Fact.MR has recently published a new study titled “Winter Tires Market Forecast, Trend Analysis & Competition Tracking – Global Market insights 2018 to 2028”, which presents a comprehensive outlook centered around the global winter tires market. This assessment is an intelligent collaboration of primary and secondary research that aims to highlight the ongoing and future trends expected to influence the global market for winter tires. According to research findings, a combination of macroeconomic and industry-specific factors are acting as prime market drivers, thereby, motivating sales of winter tires. Furthermore, government regulation authorizing the use of winter tires is seen as a vital factor for the overall supply chain.
As the report proceeds, readers are enlightened about important market aspects such as opportunity assessment, mega trends and market taxonomy. Furthermore, the inclusion of crucial industry trends such market value & volume forecast, trade analysis, supply chain and market dynamics make this research quite beneficial for stakeholders and new entrants. According to report insights, the global winter tires market is expected to surpass 319 million units by 2028; this exhibits a market value worth US$ 43 billion.
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Europe Emerges as Lucrative Market Space for Winter Tire Manufacturers
Looking at the global market space, Europe has traditionally maintained its status of being a lucrative market for winter tires. There are several nations within Europe that experience harsh winters, which pose heavy challenges when it comes to driving. The point that numerous European countries have already made winter tires mandatory during colder months has positively impacted their demand. For instance, Nokian Tires, marked as a leading name in the global winter tires market, already holds significant presence all across Europe.
Independent Aftermarket Register Prominent Share in Global Winter Tire Sales
As per report intuitions, end-users showcase an evident preference for independent aftermarket; sales channel linked to independent aftermarket accounted close to 52% volume share of the total market in 2017. It is believed that the status quotient is anticipated to remain unaffected during the coming years until 2028.
Report Overview- https://www.factmr.com/report/725/winter-tire-market
Inclination towards Larger Rim Size Likely to Become Dominant
At present, there is a swelling preference for larger rim sizes across the global winter tires market. It is observed that the trend is pervasive covering all vehicle types, be it two wheelers, passenger cars, LCV or HCV. According to the statistics gathered in 2017, close to 60 million 16”-19” passenger car winter tires were sold, which points out to an overwhelming number.
It is imperative to note that winter tire manufacturers are not ignorant towards the emerging opportunities in this inexpert landscape. With a purpose to associate their market position, several key market players are focusing to launch advanced winter tires which deliver optimal performance under prompt temperature changes.
Some of the leading companies active in the global winter tires market include Bridgestone Corp., Compagnie Générale des Établissements Michelin SCA, Goodyear Tire & Rubber Co., Continental AG, Nokian Renkaat Ojy, Yokohama Rubber Company, Pirelli & C. Spa, Sumitomo Rubber Industries, Ltd. and Hankook Tire Company.
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