Product Code: r6421
“Winter Tire Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on winter tire market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
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- Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for winter tire? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The winter tire market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Scope
Markets Covered:
- 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
- Companies Mentioned: Bridgestone Corporation; Continental AG; Michelin; Goodyear Tire and Rubber Company; Nokian Tyres PLC.
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery format: PDF, Word and Excel Data Dashboard.
Executive Summary
Major players in the winter tire market are Bridgestone Corporation, Continental AG, Michelin, Goodyear Tire and Rubber Company, Nokian Tyres PLC., Pirelli & C. S.p.A, Yokohama Rubber Company Limited, Hankook Tire & Technology, Sumitomo Rubber Industries Ltd., Toyo Tire Corporation, Apollo Tyres Limited, Madras Rubber Factory, Zhongce Rubber Group Co Ltd., Shandong Linglong Tire Co Ltd., CSTtires, Triangle group, Nexen Tire Corporation, Hankook Tire & Technology, Kumho Tire, Nankang Rubber Tire Corp Ltd., Maxxis International, Sailun Group, and Zhongce Rubber Group Co Ltd.
The global winter tire market is expected to grow from $22.16 billion in 2022 to $23.49 billion in 2023 at a compound annual growth rate (CAGR) of 6.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The winter tire market is expected to reach $28.76 billion in 2027 at a CAGR of 5.2%.
The winter tires market consists of sales of snowflake tires and peaked mountain tires. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
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.
Europe was the largest region in the winter tire market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of winter tires are studded and stud-less. Studded tires are winter tires that have small metal studs added to the tread area and it is used to provide improved grip on ice and snow by providing control and performance on the surface. The major rims size of winter tires are 12''- 17''; 18''-21''and >22'' that are used in passenger vehicles, light commercial vehicles, and heavy commercial vehicles and are sold via sales channels such as original equipment manufacturers and aftermarket.
The rising growth of the automobile industry is expected to propel the growth of the winter tires market going forward. The automotive industry refers to an industry involved in designing, manufacturing, wholesale, retailing, and maintaining motor vehicles. Winter tires are used in automobiles to provide good traction in extreme cold, and on icy, snowy, or slushy roads, whereas rubber used in tires remains softer that makes it more flexible, allowing the tire to conform to the road and provide better performance in extremely cold conditions. Moreover, countries with cold climates are mandating the usage of winter tires, amid safety concerns and fuel efficiency which results in increased demand for winter tires. For instance, in November 2022, according to the Society of Motor Manufacturers and Traders (SMMT), a UK-based trade association of motor vehicles, UK's car production has risen to 7.4% to 69,524 units as compared to the previous years. Therefore, the rising growth of the automotive industry is driving the growth of the winter tires market.
Product innovation is a key trend gaining popularity in the winter tires market. Major companies operating in the winter tires market are focused on developing innovative products to strengthen their position in the market. For instance, in March 2021, Goodyear Tire & Rubber Company, a US-based multinational tire manufacturing company, introduced UltraGrip Arctic 2 tire, a studded tire for passenger cars and SUVs for unbeaten ice braking, snow braking & handling performance. UltraGrip Arctic 2 tire's unique features include an arctic eagle claw stud, snow grip technology, and noise control that provides strong performance in all snow conditions through wider grooves and higher edge density with optimal ice grip and an innovative anchoring system for improved stud retention which enables ice performance throughout the lifetime of the tire.
In June 2021, Goodyear Tire & Rubber Company, a US-based tire manufacturing company acquired Cooper Tire & Rubber Company for an undisclosed amount. Through this acquisition, Goodyear Tire & Rubber Company aims to strengthen its product portfolio in the tire market and expand its geographical reach in the North American market. Cooper Tire & Rubber Company is a US-based company operating in the design, manufacture, marketing, and sales of automobile tires such as winter tires.
