Global Automotive Tire Socks Industry to reach USD XX billion by 2025.
Global Automotive Tire Socks Industry valued approximately USD XX billion in 2017 is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2019-2025. The Automotive Tire Socks Industry is continuously growing across the world over the coming years. 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. Escalating adoption of many governments and regulatory bodies, surging number of vehicles mainly in cold countries based in North America and Europe and reduces the incidences of road accidents are the substantial drivers of the Industry across the globe. Moreover, rising incidents of road accident likely to creating numerous opportunity in the near future. Further, automotive tire socks offers various benefits such as it has superior gripping power, it installation is easy, it is available in multiple sizes and it is safe and road legal material. These benefit of automotive tire socks are also propelling the demand of it among its end-user. However, high cost associated with automotive tire socks and wear & tear problems associated with socks are the factors that limiting the Industry growth of Automotive Tire Socks during the forecast period.
The regional analysis of Global Automotive Tire Socks Industry is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America and Europe are estimated to leading the Industry share owing to increasing incidence of high snowfall in the region. Asia-Pacific is also anticipated to exhibit stable growth rate / CAGR due to lower snowfall as compare to Europe and North America over the forecast period 2019-2025.
The objective of the study is to define Industry sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the Industry. Additionally, the report shall also incorporate available opportunities in micro Industrys for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
Automotive Tire Socks Industry Share and Size by 2019-2025
Automotive Tire Socks Market Segmentation:
By Vehicle Type:
* Passenger Vehicles
* Commercial Vehicles
* North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East & Africa
Major Market Players in Automotive Tire Socks Market are as follows: