Snow Tyre Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032
- Report ID: ME_0075240
- Format: Electronic (PDF)
- Publish Type: Publish
- Number of Pages: 250
Market Snapshot
Source: Market Expertz
| Study Period | 2019-2032 |
| Base Year | 2023 |
| Forcast Year | 2023-2032 |
| CAGR | 9.17 |
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Snow Tyre Market Analysis Report 2023-2032:
The Snow Tyre Market size is estimated to grow at a CAGR of 5.2% between 2022 and 2032. The market size is forecast to increase by USD 2,750.89 million. The growth of the market depends on several factors, including the increasing demand for snow tires in regions with harsh winter conditions, the rise in winter sports activities, and the growing awareness of the importance of safety during winter driving. Snow tires, also known as winter tires, are specialized tires designed to provide better traction and handling in snowy and icy conditions, ensuring safer and more reliable driving in cold climates. They are essential for vehicles operating in areas prone to heavy snowfall and freezing temperatures.
Snow Tyre Market Overview
Drivers:
Moreover, the rise in winter sports activities, such as skiing and snowboarding, contributes to the market's growth. These activities often require traveling to snowy destinations, where snow tires are essential for safe transportation. Additionally, government regulations mandating the use of snow tires in certain regions further stimulate market growth.
Trends:
Furthermore, the growing popularity of electric vehicles (EVs) has led to a trend of specialized snow tires for EVs. These tires are designed to meet the unique needs of electric vehicles, such as optimizing energy efficiency and range in cold weather conditions. As the EV market continues to expand, the demand for tailored snow tires for these vehicles is expected to rise.
Restraints:
Additionally, the cost of snow tires can be a deterrent for some consumers. High-quality snow tires can be relatively expensive, and not all vehicle owners are willing to invest in them, especially if they live in regions with mild winters or have limited winter driving needs.
Snow Tyre Market Segmentation By Application The passenger vehicles segment is estimated to witness significant growth during the forecast period. Snow tires are commonly used on passenger cars to ensure safe and reliable transportation in snowy and icy conditions. These tires offer better traction and control, reducing the risk of accidents during winter driving. As consumer awareness of the importance of winter safety grows, the demand for snow tires for passenger vehicles is expected to increase.
The commercial vehicles segment, including trucks and buses, also represents a substantial market share. Commercial vehicles often travel long distances and are crucial for transporting goods and passengers, making snow tires a necessity in regions with severe winter weather.
Snow Tyre Market Segmentation By Type The studded snow tire segment is experiencing growth due to its exceptional traction on icy roads. Studded snow tires feature metal studs embedded in the tread, which grip the road surface, providing superior stability and control. These tires are favored in regions with extremely icy conditions, such as northern climates.
Non-studded snow tires, which rely on advanced rubber compounds and tread designs for traction, also have a significant market share. These tires offer a quieter and smoother ride compared to studded tires and are preferred by many drivers in areas with less severe winter conditions.
Regional Overview North America is estimated to contribute significantly to the growth of the global snow tire market during the forecast period. The region experiences harsh winter conditions in many areas, including the northern United States and Canada. As a result, there is a high demand for snow tires to ensure safe and reliable winter driving. Government regulations in some states and provinces mandate the use of snow tires during winter months, further boosting market growth.
In Europe, countries like Sweden, Norway, and Finland, where winter weather is severe, also drive substantial demand for snow tires. The European market benefits from a strong automotive industry and a culture of winter tire usage.
Asia-Pacific (APAC) is witnessing growth in the snow tire market, primarily in regions of Japan, South Korea, and northern China, where snowfall is common during the winter season. As disposable income and awareness of winter safety increase in APAC, the market is expected to expand further.
Snow Tyre Market Customer Landscape The snow tire market industry report includes an analysis of the customer lifecycle, from early adopters to laggards, focusing on adoption rates in different regions based on seasonal weather patterns. The report also explores key purchase criteria, including safety, durability, and price sensitivity, helping companies develop effective growth strategies.
