Winter Tire Market Breakdown By Size, Share, Growth, Trends, and Industry 2027- MarkNtel Advisors
According to Markntel Advisors Report, Winter Tire Market is expected to grow at a significant growth rate, and the analysis period is 2022-2027, considering the base year as 2021.Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.
Winter
tires are designed to run on snowy or icy roads while providing better grip
& traction to the vehicle. Equipped with metal or ceramic studs that
function exceptionally well in lower temperatures, these tires ensure greater
vehicle safety. Governments of several countries worldwide have made it
mandatory for vehicle owners to use winter tires during the colder months. It,
in turn, is generating growth opportunities for the leading tire manufacturers
to introduce a new range of tires with excellent features complimenting the
weather, road, and the vehicle altogether and enhancing the overall driving
experience.
Global Winter Tire
Market Research Report & Summary:
The Global Winter Tire Market is
projected to grow at a CAGR of around 5.12% during the forecast period, i.e.,
2022-27.
Time
Period Captured in the Report:
·
Historical
Years: 2017-20
·
Base
Years: 2021
·
Forecast
Years: 2022-27
Who are the Key Players Operating in
the Winter Tire Market?
The top
companies of the Winter Tire Market ruling the industry are:
Bridgestone,
Michelin, Goodyear, Continental, Nokian, Hankook, Pirelli, Yokohama, Sumitomo,
Toyo, Kumho
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What is Included in Winter Tire
Market Segmentation?
The Winter Tire Market explores the industry by
emphasizing the growth parameters and categorizes including geographical
segmentation, to offer a comprehensive understanding of the market
dynamic. The further bifurcations are as
follows:
- By Type of
Vehicle
- Passenger Car
- Light
Commercial Vehicle (LCV)
- Medium &
High Commercial Vehicle (MHCV)
- Others
- By OEM Vs
Replacement
- By Region
- North America
- Europe
- Russia &
CIS
- Asia Pacific
- By Sales Channel
- Exclusive
Stores
- Authorized
Dealers or Distributors
- Others
- By Price
Category
- Budget
- Economy
- Premium
- By Rim Diameter
- Upto 12”
- 12.1” to 15”
- 15.1” to 18”
- 18” to 22.5”
- Above 22.5”
Explore the Complete Winter Tire
Market Analysis Report – https://www.marknteladvisors.com/research-library/global-winter-tire-market-analysis.html
Market Segmentation
Based on the Rim Size:
·
Up to 12”
·
12.1” to 15”
·
15.1” to
18”
·
18” to
22.5”
·
Above
22.5”
Here, the demand
for winter tires of rim size 18” to 22.5” is projected to demonstrate the
fastest growth in the Global Winter Tire Market during 2022-27. It owes
principally to the growing vehicle fleet of passenger cars like SUVs using
larger rims for greater traction & stability on snowy & ice-packed
roads, i.e., showcasing their mounting demand across different corners of the
world. Besides, growing concerns over safety & timely inspection of vehicles
& tires are also contributing to the overall growth of the winter tire
market.
Based on the Type of Vehicle:
·
Passenger Cars
·
Light Commercial Vehicles (LCVs)
·
Medium & High Commercial Vehicles (MHCV)
Here, passenger
cars are expecting the largest market share through 2027, principally due to
the improving economic conditions of people & their rising inclination
toward private ownership of vehicles for local commutate, i.e., demonstrating a
rise in the passenger car fleet globally and directly impacting the demand for
winter tires.
Moreover, the
increasing inclination of consumers toward purchasing passenger cars with
pre-installed winter tires, especially across countries with colder
temperatures, is further playing a prominent role in driving the global market.
Furthermore, with an upswing in tourism & greater focus on delivering
cab/taxi services, the sales of passenger cars are elevating rapidly &
positively influencing the demand for winter tires.
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and several others.
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