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Automotive tire socks are reusable tire snow socks that are pulled over the driving wheels of vehicles, which need extra grip on ice or snow. Automotive tire socks have emerged as a recent trend and are being thought of as an alternative for tire chains. Automotive tire socks are available in various sizes to fit almost all cars, vans, trucks, buses, and forklift tires. The grip is achieved through friction and specially developed high tech textiles. Unlike conventionally used tire chains, tire socks do not have any metal parts. Thus, they create less vibration and noise when in operation. The strong textile surface with which they are coated enhances their grip on the road.

The use of tire socks as replacement for tire chains is being accepted globally by various government and regulatory bodies. This is expected to boost the automotive tire socks market in the near future. Tire socks provide various advantages over tire chains. These include better grip on the road surface, easy installation, no wear and tear, and no damage to the tire when being used. This is expected to propel the automotive tire socks market during the forecast period.

Performance of tire socks in terms of braking and gripping enhances due to ultra-absorbing capacity of the textile. Several regions such as Russia, Northern Canada, Sweden, Scandinavia, and Northern Europe experience severe winter with heavy snowfall. Fatal accidents have occurred in these regions owing to the reduced traction between automotive wheels and the snow-covered ground. This has resulted in an increase in awareness about the need for safety and security in these regions. This is anticipated to augment the automotive tire socks market in the near future.

A vehicle needs to be moved while fitting automotive tire socks. This can lead to inconvenience during fitting. Furthermore, once torn or worn after use over a period of time, tire socks can be useless unlike tire chains. These minor drawbacks of automotive tire socks over tire chains can hamper the automotive tire socks market during the forecast period.

Based on type of vehicle, the automotive tire socks market can be segmented into cars, vans, trucks, buses, and forklifts. The type of the vehicle decides the dimensions of tire socks to be used. The vehicles segment can also be bifurcated into passenger vehicles and commercial vehicles. Passenger vehicles are further sub-segmented into hatchback, sedan, multi-purpose vehicle (MPV), and sports utility vehicle (SUV). Commercial vehicles can be further segmented into light commercial vehicle (LCV) and heavy commercial vehicle (HCV).

Based on geography, the automotive tire socks market can be divided into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America and Europe are estimated to drive the automotive tire socks market during the forecast period owing to the presence of countries experiencing high snowfall in these regions. Countries and sub-regions in Asia Pacific witness comparatively lower snowfall than that in Europe and North America. Most of the demand for tire socks in Asia Pacific comes from alpine areas such as Australia, Northern China, and India, where it snows to some extent.

Key players operating in the automotive tire socks market include MICHELIN, Joubert Productions sas, AutoSock, ISSE SAFETY, S.L., TireSocks Inc., and NOVOTOOL INDUSTRIAL CO., LTD. 

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
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

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:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

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.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

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?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Automotive Tire Socks Market

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