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Automotive Tire Chains Market in Passenger Segment is Projected to Grow Exponentially By 2025

12-11-2019 04:38 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Global Market Research

Automotive Tire Chains Market

Automotive Tire Chains Market

The automotive tire chains market based on vehicle can be categorized into passenger and commercial vehicles. The growth in the passenger vehicles can be attributed to the increasing requirement for personal mobility solutions globally. Moreover, the availability of a wide range of vehicle models across diversified price range with two-wheel drive engine alternatives for lowering the overall vehicle cost further expands the segment size.

Based on product, the automotive tire chains market share is segmented into rubber, metal, and others. The growth in the rubber chains can be attributed to the benefits offered including easier fitment along with higher flexibility of the material to any tire size. Moreover, the lower damages to the original tire along with minimum maintenance requirements further accentuates the segment size over the study period.

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Supporting government regulations for promoting the usage of automotive tire chains across certain roads and corridors are providing a positive outlook for the automotive tire chains market expansion over the projected timeframe. For instance, in 2018, the Nevada Department of Transportation announced the mandatory fitment of chains for driving across certain routes across the state.

The continuous usage of tire chains in vehicles with significantly higher power output tend to affect the brake lines negatively. Moreover, the performance vehicles usually have lower space in between the wheels and the suspension system, that may lead to the tire chains to get stuck, thereby causing sensor malfunctioning. Industry players are continuously testing multiple materials for use in the tire chains for overcoming the issues.

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Automotive Tire Chains Market, By Product, 2013 - 2025 (USD Million)
• Rubber
• Metal
• Others
Automotive Tire Chains Market, By Vehicle, 2013 - 2025 (USD Million)
• Passenger Vehicles
• Commercial Vehicles

Asia Pacific automotive tire chains market size will grow significantly over the study period. This can be credited to the availability of low-cost chain alternatives for multiple vehicle models. Moreover, governments across the region are actively promoting the fitment of chains for safety during driving in snow conditions. For instance, the Japanese government is planning for regulations to mandate the usage of chains during heavy snow situations across the country.

Contact us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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