Automotive Studless Tires: Introduction
- Automotive studless tires are designed to provide traction and control even while driving in wet, icy, and snowy conditions. Driving a vehicle in winter, or on snowy roads, is difficult, and the best way to ride on such unpredicted winter roads is to install studless tires. Studless tires are made of superior rubber compounds and possess better tread design, as compared to tires that have metal inserted in their treads.
- Developments in rubber compounding technology help studless tires maintain their flexibility in freezing temperatures and allow tires to maintain traction on snowy roads. Studless tires have deeper tread depths, as compared to that of any other tires, which in turn enables studless tires to effectively disperse snow under them.
Key Drivers of Global Automotive Studless Tires Market
- Demand for studless tire is increasing, as several countries have banned the usage of studded tires owing to high level of dust emission attributed to these tires. This, in turn, is projected to boost the automotive studless tires market. Rise in demand for vehicles across the globe is a key factor driving the global automotive studless tires market. Most countries across Europe experience harsh winters, which makes it difficult to drive on icy roads. Consequently, vehicles need to be fitted with studless tires to skidding and vehicle crashes owing to the snowy road conditions. This is anticipated to further propel the automotive studless tires market in Europe.
- Slippery road and snowy conditions can increase fuel consumption of vehicle by 15 % as compared to that on dry or clean road surfaces. Studless tires can reduce fuel consumption, as they offer superior traction on slippery or snowy roads, which is estimated to boost the global automotive studless tires market.
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Europe and Asia Pacific to hold prominent share of global automotive studless tires market
- Europe is projected to hold a major share of the global automotive studless tires market as major areas in the region experience severe winters. Moreover, Europe has presence of major original equipment manufacturers as well as Tier-1 suppliers including Continental Tires and Michelin Tires who are leading companies that have major research and development facilities for studless tires. This, in turn, is estimated to propel the automotive studless tires market in Europe.
- Followed by Europe, Asia Pacific is projected to account for a major share of the global automotive studless tires market due to an increase in vehicle production and sales. China and Japan in Asia Pacific witness harsh winters, which in turn is anticipated to boost the automotive studless tires market in China and Japan.
Key players operating in global automotive studless tires market
The global automotive studless tires market is highly concentrated owing to the presence of top manufacturers. A few of the key players operating in the global automotive studless tires market are:
- Bridgestone Corporation
- Nokian Tires Plc
- Continental Tires LLC
- Goodyear Tire & Rubber Company
- Hankook Tire Co. Ltd
- Cooper Tire & Rubber Company
- Pirelli & C S.p.A
- Yokohama Rubber Co. Ltd
- Apollo Tires Ltd
- Michelin Tires
- Dunlop Tires
- NEXEN TIRE
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Global Automotive Studless Tires Market: Research Scope
Global Automotive Studless Tires Market, by Vehicle Type
- Passenger Vehicle
- Commercial vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Global Automotive Studless Tires Market, by Rim Size
Global Automotive Studless Tires Market, by Autonomous Type
- Semi-autonomous Vehicle
- Fully autonomous Vehicle
Global Automotive Studless Tires Market, by Sales Channel
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
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Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
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