Winter Tire Market Size and Forecast 2023-2032| Bridgestone Corporation, Continental AG, Michelin, Goodyear Tire and Rubber Company, Nokian Tyres PLC.

The Winter Tire Global Market Report 2023, provides comprehensive information on the winter tire market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.

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The global winter tire market size is expected to grow from $22.16 billion in 2022 to $23.49 billion in 2023 at a compound annual growth rate (CAGR) of 6.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global winter tire market size is expected to reach $28.76 billion in 2027 at a CAGR of 5.2%.

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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 March 2021, Goodyear Tire & Rubber Company, a US-based multinational tire manufacturing company, introduced UltraGrip Arctic 2 tire, a studded tire for passenger cars and SUVs for unbeaten ice braking, snow braking & handling performance. UltraGrip Arctic 2 tire’s unique features include an arctic eagle claw stud, snow grip technology, and noise control that provides strong performance in all snow conditions through wider grooves and higher edge density with optimal ice grip and an innovative anchoring system for improved stud retention which enables ice performance throughout the lifetime of the tire.

The winter tire market 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, Aftermarket

Europe was the largest region in the winter tire market in 2022.

The table of contents in TBRC’s winter tire market report includes:

1. Executive Summary

2. Winter Tire Market Characteristics

3. Winter Tire Market Trends And Strategies

4. Winter Tire Market – Macro Economic Scenario

5. Winter Tire Market Size And Growth

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26. Africa Winter Tire Market

27. Winter Tire Market Competitive Landscape And Company Profiles

28. Key Mergers And Acquisitions In The Winter Tire Market

29. Winter Tire Market Future Outlook and Potential Analysis

30. Appendix

 Top Major Players:

• Bridgestone Corporation
• Continental AG
• Michelin
• Goodyear Tire and Rubber Company
• Nokian Tyres PLC

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