Winter Tires Market
Winter Tires Market Analysis, By Product Type (Studded Tires, Stud-less Tires), By Vehicle Type (Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles), By Sales Channel (Original Equipment Manufacturers, Aftermarket) - Global Market Insights 2022 to 2032
Analysis of Winter Tires market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
FREE CustomizationWinter Tires Market Outlook (2022 to 2032)
The global winter tires market is valued at US$ 24.1 Bn in 2022, and is forecast to surpass US$ 36.6 Bn valuation by 2032, expanding at a CAGR of 4.2% from 2022 to 2032.
| Report Attribute | Detail |
|---|---|
| Winter Tires Market Size (2021A) | US$ 23.2 Bn |
| Estimated Market Value (2022E) | US$ 24.1 Bn |
| Forecasted Market Value (2032F) | US$ 36.6 Bn |
| Global Market Growth Rate (2022 to 2032) | 4.2% CAGR |
| Europe Market Share (2021) | ~32% |
| Europe Growth Rate (2022 to 2032) | ~4.9% CAGR |
| Germany Growth Rate (2022 to 2032) | ~5.1% CAGR |
| Market Share of Top 5 Companies | ~19% |
| Key Companies Profiled | Bridgestone Corp.; Continental AG; Michelin; Goodyear Tire & Rubber Co.; Nokian Renkaat Oyj; Pirelli & C. Spa; Yokohama Rubber Company; Hankook Tire Company; Sumitomo Rubber Industries Ltd.; Toyo Tire & Rubber Company |
Winter tires account for close to 1% share of total tire sales worldwide, and are largely in demand across selected geographies.
Sales Analysis of Winter Tires (2017 to 2021) in Comparison to Market Growth Forecasts (2022 to 2032)
Snow tires, or winter tires, are appropriately designed for traction on ice and snow. As these automotive tires are equipped with ceramic or metal studs, they can be used in lower temperatures. Different countries and regions across the globe have regulations on usage and the design of winter tires to be used in cold climatic conditions, thereby providing a gain of 96 BPS to the winter tires market over the coming years.
Multiple macroeconomic and industry-specific factors influence the demand for winter tires. For instance, government regulations mandating the use of winter tires is one of the signification demand driving factor for the market.
Several countries with harsh and cold climate conditions have enacted laws to make winter tires mandatory to be used in certain months. These factors have led to a spike in demand for winter tires across these region.
- Short-run (2022 Q2 to 2025): Regulations with regards to the application of winter tires in low-temperature countries are likely to support demand growth of winter tires in the short term.
- Medium-run (2025-2028): In the medium term, the market is anticipated to grow on the back of strong demand and growth of the automobile industry.
- Long-run (2028-2032): The market is anticipated to observe moderate growth in the long run.
Fact.MR projects that the global market for winter tires is expected to witness growth at 4.2% CAGR during 2022 and 2032 in comparison to the CAGR of 2.8% from 2017 and 2021.
This image provides market share analysis by product type, vehicle type, and region in a nutshell. Under product type segment, studded tires dominated the market by holding 54.3% share in 2021.
Global Winter Tires Market – Demand Drivers
“Growing Automobile Industry to Support Demand Growth of Winter Tires”
Growing automobile industry is boosting demand growth of vehicle winter tires, especially in countries that have cold climates. Growth of the snow tires market is directly proportional to escalating demand for automobiles, for both, personal and commercial use.
Demand is estimated to rise 1/5 of current levels on the back of multiple factors. For instance, countries with cold climates are mandating the application of winter tires amid rising safety concerns and need for fuel efficiency. In addition to this, companies are offering discounts on insurance premiums for vehicles that are equipped with winter tires, which is further boosting the use of winter tires.
With the rise in disposable income of consumers and growth of the automobile industry, consumers are replacing their conventional tires with winter tires amid rising number of stringent norms and rapid innovation by tire manufacturers, thereby fueling the sales of winter tires.