Who are the Major Snow Tyre Market Companies? Companies in the snow tire market are employing various strategies, such as product innovation, strategic partnerships, mergers and acquisitions, and expanding their geographical presence, to strengthen their market position.
Notable snow tire manufacturers include:
- Michelin
- Bridgestone Corporation
- The Goodyear Tire & Rubber Company
- Continental AG
- Pirelli & C. S.p.A
- Nokian Tyres plc
- Hankook Tire & Technology Co., Ltd.
- Toyo Tire Corporation
- Yokohama Rubber Co., Ltd.
- Cooper Tire & Rubber Company
These companies are at the forefront of developing advanced snow tire technologies and catering to the diverse needs of consumers in various regions.
Segment Overview The snow tire market report provides revenue forecasts at global, regional, and country levels, offering an analysis of trends and growth opportunities from 2019 to 2032.
- Application Outlook (USD Million, 2019 - 2032)
- Passenger Vehicles
- Commercial Vehicles (Trucks and Buses)
- Type Outlook (USD Million, 2019 - 2032)
- Studded Snow Tires
- Non-Studded Snow Tires
- Geography Outlook (USD Million, 2019 - 2032)
- North America
- The U.S.
- Canada
- Europe
- Sweden
- Norway
- Finland
- Rest of Europe
- APAC
- Japan
- South Korea
- Northern China
- South America
- Chile
- Argentina
- Brazil
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
Table of Content
Part 1 Market Overview
1.1 Market Definition
1.2 Market Development
1.3 By Type
1.4 By Application
1.5 By Region
Part 2 Key Companies
2.1 Michelin
2.1.1 Company Profile
2.1.2 Products & Services Overview
2.1.3 Sales Data List
2.2 Goodyear
2.3 Bridgestone
2.4 Continental
2.5 Pirelli
2.6 Hankook
2.7 Sumitomo
2.8 Yokohama
2.9 Maxxis
2.10 Zhongce
2.11 GITI Tire
2.12 Toyo Tire
2.13 Cooper Tire
2.14 Kumho Tire
2.15 Apollo Tires Ltd
2.16 Triangle Group
2.17 Nexen Tire
2.18 Hengfeng Rubber
2.19 Nokian Tyres
2.20 Nitto Tire
Part 3 Global Market Status and Future Forecast
3.1 Global Market by Region
3.2 Global Market by Company
3.3 Global Market by Type
3.4 Global Market by Application
3.5 Global Market by Forecast
Part 4 Asia-Pacific Market Status and Future Forecast
4.1 Asia-Pacific Market by Type
4.2 Asia-Pacific Market by Application
4.3 Asia-Pacific Market by Geography
4.3.1 China Market Status and Future Forecast
4.3.2 Southeast Asia Market Status and Future Forecast
4.3.3 India Market Status and Future Forecast
4.3.4 Japan Market Status and Future Forecast
4.3.5 Korea Market Status and Future Forecast
4.3.6 Oceania Market Status and Future Forecast
4.4 Asia-Pacific Market by Forecast
Part 5 Europe Market Status and Future Forecast
5.1 Europe Market by Type
5.2 Europe Market by Application
5.3 Europe Market by Geography
5.3.1 Germany Market Status and Future Forecast
5.3.2 UK Market Status and Future Forecast
5.3.3 France Market Status and Future Forecast
5.3.4 Italy Market Status and Future Forecast
5.3.5 Russia Market Status and Future Forecast
5.3.6 Spain Market Status and Future Forecast
5.3.6 Netherlands Market Status and Future Forecast
5.3.7 Turkey Market Status and Future Forecast
5.3.6 Switzerland Market Status and Future Forecast
5.4 Europe Market by Forecast
Part 6 North America Market Status and Future Forecast
6.1 North America Market by Type
6.2 North America Market by Application
6.3 North America Market by Geography
6.3.1 United States Market Status and Future Forecast
6.3.2 Canada Market Status and Future Forecast
6.3.3 Mexico Market Status and Future Forecast
