Report Scope & Overview:
All-Weather Tire Market Size was valued at USD 191.2 billion in 2021 and is expected to reach USD 299.08 billion by 2028 and grow at a CAGR of 6.6% over the forecast period 2022-2028.
Tires designed for usage in temperatures over 7 degrees Celsius are known as all-weather tires. As a result, all-weather tires are widely used on all sorts of cars around the world, as they are acceptable in most places and for the majority of the year, except in cold nations, where they are replaced by winter tires in December and January. The tire's primary duty is to protect the wheel rim while also providing tractive force between the road and the vehicle. These tires contain tread, beads, jointless cap piles, and additional materials such as synthetic rubber, carbon black, and fabric.
An all-weather tire provides a good combination of performance in both wet and dry situations, as well as grip in snow. All-season tires are designed for the everyday motorist, with intermediate tread depths and rubber compounds that are meant to last longer than summer tires. All-weather tires are available in a number of models, load capacities, sizes, and speed ratings for use on a wide range of vehicles, including economy cars, minivans, as well as pickup trucks. They usually offer ride comfort, handling, and other performance characteristics that are suited for the majority of drivers. All-season tires can give grip in the winter, but they aren't the best choice for driving in snowy conditions.
Rising consumer awareness about vehicle emissions is likely to promote the use of all-weather tires.
A shift in consumer preference toward fuel-efficient transportation technologies.
Greater disposable income, increased investment, and expansion of the automotive sector.
The high cost of initial investments is projected to stifle market expansion.
The growth is likely to be hampered by the replacement of all-weather tires with winter tires for intense winter conditions.
Increased demand for various types of tires provides market players with more profitable chances.
Governments and other regulatory groups are taking more initiatives to draught and propose legislation.
The all-weather tire market is expected to face challenges due to poor awareness and limited adoption.
Disruptions in the supply chain will be a significant challenge.
IMPACT OF COVID-19:
The COVID-19 virus had a detrimental influence on the all-weather tire market as a result of the strict lockdowns and social isolation used to stop the virus from spreading. Demand for all-weather tires was hurt by economic uncertainty, a partial corporate shutdown, and poor consumer confidence. During the epidemic, the supply chain was hindered, and logistics activities were delayed. However, due to the loosening of regulations, the all-weather tire industry is likely to pick up speed in the post-pandemic scenario.
Supply chain disruptions, economic conditions, demand share changes, and the long-term and immediate effects of the COVID-19 pandemic all had a detrimental impact on the all-weather tire market growth. The pandemic has halted economic activity and pushed the country's economy into a deep slump. With its origins in China, the world's supply networks are seeing unprecedented change.
KEY MARKET PLAYERS:
Continental AG (Germany), CEAT Ltd. (India), Bridgestone Corporation (Japan), Pengda Rubber Product Factory (China), Zhejiang PDW Industrial Co., Ltd. (China), Michelin (France), The Goodyear Tyre & Rubber Company (US), Aliner Automotive Equipment Pvt. Ltd. (India), Pirelli & C. S.p.A. (Italy), Sumitomo Corporation (Japan), Yokohama Tire Corporation (Japan), Nokian Tyres plc (Finland), Hankook Tire & Technology Co., Ltd. (South Korea), Toyo Tire Corporation (Japan), Shandong Tang Ren Import and Export Trading Co., Ltd. (China), Hebei Huichao Machinery Parts Co., Ltd. (China), Jiangxi Deyou Technology Co., Ltd. (China), Trading Company (China), Shandong Juling Group (China), Auto Tool Equipment Solution (India), and Qingdao Keter Tyre Co. Ltd are some of the affluent competitors with significant market share in the All-Weather Tire Market.
Market, By Rim Size:
Based on the rim size segment, the global market has been divided into 12”-17”, 18”-21”, and >22”. The market is likely to be dominated by the 18"–21" category. During the research period, the 18"–21" segment is predicted to increase at the fastest rate since these tires require a lower profile (or sidewall height) to maintain the proper clearance when they run over bumps and potholes, causing the suspension to fully compress and rebound.
Market, By Sales Channel:
The global market has been divided into OEM, and aftermarket based on the sales channel segment. The aftermarket sector is likely to have the greatest share of the market and increase at the fastest rate. The annual tire replacements in each country and region are represented by the aftermarket distribution channel. Furthermore, the expansion of distributors, retailers, and online channel partners is predicted to boost the global market share of aftermarket tires.
