Global Winter Tire Market Growth 2023-2029

Global Winter Tire Market Growth 2023-2029

Winter tires are tires designed for use in colder weather, snow and ice. Winter tires have more sipes than summer tires, increasing traction on snow and ice. Tires designed for winter conditions are optimized to drive at temperatures below 7 °C (45 °F). They are an alternative to the use of snow chains.

Winter tires are usually tires with a different rubber composition from all-weather (all-season) tires. Cold-weather tires include a greater percentage of natural rubber and silica so there is not as much hardening as found in synthetic rubber in cold conditions: they provide better traction at lower temperatures. Winter tires provide more small-tread areas, increasing traction on snow and, in wet conditions, allowing water to escape from under the tire more easily. This reduces the risk of hydroplaning. Snow/winter tires start to perform better than summer or all-season tires if temperature falls below 7C (45F), as the rubber compounds in the latter harden resulting to decreasing grip even on dry pavement Interestingly one achieves maximum grip on packed snow if the slippage/wheel spinis 40-50%, i.e. one should turn off the traction control in most modern cars for maximum traction.

Studded tires with metal pins that protrude from the tire can greatly reduce skidding and accidents on snow or ice-covered roads. In much of Scandinavia, Canada, and the US, winter tires may have metal studs to improve grip on packed snow or ice, but such tires are prohibited in certain other jurisdictions because of the damage they cause to the road surface.

A tire is a ring-shaped vehicle component that covers the wheel's rim to protect it and enable better vehicle performance. Most tires, such as those for automobiles and bicycles, provide traction between the vehicle and the road while providing a flexible cushion that absorbs shock.

The materials of modern pneumatic tires are synthetic rubber, natural rubber, fabric and wire, along with carbon black and other chemical compounds.

LPI (LP Information)' newest research report, the “Winter Tire Industry Forecast” looks at past sales and reviews total world Winter Tire sales in 2022, providing a comprehensive analysis by region and market sector of projected Winter Tire sales for 2023 through 2029. With Winter Tire sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Winter Tire industry.

This Insight Report provides a comprehensive analysis of the global Winter Tire landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Winter Tire portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Winter Tire market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Winter Tire and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Winter Tire.

The global Winter Tire market size is projected to grow from US$ 12180 million in 2022 to US$ 14060 million in 2029; it is expected to grow at a CAGR of 14060 from 2023 to 2029.

Global Winter Tire key players include Nokian Tyres, Apollo, Hankook, Goodyear, etc.

Europe is the largest market, followed by Russia, and North America.

In terms of product, Studless is the largest segment, with a share over 65%. And in terms of application, the largest application is Passenger tires, followed by Light truck/SUV tires, etc.

This report presents a comprehensive overview, market shares, and growth opportunities of Winter Tire market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
Studded
Studless

Segmentation by application
Passenger Tires
Light Truck/SUV Tires
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Bridgestone
Michelin
Continental
Goodyear
Nokian Tyres
Hankook
Nizhnekamskshina
Pirelli
Cooper Tire
Yokohama
Toyo Tire
Kumho Tire
JSC Cordiant
Zhongce
GITI Tire
Triangle
Apollo
Cheng Shin
Nexen Tire

Key Questions Addressed in this Report

What is the 10-year outlook for the global Winter Tire market?

What factors are driving Winter Tire market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Winter Tire market opportunities vary by end market size?

How does Winter Tire break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.