire & Rubber Co.,
Cheng Shin Rubber Ind. Ltd.,

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