Global Automotive Winter Tyre Market Report and Forecast 2024-2032

Global Automotive Winter Tyre Market Outlook

The global automotive winter tyre market size was approximately USD 24.3 billion in 2023. The market is further projected to grow at a CAGR of 4.7% between 2024 and 2032, reaching a value of USD 36.85 billion by 2032.

Key Trends in the Market

The dynamics between the road and the tyre’s rubber compound alters in high temperatures which affects the tyre’s grip. Automotive winter tyres are especially engineered to give flexibility and grip in temperatures even below 7 degrees Celsius and on roads covered with snow and ice (basically icy rods). The tread grooves of winter tyres are deep and broad grooves that help provide excellent grip even on cold and slippery roads.

• Automotive winter tyres feature two symbols that include M+S and a snowflake over a mountain. While the M+S symbol that represents mud and snow appear on all season tyres, including the winter tyre, the snowflake symbol is exclusive to winter tyres.

• Manufacturers are using innovative advanced materials for manufacturing all season tyres and state-of-the art tread patterns, offering lower rolling resistance that helps buyers to reduce their vehicle’s CO2 emissions. This is favouring the automotive winter tyre market demand among the eco-conscious consumers.

• Non-studded winter tyres have gained greater market share as with advances in technologies, rubber compounding, and tread designs, they are able to maintain flexibility and traction in freezing temperatures on snowy, wet, or icy surfaces.

Market Analysis

On the basis of tyre type, the market is divided into studded and non-studded. Based on rim size, the automotive winter tyre market segmentation includes 12 inch to 17 inch, 18 inch to 21 inch, and above 22 inch. The vehicle types that use winter tyres encompass passenger cars, light commercial vehicles, and heavy commercial vehicles.

The different sales channel for automotive winter tyres are OEM and aftermarket. The major regional markets for automotive winter tyres are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global automotive winter tyre market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Continental AG  

• Bridgestone Corporation

• Yokohama Rubber Co. Ltd. 

• Sumitomo Rubber Industries, Ltd.

• Apollo Tyres Ltd. 

• Michelin Group

• Pirelli & C. S.p.A.

• Hankook Tyre & Technology Co. Ltd.

• The Goodyear Tyre & Rubber Company

• Cooper Tyre & Rubber Company 

• Others

Market Share by Vehicle Type

The rising demand for electric and hybrid passenger cars is stimulating the demand for winter tyres that are suitable for both electric and hybrid vehicles. Electric and hybrid vehicles deploy battery packs that makes them heavier than the vehicles with combustion engine. In case of a slippery or wet surface, heavier cars take longer to stop which supports a growing demand for high quality automotive winter tyres that have excellent wet grip and can function effectively on snow or ice.

Many owners of passenger cars opt for non-studded and low rolling resistance winter tyres for comfort and fuel efficiency, respectively.

Market Share by Region

The automotive winter tyre market share is led by the European region. In many European countries including Germany, Austria, Lithuania, Czech Republic, Estonia, Lativa, Iceland, Sweden, Serbia, Finland, France, Spain, and Italy, among others, winter tyres are necessary. Further, some countries also impose the condition of minimum tread depth. For instance, in Austria the minimum tread depth is required to be 4mm and the tyres must feature the M+S symbol. Croatia and Czech Republic also mandate the minimum tread depth to be 4mm. In countries like Estonia, Finland, and Norway, the minimum tread depth required is 3mm. These regulations favour the automotive winter tyre market growth in Europe.

Competitive Landscape

Continental AG is a global producer of technical rubber and plastic products and offers sustainable and connected mobility solutions. Founded in 1871 and headquartered in Hanover, Germany, the company is listed on the German stock exchanges in Frankfurt, Hamburg, Hanover, and Stuttgart.

Bridgestone Corporation offers premium tyres like passenger car tyres or truck and bus tyres, services like retail and service solutions, power assisted bicycles, and more.  The company, headquartered in Japan, was found in 1931 and is listed on the Tokyo stock exchange. It has seven technology centres located across Tokyo, Yokohama, Akron, Ohio, Rome, Wuxi, and Pathum Thani.

Yokohama Rubber Co. Ltd. is a passenger car tyre manufacturing company that was established in 1917. It also offers diversified products, including high-pressure hoses, sealants and adhesives, aircraft fixtures and components, and golf equipment. The company’s production and sales expand across the Americas, Europe as well as Asia. Headquartered in Japan, the company is listed on the Tokyo stock exchange.

Other players operating in the automotive winter tyre market include Sumitomo Rubber Industries, Ltd., Apollo Tyres Ltd., Michelin Group, Pirelli & C. S.p.A., Hankook Tyre & Technology Co. Ltd., The Goodyear Tyre & Rubber Company, and Cooper Tyre & Rubber Company, among others.

Key Highlights of the Report