6.4 North America Market by Forecast
Part 7 South America Market Status and Future Forecast
7.1 South America Market by Type
7.2 South America Market by Application
7.3 South America Market by Geography
7.3.1 Brazil Market Status and Future Forecast
7.3.2 Argentina Market Status and Future Forecast
7.3.3 Columbia Market Status and Future Forecast
7.3.4 Chile Market Status and Future Forecast
7.3.5 Peru Market Status and Future Forecast
7.4 South America Market by Forecast
Part 8 Middle East & Africa Market Status and Future Forecast
8.1 Middle East & Africa Market by Type
8.2 Middle East & Africa Market by Application
8.3 Middle East & Africa Market by Geography
8.3.1 GCC Market Status and Future Forecast
8.3.2 North Africa Market Status and Future Forecast
8.3.3 South Africa Market Status and Future Forecast
8.4 Middle East & Africa Market by Forecast
Part 9 Market Features
9.1 Product Features
9.2 Price Features
9.3 Channel Features
9.4 Purchasing Features
Part 10 Investment Opportunity
10.1 Regional Investment Opportunity
10.2 Industry Investment Opportunity
Part 11 Conclusion
Table Type of Snow Tyre
Table Application of Snow Tyre
Table Michelin Overview List
Table Snow Tyre Business Operation of Michelin (Sales Revenue, Sales Volume, Price, Cost, Gross Margin)
Table Goodyear Overview List
Table Snow Tyre Business Operation of Goodyear (Sales Revenue, Sales Volume, Price, Cost, Gross Margin)
Table Bridgestone Overview List
Table Snow Tyre Business Operation of Bridgestone (Sales Revenue, Sales Volume, Price, Cost, Gross Margin)
Table Continental Overview List
Table Snow Tyre Business Operation of Continental (Sales Revenue, Sales Volume, Price, Cost, Gross Margin)
Table Pirelli Overview List
Table Snow Tyre Business Operation of Pirelli (Sales Revenue, Sales Volume, Price, Cost, Gross Margin)
Table Hankook Overview List
Table Snow Tyre Business Operation of Hankook (Sales Revenue, Sales Volume, Price, Cost, Gross Margin)
Table Sumitomo Overview List
Table Snow Tyre Business Operation of Sumitomo (Sales Revenue, Sales Volume, Price, Cost, Gross Margin)
Table Yokohama Overview List
Table Snow Tyre Business Operation of Yokohama (Sales Revenue, Sales Volume, Price, Cost, Gross Margin)
Table Maxxis Overview List
Table Snow Tyre Business Operation of Maxxis (Sales Revenue, Sales Volume, Price, Cost, Gross Margin)
Table Zhongce Overview List
Table Snow Tyre Business Operation of Zhongce (Sales Revenue, Sales Volume, Price, Cost, Gross Margin)
Table GITI Tire Overview List
Table Snow Tyre Business Operation of GITI Tire (Sales Revenue, Sales Volume, Price, Cost, Gross Margin)
Table Toyo Tire Overview List
Table Snow Tyre Business Operation of Toyo Tire (Sales Revenue, Sales Volume, Price, Cost, Gross Margin)
Table Cooper Tire Overview List
Table Snow Tyre Business Operation of Cooper Tire (Sales Revenue, Sales Volume, Price, Cost, Gross Margin)
Table Kumho Tire Overview List
Table Snow Tyre Business Operation of Kumho Tire (Sales Revenue, Sales Volume, Price, Cost, Gross Margin)
Table Apollo Tires Ltd Overview List
Table Snow Tyre Business Operation of Apollo Tires Ltd (Sales Revenue, Sales Volume, Price, Cost, Gross Margin)
Table Triangle Group Overview List
Table Snow Tyre Business Operation of Triangle Group (Sales Revenue, Sales Volume, Price, Cost, Gross Margin)
Table Nexen Tire Overview List
Table Snow Tyre Business Operation of Nexen Tire (Sales Revenue, Sales Volume, Price, Cost, Gross Margin)
Table Hengfeng Rubber Overview List