“Safety Features Offered by Winter Tires to Propel Market Growth”
Automobile winter tires are specially designed for low temperatures and harsh weather, and offer better traction than conventional all-season tires, which is the main advantage of winter tires. These tires are flexible, and so, they provide better grip on ice and snow. They are used for a certain period of time in a year, and can lasts longer, maybe 4 to 5 seasons, if maintained properly.
The provision of extra safety offered by snow and ice tires narrowing down the risks of accidents is estimated to fuel market growth by 1.9X during the period of forecast. The main reason for this lies in the fact that they are designed to provide effective braking, improved adhesion, and better cornering performance, along with reacting better in emergency situations than all-seasons tires.
What are the Challenge for Winter Tire Manufacturers?
“Need for Setting Up High-standard Testing Facilities”
As automotive winter tires need to meet regulatory standards, tire manufacturers need holistic testing facilities to test their offerings. However, replicating exact winter conditions can be a bit challenging for them to test tire performance. This can restrict market growth by 0.4X during the period of forecast.
However, sensing the gaps, advanced winter tire testing facilities have sprung up near manufacturing hubs to assist manufacturers with the testing facilities, thus supporting market growth over the coming years.
Region-wise Insights
Which Region Accounts for Highest Demand for Winter Tires?
“Demand for Winter Tires Highest in Europe”
The Europe winter tires market accounts for the largest market share of 32.3%, and is projected to expand at a CAGR of 4.9% over the forecast years.
High growth and demand in this region is attributed to the presence of cold climatic conditions, which requires the use of winter tires in automobiles for a considerable time of the year.
How is the North America Winter Tires Market Faring?
“Strict Safety Regulations in North America”
The North America winter tires market holds 28.8% of the global market share, and is set to register 4.5% CAGR over the assessment period of 2022 to 2032.
Market growth in North America is attributed to long prevalence of cold conditions in the region, which leads to additional demand for vehicle winter tires.
In addition to this, winter tires in North America are being certified using a specific test protocol to make sure that these tires meet winter traction performance standards. This allows manufacturers of winter tires to produce premium tires to meet the required standards, which is likely to support high revenue generation.
Category-wise Insights
Which Type of Winter Tires are More Popular?
“Sales of Studded Winter Tires Account for Higher Market Share”
The automobile winter tires market, under product type, is segmented into studded winter tires and stud-less winter tires. Studded tires account for the larger market share of 54.3%.
Studded tires are preferred more as they have metal studs embedded within the treads, and these strong pieces of metal provide added traction. These tires are capable of handling most extreme icy driving conditions. As such, the studded winter tires segment is projected to expand at 3.8% CAGR during the forecast years of 2022 to 2032.
The stud-less winter tires segment holds 45.7% market share and is slated to register 4.5% CAGR over the period of forecast. The segment is expected to register higher growth as these tires are being preferred more now due to unique technologies such as advances in rubber compounding, tread designs, etc.
Which Vehicle Type Accounts for Most Demand for Winter Tires?
“Passenger Vehicles Drive Most Demand for Winter Tires”
Under vehicle type segment, the winter tires market is segmented into passenger vehicles, light commercial vehicles, and heavy commercial vehicles.
Passenger vehicles dominate the market by holding 51.3% market share, and are bound to register 4.7% CAGR during the assessment period. This is because these tires prevent collisions and injuries, and help in reducing fatalities.
Snow tires provide the best traction for passenger vehicles in cold temperatures, and therefore are highly required for the safety of human life while driving in these conditions.
Competitive Landscape: Top Companies in Winter Tires Market
The global winter tires market is highly competitive and fragmented because of the presence of several regional and international players. Marketing strategies such as mergers and acquisitions, expansions, partnerships, and collaborations are being adopted by key winter tire suppliers.
Along with this, new product development is also a strategic approach by companies to expand their presence in the market and garner a wider consumer base.
For instance:
- Bridgestone Corp., in 2021, acquired Azuga Holdings Inc. This acquisition is likely to enhance the company’s development in tire-centric and mobility solutions, thereby leading to improvement in fleet safety, sustainability, and performance.
- Goodyear Tire & Rubber Co., in 2021, announced the completion of the acquisition of Cooper Tire & Rubber Company, which will strengthen its leadership position in tire industry over the coming years.
