Research: Winter Tire Market Expected to See Innovations
Research and Markets has announced the addition of the "Winter Tire Market in the U.S. 2014-2018" report to its offerings.
The report’s analysts are forecasting the winter tire market in the U.S. will grow at a compound annual growth rate (CAGR) of 3.85 percent over the period 2014-2018.
One of the key factors contributing to this market growth is the increasing safety awareness, specifically the increased public concern about passenger safety, and the increasing concern in this regard among customers, government, and automobile manufacturers is propelling the growth of this market.
The winter tire market in the U.S. has also been witnessing the emergence of high-performance tires. However, the increasing popularity of all-season tires could pose a challenge to the growth of this market, according to the report.
Key vendors dominating U.S. winter tire market space include Bridgestone Corp., Compagnie Generale des Etablissements Michelin SCA, Cooper Tire & Rubber Co, and The Goodyear Tire and Rubber Co. Other vendors mentioned in the report are Continental AG, Hankook Tire Worldwide Co. Ltd., Falken Tire Corp., and Pirelli & C. SpA.