Automotive Industry Surge Fuels Demand For Winter Tires Driving Market Acceleration in the Winter Tire Industry, 2025

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How Large Will the Winter Tire Market Size By 2025?
The winter tire market size has grown strongly in recent years. It will grow from $24.68 billion in 2024 to $26.13 billion in 2025 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to seasonal demand, government regulations, safety concerns, automotive industry growth, consumer awareness, insurance premium reductions.

How Big Is the Winter Tire Market Size Expected to Grow by 2029?
The winter tire market size is expected to see strong growth in the next few years. It will grow to $33.45 billion in 2029 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to climate change impact, regulatory support, rising disposable income, winter tourism, global expansion of winter conditions, public awareness programs. Major trends in the forecast period include adoption of studdles tires, advancements in tire technology, sustainability and eco-friendly materials, online tire sales and e-commerce growth, performance-oriented winter tires.

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Which Key Market Drivers Powering Winter Tire Market Expansion and Growth?
The rising growth of the automobile industry is expected to propel the growth of the winter tires market going forward. The automotive industry refers to an industry involved in designing, manufacturing, wholesale, retailing, and maintaining motor vehicles. Winter tires are used in automobiles to provide good traction in extreme cold, and on icy, snowy, or slushy roads, whereas rubber used in tires remains softer that makes it more flexible, allowing the tire to conform to the road and provide better performance in extremely cold conditions. Moreover, countries with cold climates are mandating the usage of winter tires, amid safety concerns and fuel efficiency which results in increased demand for winter tires. For instance, in November 2022, according to the Society of Motor Manufacturers and Traders (SMMT), a UK-based trade association of motor vehicles, UK's car production has risen to 7.4% to 69,524 units as compared to the previous years. Therefore, the rising growth of the automotive industry is driving the growth of the winter tires market.

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Which Fast-Growing Trends Are Poised to Disrupt the Winter Tire Market?
Product innovation is a key trend gaining popularity in the winter tires market. Major companies operating in the winter tires market are focused on developing innovative products to strengthen their position in the market. For instance, in June 2024, Apollo Tyres, an India-based tyre producing company, launched the Vredestein Wintrac Pro+, a premium winter tyre designed for ultra-high-performance cars and SUVs, including the latest generation of electric vehicles focused on performance. The new tyre features an advanced tread compound that enhances grip, traction, and braking on snow, slush, and ice, while also reducing rolling resistance for better fuel efficiency or extended driving range. It maintains the Wintrac Pro's excellent wet grip and industry-leading durability. To improve performance on snowy surfaces, the Wintrac Pro+ incorporates a tailor-made blend of next-generation polymers and resins, allowing the tread blocks to remain flexible even in extremely cold temperatures.

What Are the Emerging Segments in the Winter Tire Market?
The winter tire market covered in this report is segmented -

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

Subsegments:
1) By Studded: Metal Studded Tires, Ceramic Studded Tires
2) By Stud-Less: All-Weather Winter Tires, Performance Winter Tires, Touring Winter Tires

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Who Are the Global Leaders in the Winter Tire Market?
Major companies operating 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., Maxxis International GmbH, Compagnie Générale des Établissements Michelin SCA, Nankang Rubber Tire Corp. Ltd., Nexen Tire Corporation, Nokian Tyres plc, Pirelli & C. S.p.A, Sailun Group Co. Ltd., Shandong Linglong Tire Co. Ltd., Sumitomo Rubber Industries Ltd., Toyo Tire Corporation, Triangle Group Ltd., Yokohama Rubber Company Limited, Zhongce Rubber Group Co. Ltd., CEAT Limited, Cooper Tire & Rubber Co., Giti Tire Pte Ltd., Vredestein Tyres, Westlake Tyres, Xingyuan Tire Group Co. Ltd., ZC Rubber Group Co. Ltd., Zhejiang Double Arrow Rubber Co. Ltd.

Which are the Top Profitable Regional Markets for the Winter Tire Industry?
Europe was the largest region in the winter tire market in 2024. The regions covered in the winter tire market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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