Press release
Automotive Tire Socks Market Size & Share - Industry Trend and Forecast 2017 - 2025
The main objective of this report is to define, describe, and forecast the global “Automotive Tire Socks” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market.
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Automotive tire socks are reusable tire snow socks that are pulled over the driving wheels of vehicles, which need extra grip on ice or snow. Automotive tire socks have emerged as a recent trend and are being thought of as an alternative for tire chains. Automotive tire socks are available in various sizes to fit almost all cars, vans, trucks, buses, and forklift tires. The grip is achieved through friction and specially developed high tech textiles. Unlike conventionally used tire chains, tire socks do not have any metal parts. Thus, they create less vibration and noise when in operation. The strong textile surface with which they are coated enhances their grip on the road.
The use of tire socks as replacement for tire chains is being accepted globally by various government and regulatory bodies. This is expected to boost the automotive tire socks market in the near future. Tire socks provide various advantages over tire chains. These include better grip on the road surface, easy installation, no wear and tear, and no damage to the tire when being used. This is expected to propel the automotive tire socks market during the forecast period.
Performance of tire socks in terms of braking and gripping enhances due to ultra-absorbing capacity of the textile. Several regions such as Russia, Northern Canada, Sweden, Scandinavia, and Northern Europe experience severe winter with heavy snowfall. Fatal accidents have occurred in these regions owing to the reduced traction between automotive wheels and the snow-covered ground. This has resulted in an increase in awareness about the need for safety and security in these regions. This is anticipated to augment the automotive tire socks market in the near future.
A vehicle needs to be moved while fitting automotive tire socks. This can lead to inconvenience during fitting. Furthermore, once torn or worn after use over a period of time, tire socks can be useless unlike tire chains. These minor drawbacks of automotive tire socks over tire chains can hamper the automotive tire socks market during the forecast period.
Based on type of vehicle, the automotive tire socks market can be segmented into cars, vans, trucks, buses, and forklifts. The type of the vehicle decides the dimensions of tire socks to be used. The vehicles segment can also be bifurcated into passenger vehicles and commercial vehicles. Passenger vehicles are further sub-segmented into hatchback, sedan, multi-purpose vehicle (MPV), and sports utility vehicle (SUV). Commercial vehicles can be further segmented into light commercial vehicle (LCV) and heavy commercial vehicle (HCV).
Based on geography, the automotive tire socks market can be divided into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America and Europe are estimated to drive the automotive tire socks market during the forecast period owing to the presence of countries experiencing high snowfall in these regions. Countries and sub-regions in Asia Pacific witness comparatively lower snowfall than that in Europe and North America. Most of the demand for tire socks in Asia Pacific comes from alpine areas such as Australia, Northern China, and India, where it snows to some extent.
Key players operating in the automotive tire socks market include MICHELIN, Joubert Productions sas, AutoSock, ISSE SAFETY, S.L., TireSocks Inc., and NOVOTOOL INDUSTRIAL CO., LTD.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market
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