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Automotive Snow Chain Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017–2025
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Advanced vehicle technologies such as stability and traction control in conjunction with automotive snow chains have enhanced passenger safety
U.S., Canada, Russia, and few countries in North Europe are faced with extreme low temperatures and excessive snowfall during winters. This necessitates use of wheel enhance to increase vehicle traction on these roads. These wheel enhancements complement advanced stability and traction control systems integrated in vehicles targeted for these regions. This creates a highly conducive environment for growth of the automotive snow chain market.
In June 2017, Michelin Lifestyle Limited introduced Michelin Easy Grip—a next generation composite product that provides enhanced performance and is featured with lesser installation and removal time. The product features also include quieter driving with no damage to the road surfaces. Certain vendors have introduced reflective light vision in these products to provide better visibility in the snowy and dark weather conditions. Players in this market are constantly focusing on R&D to introduce advanced products in order to sustain in this highly competitive market
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Automotive Snow Chain Market Taxonomy
On the basis of material, the global automotive snow chain market is classified into:
Steel
Polyurethane
Rubber
Fabric
Others
On the basis of end use, the global automotive snow chain market is classified into:
Passenger car & LCV
Agricultural vehicles
ATV
HCV
Others
Automatic snow chains is expected to present considerable growth opportunities
Automatic snow chain system allows the user to install snow chains by flipping a switch from inside the automotive that activates solenoid, which influences the positioning of these to contact the tire. Owing to the continuous movement of the vehicle, the material covers the entirety of the tires to provide traction. Along with time saving, these equipment also enhances the costs savings through low maintenance in conjunction with advanced safety of the user in weather extremities, is projected to garner large consumer inclination towards adoption of these systems.
Varying regulations by country and states creates a major hurdle for market players
Most states in the U.S. has varying regulations for the utilization of these tire enhancements. There are some states such as Florida, Hawaii, New Hampshire, Washington, D.C., and Vermont who has no restrictions on their use. Some countries such as France, Germany, Hungary, and the Netherlands have prohibited the usage of studded tires. Some countries have regulations permitting their use only during certain months of the year. This is expected to be a major growth barrier for the industry. Usage of metal studded enhancements causes substantial damage to the roads as well as vehicles. This dissuades consumers for opting for these. Speed limitations and excessive efforts to tow the vehicle in case of breakdown are some other challenges that may hinder the industry growth prospects.
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Canada has witnesses few of the largest snowfall volumes in the world, especially in regions such as Winnipeg, Saskatoon, and Alberta. This positions the country as a highly lucrative market for automotive snow chains. North America and Europe are expected to remain the major stakeholders of the market products over the forecast period.
The market is characterized by the presence of multiple players with comparable market shares. Prominent players in the automotive snow chain market include Pewag, RUD Chain, Thule Group (Thule Snow Chains), APV Safety Products, MOOSE UTILITY DIVISION, Autoliv, Maggi Group, BABAC, Peerless Industrial Group, MICHELIN, Spikes Spider, Lianyi Rubber Components Co., Chainco, Ottinger, Gowin, Laclede Chain Manufacturing Company, Hangzhou Felice chain Co. Ltd, and Trygg.
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