Fact.MR has provided detailed information about the price points of key manufacturers in the winter tires market positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Winter Tires Industry Research by Segmentations
-
By Product Type :
- Studded
- Stud-less
-
By Vehicle Type :
- Passenger Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
-
By Sales Channel :
- Original Equipment Manufacturers
- Aftermarket
-
By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
Table of Content
- 1. Executive Summary
- 2. Market Overview
- 3. Key Market Trends
- 4. Market Background
- 5. Value Chain Analysis
- 6. Global Market Volume 2017 to 2021 Analysis and Forecast, 2022 to 2032
- 7. Global Market - Pricing Analysis
- 8. Global Market Value 2017 to 2021 Analysis and Forecast, 2022 to 2032
- 9. Global Market 2017 to 2021 Analysis and Forecast 2022 to 2032, By Product Type
- 9.1. Studded Tires
- 9.2. Stud less Tires
- 10. Global Market 2017 to 2021 Analysis and Forecast 2022 to 2032, By Vehicle Type
- 10.1. Passenger Vehicle
- 10.2. Light Commercial Vehicle
- 10.3. Heavy Commercial Vehicle
- 11. Global Market 2017 to 2021 Analysis and Forecast 2022 to 2032, By Sales Channel
- 11.1. Original Equipment Manufacturer
- 11.2. Aftermarket
- 12. Global Market 2017 to 2021 Analysis and Forecast 2022 to 2032, By Region
- 12.1. North America
- 12.2. Latin America
- 12.3. Europe
- 12.4. East Asia
- 12.5. South Asia & Oceania
- 12.6. Middle East and Africa (MEA)
- 13. North America Market 2017 to 2021 Analysis and Forecast 2022 to 2032
- 14. Latin America Market 2017 to 2021 Analysis and Forecast 2022 to 2032
- 15. Europe Market 2017 to 2021 Analysis and Forecast 2022 to 2032
- 16. East Asia Market 2017 to 2021 Analysis and Forecast 2022 to 2032
- 17. South Asia & Oceania Market 2017 to 2021 Analysis and Forecast 2022 to 2032
- 18. Middle East and Africa Market 2017 to 2021 Analysis and Forecast 2022 to 2032
- 19. Key Countries Market Analysis 2017 to 2021 Analysis and Forecast 2022 to 2032
- 20. Market Structure Analysis
- 21. Competition Analysis
- 21.1. Bridgestone Corp.
- 21.2. Continental AG
- 21.3. Michelin
- 21.4. Goodyear Tire & Rubber Co.
- 21.5. Nokian Renkaat Oyj
- 21.6. Pirelli & C. Spa
- 21.7. Yokohama Rubber Company
- 21.8. Hankook Tire Company
- 21.9. Sumitomo Rubber Industries Ltd.
- 21.10. Toyo Tire & Rubber Company
- 22. Assumptions & Acronyms Used
- 23. Research Methodology
List Of Table
Table 1: Global Market Value (USD Billion) and Forecast by Region, 2017 to 2021
Table 2: Global Market Value (USD Billion) and Forecast by Region, 2022 to 2032
Table 3: Global Market Volume (Mn Units) and Forecast by Region, 2017 to 2021
Table 4: Global Market Volume (Mn Units) and Forecast by Region, 2022 to 2032
Table 5: Global Market Value (USD Billion) and Forecast by Product Type, 2017 to 2021
Table 6: Global Market Value (USD Billion) and Forecast by Product Type, 2022 to 2032
Table 7: Global Market Volume (Mn Units) and Forecast by Product Type, 2017 to 2021
Table 8: Global Market Volume (Mn Units) and Forecast by Product Type, 2022 to 2032
Table 9: Global Market Value (USD Billion) and Forecast by Vehicle Type, 2017 to 2021
Table 10: Global Market Value (USD Billion) and Forecast by Vehicle Type, 2022 to 2032
Table 11: Global Market Volume (Mn Units) and Forecast by Vehicle Type, 2017 to 2021
Table 12: Global Market Volume (Mn Units) and Forecast by Vehicle Type, 2022 to 2032
