Global All Weather Tire Market, By Rim Size (12’’–17’’, 18’’–21’’, >22’’), Sales Channel (OEM, Aftermarket), Vehicle Type (Passenger Cars, LCV, HCV) – Industry Trends and Forecast to 2029.
Market Analysis and Size
All-weather tires are being highly utilized on all types of vehicles as they are specifically designed to be used at all temperatures above 7 degrees Celsius. These are considered suitable in most areas and the majority of the year. These tires aim at protecting the wheel rim, and provide tractive force between the vehicle and road surface.
Global All Weather Tire Market was valued at USD 171.79 billion in 2021 and is expected to reach USD 250.93 billion by 2029, registering a CAGR of 4.30% during the forecast period of 2022-2029. “Passenger Cars” accounts for the largest vehicle type segment in the respective market owing to the high consumer preference for economic vehicles. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Market Definition
All-weather tires refer to the type of tires that are known to provide acceptable performance in wet, dry and traction in snow. These tires are possess moderate tread depths and rubber compounds that deliver longer tread life than summer tires. They are specifically built for the average driver.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Forecast Period
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2022 - 2029
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Rim Size (12’’–17’’, 18’’–21’’, >22’’), Sales Channel (OEM, Aftermarket), Vehicle Type (Passenger Cars, LCV, HCV)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa
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Market Players Covered
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Continental AG (Germany), Bridgestone Corporation (Japan), Michelin (France), The Goodyear Tyre & Rubber Company (US), Pirelli & C. S.p.A. (Italy), Sumitomo Corporation (Japan), Yokohama Tire Corporation (Japan), Hankook Tire & Technology Co.,Ltd. (South Korea), Nokian Tyres plc (Finland), CEAT Ltd. (India), Toyo Tire Corporation (Japan), Shandong Tang Ren Import and Export Trading Co., Ltd. (China), Hebei Huichao Machinery Parts Co., Ltd. (China), Zhejiang PDW Industrial Co., Ltd. (China), Jiangxi Deyou Technology Co., Ltd. (China), Pengda Rubber Product Factory (China), Qingdao Keter Tyre Co.Limited Trading Company (China), Shandong Juling Group (China), Aliner Automotive Equipments Pvt. Ltd. (India), Auto Tool Equipment Solution (India), among others
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Market Opportunities
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All Weather Tire Market Dynamics
Drivers
- Increased Vehicle Production
The increase in the demand for high performance and reliability of automobiles among consumers acts as one of the major factor driving the growth of all-weather tire market. The rise in demand for these enhanced vehicles escalate vehicle production.
- Change in Consumer Preferences
The change in the buying preferences of consumers accelerate the market growth. An automotive clutch is known to be an integral part of passenger vehicles that offer various comfort features to consumers.
- Government Initiatives
The increase in initiatives taken by governments and other regulatory organizations on developing and proposing regulations and programs for labeling tires further influence the market. The labelling of tires ensures enhancement in vehicle efficiency, and reduction in adverse effects of conventional tires on the environment.
Additionally, expansion of the automotive sector, surge in investments and increased disposable income positively affect the all-weather tire market.
Opportunities
Furthermore, increase the demand for different types of tires extends profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, surge in investments will further escalate the growth of clutch market.
Restraints/Challenges faced by the All Weather Tire Market
On the other hand, high cost associated with initial investments is expected to obstruct market growth. Also, low awareness and limited adoption are projected to challenge the all-weather tire market in the forecast period of 2022-2029.
This all-weather tire market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the all-weather tire market contact Data Bridge Market Research for an Analyst Brief. Our team will help you take an informed market decision to achieve market growth.
COVID-19 had a Major Impact on All Weather Tire Market
The COVID-19 had a negative impact on the all-weather tire market owing to the strict lockdowns and social distancing to contain the spread of the virus. The economic uncertainty, partial shutdown of the business and low consumer confidence impacted demand for all-weather tire. The supply chain got hampered during the pandemic along with delay logistics activities. However, the all-weather tire market is expected to regain its pace during the post pandemic scenario due to the easing on the restrictions.
Global Clutch Market Scope
The all-weather tire market is segmented on the basis of rim size, sales channel and vehicle type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Rim Size
- 12’’–17’’
- 18’’–21’’
- >22’’
Sales Channel
- OEM
- Aftermarket
Vehicle Type
- Passenger Cars
- LCV
- HCV
All Weather Tire Market Regional Analysis/Insights
The all-weather tire market is analyzed and market size insights and trends are provided by country, type, rim size, sales channel and vehicle type.
The countries covered in the all-weather tire market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific (APAC) dominates the all-weather tire market because of the increased demand for tires owing to the rise in industrial development, and construction activities within the region.
Europe is expected to witness significant growth during the forecast period of 2022 to 2029 due to the high demand for passenger cars and large number of automotive manufacturers in the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and All Weather Tire Market Share Analysis
The all-weather tire market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to all-weather tire market.
Some of the major players operating in the all-weather tire market are
- Continental AG (Germany)
- Bridgestone Corporation (Japan)
- Michelin (France)
- The Goodyear Tyre & Rubber Company (US)
- Pirelli & C. S.p.A. (Italy)
- Sumitomo Corporation (Japan)
- Yokohama Tire Corporation (Japan)
- Hankook Tire & Technology Co.,Ltd. (South Korea)
- Nokian Tyres plc (Finland)
- CEAT Ltd. (India)
- Toyo Tire Corporation (Japan)
- Shandong Tang Ren Import and Export Trading Co., Ltd. (China)
- Hebei Huichao Machinery Parts Co., Ltd. (China)
- Zhejiang PDW Industrial Co., Ltd. (China)
- Jiangxi Deyou Technology Co., Ltd. (China)
- Pengda Rubber Product Factory (China)
- Qingdao Keter Tyre Co.Limited Trading Company (China)
- Shandong Juling Group (China)
- Aliner Automotive Equipments Pvt. Ltd. (India)
- Auto Tool Equipment Solution (India)
The key
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