Global Automotive Tire Socks Market to reach USD XX billion by 2025.
Global Automotive Tire Socks Market valued approximately USD XX billion in 2017 is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2018-2025. The Automotive Tire Socks Market 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 market 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 market growth of Automotive Tire Socks during the forecast period.
The regional analysis of Global Automotive Tire Socks Market 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 market 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 2018-2025.
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The major market player included in this report are:
● Joubert Productions
● ISSE Safety
The objective of the study is to define market 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 market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Vehicle Type:
● Passenger Vehicles
● Commercial Vehicles
● North America
● Asia Pacific
● Latin America
● Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
Target Audience of the Global Automotive Tire Socks Market in Market Study:
● Key Consulting Companies & Advisors
● Large, medium-sized, and small enterprises
● Venture capitalists
● Value-Added Resellers VARs
● Third-party knowledge providers
● Investment bankers
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