Table 13: Global Market Value (USD Billion) and Forecast by Sales Channel, 2017 to 2021
Table 14: Global Market Value (USD Billion) and Forecast by Sales Channel, 2022 to 2032
Table 15: Global Market Volume (Mn Units) and Forecast by Sales Channel, 2017 to 2021
Table 16: Global Market Volume (Mn Units) and Forecast by Sales Channel, 2022 to 2032
Table 17: North America Market Value (USD Billion) and Forecast by Country, 2017 to 2021
Table 18: North America Market Value (USD Billion) and Forecast by Country, 2022 to 2032
Table 19: North America Market Volume (Mn Units) and Forecast by Country, 2017 to 2021
Table 20: North America Market Volume (Mn Units) and Forecast by Country, 2022 to 2032
Table 21: North America Market Value (USD Billion) and Forecast by Product Type, 2017 to 2021
Table 22: North America Market Value (USD Billion) and Forecast by Product Type, 2022 to 2032
Table 23: North America Market Volume (Mn Units) and Forecast by Product Type, 2017 to 2021
Table 24: North America Market Volume (Mn Units) and Forecast by Product Type, 2022 to 2032
Table 25: North America Market Value (USD Billion) and Forecast by Vehicle Type, 2017 to 2021
Table 26: North America Market Value (USD Billion) and Forecast by Vehicle Type, 2022 to 2032
Table 27: North America Market Volume (Mn Units) and Forecast by Vehicle Type, 2017 to 2021
Table 28: North America Market Volume (Mn Units) and Forecast by Vehicle Type, 2022 to 2032
Table 29: North America Market Value (USD Billion) and Forecast by Sales Channel, 2017 to 2021
Table 30: North America Market Value (USD Billion) and Forecast by Sales Channel, 2022 to 2032
Table 31: North America Market Volume (Mn Units) and Forecast by Sales Channel, 2017 to 2021
Table 32: North America Market Volume (Mn Units) and Forecast by Sales Channel, 2022 to 2032
Table 33: Latin America Market Value (USD Billion) and Forecast by Country, 2017 to 2021
Table 34: Latin America Market Value (USD Billion) and Forecast by Country, 2022 to 2032
Table 35: Latin America Market Volume (Mn Units) and Forecast by Country, 2017 to 2021
Table 36: Latin America Market Volume (Mn Units) and Forecast by Country, 2022 to 2032
Table 37: Latin America Market Value (USD Billion) and Forecast by Product Type, 2017 to 2021
Table 38: Latin America Market Value (USD Billion) and Forecast by Product Type, 2022 to 2032
Table 39: Latin America Market Volume (Mn Units) and Forecast by Product Type, 2017 to 2021
Table 40: Latin America Market Volume (Mn Units) and Forecast by Product Type, 2022 to 2032
Table 41: Latin America Market Value (USD Billion) and Forecast by Vehicle Type, 2017 to 2021
Table 42: Latin America Market Value (USD Billion) and Forecast by Vehicle Type, 2022 to 2032
Table 43: Latin America Market Volume (Mn Units) and Forecast by Vehicle Type, 2017 to 2021
Table 44: Latin America Market Volume (Mn Units) and Forecast by Vehicle Type, 2022 to 2032
Table 45: Latin America Market Value (USD Billion) and Forecast by Sales Channel, 2017 to 2021
Table 46: Latin America Market Value (USD Billion) and Forecast by Sales Channel, 2022 to 2032
Table 47: Latin America Market Volume (Mn Units) and Forecast by Sales Channel, 2017 to 2021
Table 48: Latin America Market Volume (Mn Units) and Forecast by Sales Channel, 2022 to 2032
Table 49: Europe Market Value (USD Billion) and Forecast by Country, 2017 to 2021
Table 50: Europe Market Value (USD Billion) and Forecast by Country, 2022 to 2032
Table 51: Europe Market Volume (Mn Units) and Forecast by Country, 2017 to 2021
