Albany, NY, Aug. 27, 2018 (GLOBE NEWSWIRE) -- Transparency Market Research has published a new report titled, “ Winter Tire Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026”. According to the report, the global winter tire market is anticipated to surpass US$ 28 Bn by 2026, expanding at a CAGR of more than 3 % during the forecast period.

Rising demand for driving safety is boosting the demand for winter tires. Summer or all-season tires become stiff at low temperatures and hence, lose traction. Vehicles equipped with winter tires are said to stop at a 30% shorter distance than a vehicle equipped with all-season or summer tires. Winter tires enable better braking and vehicle maneuvering in cold climates and hence, an increasing number of consumers are adopting winter tires.

Request to View Sample of Report at https://www.transparencymarketresearch.com/sa...p_id=45300

Stringent winter tire regulations enacted in Europe and Russia is a primary driver of the winter tire market in Europe and Russia. Winter tires are mandatory in several countries in Europe such as Austria, the Czech Republic, Estonia, and Latvia. In 1999, the winter law was passed in Sweden and collision rates were compared for post-legislation period and pre-legislation period. A reduction in collision by 11% to 14% was observed.  Severe winter experienced in the Nordic sub-region and Central Europe is driving the winter tire market in Europe. Rising vehicle sales in countries in the Nordic sub-region and Central Europe is boosting the demand for winter tires in these sub-regions. Rising consumer affordability is also a major driver of the winter tire market.

Winter tires, essentially, need to be fitted to vehicles when temperatures fall below 7 °C, as the rubber treads lose flexibility and traction irrespective of snow conditions. Rising consumer awareness and demand for safety is expected to boost the demand for winter tires in countries experiencing low temperatures, though no snowing, thus boosting the winter tire market. North America is a lucrative market for winter tires due to heavy snowing in Canada & northern states of the U.S. High number of light commercial vehicles and passenger vehicles on-road is further boosting the winter tire market in the region.

Request PDF Brochure of Report at https://www.transparencymarketresearch.com/sa...p_id=45300

The non- studded tires segment is expected to dominate the global winter tire market during the forecast period. Studded tires are banned in some states in the U.S. and countries in Europe such as Croatia, the Czech Republic, and Romania, as they damage the road and also generate dust. Use of advanced rubber compounds and resins has enabled non- studded winter tires to achieve traction and stability in winter conditions.

Rise in consumer trend for sporty appearance of vehicle and high clearance vehicles is fueling the demand for winter tires in the 18-inch to 21-inch segment. Tires with higher rim sizes provide better cornering stability and maneuverability and hence, are witnessing high demand.

Request For Custom Research at https://www.transparencymarketresearch.com/sa...p_id=45300

Key players operating in the global winter tire market include Bridgestone Corporation, Nokian Tyres plc, Continental AG, Nexen Tire Corporation, Sumitomo Rubber Industries, Ltd., The Goodyear Tire & Rubber Company, Pirelli & C.S.p.A., Hangzhou Zhongce Rubber Co., Ltd., The Yokohoma Rubber Co., Ltd., MICHELIN, Hankook Tire, Toyo Tire & Rubber Co., Ltd., Kumho Tire Co., Inc., Cheng Shin Rubber Ind. Ltd., Giti Tire, and Cooper Tire & Rubber Company.

Download Report TOC for in-depth analysis at https://www.transparencymarketresearch.com/report-toc/45300

 The global winter tire market for automotive has been segmented as follows:

  • Global Winter Tire Market for Automotive, by Rim Size
    • 12’’- 17’’
    • 18’’- 21’’
    • > 22’’
  • Global Winter Tire Market for Automotive, by Tire Type
    • Studded
    • Non-studded
  • Global Winter Tire Market for Automotive, by Vehicle
    • Passenger Vehicle
    • Light Commercial Vehicle
    • Heavy Commercial Vehicle
  • Global Winter Tire Market for Automotive, by Sales Channel
    • OEM
    • Aftermarket
  • Global Winter Tire Market for Automotive, by Region
    • North America
      • U.S.
      • Canada
    • Europe
      • Nordic
      • Central Europe
      • Rest of Europe
    • Russia
    • Asia Pacific
      • China
      • Japan
      • South Korea

Popular Report by TMR:

About TMR

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

Contact

Mr. Atil Chaudhari Transparency Market Research State Tower 90 State Street, Suite 700, Albany, NY - 12207 United States Tel: +1-518-618-1030 USA - Canada Toll Free: 866-552-3453 Email: sales@transparencymarketresearch.com Website: https://www.transparencymarketresearch.com Research Blog: http://www.editiontruth.com/