- 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.
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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
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