Table 52: Europe Market Volume (Mn Units) and Forecast by Country, 2022 to 2032
Table 53: Europe Market Value (USD Billion) and Forecast by Product Type, 2017 to 2021
Table 54: Europe Market Value (USD Billion) and Forecast by Product Type, 2022 to 2032
Table 55: Europe Market Volume (Mn Units) and Forecast by Product Type, 2017 to 2021
Table 56: Europe Market Volume (Mn Units) and Forecast by Product Type, 2022 to 2032
Table 57: Europe Market Value (USD Billion) and Forecast by Vehicle Type, 2017 to 2021
Table 58: Europe Market Value (USD Billion) and Forecast by Vehicle Type, 2022 to 2032
Table 59: Europe Market Volume (Mn Units) and Forecast by Vehicle Type, 2017 to 2021
Table 60: Europe Market Volume (Mn Units) and Forecast by Vehicle Type, 2022 to 2032
Table 61: Europe Market Value (USD Billion) and Forecast by Sales Channel, 2017 to 2021
Table 62: Europe Market Value (USD Billion) and Forecast by Sales Channel, 2022 to 2032
Table 63: Europe Market Volume (Mn Units) and Forecast by Sales Channel, 2017 to 2021
Table 64: Europe Market Volume (Mn Units) and Forecast by Sales Channel, 2022 to 2032
Table 65: East Asia Market Value (USD Billion) and Forecast by Country, 2017 to 2021
Table 66: East Asia Market Value (USD Billion) and Forecast by Country, 2022 to 2032
Table 67: East Asia Market Volume (Mn Units) and Forecast by Country, 2017 to 2021
Table 68: East Asia Market Volume (Mn Units) and Forecast by Country, 2022 to 2032
Table 69: East Asia Market Value (USD Billion) and Forecast by Product Type, 2017 to 2021
Table 70: East Asia Market Value (USD Billion) and Forecast by Product Type, 2022 to 2032
Table 71: East Asia Market Volume (Mn Units) and Forecast by Product Type, 2017 to 2021
Table 72: East Asia Market Volume (Mn Units) and Forecast by Product Type, 2022 to 2032
Table 73: East Asia Market Value (USD Billion) and Forecast by Vehicle Type, 2017 to 2021
Table 74: East Asia Market Value (USD Billion) and Forecast by Vehicle Type, 2022 to 2032
Table 75: East Asia Market Volume (Mn Units) and Forecast by Vehicle Type, 2017 to 2021
Table 76: East Asia Market Volume (Mn Units) and Forecast by Vehicle Type, 2022 to 2032
Table 77: East Asia Market Value (USD Billion) and Forecast by Sales Channel, 2017 to 2021
Table 78: East Asia Market Value (USD Billion) and Forecast by Sales Channel, 2022 to 2032
Table 79: East Asia Market Volume (Mn Units) and Forecast by Sales Channel, 2017 to 2021
Table 80: East Asia Market Volume (Mn Units) and Forecast by Sales Channel, 2022 to 2032
Table 81: South Asia & Oceania Market Value (USD Billion) and Forecast by Country, 2017 to 2021
Table 82: South Asia & Oceania Market Value (USD Billion) and Forecast by Country, 2022 to 2032
Table 83: South Asia & Oceania Market Volume (Mn Units) and Forecast by Country, 2017 to 2021
Table 84: South Asia & Oceania Market Volume (Mn Units) and Forecast by Country, 2022 to 2032
Table 85: South Asia & Oceania Market Value (USD Billion) and Forecast by Product Type, 2017 to 2021
Table 86: South Asia & Oceania Market Value (USD Billion) and Forecast by Product Type, 2022 to 2032
Table 87: South Asia & Oceania Market Volume (Mn Units) and Forecast by Product Type, 2017 to 2021
Table 88: South Asia & Oceania Market Volume (Mn Units) and Forecast by Product Type, 2022 to 2032
Table 89: South Asia & Oceania Market Value (USD Billion) and Forecast by Vehicle Type, 2017 to 2021
Table 90: South Asia & Oceania Market Value (USD Billion) and Forecast by Vehicle Type, 2022 to 2032
Table 91: South Asia & Oceania Market Volume (Mn Units) and Forecast by Vehicle Type, 2017 to 2021
Table 92: South Asia & Oceania Market Volume (Mn Units) and Forecast by Vehicle Type, 2022 to 2032
Table 93: South Asia & Oceania Market Value (USD Billion) and Forecast by Sales Channel, 2017 to 2021
Table 94: South Asia & Oceania Market Value (USD Billion) and Forecast by Sales Channel, 2022 to 2032
Table 95: South Asia & Oceania Market Volume (Mn Units) and Forecast by Sales Channel, 2017 to 2021
Table 96: South Asia & Oceania Market Volume (Mn Units) and Forecast by Sales Channel, 2022 to 2032
Table 97: MEA Market Value (USD Billion) and Forecast by Country, 2017 to 2021
Table 98: MEA Market Value (USD Billion) and Forecast by Country, 2022 to 2032
Table 99: MEA Market Volume (Mn Units) and Forecast by Country, 2017 to 2021
Table 100: MEA Market Volume (Mn Units) and Forecast by Country, 2022 to 2032
Table 101: MEA Market Value (USD Billion) and Forecast by Product Type, 2017 to 2021
Table 102: MEA Market Value (USD Billion) and Forecast by Product Type, 2022 to 2032
Table 103: MEA Market Volume (Mn Units) and Forecast by Product Type, 2017 to 2021
Table 104: MEA Market Volume (Mn Units) and Forecast by Product Type, 2022 to 2032
Table 105: MEA Market Value (USD Billion) and Forecast by Vehicle Type, 2017 to 2021
Table 106: MEA Market Value (USD Billion) and Forecast by Vehicle Type, 2022 to 2032
Table 107: MEA Market Volume (Mn Units) and Forecast by Vehicle Type, 2017 to 2021
Table 108: MEA Market Volume (Mn Units) and Forecast by Vehicle Type, 2022 to 2032
Table 109: MEA Market Value (USD Billion) and Forecast by Sales Channel, 2017 to 2021
Table 110: MEA Market Value (USD Billion) and Forecast by Sales Channel, 2022 to 2032
Table 111: MEA Market Volume (Mn Units) and Forecast by Sales Channel, 2017 to 2021
Table 112: MEA Market Volume (Mn Units) and Forecast by Sales Channel, 2022 to 2032
List Of Figures
Figure 1: Global Market Value (USD Billion) and Volume (Mn Units) Forecast, 2022 to 2032
Figure 2: Global Market Absolute $ Opportunity (USD Billion), 2022 to 2032
Figure 3: Global Market Value (USD Billion) by Region, 2022 & 2032
Figure 4: Global Market Y-o-Y Growth Rate by Region, 2022 to 2032
Figure 5: Global Market Value (USD Billion) by Product Type, 2022 & 2032
Figure 6: Global Market Y-o-Y Growth Rate by Product Type, 2022 to 2032
Figure 7: Global Market Value (USD Billion) by Vehicle Type, 2022 & 2032
Figure 8: Global Market Y-o-Y Growth Rate by Vehicle Type, 2022 to 2032
Figure 9: Global Market Value (USD Billion) by Sales Channel, 2022 & 2032
Figure 10: Global Market Y-o-Y Growth Rate by Sales Channel, 2022 to 2032
Figure 11: North America Market Value (USD Billion) and Volume (Mn Units) Forecast, 2022 to 2032
Figure 12: North America Market Absolute $ Opportunity (USD Billion), 2022 to 2032
Figure 13: North America Market Value (USD Billion) by Country, 2022 & 2032
Figure 14: North America Market Y-o-Y Growth Rate by Country, 2022 to 2032
Figure 15: North America Market Value (USD Billion) by Product Type, 2022 & 2032
Figure 16: North America Market Y-o-Y Growth Rate by Product Type, 2022 to 2032
Figure 17: North America Market Value (USD Billion) by Vehicle Type, 2022 & 2032
Figure 18: North America Market Y-o-Y Growth Rate by Vehicle Type, 2022 to 2032
Figure 19: North America Market Value (USD Billion) by Sales Channel, 2022 & 2032
