All-Weather Tire Market: Current Analysis and Forecast (2021-2027)

All-weather tires are the kind of tires that are renowned for offering respectable performance in dry, rainy, and snowy conditions. Compared to summer tires, these tires have moderate tread depths and rubber compositions that extend tread life. They are designed especially for the typical motorist. To improve vehicle efficiency, lessen the negative environmental effects of conventional tires, and spread knowledge about green tires, governments and other regulatory bodies around the world are establishing and proposing legislation and programs for labeling tires. For instance, in Japan, a voluntary tire labeling system for passenger cars was introduced in 2010. Similar to this, in November 2011 the South Korean government launched a voluntary tire labeling program for passenger cars, which was later made mandatory in November 2012. Additionally, the nation began enforcing required tire labeling regulations in November 2016.

Based on the rim size, the market is segmented into 12''-17'', 18''-21'', and >22''. The 18''-21'' segment is expected to dominate the market during the forecasted period 2021-2027. Since these tires have a reduced profile, they may be driven across terrain and potholes with adequate clearance. Additionally, it causes the suspension to fully compress and rebound. The growth of this market will be fueled by all of these factors

Based on the vehicle type, the market is segmented into Passenger Cars and Commercial Vehicles. The Passenger Cars segment is expected to dominate the market during the forecasted period. The growth of the category is anticipated to be fueled by factors like rising consumer disposable income and higher passenger automobile sales in nations like China and India

Based on the sales channel, the market is segmented into OEM and Aftermarket. The Aftermarket segment is expected to dominate the market during the forecasted period. The annual tire replacements carried out in each nation and region are represented by the aftermarket distribution channel in this instance. Additionally, it is anticipated that the proportion of aftermarket tires in the worldwide market would rise as a result of the rise in distributors, retailers, and online channel partners offering competitive rates

For a better understanding of the market adoption of All-Weather Tire, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of APAC), and Rest of World

Some of the major players operating in the market include Michelin Group, Bridgestone Corporation, Continental AG, Yokohama Rubber Co., Ltd., The Goodyear Tire & Rubber Co., Sumitomo Rubber Industries, Ltd., Kumho Tire Co. Inc., Nokian Tyres plc, Hankook Tire and Technology Co. Ltd., Pirelli & C.S.p.A.