All Weather Tire Market Research Report‚ÄĒGlobal Forecast till 2030

All Weather Tire Market Research Report Information by Rim Size (12‚Äô‚Äô‚Äď17‚Äô‚Äô, 18‚Äô‚Äô‚Äď21‚Äô‚Äô, and>22‚Äô‚Äô), Sales Channel (OEM and Aftermarket), Vehicle Type (Passenger Cars, LCV, and HCV), and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) ‚Äď Forecast till 2030

ID: MRFR/AM/9151-HCR | 188 Pages | Author: Sejal Akre | October 2023         

All Weather Tire Market Speak to Analyst Request a Free Sample

All Weather Tire Market Scenario

The global all weather tire market share is expected to grow at ~6.89% CAGR during the forecast period (2022-2030). All-season tires are designed to be used at temperatures above 7 degrees Celsius. Hence, all-season tires are extensively utilized globally on all types of vehicles, as they are suitable in most areas and the majority times of the year, globally, except in cold countries where they are replaced with winter tires during December/January. All-weather tires are replaced with winter tires during winter. Moreover, all-weather tires can operate below 7 degrees Celsius; consequently, consumers residing in countries experiencing cold weather prefer all-weather tires, as opposed to all-season tires, to minimize the car ownership cost and prevent the hassle of rotating the tires.

An increase in vehicle ownership in developing countries due to an increase in demand for transportation and a rise in consumer purchase parity is driving the sales of vehicles and the All-Season tire market. Vehicles are being retained for a more extended period, and used cars are increasingly preferred, contributing to the higher demand for aftermarket tires, which in turn boosts the All-Season tire market. Increased consumer awareness about vehicle maintenance and the expansion of tire dealers and workshops in remote areas have further fueled the global all-season tire market.

Governments and other regulatory organizations all over the world are working on developing and proposing regulations and programs for labeling tires to increase vehicle efficiency, decrease the adverse effects of conventional tires on the environment, and raise awareness about green tires. For instance, in 2010, Japan began implementing a voluntary tire labeling system for passenger cars. Similarly, the South Korean government initiated a voluntary tire-labeling program for passenger cars in November 2011, which was then made compulsory in November 2012. Furthermore, in November 2016, the country started implementing mandatory tire labeling regulations. The European Parliament and European Council proposed the REGULATION (EC) No. 1222/2009 for labeling tires in terms of fuelefficiency and other essential parameters to increase safety, promote fuelefficiency, decrease noise levels, and enable consumers to make informed purchasing decisions. Thus, the introduction of government regulations regarding tire labeling is expected to increase the demand for different types of tires and, consequently, drive the growth of the global all weather tire market during the forecast period.

All-weather tire Market Key Players

The key players operating in theglobal all weather tire market are

  • Bridgestone Corp. (Japan),

  • Continental AG (Germany),

  • Cooper Tire and Rubber Co. (US),

  • Hankook Tire and Technology Co. Ltd. (South Korea),

  • Kumho Tire Co. Inc. (South Korea),

  • MICHELIN (France),

  • Pirelli Tyre Spa (Italy),

  • Sumitomo Rubber Industries Ltd. (Japan),

  • The Goodyear Tire and Rubber Co. (US),

  • Yokohama Rubber Co. Ltd. (Japan)

Recent Developments

Every all-weather tire comes stamped with a Three-Peak Mountain Snowflake (3PMS) certification, and dealers should relay its significance to their customers when explaining the difference between an all-season tire and an all-weather tire. The new Toyo Celsius Sport attained a 3PMS rating after rigorous testing determined that it is capable of at least 110 percent of the traction of a reference all-season tire. The mud and snow marking, or “M&S” as seen on the sidewall, is a very general indication that a tire is designed to handle some bad weather. Any tire conforming to some fundamental requirements for void area and positioning of grooves in the tread pattern can be branded “M&S” at the manufacturer’s discretion.

All-weather tire Market Segmentation

The global all weather tire market has been segmented based onrim size, sales channel,vehicle type, and region.

Based on rim size, the global market is divided into12’’–17’’, 18’’–21’’, and >22’’.The 18’’–21’’segment is expected to hold the largestshare of the market. The 18’’–21’’ segment is expected to grow at the fastest rate during the study periodas these tires need a lower profile (or sidewall height) to maintain adequate clearance when they go over bumps and potholes, which makes the suspension fully compress and rebound.

Based on sales channel, the global tire market is divided into OEM and aftermarket. The aftermarket segment is expected to hold the largest share of the market share and it is expected to grow at the fastest rate during the forecast period. The aftermarket distribution channel here represents the tire replacements done annually across each country and region. Additionally, the increase in distributors, retailers, and online channel partners is expected to increase the share of aftermarket tires in the global market.

Based on vehicle type, theall weather tire market is segmented into passenger cars, LCV, and HCV. The passenger carssegment is expected to dominate the global market during the forecast period.

global all weather tire market segmentation

The multiple factors considered for the manufacturing process of all-weather tires include tire construction, the material compound, tread design, size/dimensions, and weight. The operational efficiency and reliability of these tires substantially depend upon the raw material or the compound used for its production. However, the rising raw material prices required to manufacture all-weather tires limit product growth during the forecast period.

Tire manufacturing companies are investing in developing tires that work efficiently with internal and external factors, such as temperature, road surface, humidity, and raw materials. Industry players import raw materials from foreign countries to maintain product quality and reliability and increase their customer base in the global market. However, the rising tension in international trade is considerably affecting raw material prices. Countries, including the US and China, are some of the leading importers and exporters across the globe. The increasing trade disputes between the two countries stimulate the price hike for certain raw materials required in manufacturing all-weather tires. 