Figure 20: North America Market Y-o-Y Growth Rate by Sales Channel, 2022 to 2032
Figure 21: North America Market Attractiveness Analysis by Country, 2022 to 2032
Figure 22: North America Market Attractiveness Analysis by Product Type, 2022 to 2032
Figure 23: North America Market Attractiveness Analysis by Vehicle Type, 2022 to 2032
Figure 24: North America Market Attractiveness Analysis by Sales Channel, 2022 to 2032
Figure 25: Latin America Market Value (USD Billion) and Volume (Mn Units) Forecast, 2022 to 2032
Figure 26: Latin America Market Absolute $ Opportunity (USD Billion), 2022 to 2032
Figure 27: Latin America Market Value (USD Billion) by Country, 2022 & 2032
Figure 28: Latin America Market Y-o-Y Growth Rate by Country, 2022 to 2032
Figure 29: Latin America Market Value (USD Billion) by Product Type, 2022 & 2032
Figure 30: Latin America Market Y-o-Y Growth Rate by Product Type, 2022 to 2032
Figure 31: Latin America Market Value (USD Billion) by Vehicle Type, 2022 & 2032
Figure 32: Latin America Market Y-o-Y Growth Rate by Vehicle Type, 2022 to 2032
Figure 33: Latin America Market Value (USD Billion) by Sales Channel, 2022 & 2032
Figure 34: Latin America Market Y-o-Y Growth Rate by Sales Channel, 2022 to 2032
Figure 35: Latin America Market Attractiveness Analysis by Country, 2022 to 2032
Figure 36: Latin America Market Attractiveness Analysis by Product Type, 2022 to 2032
Figure 37: Latin America Market Attractiveness Analysis by Vehicle Type, 2022 to 2032
Figure 38: Latin America Market Attractiveness Analysis by Sales Channel, 2022 to 2032
Figure 39: Europe Market Value (USD Billion) and Volume (Mn Units) Forecast, 2022 to 2032
Figure 40: Europe Market Absolute $ Opportunity (USD Billion), 2022 to 2032
Figure 41: Europe Market Value (USD Billion) by Country, 2022 & 2032
Figure 42: Europe Market Y-o-Y Growth Rate by Country, 2022 to 2032
Figure 43: Europe Market Value (USD Billion) by Product Type, 2022 & 2032
Figure 44: Europe Market Y-o-Y Growth Rate by Product Type, 2022 to 2032
Figure 45: Europe Market Value (USD Billion) by Vehicle Type, 2022 & 2032
Figure 46: Europe Market Y-o-Y Growth Rate by Vehicle Type, 2022 to 2032
Figure 47: Europe Market Value (USD Billion) by Sales Channel, 2022 & 2032
Figure 48: Europe Market Y-o-Y Growth Rate by Sales Channel, 2022 to 2032
Figure 49: Europe Market Attractiveness Analysis by Country, 2022 to 2032
Figure 50: Europe Market Attractiveness Analysis by Product Type, 2022 to 2032
Figure 51: Europe Market Attractiveness Analysis by Vehicle Type, 2022 to 2032
Figure 52: Europe Market Attractiveness Analysis by Sales Channel, 2022 to 2032
Figure 53: East Asia Market Value (USD Billion) and Volume (Mn Units) Forecast, 2022 to 2032
Figure 54: East Asia Market Absolute $ Opportunity (USD Billion), 2022 to 2032
Figure 55: East Asia Market Value (USD Billion) by Country, 2022 & 2032
Figure 56: East Asia Market Y-o-Y Growth Rate by Country, 2022 to 2032
Figure 57: East Asia Market Value (USD Billion) by Product Type, 2022 & 2032
Figure 58: East Asia Market Y-o-Y Growth Rate by Product Type, 2022 to 2032
Figure 59: East Asia Market Value (USD Billion) by Vehicle Type, 2022 & 2032
Figure 60: East Asia Market Y-o-Y Growth Rate by Vehicle Type, 2022 to 2032
Figure 61: East Asia Market Value (USD Billion) by Sales Channel, 2022 & 2032
Figure 62: East Asia Market Y-o-Y Growth Rate by Sales Channel, 2022 to 2032
Figure 63: East Asia Market Attractiveness Analysis by Country, 2022 to 2032
