A new report by Smithers Rapra, The Future of Winter Tires to 2021, states that the seasonal wintery conditions experienced in northern countries and regions translate into demand for greater driving safety from motorists, insurance companies and governments at country and state/province levels.
Despite the regulatory support, however, demand is still highly influenced by the severity of winters in regions such as Europe, Russia and North America, making it difficult for manufacturers, distributors and raw material suppliers to plan, and raising the prospects of periodic shortages or excess supply.
The Future of Winter Tires to 2021 provides technology and market forecasts to guide strategic efforts in this dynamic part of the global tire industry. Despite the market’s small size and maturity of many of its regions, there is still much room seen for growth (especially in China), and in technological innovation – for example, in a new all-weather segment, and in studding. Most tire companies across the consuming regions are involved in winter tires, and the segment is continuing to attract new entrants.