Automotive Tire Chains Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 - 2032
Market Report I 2024-09-16 I 149 Pages I Global Market Insights
The Global Automotive Tire Chains Market was valued at approximately USD 1 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of over 4.9% from 2024 to 2032. The increasing implementation of stringent winter road safety rules is significantly driving demand for tire chains, as these regulations create a consistent need for reliable traction devices during harsh winter conditions.
In various regions, especially in Europe, laws mandate the use of tire chains or other traction aids during extreme winter weather, such as heavy snowfall or icy roads. As a result, vehicle owners are compelled to purchase tire chains to comply with these regulations, in turn boosting market demand. Furthermore, heightened awareness among drivers regarding the dangers associated with winter driving has led many to invest in tire chains to enhance their safety and avoid potential penalties. In response, manufacturers are innovating by developing advanced tire chain products that deliver improved performance and durability. The expansion of retail and distribution channels also enhances accessibility, facilitating increased sales of tire chains.
The market is categorized by product type, including rubber, metal, steel, and others such as iron. The steel segment led the market in 2023, accounting for a significant share of 43.2%. This segment is expected to retain its dominance, with projections indicating a valuation of USD 693.9 million by 2032. Steel chains are favored for their exceptional durability, strength, and capacity to bear heavy loads, making them ideal for tackling the challenges of severe road conditions like snow, ice, and rugged terrain.
In terms of application, the market is divided into traditional tire chains, slag tire protection, snow tire protection, mining tire protection, and other specialized categories. The snow tire protection segment from the automotive tire chains market held a notable share of 42.21% in 2023 and is expected to continue leading, with a projected valuation of USD 704.8 million by 2032. These chains are specifically designed to enhance vehicle safety and performance during winter, offering superior traction on snow- and ice-covered roads. Improved grip helps prevent skidding and enhances vehicle stability, making them vital for safe winter travel.
Europe is the leading region in the automotive tire chains market, exhibiting a CAGR of 5.3%, expected to reach USD 520 million by 2032. Factors contributing to this growth include the region's severe winter weather, particularly in Northern and Central Europe, which drives high demand for tire chains. Additionally, the well-established automotive infrastructure supports this need through a comprehensive network of retailers and service centers, alongside strict safety regulations governing tire chain usage during winter months. High rates of vehicle ownership further propel market expansion in this region.
Report Content
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast parameters
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Industry 360synopsis, 2021 - 2032
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.1.1 Factor affecting the value chain
3.1.2 Profit margin analysis
3.1.3 Disruptions
3.1.4 Future outlook
3.1.5 Manufacturers
3.1.6 Distributors
3.2 Regulatory landscape
3.3 Impact forces
3.3.1 Growth drivers
3.3.1.1 Stringent winter road safety regulations
3.3.1.2 Growing popularity of lightweight materials
3.3.2 Industry pitfalls & challenges
3.3.2.1 Limited awareness about proper usage and benefits of automotive chains
3.4 Growth potential analysis
3.5 Porter's analysis
3.6 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Product Type, 2021 - 2032, (USD Million) (Thousand Units)
5.1 Key trends
5.2 Rubber
5.3 Metal
5.4 Steel
5.5 Others (iron etc)
Chapter 6 Market Estimates & Forecast, By Type, 2021 - 2032, (USD Million) (Thousand Units)
6.1 Key trends
6.2 Traditional tire chain
6.3 Snow tire protection
6.4 Slag tire protection
6.5 Mining Tire protection
6.6 Others (construction, cinder, forest, etc)
Chapter 7 Market Estimates & Forecast, By Vehicle Type, 2021 - 2032, (USD Million) (Thousand Units)
7.1 Key trends
7.2 Passenger car
7.3 Commercial vehicle
7.4 Others (army truck etc)
Chapter 8 Market Estimates & Forecast, By Distribution Channel, 2021 - 2032, (USD Million) (Thousand Units)
8.1 Key trends
8.2 Direct
8.3 Indirect
Chapter 9 Market Estimates & Forecast, By Region, 2021 - 2032, (USD Million) (Thousand Units)
9.1 Key trends
9.2 North America
9.2.1 U.S.
9.2.2 Canada
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 France
9.3.4 Italy
9.3.5 Spain
9.4 Asia Pacific
9.4.1 China
9.4.2 India
9.4.3 Japan
9.4.4 South Korea
9.4.5 Australia
9.5 Latin America
9.5.1 Brazil
9.5.2 Mexico
9.6 MEA
9.6.1 UAE
9.6.2 Saudi Arabia
9.6.3 South Africa
Chapter 10 Company Profiles
10.1 BABAC
10.2 Dawson
10.3 Felice
10.4 Gowin
10.5 Laclede
10.6 Lambert
10.7 Lianyi
10.8 Maggi
10.9 Pewag
10.10 Quality Chain
10.11 RUD
10.12 Shanxing
10.13 Spikes-Spider
10.14 Thule
10.15 Trygg
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