Winter Tire Market Projected to Witness a Growth of US $32.64 Billion by 2029 | The Business Research Company

The Business Research Company

Winter Tire Market Projected to Witness a Growth of US $32.64 Billion by 2029 | The Business Research Company

Expected to grow to $32.64 billion in 2029 at a compound annual growth rate (CAGR) of 6%”

— The Business Research Company

LONDON, GREATER LONDON, UNITED KINGDOM, November 28, 2025 /EINPresswire.com/ -- "Get 20% Off All Global Market Reports With Code ONLINE20 – Stay Ahead Of Trade Shifts, Macroeconomic Trends, And Industry Disruptors

Winter Tire Market Growth Forecast: What To Expect By 2025?
The size of the winter tire market has been consistently expanding in the past few years. It is expected to rise from $24.68 billion in 2024 to $25.81 billion in 2025, with a compound annual growth rate (CAGR) of 4.6%.

The size of the winter tire market is predicted to witness substantial expansion in the coming years. It is forecasted to increase to a hefty $32.64 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.0%. Factors contributing to this projected rise include the impact of climate change, governmental regulations support, an increase in disposable income, winter tourism, widening winter conditions worldwide, and public education initiatives. Key trends expected during this period encompass the uptake of studdless tires, enhancements in tire technology, the use of sustainable and environment-friendly materials, the growth of online tire sales and e-commerce, and the demand for high-performance winter tires.

Download a free sample of the winter tire market report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=9200&type=smp

What Are Key Factors Driving The Demand In The Global Winter Tire Market?
Anticipated expansion in the automobile industry is set to boost the growth of the winter tires market. The automotive sector comprises industries engaged in conceptualizing, producing, wholesaling, retailing, and servicing motor vehicles. Winter tires, utilized for offering superior traction in extreme cold, icy, snowy or slushy conditions, are made from a rubber that remains softer and hence more adaptable. This flexibility enables the tire to better grip the road and deliver elevated performance in harsh, cold weather. Further, the obligatory use of winter tires is being enforced in countries with colder climates for safety and fuel efficiency reasons, leading to a higher demand for them. For example, in November 2022, the Society of Motor Manufacturers and Traders (SMMT), a trade association in the UK representing motor vehicles, reported a 7.4% rise in UK’s car production to 69,524 units in comparison to previous years. Therefore, the escalating growth of the automotive sector is pushing the expansion of the winter tires market.

Who Are The Leading Players In The Winter Tire Market?
Major players in the Winter Tire include:

• Bridgestone Corporation
• Apollo Tyres Limited
• Continental AG
• Cheng Shin Rubber Industry Co. Ltd.
• Goodyear Tire and Rubber Company
• Hankook Tire & Technology Co. Ltd.
• Kumho Tire Co. Inc.
• Madras Rubber Factory Ltd.
• Maxxis International GmbH
• Compagnie Générale des Établissements Michelin SCA

What Are The Major Trends That Will Shape The Winter Tire Market In The Future?
The winter tire market is experiencing a trend of product innovation, with major companies striving to manufacture innovative items to secure their market position. For example, in June 2024, Apollo Tyres, a tyre manufacturing company from India, introduced the Vredestein Wintrac Pro+, a high-end winter tyre designed specifically for high-performance cars, SUVs and the latest electric vehicles. This new tyre features a cutting-edge tread compound that improves grip, traction, and braking on snowy, slushy, and icy roads, whilst also minimizing rolling resistance to increase fuel efficiency or prolong driving range. The Wintrac Pro+'s superior wet grip and best-in-class durability remains consistent. To enhance performance on snowy terrains, the Wintrac Pro+ is crafted with a custom blend of advanced polymers and resins, which help the tread blocks stay flexible even under extremely cold conditions.

Analysis Of Major Segments Driving The Winter Tire Market Growth
The winter tire market covered in this report is segmented –

1) By Product Type: Studded, Stud-Less
2) By Rim Size: 12'- 17', 18'-21', >22'
3) By Vehicle Type: Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles
4) By Sales Channel: Original Equipment Manufacturers, Aftermarket

Subsegments:
1) By Studded: Metal Studded Tires, Ceramic Studded Tires
2) By Stud-Less: All-Weather Winter Tires, Performance Winter Tires, Touring Winter Tires

View the full winter tire market report:
https://www.thebusinessresearchcompany.com/report/winter-tire-global-market-report

Which Region Is Expected To Lead The Winter Tire Market By 2025?
In 2024, Europe dominated the winter tire market and is projected to continue its growth. The market report encompasses regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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