Automotive Tire Socks Market Overview
Automotive tire socks are a new trend that is being viewed as a viable alternative to tire chains. Tire socks for automobiles, vans, trucks, buses, and forklifts are available in a variety of sizes to fit practically all vehicles, vans, trucks, buses, and forklift tires. The global Automotive Tire Socks Market is expected to grow at a significant rate in the years to come.
Tire socks are becoming recognized as a viable alternative to tire chains by a number of government and regulatory authorities across the world. In the near future, this is projected to boost the automobile tire socks market. Tire socks have a number of benefits over tire chains. These benefits include improved road grip, ease of installation, no wear and tear, and no damage to the tire while in use. During the projected period, this is expected to drive the automotive tire socks market.
Russia, Northern Canada, Sweden, Scandinavia, and Northern Europe are among the countries that have harsh winters with considerable snowfall. Due to the lower traction between automobile wheels and the snow-covered ground, fatal accidents have occurred in these areas. As a result, there has been a rise in awareness of the need for safety and security in these areas. This is expected to boost the market for automotive tire socks in the near future.
While installing automotive tire socks, a vehicle must be moved. This can be inconvenient during the fitting process. Furthermore, unlike tires chains, tire socks can be rendered unusable if damaged or worn after extended use. The automotive tire socks market may be hampered by these minor disadvantages of automotive tire socks over tire chains throughout the projected period.
| Report Metric | Details |
| Market size available for years | 2023–2030 |
| Base year considered | 2023 |
| Forecast period | 2024–2030 |
| Forecast unit | Value (USD Million) |
| Segments covered | Equipment Type, Power Source, Application, and Region |
| Regions covered | North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA) |
| Companies covered | MICHELIN, Joubert Productions sas, AutoSock, ISSE SAFETY, S.L., TireSocks Inc., NOVOTOOL INDUSTRIAL CO., LTD. |
Covid-19 Impact on Automotive Tire Socks Market
The outbreak of the covid-19 has a severe and swift impact on the automobile and transportation industry. This is majorly due to the shutdown of assembly plants in the US, interruptions across Europe in large-scale manufacturing, and disruption in the export of Chinese parts. In addition to this, the industry is dealing with reduced demand across the globe due to changes in customer behavior and shifts in a supply-demand chain. A recent study shows a 39% decline in sales of automotive all over the world. Moreover, the nationwide lockdowns have substantially affected the transportation sector. Restrictions on transportation accounted for a 45 to 55% decline in public as well as private transport sectors.
Automotive Tire Socks Market Segment Overview
According to the type of vehicle, the automotive tire socks market can be segmented into cars, vans, trucks, buses, and forklifts. The dimensions of tire socks to be used are determined by the type of vehicle. The vehicles segment is divided into passenger vehicles and commercial vehicles. The commercial vehicles segment is the most prominent in the global Automotive Tire Socks Market.
Automotive Tire Socks Market, By Type of Vehicle
· Cars
· Vans
· Trucks
· Buses
· Forklifts
Automotive Tire Socks Market, By Vehicles
· Passenger Vehicles
· Commercial Vehicles
Automotive Tire Socks Market Regional Overview
Based on the region, the automotive tire socks market is divided into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America and Europe are expected to drive the automotive tire socks market throughout the forecast period. This is due to the existence of countries experiencing high snowfall in these regions. Snowfall is less common in Asia Pacific countries and sub-regions than it is in Europe and North America. The majority of tire sock demand in the Asia Pacific originates from alpine locations like Australia, Northern China, and India, where it snows.
Automotive Tire Socks Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Automotive Tire Socks Market, Key Players
· MICHELIN
· Joubert Productions sas
· AutoSock
· ISSE SAFETY, S.L.
· TireSocks Inc.
· NOVOTOOL INDUSTRIAL CO., LTD.
Frequently Asked Questions (FAQ) :
Q1. What are the driving factors for the global Automotive Tire Socks market?
