All Weather Tire Market Report 2024

The all-weather tire market size has grown strongly in recent years. It will grow from $174.51 billion in 2023 to $185.14 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth during the historic period can be explained by several factors, increasing consumer preference for all-weather tires instead of seasonal models, higher adoption of electric vehicles that require specific tire solutions, rising consumer demand for convenience and versatility, global market expansion fueled by urbanization and mobility trends, and growing interest in performance-oriented all-weather tires.

The all-weather tire market size is expected to see strong growth in the next few years. It will grow to $235.9 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The anticipated growth in the forecast period can be linked to several factors, regulatory changes affecting tire standards, economic cycles influencing consumer purchasing patterns, increased customization options to accommodate diverse vehicle types and consumer preferences, environmental regulations promoting eco-friendly tire choices, and shifts in seasonal weather patterns. Key trends expected in the forecast period include the expansion of product offerings to include premium all-weather tire choices, incorporation of smart tire technologies to improve safety and performance, the rise of sustainable tire manufacturing practices, advancements in tire technology, and innovations in tire materials and manufacturing techniques.

The all-weather tire market is poised for growth driven by the increasing popularity of sports utility vehicles (SUVs). These versatile vehicles combine off-road capabilities with passenger car comfort, featuring higher ground clearance and spacious interiors. SUVs are gaining popularity due to their appeal to a broad consumer base seeking versatility and elevated driving positions. All-weather tires are essential for SUVs, offering reliable performance across diverse conditions with enhanced traction and stability in wet, dry, and light snowy environments. For example, in December 2021, the International Energy Agency reported that global SUV sales surged by more than 10% from 2020 to 2021, surpassing 45% of total car sales and setting new records in volume and market share. Thus, the increasing popularity of sports utility vehicles is a key driver for the all-weather tire market.

Leading companies in the all-weather tire market are focusing on innovation to maintain a competitive edge. They are developing advanced products such as long-tread-life tires, which offer extended usability before needing replacement due to worn treads. For instance, in October 2023, Yokohama Tire launched the Geolander CV 4S, an all-weather tire tailored for crossovers, smaller SUVs, and minivans. This move represents Yokohama's strategic expansion into the growing market segment for all-weather tires, enhancing performance with features such as an asymmetric tread pattern for superior winter traction and excellent handling in wet and dry conditions. The tire's zig-zag grooves prevent hydroplaning by efficiently draining water, ensuring outstanding wet weather performance.

In June 2021, The Goodyear Tire & Rubber Company bolstered its market position by acquiring Cooper Tire & Rubber Company, a US-based manufacturer renowned for its all-weather tires. This acquisition strengthens Goodyear's portfolio, expands its market presence, and delivers substantial financial benefits, particularly enhancing its footprint in the U.S. and Chinese markets within the global tire industry.

Major companies operating in the all-weather tire market are Continental AG, Bridgestone Corporation, Michelin, The Goodyear Tyre & Rubber Company, Maxxis International, Sumitomo Rubber Industries Ltd., Giti Tire Pte Ltd., Pirelli & C. S.p.A., Hankook Tire and Technology Co. Ltd., Toyo Tire Corporation, MRF Ltd., Kumho Tire Co. Inc., Apollo Tyres, Cooper Tire and Rubber Co., Nexen Tire, Nokian Tyres Plc, CEAT Ltd., Firestone Complete Auto Care, Yokohama Tire Corporation, Falken Tire Corp., BFGoodrich Inc., Omni United (S) Pte. Ltd., Sailun Tire, Nitto Tire USA Inc., Uniroyal Tires Inc.

North America was the largest region in the all-weather tire market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the all-weather tire market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the all-weather tire market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

An all-weather tire is designed to excel in various weather conditions, including dry, wet, and lightly snowy environments, combining features typically found in both summer and winter tires. This versatility appeals to drivers who face moderate climate changes and prefer not to change tires seasonally.

All-weather tires are available in several rim size categories, 12 inches to 17 inches, 18 inches to 21 inches, and sizes greater than 22 inches. The range of 12 inches to 17 inches caters to passenger cars, light commercial vehicles (LCVs), and heavy commercial vehicles (HCVs), and is distributed through both original equipment manufacturer (OEM) and aftermarket channels.

The all-weather tire market research report is one of a series of new reports that provides all-weather tire market statistics, including all-weather tire industry global market size, regional shares, competitors with a all-weather tire market share, detailed all-weather tire market segments, market trends and opportunities, and any further data you may need to thrive in the all-weather tire industry. This all-weather tire market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The all-weather tire market consists of sales of run-flat tires, eco-friendly all-weather tires, tire accessories, and related products. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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