Table Snow Tyre Business Operation of Hengfeng Rubber (Sales Revenue, Sales Volume, Price, Cost, Gross Margin)
Table Nokian Tyres Overview List
Table Snow Tyre Business Operation of Nokian Tyres (Sales Revenue, Sales Volume, Price, Cost, Gross Margin)
Table Nitto Tire Overview List
Table Snow Tyre Business Operation of Nitto Tire (Sales Revenue, Sales Volume, Price, Cost, Gross Margin)
Table Global Snow Tyre Market by Region, 2015-2019 (Million USD)
Table Global Snow Tyre Market by Region, 2015-2019 (Volume)
Table Price List by Region, 2015-2019
Table Global Snow Tyre Market by Company, 2015-2019 (Million USD)
Table Global Snow Tyre Market by Company, 2015-2019 (Volume)
Table Price List by Company, 2015-2019
Table Global Snow Tyre Market by Type, 2015-2019 (Million USD)
Table Global Snow Tyre Market by Type, 2015-2019 (Volume)
Table Price List by Type, 2015-2019
Table Global Snow Tyre Market by Application, 2015-2019 (Million USD)
Table Global Snow Tyre Market by Application, 2015-2019 (Volume)
Table Price List by Application, 2015-2019
Table Asia-Pacific Snow Tyre Market by Type, 2015-2019 (Million USD)
Table Asia-Pacific Snow Tyre Market by Type, 2015-2019 (Volume)
Table Price List by Type, 2015-2019
Table Asia-Pacific Snow Tyre Market by Application, 2015-2019 (Million USD)
Table Asia-Pacific Snow Tyre Market by Application, 2015-2019 (Volume)
Table Price List by Application, 2015-2019
Table Europe Snow Tyre Market by Type, 2015-2019 (Million USD)
Table Europe Snow Tyre Market by Type, 2015-2019 (Volume)
Table Price List by Type, 2015-2019
Table Europe Snow Tyre Market by Application, 2015-2019 (Million USD)
Table Europe Snow Tyre Market by Application, 2015-2019 (Volume)
Table Price List by Application, 2015-2019
Table North America Snow Tyre Market by Type, 2015-2019 (Million USD)
Table North America Snow Tyre Market by Type, 2015-2019 (Volume)
Table Price List by Type, 2015-2019
Table North America Snow Tyre Market by Application, 2015-2019 (Million USD)
Table North America Snow Tyre Market by Application, 2015-2019 (Volume)
Table Price List by Application, 2015-2019
Table South America Snow Tyre Market by Type, 2015-2019 (Million USD)
Table South America Snow Tyre Market by Type, 2015-2019 (Volume)
Table Price List by Type, 2015-2019
Table South America Snow Tyre Market by Application, 2015-2019 (Million USD)
Table South America Snow Tyre Market by Application, 2015-2019 (Volume)
Table Price List by Application, 2015-2019
Table Middle East & Africa Snow Tyre Market by Type, 2015-2019 (Million USD)
Table Middle East & Africa Snow Tyre Market by Type, 2015-2019 (Volume)
Table Price List by Type, 2015-2019
Table Middle East & Africa Snow Tyre Market by Application, 2015-2019 (Million USD)
Table Middle East & Africa Snow Tyre Market by Application, 2015-2019 (Volume)
Table Price List by Application, 2015-2019
RESEARCH METHODOLOGY
A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.
Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.
Now let’s take a closer look at the research methods here.
Secondary Research Model
Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.
Primary Insights
Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.
However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.
Market Estimation
The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.
Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.
Final Presentation
The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.
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