Latest industry analysis by Fact MR, predicts Studded Winter Tires sales to swell at propelled CAGR through 2031, as automotive sales gradually recover across the world. The report is intended at presenting insights into hidden growth opportunities and challenges. It also offers recommendations to help businesses to prep for unforeseen challenges.
The report offers actionable and valuable market insights of Studded Winter Tires. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Studded Winter Tires Market across various industries and regions.
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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Studded Winter Tires market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Studded Winter Tires
This newly published and insightful report sheds light on Market Insights of Studded Winter Tires, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Studded Winter Tires Market.
The penetration of winter tires continues to gain ground in heavy commercial and light commercial vehicles – a trend that is complementing the steady demand from passenger cars segment. According to Fact.MR study, nearly 220 million units were sold in 2017, with passenger cars accounting for over 50% of sales.
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Succeeding chapters in the report impart in-depth analysis, actionable insights and accurate forecasts on the global winter tires market, in terms of a segmentation analysis.
The global market for winter tires has been categorized into five key segments, namely, product type, vehicle type, sales channel, width, and region.
The vehicle type segment has further been classified on the basis of the tire size required.
The report also offers value- and volume-based forecast on the winter tires market across the regional segments.
Drawing inferences from key regional trends that contribute to the winter tire market’s growth, estimations and forecasts on the regional markets have been evaluated. The report further examines the degree at which global trends are affecting the market expansion in each region.
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The preference towards larger rim sizes is gaining ground. This trend is pervasive across all vehicle types – two wheelers, passenger cars, LCV, and HCV. Nearly 60 million 16”-19” passenger car winter tires were sold in 2017, which was the highest across all vehicle classes.
Winter tire manufacturers are not oblivious to the emerging opportunities in this fledgling landscape. In a bid to consolidate their market position, key market participants are focusing on launching advanced winter tires that offer optimal performance under rapid temperature changes.
Premium winter tire companies are making incremental improvements – both in terms of technical upgrades and addition of new sizes. For example, Nokian Tyres added new sizes to WR A4, its flagship winter tyre range for Central Europe. The company has made these premium winter tyres available in modern electric cars as well. Continental AG also launched its new range of Winter Contact TS 860 S tires. These premium tires are available in 18”-21” size range, and are targeted at highly motorized vehicles.
Asian winter tire manufacturers Hankook Tire and Yokohama Tire also have a significant penetration in this landscape, with cost being the key differentiator. Although Fact.MR’s study revealed that end-users prefer premium winter tires owing to positive perception and reliability, Asian manufacturers are steadily gaining traction as the market makes a steady shift from niche to mainstream.
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Fact.MR, in its new report, offers an unbiased Market Analysis of Studded Winter Tires, Sales and Demand of Studded Winter Tires, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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