Press release
Winter Tire Market: Proliferation, Key Players, and Future Trends, Centered on a $33.45 Billion Market by 2029
Swift Growth in the Winter Tire Market Set to Reach $33.45 Billion by 2029, Propelled by Climate Change Impact, Rising Disposable Incomes, and Advancements in Tire Technology.
What Is the Projected Market Size of the Global Winter Tire Market and Its Growth Rate?
The global winter tire market has witnessed robust growth in recent years and is set to continue on this upward trajectory. Here are some key statistics:
• The market size was valued at $24.68 billion in 2024.
• Projected to grow to $26.13 billion in 2025 with a CAGR of 5.9%.
• By 2029, the estimated market size will be $33.45 billion, growing at a CAGR of 6.4%.
What Is Driving the Growth in the Winter Tire Market?
The ascending growth of the automobile industry is fostering growth in the winter tires market. The automotive industry, involved in designing, manufacturing, retailing, and maintaining motor vehicles, significantly contributes to the rise in winter tire usage. In countries with cold climates, the demand for winter tires is rising due to regulations mandating their use for safety concerns and fuel efficiency. Additionally, the Society of Motor Manufacturers and Traders (SMMT) reported that the UK's car production increased to 7.4% touching 69,524 units, significant growth from previous years. Thus, the thriving growth of the automotive industry is propelling the winter tires market.
Request A Free Sample Copy:
https://www.thebusinessresearchcompany.com/sample.aspx?id=9200&type=smp
Who Are the Key Players Driving Winter Tire Market Growth?
Major companies driving the growth in the winter tire market include:
• Bridgestone Corporation
• Apollo Tyres Limited
• Continental AG
• Cheng Shin Rubber Industry Co. Ltd.
• Goodyear Tire and Rubber Company
• Hankook Tire & Technology Co. Ltd.
• Kumho Tire Co. Inc.
• Madras Rubber Factory Ltd.
What Are the Key Trends in the Winter Tire Market?
The winter tire market is expected to witness various trends influencing its growth:
• Adoption of studdles tires
• Advancements in tire technology
• Sustainability and eco-friendly materials trend
• Growth of online tire sales and e-commerce
• Demand for performance-oriented winter tires
What Are the Segments of the Global Winter Tire Market?
The global winter tire market is divided into the following segments:
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, After market
Which Region Leads the Winter Tire Market?
Europe was the largest region in the winter tire market in 2024, followed by regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Pre-book the Report for Swift Delivery:
https://www.thebusinessresearchcompany.com/report/winter-tire-global-market-report
What Is Covered In The Winter Tire Market Global Market Report?
- Market Size Analysis: Analyze the Winter Tire Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Winter Tire Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Winter Tire Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Winter Tire Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
Request Customization for This Report
https://www.thebusinessresearchcompany.com/Customise?id=9200&type=smp
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
What Is the Projected Market Size of the Global Winter Tire Market and Its Growth Rate?
The global winter tire market has witnessed robust growth in recent years and is set to continue on this upward trajectory. Here are some key statistics:
• The market size was valued at $24.68 billion in 2024.
• Projected to grow to $26.13 billion in 2025 with a CAGR of 5.9%.
• By 2029, the estimated market size will be $33.45 billion, growing at a CAGR of 6.4%.
What Is Driving the Growth in the Winter Tire Market?
The ascending growth of the automobile industry is fostering growth in the winter tires market. The automotive industry, involved in designing, manufacturing, retailing, and maintaining motor vehicles, significantly contributes to the rise in winter tire usage. In countries with cold climates, the demand for winter tires is rising due to regulations mandating their use for safety concerns and fuel efficiency. Additionally, the Society of Motor Manufacturers and Traders (SMMT) reported that the UK's car production increased to 7.4% touching 69,524 units, significant growth from previous years. Thus, the thriving growth of the automotive industry is propelling the winter tires market.
