Global Automotive Snow Chain Market 2017-2021

Overview of the global automotive snow chain market

Market research analysts at Technavio predict that the global automotive snow chain market will grow steadily at a CAGR of close to 4% by 2021. This market research analysis identifies the need for proper traction to drive the automotive snow chain in severe chilly weathers and as one of the primary growth factors for this market. The arrival of traction control and stability control in modern vehicles has resulted in much safer snow rides. Countries including Canada, Russia, and other Northern European countries experience snowfall in high volumes during winter and this becomes increasingly difficult for the drivers to drive due to the loss of traction. This in turn, drives the demand for proper snow chains or winter tires subsequently driving the growth of the market.

Owing to the rapid pace of innovation involved in the automotive snow chain market the recent years witnessed the constant introduction of new products with advanced features. For instance, Easy Grip snow chain (a temporary traction device) introduced by one of the vendors takes very less time for installation and removal and is a convenient alternative to traditional metal snow chains as it causes almost no damage to road surfaces. Additionally, vendors have also introduced snow chains with reflective night vision features that improves the visibility of the vehicle in dark and snowy conditions.

Competitive landscape and key vendors

The automotive snow chain market is characterized by the presence of a few number of vendors. With all players equally competing to gain significant revenue shares, the market is quite competitive. To cater to the aftermarket, the vendors in this marketspace are engaged in distribution services and maintenance activities through service centers.

The leading vendors in the market are -

• Peerless Industrial Group
• Pewag
• RUD Chain
• Thule Group (Thule Snow Chains)

The other prominent vendors in the market include APV Safety Products, Lianyi Rubber Components Co., Autoliv, Maggi Group, BABAC, MICHELIN, Chainco, MOOSE UTILITY DIVISION, Hangzhou Felice chain Co. Ltd, Ottinger, Gowin, Spikes Spider, Laclede Chain Manufacturing Company, and Trygg.

Geographical segmentation and analysis of the automotive snow chain market

• Americas
• APAC
• Europe

This market study estimates that in terms of geographic regions, the Americas will be the major revenue contributor to the automotive snow chain market by 2021. Canada witnesses some of the largest volumes of snow fall in the world where the regions like Winnipeg, Alberta, and Saskatoon have the high demand for winter implements such as winter tires and snow chains. Additionally, several states in the US also have laws specific to the use of winter tires and snow chains.

Growth drivers, challenges, and upcoming trends: The use of automatic snow chains with tires

The growth of the automotive snow chain market will also account to the use of automatic snow chains. This system allows the user to easily turn off the chains on the move where the roads are free from ice and snow. With just a touch of a button, the chain carpet can also spread itself under the tires of a moving vehicle providing grip and traction.

This report provides a number of factors contributing to the adoption, limitations, and opportunities of the global automotive snow chain market. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth. 

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global automotive snow chain market?
• What are the key market trends impacting the growth of the global automotive snow chain market?
• What are the challenges to market growth?
• Who are the key vendors in the global automotive snow chain market?
• What are the market opportunities and threats faced by the vendors in the global automotive snow chain market?
• Trending factors influencing the market shares of the Americas, APAC, and Europe.
• What are the key outcomes of the five forces analysis of the global automotive snow chain market?

Technavio also offers customization on reports based on specific client requirement.

Technavio’s reports for the automotive components industry offer insights into a wide range of product markets such as automotive electronics. In addition to offering information on a diverse range of parameters including the transitions in customer choices and the factors influencing the automotive components market, Technavio’s reports also include an extensive analysis of the dominant vendors, their latest products and services, and the competitive landscape of the automotive industry.

By performing a triangulated research approach of primary and secondary data techniques and taking into regard various factors such as the growing demand for products across the globe, research analysts at Technavio determine the growth prospects of the automotive components industry to help clients create effective business strategies. This upcoming market research report on the global automotive snow chain market for the years 2017 to 2021 offers practical insights derived from data gathered from sound sources of information such as channel partners, stakeholders, manufacturers, and governing bodies. Technavio also offers customized reports for clients based on their specifications to help the prove their presence in the market.

This upcoming industry research report on the global automotive snow chain market also considers the growth of related markets such as automotive fuel tank, which is expected to grow at a CAGR of above 4 % by 2021. The upcoming industry research report for the global automotive snow chain market also identifies the primary market drivers, key trends, as well as the pain points currently experienced by vendors in the automotive sector. This upcoming report also offers insights into the markets of wheels and tires and powertrain.