All-weather Tire Market Regional Analysis

Based on region, the all weather tire market is segmented into Asia-Pacific, North America, Europe, the Middle East&Africa, and South America. Asia-Pacific has one of the largest automotive aftermarkets, owing to the rapid growth of the automotive industry in countries such as China, India, and Japan. The increased demand for tires in the region can be credited to factors, such as the growing construction activities, industrial development, and the rise in demand for fuel-efficient technologies. The regionboasts of the presence of several raw material suppliers, low labor costs, and favorable government guidelines in countries such as China, Japan, and South Korea. These countries also have a strong focus on agriculture, and hence the demand for all-weather tires in the agriculture sector is also expected to be high.

China is the leading market in terms of vehicle salesacross the globe. The country is one of the most attractive markets for tire manufacturers who are investing in forming joint ventures with local vehicle brands. China is one of the leading countries in terms of the consumption of electric vehicles, owing to the introduction of the “Automobile Mid and Long-Term Development Plan” and the presence of BAIC, D, and JAC. The tire manufacturing companies are working to develop tires specifically for electric vehicles. For instance, in 2016, Hankook Tire developed its Enfren Eco tire, which combines a special silica compound and structural design to minimize energy loss and optimize fuel efficiency for electric vehicles.However, the automotive industry in India is well-positioned in terms of contribution to the overall GDP due to continuous growth in the demand for passenger cars. India is one of the key exporters of vehicles in Asia-Pacific due to its high production rate, low labor cost, growing ease-of-doing business rating,a position as an emerging economy, and globally recognized engineering capabilities. The increasing awareness about vehicle emission and the shifting consumer preference towards fuel-efficient technologies for transportation are some of the factors that are expected to drive the adoption of all-weather tires during the forecast period.

Disruption in the supply chain due to COVID-19 has significantly affected the all weather tire market. Government-imposed lockdownshave affected the all weather tire market as manufacturers across the globe have halted the manufacturing process primarily due to theunavailability of skilled labor owing to social distancing regulations.

Over the past decade, the prices of crude oil per barrel have been rapidly increasing and the availability of crude oil is decreasing with each passing day. The ongoing wars in the Middle East have reduced oil supply from oil-producing countries, leading to the recent surge in oil prices. As per the Organization of the Petroleum Exporting Countries (OPEC), in the 4th quarter of 2018, the spot prices for crude oil per barrel increased by 62.40% compared to 2017.

Thus, the increment in crude oil prices is driving the large population pool to shift its preference towards fuel-efficient options. The major tire companies are working to capitalize on this opportunity and are manufacturing tires that are specially designed and developed for achieving low rolling resistance, decreasing fuel consumption, and increasing vehicle mileage. For instance, Bridgestone developed its ECOPIA tire series to minimize energy wastage and reduce fuel consumption by up to two gallons every month. Moreover, it is working on developing a tire, which would provide a 25% reduction in tire rolling resistance by 2020. In 2017, the company developed a tire that offered a 19% reduction in rolling resistance. The demand for tires is high in Europe and North America due to high consumer awareness and increasing supplier concentration. This has resulted in the increased availability of all-weather tiresin the market. The demand for tires in Asia-Pacific and the rest of the world is currently limited, restraining the growth of the all weather tire market.

Intended Audience

  • Government and Research Organizations

  • Consulting Companies in the All-Weather TireMarket

  • Raw Material Suppliers

  • Research Consultants

  • Investors and Shareholders

  • Automotive Tire Manufacturers and Suppliers

  • TireManufacturers/Suppliers

  • Heavy-Duty Truck OEMs

  • Technology Providers

  • All-Season Tire Manufacturers for Automobiles

  • Traders, Distributors, and Suppliers of Tires for Automobile

Report Scope:

Report Attribute/Metric Details
  Market Size   2027: Significant Value
  CAGR   6.89% CAGR : 2022-2030
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   by Rim Size, Sales Channel, Vehicle Type
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Bridgestone Corp. (Japan), Continental AG (Germany), Cooper Tire and Rubber Co. (US), Hankook Tire and Technology Co. Ltd. (South Korea), Kumho Tire Co. Inc. (South Korea), MICHELIN (France), Pirelli Tyre Spa (Italy), Sumitomo Rubber Industries Ltd. (Japan), The Goodyear Tire and Rubber Co. (US), and Yokohama Rubber Co. Ltd. (Japan)
  Key Market Opportunities   Government regulations regarding tire labeling
  Key Market Drivers   Providing acceptable performance

Frequently Asked Questions (FAQ) :

All Weather Tire market is predicted to grow at 6.89% through forecast period of 2022-2030.

The forecast period for All Weather Tire market research report is 2022-2030.

Global All-Weather Tire market is dominated by APAC region.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players‚Äô financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
Request Free Sample

Why Choose Market Research Future?

  • Vigorous research methodologies for specific market.
  • Knowledge partners across the globe
  • Large network of partner consultants.
  • Ever-increasing/ Escalating data base with quarterly monitoring of various markets
  • Trusted by fortune 500 companies/startups/universities/organizations
  • Large database of 5000+ markets reports.
  • Effective and prompt pre- and post-sales support.
Speak to Analyst
Leading companies partner with us for data-driven Insights.
Client logo Client logo Client logo Client logo Client logo Client logo Client logo Client logo Client logo Client logo

Kindly complete the form below to receive a free sample of this Report

Please fill in Business Email for Quick Response