Benefits include improved road grip, ease of installation, no wear and tear, and no damage to the tire while in use. During the projected period, this is expected to drive the automotive tire socks market.
Q2. Which Segments are covered in the global Automotive Tire Socks market report?
Type of Vehicle, Vehicles, and Region. these segments are covered in the global Automotive Tire Socks market report.
Q3. Which segment is projected to hold the largest share in the global Automotive Tire Socks market?
Commercial vehicles segment is projected to hold the largest share in the global Automotive Tire Socks market.
Q4. Which region holds the largest share in the global Automotive Tire Socks market?
North America and Europe hold the largest share in the global Automotive Tire Socks market
Q5. Which are the prominent players in the global Automotive Tire Socks market?
MICHELIN, Joubert Productions sas, AutoSock, ISSE SAFETY, S.L., TireSocks Inc., NOVOTOOL INDUSTRIAL CO., LTD. are some key players in the global Automotive Tire Socks market
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Automotive Tire Socks Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Type of Vehicle
- 5.2.1. Cars
- 5.2.2. Vans
- 5.2.3. Trucks
- 5.2.4. Buses
- 5.2.5. Forklifts
- 5.3. Market Analysis, Insights and Forecast – By Vehicles
- 5.3.1. Passenger Vehicles
- 5.3.2. Commercial Vehicles
- 5.4. Market Analysis, Insights and Forecast – By Region
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Latin America, Middle East and Africa
6. North America Automotive Tire Socks Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Type of Vehicle
- 6.2.1. Cars
- 6.2.2. Vans
- 6.2.3. Trucks
- 6.2.4. Buses
- 6.2.5. Forklifts
- 6.3. Market Analysis, Insights and Forecast – By Vehicles
- 6.3.1. Passenger Vehicles
- 6.3.2. Commercial Vehicles
- 6.4. Market Analysis, Insights and Forecast – By Country
- 6.4.1. U.S.
- 6.4.2. Canada
7. Europe Automotive Tire Socks Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Type of Vehicle
- 7.2.1. Cars
- 7.2.2. Vans
- 7.2.3. Trucks
- 7.2.4. Buses
- 7.2.5. Forklifts
- 7.3. Market Analysis, Insights and Forecast – By Vehicles
- 7.3.1. Passenger Vehicles
- 7.3.2. Commercial Vehicles
- 7.4. Market Analysis, Insights and Forecast – By Country
- 7.4.1. UK
- 7.4.2. Germany
- 7.4.3. France
- 7.4.4. Italy
- 7.4.5. Spain
- 7.4.6. Russia
- 7.4.7. Rest of Europe
8. Asia Pacific Automotive Tire Socks Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Type of Vehicle
- 8.2.1. Cars
- 8.2.2. Vans
- 8.2.3. Trucks
- 8.2.4. Buses
- 8.2.5. Forklifts
- 8.3. Market Analysis, Insights and Forecast – By Vehicles
- 8.3.1. Passenger Vehicles
- 8.3.2. Commercial Vehicles
- 8.4. Market Analysis, Insights and Forecast – By Country
- 8.4.1. China
- 8.4.2. India
- 8.4.3. Japan
- 8.4.4. Australia
- 8.4.5. South East Asia
- 8.4.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Automotive Tire Socks Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Type of Vehicle
- 9.2.1. Cars
- 9.2.2. Vans
- 9.2.3. Trucks
- 9.2.4. Buses
- 9.2.5. Forklifts
- 9.3. Market Analysis, Insights and Forecast – By Vehicles
- 9.3.1. Passenger Vehicles
- 9.3.2. Commercial Vehicles
- 9.4. Market Analysis, Insights and Forecast – By Country
- 9.4.1. Brazil
- 9.4.2. Saudi Arabia
- 9.4.3. UAE
- 9.4.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. MICHELIN
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Joubert Productions sas
- 10.6. AutoSock
- 10.7. ISSE SAFETY, S.L.
- 10.8. TireSocks Inc.
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
