According to TMR, the global winter tire market is projected to collect revenue of US$ 37.20 Bn by the end of 2031 in terms of revenue. The market is expected to swell with a CAGR of 4.96% over the forecast period from 2022 to 2031
Based on tire type, the non-studded tire segment is likely to dominate the market by expanding at a prominent growth rate over the forecast period. Based on the vehicle type, the passenger vehicle segment held lion’s share in the winter tire market and is predicted to continue its dominance in the market over the forecast period. Based on the region, Europe is expected to stand at a significant market for winter tires followed by Russia and North America. This is attributable to the presence of stringent government norms and harsh winters in Europe.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐖𝐢𝐧𝐭𝐞𝐫 𝐓𝐢𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 – https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=45300
𝐑𝐢𝐬𝐢𝐧𝐠 𝐈𝐦𝐩𝐨𝐫𝐭𝐚𝐧𝐜𝐞 𝐨𝐟 𝐃𝐫𝐢𝐯𝐢𝐧𝐠 𝐒𝐚𝐟𝐞𝐭𝐲 𝐏𝐫𝐨𝐩𝐞𝐥𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡
Rising interest for driving security is boosting the interest for winter tires. Summer or all-season tires become solid at low temperatures and subsequently, lose footing. Vehicles outfitted with winter tires are said to stop at a 30% shorter separation than a vehicle furnished with all-season or summer tires. Winter tires empower better braking and vehicle moving in virus atmospheres and consequently, an expanding number of shoppers are embracing winter tires.
Stringent winter tire guidelines sanctioned in Europe and Russia is an essential driver of the winter tire market in Europe and Russia. Winter tires are compulsory in a few nations in Europe, for example, Austria, the Czech Republic, Estonia, and Latvia. In 1999, the winter law was passed in Sweden and crash rates were analyzed for post-enactment period and pre-enactment period. A decrease in crash by 11% to 14% was watched.
𝐁𝐮𝐲 𝐭𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 | 𝐈𝐦𝐦𝐞𝐝𝐢𝐚𝐭𝐞 𝐃𝐞𝐥𝐢𝐯𝐞𝐫𝐲 𝐀𝐯𝐚𝐢𝐥𝐚𝐛𝐥𝐞 𝐚𝐭 https://www.transparencymarketresearch.com/checkout.php?rep_id=45300<ype=S
Transparency Market Research (TMR) witnesses that the global winter tire market has a significantly competitive vendor landscape owing to the dominance of few players. Bridgestone Corporation, Continental AG, Nokian Tyres plc, Nexen Tire Corporation, The Goodyear Tire & Rubber Company, Sumitomo Rubber Industries, Ltd., Pirelli & C.S.p.A., The Yokohoma Rubber Co., Ltd., and Hangzhou Zhongce Rubber Co., Ltd. are some of the key players in the global winter tire market.