Request A Free Sample Copy:
https://www.thebusinessresearchcompany.com/sample.aspx?id=9200&type=smp
Who Are the Key Players Driving Winter Tire Market Growth?
Major companies driving the growth in the winter tire market include:
• Bridgestone Corporation
• Apollo Tyres Limited
• Continental AG
• Cheng Shin Rubber Industry Co. Ltd.
• Goodyear Tire and Rubber Company
• Hankook Tire & Technology Co. Ltd.
• Kumho Tire Co. Inc.
• Madras Rubber Factory Ltd.
What Are the Key Trends in the Winter Tire Market?
The winter tire market is expected to witness various trends influencing its growth:
• Adoption of studdles tires
• Advancements in tire technology
• Sustainability and eco-friendly materials trend
• Growth of online tire sales and e-commerce
• Demand for performance-oriented winter tires
What Are the Segments of the Global Winter Tire Market?
The global winter tire market is divided into the following segments:
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, After market
Which Region Leads the Winter Tire Market?
Europe was the largest region in the winter tire market in 2024, followed by regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Pre-book the Report for Swift Delivery:
https://www.thebusinessresearchcompany.com/report/winter-tire-global-market-report
What Is Covered In The Winter Tire Market Global Market Report?
- Market Size Analysis: Analyze the Winter Tire Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Winter Tire Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Winter Tire Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Winter Tire Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
Request Customization for This Report
https://www.thebusinessresearchcompany.com/Customise?id=9200&type=smp
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage
to this press release on woodPRI. woodPRI disclaims liability for any content contained in
this release.
Recommend
/newsMicroencapsulation Market Deep Analysis on Key Players - Dow Corning, Encapsys, Syngenta Crop Protection, Evonik Industries, 3M and Bayer
Market Study Report Adds Global Microencapsulation Market Size, Status and Forecast 2024 added to its database. The report provides key statistics on the current state of the industry and other analytical data to understand the market.
Extensive research is required for choosing the appropriate cor...
/newsGermany Airbag Market Size 2023: Global Share, Industry And Report Analysis By 2030 | Hyundai Mobis Co., Ltd. Key Safety Systems, Inc. Robert Bosch GmbH
Germany airbag market is expected to grow at a CAGR of around 6% during the forecast period. Germany Airbag Market research report refers to gathering and analyzing significant market data serve as best medium for various industry players to launch novel product or service. It is vital for key firms...
/newsSecurities Brokerages And Stock Exchanges Market Outlook 2021: Big Things are Happening
A new intelligence report released by HTF MI with title "Global Securities Brokerages And Stock Exchanges Market Survey & Outlook" is designed covering micro level of analysis by Insurers and key business segments, offerings and sales channels. The Global Securities Brokerages And Stock Exchange...
/newsRenewable Chemicals Market Emerging Trends and Competitive Landscape Forecast to 2028
The renewable chemicals market was valued at US$ 80,566.30 million in 2021 and is projected to reach US$ 1,76,750.76 million by 2028 it is expected to grow at a CAGR of 11.9% from 2021 to 2028. The research report focuses on the current market trends, opportunities, future potential of the market, a...
/newsHow Coronavirus is Impacting Cold Brew Coffee, Global Market Volume Analysis, Size, Share and Key Trends 2020-2026
"Market Latest Research Report 2020:
Los Angles United States, February 2020: The Cold Brew Coffee market has been garnering remarkable momentum in the recent years. The steadily escalating demand due to improving purchasing power is projected to bode well for the global market. QY Research's lates...
/newsCorporate E-Learning Market - Global Industry Size, Share, Key Players Analysis that are Infor, SkillSoft Corporation, Adrenna, CERTPOINT Systems and others with Regional Forecast to 2022
Overview:
E-Learning is used to enhance the learning procedures for newer job requirements and to make employees sound about the internal and external changes in the market and respective organizations. This method has created considerable differences in the ways of training and developing employee...