Market, By Vehicle Type:
Based on the vehicle type segment, the global market has been divided into Passenger cars, LCV (Light Commercial Vehicles), and HCV (Heavy Commercial Vehicles). During the forecast period, the passenger car category is expected to dominate the global market. LCVs (light commercial vehicles) and HCVs (heavy commercial vehicles) are two types of commercial vehicles (HCVs).
By Rim Size:
By Sales Channel:
By Vehicle Type:
Because of the tremendous growth of the automobile sector in nations like China, India, and Japan, Asia-Pacific has one of the largest automotive aftermarkets. Factors such as rising construction activity, industrial expansion, and the desire for fuel-efficient technology are all contributing to the region's increased tire consumption. In countries like China, Japan, and South Korea, the region boasts a plethora of raw material sources, low labor prices, and favorable government policies. Because these countries place a major emphasis on agriculture, demand for all-weather tires in the agriculture sector is likely to be high as well.
In terms of global automobile sales, China is the most important market. For tire producers interested in developing joint ventures with local automobile companies, the country is one of the most appealing marketplaces. Tire manufacturers are working to build tires that are specifically designed for electric vehicles. Due to its high production rate, low labor costs, improving ease-of-doing-business rating, developing economy status, and globally acknowledged engineering talents, India is one of the leading vehicle exporters in Asia-Pacific.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2021||US$ 191.2 Billion|
|Market Size by 2028||US$ 299.08 Billion|
|CAGR||CAGR of 6.6% From 2022 to 2028|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• by Rim Size (12”-17”, 18”-21”, >22”)
• by Sales Channel (OEM, Aftermarket)
• by Vehicle Type (Passenger cars, LCV, HCV)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Continental AG (Germany), CEAT Ltd. (India), Bridgestone Corporation (Japan), Pengda Rubber Product Factory (China), Zhejiang PDW Industrial Co., Ltd. (China), Michelin (France), The Goodyear Tyre & Rubber Company (US), Aliner Automotive Equipment Pvt. Ltd. (India), Pirelli & C. S.p.A. (Italy), Sumitomo Corporation (Japan), Yokohama Tire Corporation (Japan), Nokian Tyres plc (Finland), Hankook Tire & Technology Co., Ltd. (South Korea), Toyo Tire Corporation (Japan), Shandong Tang Ren Import and Export Trading Co., Ltd. (China), Hebei Huichao Machinery Parts Co., Ltd. (China), Jiangxi Deyou Technology Co., Ltd. (China), Trading Company (China), Shandong Juling Group (China), Auto Tool Equipment Solution (India), and Qingdao Keter Tyre Co. Ltd|
|Key Drivers||•Rising consumer awareness about vehicle emissions is likely to promote the use of all-weather tires.
•A shift in consumer preference toward fuel-efficient transportation technologies.
|RESTRAINTS||•The high cost of initial investments is projected to stifle market expansion.
•The growth is likely to be hampered by the replacement of all-weather tires with winter tires for intense winter conditions.
Frequently Asked Questions (FAQ) :
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of the Ukraine-Russia War
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global All-Weather Tire Market Segmentation, by Rim Size
9. Global All-Weather Tire Market Segmentation, by Sales Channel
10. Global All-Weather Tire Market Segmentation, by Vehicle Type
10.1 Passenger cars
11. Regional Analysis
11.2 North America
11.2.1 the USA
11.3.2 the UK
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
12. Company Profiles
12.1 Continental AG (Germany),
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 CEAT Ltd. (India)
12.3 Bridgestone Corporation (Japan)
12.4 Pengda Rubber Product Factory (China)
12.5 Zhejiang PDW Industrial Co., Ltd. (China)
12.6 Michelin (France)
12.7 The Goodyear Tyre & Rubber Company (US)
12.8 Aliner Automotive Equipment Pvt. Ltd. (India)
12.9 Pirelli & C. S.p.A. (Italy)
12.10 Sumitomo Corporation (Japan)
12.11 Yokohama Tire Corporation (Japan)
12.12 Nokian Tyres plc (Finland)
12.13 Hankook Tire & Technology Co., Ltd. (South Korea)
12.14 Toyo Tire Corporation (Japan)
12.15 Shandong Tang Ren Import and Export Trading Co., Ltd. (China)
12.16 Hebei Huichao Machinery Parts Co., Ltd. (China)
12.17 Jiangxi Deyou Technology Co., Ltd. (China)
12.18 Trading Company (China)
12.19 Shandong Juling Group (China)
12.20 Auto Tool Equipment Solution (India)
12.21 Qingdao Keter Tyre Co. Ltd
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share analysis
13.3 Recent Developments
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