Global Automotive Winter Tyre Market Report and Forecast 2024-2032

Global Automotive Winter Tyre Market Report and Forecast 2024-2032

Global Automotive Winter Tyre Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the global automotive winter tyre market size reached a value of USD 24.3 billion in 2023. Aided by the changing weather patterns, stringent safety regulations, and the growing awareness of the importance of seasonal tyre usage, the market is projected to further grow at a CAGR of 4.7% between 2024 and 2032 to reach a value of USD 36.85 billion by 2032.

Winter tyres, also known as snow tyres, are specialised tyres designed to enhance traction, grip, and control in cold weather conditions, including snow, ice, and slush. Engineered with unique tread patterns, rubber compounds, and sipping technologies, winter tyres offer superior performance and safety compared to all-season tyres in low-temperature environments, making them indispensable for drivers navigating winter road conditions.

The automotive winter tyre market growth is underpinned by several key drivers. Changing weather patterns and the increasing frequency of extreme weather events, attributed to climate change, have heightened the importance of seasonal tyre usage, driving demand for winter tyres among motorists seeking enhanced safety and performance during the winter months.

Moreover, stringent safety regulations and guidelines mandating the use of winter tyres or snow chains in regions prone to winter weather conditions have fuelled market growth. In countries such as Canada, Sweden, and Germany, where winter tyres are legally required during certain periods, government initiatives aimed at promoting road safety and reducing accidents have contributed to higher adoption rates of winter tyres among drivers.

The market is characterised by a wave of technological innovations and advancements aimed at enhancing tyre performance, durability, and safety. Manufacturers are investing in research and development initiatives to develop innovative tread designs, rubber compounds, and materials that optimize traction, braking, and handling on snow-covered and icy road surfaces, leading to automotive winter tyre market development.

Furthermore, the adoption of advanced manufacturing techniques such as computer-aided design (CAD), finite element analysis (FEA), and 3D printing is enabling the production of winter tyres with optimized tread patterns, reduced rolling resistance, and improved fuel efficiency. Additionally, the integration of smart tyre technologies such as tyre pressure monitoring systems (TPMS) and electronic stability control (ESC) systems enhances driver safety and vehicle stability in adverse weather conditions.

The increasing popularity of electric and hybrid passenger cars is driving the need for winter tyres that can cater to the specific requirements of these vehicles. Electric and hybrid cars are typically heavier due to their battery packs, which means they require tyres that offer excellent wet grip and can perform well on snow or ice. As a result, there is a growing demand for high-quality automotive winter tyres that can provide the necessary traction on slippery surfaces. Some car owners choose non-studded and low rolling resistance winter tyres for enhanced comfort and fuel efficiency, leading to automotive winter tyre market expansion.

The market reflects diverse trends and dynamics across different geographical regions. Northern Hemisphere regions characterised by cold climates and heavy snowfall, such as North America, Europe, and parts of Asia, represent key markets for winter tyres, driven by the seasonal demand for traction and grip in winter driving conditions.

As per the automotive winter tyre market analysis, regions with milder climates and limited snowfall, such as Southern Europe, Latin America, and the Middle East, exhibit lower adoption rates of winter tyres, with drivers typically opting for all-season tyres year-round. However, government initiatives, changing weather patterns, and increasing awareness of the benefits of winter tyres are gradually driving market growth in these regions, presenting opportunities for manufacturers and suppliers.

Market Segmentation

The market can be divided based on the tyre type, rim size, vehicle type, sales channel, and region

Market Breakup by Tyre Type

• Studded
• Non-Studded

Market Breakup by Rim Size

• 12 Inch to 17 Inch
• 18 Inch to 21 Inch
• Above 22 Inch

Market Breakup by Vehicle Type

• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles

Market Breakup by Sales Channel

• OEM
• Aftermarket

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in global automotive winter tyre market. Some of the major players explored in the report by Expert Market Research are as follows:

• Continental AG
• Bridgestone Corporation
• Yokohama Rubber Co. Ltd.
• Sumitomo Rubber Industries, Ltd.
• Apollo Tyres Ltd.
• Michelin Group
• Pirelli & C. S.p.A.
• Hankook Tyre & Technology Co. Ltd.
• The Goodyear Tyre & Rubber Company
• Cooper Tyre & Rubber Company
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report. Show more