Global Winter Tire Market: Key Facts and Forecast Predictions Presented Until 2028 || Top Market Players- Bridgestone Corp., Continental AG, Goodyear Tire & Rubber Co., Nokian Renkaat Ojy, Yokohama Rubber Company, Hankook Tire Company, Sumitomo Rubber Ind
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A combination of macroeconomic and industry-specific factors is influencing demand for winter tires. Government regulation mandating the use of winter tires is an important driver for the overall supply chain. During the period 2014-2018, favorable regulations mandating the use of winter tires have given a fillip to the overall market.
Countries with harsher winters, such as the US, UK, Canada, Germany, and Scandinavian countries have enacted laws to make winter tires mandatory under certain conditions. In Scandinavian countries, the regulations on winter tire use are stringer in the heavy commercial vehicle (HCV) segment. A significant spike in demand has been witnessed after regulations were introduced in these countries.
Winter Tire Testing: A Challenge for Manufacturers
Replicating the exact wintry conditions to test the performance of tires continues to be a challenge for winter tire manufacturers. Winter conditions can be extreme, and tire manufacturers often need assistance of holistic testing facilities to know how their offerings will actually perform under typical wintry conditions.
Sensing the gaps in the market, advanced winter tire testing facilities have sprung up near manufacturing hubs. For example, Test World is on an expansion spree, and has bought additional land in Finland to meet future demand for tire testing. Test World has been worked extensively with Hanook Tire, and built up its testing facility in Finland.
Manufacturers Eyeing Lucrative European Winter Tire Market to Consolidate their Position
Europe has traditionally remained a lucrative market for winter tires globally. Many countries in Europe have harsh winters, which makes driving a challenging prospect. The fact that a number of European countries have made winter tires mandatory during certain months has led to a spike in demand. For example, Nokian Tires, one of the leading names in the global winter tires market, has a strong presence all over Europe. Also, Continental Scandinavia winter tires are specially designed to meet the extreme winter conditions in Scandinavian countries. Overall, Europe will continue to be strategically important for winter tire manufacturers
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Independent Aftermarket Accounted for 52% of Global Winter Tire Sales in 2017
End-users show a marked preference for independent aftermarket, with this sales channel accounting for nearly 52% volume share of the market in 2017. The status quo is likely to remain unchanged during Fact.MR’s review period, OES maintaining its position as the second prominent sales channel.
Table of Content:
1.1. Summarizing Key Findings
1.2. Wheel of Fortune
1.3. Selected announcement for restricting measures
1.4. Opportunity Assessment
1.5. Mega Trends
1.6. Competition Blueprint
1.7. Market Taxonomy
Global Winter Tire Market Introduction
2.1. Winter Weather and Car Accidents - How Real is the Danger?
2.2. Weather-Related Crash Statistics
2.3. Different climates cause different tire requirements
2.4. Why Winter Tires?
2.5. Winter Tire Myths
2.6. When to Install Winter Tires?
2.7. Tire Comparison
2.8. Winter Tire Requirements
2.9. Traction and Braking by Tire Types
2.10. Winter Tire Regulations
2.11. Winter Tire Penetration
Global Winter Tire Industry Overview
3.1. Global Tire Industry Scenario
3.2. Tire Industry Roadmap
3.3. Winter Tire Production Capacity Distribution
3.4. Global Winter Tire Market Value & Volume Forecast and Analysis
3.5. Forecast Factors
3.6. Trade Analysis
3.7. Supply Demand Scenario
3.8. Supply Chain
3.9. Market Dynamics
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