The countries covered in the winter tire market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The winter tires market research report is one of a series of new reports from The Business Research Company that provides winter tires market statistics, including winter tires industry global market size, regional shares, competitors with a winter tires market share, detailed winter tires market segments, market trends and opportunities, and any further data you may need to thrive in the winter tires industry. This winter tires market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Table of Contents
1. Executive Summary
2. Winter Tire Market Characteristics
3. Winter Tire Market Trends And Strategies
4. Winter Tire Market - Macro Economic Scenario
- 4.1. COVID-19 Impact On Winter Tire Market
- 4.2. Ukraine-Russia War Impact On Winter Tire Market
- 4.3. Impact Of High Inflation On Winter Tire Market
5. Winter Tire Market Size And Growth
- 5.1. Global Winter Tire Historic Market, 2017-2022, $ Billion
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints On The Market
- 5.2. Global Winter Tire Forecast Market, 2022-2027F, 2032F, $ Billion
- 5.2.1. Drivers Of The Market
- 5.2.2. Restraints On the Market
6. Winter Tire Market Segmentation
- 6.1. Global Winter Tire Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Studded
- Stud-Less
- 6.2. Global Winter Tire Market, Segmentation By Rim Size, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 12''- 17''
- 18''-21''
- >22''
- 6.3. Global Winter Tire Market, Segmentation By Vehicle Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Passenger Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- 6.4. Global Winter Tire Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Original Equipment Manufacturers
- Aftermarket
7. Winter Tire Market Regional And Country Analysis
- 7.1. Global Winter Tire Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 7.2. Global Winter Tire Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
8. Asia-Pacific Winter Tire Market
- 8.1. Asia-Pacific Winter Tire Market Overview
- Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
- 8.2. Asia-Pacific Winter Tire Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 8.3. Asia-Pacific Winter Tire Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
9. China Winter Tire Market
- 9.1. China Winter Tire Market Overview
- 9.2. China Winter Tire Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
- 9.3. China Winter Tire Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
10. India Winter Tire Market
- 10.1. India Winter Tire Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 10.2. India Winter Tire Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11. Japan Winter Tire Market
- 11.1. Japan Winter Tire Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 11.2. Japan Winter Tire Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12. Australia Winter Tire Market
- 12.1. Australia Winter Tire Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 12.2. Australia Winter Tire Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13. Indonesia Winter Tire Market
- 13.1. Indonesia Winter Tire Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 13.2. Indonesia Winter Tire Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14. South Korea Winter Tire Market
- 14.1. South Korea Winter Tire Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 14.2. South Korea Winter Tire Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15. Western Europe Winter Tire Market
- 15.1. Western Europe Winter Tire Market Overview
- 15.2. Western Europe Winter Tire Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 15.3. Western Europe Winter Tire Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16. UK Winter Tire Market
- 16.1. UK Winter Tire Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 16.2. UK Winter Tire Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17. Germany Winter Tire Market
- 17.1. Germany Winter Tire Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 17.2. Germany Winter Tire Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18. France Winter Tire Market
- 18.1. France Winter Tire Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 18.2. France Winter Tire Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19. Eastern Europe Winter Tire Market
- 19.1. Eastern Europe Winter Tire Market Overview
- 19.2. Eastern Europe Winter Tire Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 19.3. Eastern Europe Winter Tire Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20. Russia Winter Tire Market
- 20.1. Russia Winter Tire Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 20.2. Russia Winter Tire Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21. North America Winter Tire Market
- 21.1. North America Winter Tire Market Overview
- 21.2. North America Winter Tire Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 21.3. North America Winter Tire Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22. USA Winter Tire Market
- 22.1. USA Winter Tire Market Overview
- 22.2. USA Winter Tire Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 22.3. USA Winter Tire Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23. South America Winter Tire Market
- 23.1. South America Winter Tire Market Overview
- 23.2. South America Winter Tire Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 23.3. South America Winter Tire Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24. Brazil Winter Tire Market
- 24.1. Brazil Winter Tire Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 24.2. Brazil Winter Tire Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25. Middle East Winter Tire Market
- 25.1. Middle East Winter Tire Market Overview
- 25.2. Middle East Winter Tire Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 25.3. Middle East Winter Tire Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26. Africa Winter Tire Market
- 26.1. Africa Winter Tire Market Overview
- 26.2. Africa Winter Tire Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 26.3. Africa Winter Tire Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
27. Winter Tire Market Competitive Landscape And Company Profiles
- 27.1. Winter Tire Market Competitive Landscape
- 27.2. Winter Tire Market Company Profiles
- 27.2.1. Bridgestone Corporation
- 27.2.1.1. Overview
- 27.2.1.2. Products and Services
- 27.2.1.3. Strategy
- 27.2.1.4. Financial Performance
- 27.2.2. Continental AG
- 27.2.2.1. Overview
- 27.2.2.2. Products and Services
- 27.2.2.3. Strategy
- 27.2.2.4. Financial Performance
- 27.2.3. Michelin
- 27.2.3.1. Overview
- 27.2.3.2. Products and Services
- 27.2.3.3. Strategy
- 27.2.3.4. Financial Performance
- 27.2.4. Goodyear Tire and Rubber Company
- 27.2.4.1. Overview
- 27.2.4.2. Products and Services
- 27.2.4.3. Strategy
- 27.2.4.4. Financial Performance
- 27.2.5. Nokian Tyres plc
- 27.2.5.1. Overview
- 27.2.5.2. Products and Services
- 27.2.5.3. Strategy
- 27.2.5.4. Financial Performance
28. Key Mergers And Acquisitions In The Winter Tire Market
29. Winter Tire Market Future Outlook and Potential Analysis
30. Appendix
- 30.1. Abbreviations
- 30.2. Currencies
- 30.3. Historic And Forecast Inflation Rates
- 30.4. Research Inquiries
- 30.5. The Business Research Company
- 30.6. Copyright And Disclaimer