Figure 64: East Asia Market Attractiveness Analysis by Product Type, 2022 to 2032
Figure 65: East Asia Market Attractiveness Analysis by Vehicle Type, 2022 to 2032
Figure 66: East Asia Market Attractiveness Analysis by Sales Channel, 2022 to 2032
Figure 67: South Asia & Oceania Market Value (USD Billion) and Volume (Mn Units) Forecast, 2022 to 2032
Figure 68: South Asia & Oceania Market Absolute $ Opportunity (USD Billion), 2022 to 2032
Figure 69: South Asia & Oceania Market Value (USD Billion) by Country, 2022 & 2032
Figure 70: South Asia & Oceania Market Y-o-Y Growth Rate by Country, 2022 to 2032
Figure 71: South Asia & Oceania Market Value (USD Billion) by Product Type, 2022 & 2032
Figure 72: South Asia & Oceania Market Y-o-Y Growth Rate by Product Type, 2022 to 2032
Figure 73: South Asia & Oceania Market Value (USD Billion) by Vehicle Type, 2022 & 2032
Figure 74: South Asia & Oceania Market Y-o-Y Growth Rate by Vehicle Type, 2022 to 2032
Figure 75: South Asia & Oceania Market Value (USD Billion) by Sales Channel, 2022 & 2032
Figure 76: South Asia & Oceania Market Y-o-Y Growth Rate by Sales Channel, 2022 to 2032
Figure 77: South Asia & Oceania Market Attractiveness Analysis by Country, 2022 to 2032
Figure 78: South Asia & Oceania Market Attractiveness Analysis by Product Type, 2022 to 2032
Figure 79: South Asia & Oceania Market Attractiveness Analysis by Vehicle Type, 2022 to 2032
Figure 80: South Asia & Oceania Market Attractiveness Analysis by Sales Channel, 2022 to 2032
Figure 81: MEA Market Value (USD Billion) and Volume (Mn Units) Forecast, 2022 to 2032
Figure 82: MEA Market Absolute $ Opportunity (USD Billion), 2022 to 2032
Figure 83: MEA Market Value (USD Billion) by Country, 2022 & 2032
Figure 84: MEA Market Y-o-Y Growth Rate by Country, 2022 to 2032
Figure 85: MEA Market Value (USD Billion) by Product Type, 2022 & 2032
Figure 86: MEA Market Y-o-Y Growth Rate by Product Type, 2022 to 2032
Figure 87: MEA Market Value (USD Billion) by Vehicle Type, 2022 & 2032
Figure 88: MEA Market Y-o-Y Growth Rate by Vehicle Type, 2022 to 2032
Figure 89: MEA Market Value (USD Billion) by Sales Channel, 2022 & 2032
Figure 90: MEA Market Y-o-Y Growth Rate by Sales Channel, 2022 to 2032
Figure 91: MEA Market Attractiveness Analysis by Country, 2022 to 2032
Figure 92: MEA Market Attractiveness Analysis by Product Type, 2022 to 2032
Figure 93: MEA Market Attractiveness Analysis by Vehicle Type, 2022 to 2032
Figure 94: MEA Market Attractiveness Analysis by Sales Channel, 2022 to 2032
- FAQs -
What is the current valuation of the global winter tires market?
The global winter tires market is estimated at US$ 24.1 Bn in 2022.
How big is the market expected to become over the forecasted period?
Global demand for winter tires is anticipated to surpass US$ 36.6 Bn by 2032-end.
At what rate did the winter tires market expand over the past 5 years?
From 2017 to 2021, the global market for winter tires expanded at 2.8% CAGR.
Who are the main manufacturers of winter tires?
Prominent players in the winter tires market are Bridgestone Corp., Continental AG, Michelin, Goodyear Tire & Rubber Co., and Nokian Renkaat Oyj.
Which region leads the global winter tires market?
Europe tops the global winter tires market accounting for 32.3% market share in 2022.
Which type of winter tire accounts for highest sales?
Studded winter tires hold 54.3% share in the global sales of winter tires.
Winter Tires Market