The global automobile tire chain market is projected to witness a significant growth in 2023, according to a new report by Argyle Report. The report analyzes the key factors driving the market, such as increasing demand for winter tires, rising safety awareness, and favorable government regulations.
Automobile tire chains are devices that are attached to the tires of vehicles to increase traction and prevent skidding on slippery roads. They are usually made of metal or plastic and have links or studs that grip the road surface. Tire chains are especially useful in snowy or icy conditions, where they can improve the braking and steering performance of vehicles.
Tire chains are available in different types, such as cable, diamond, ladder, and spider. Each type has its own advantages and disadvantages, depending on the vehicle type, tire size, driving speed, and road condition. Some tire chains are easy to install and remove, while others require special tools or professional assistance. Tire chains are also subject to legal restrictions in some countries, where they are only allowed during certain seasons or on specific roads.
Why is the Automobile Tire Chain Market Growing?
The global automobile tire chain market is expected to grow at a compound annual growth rate (CAGR) of 5.6% from 2020 to 2027, reaching USD 1.2 billion by 2027, according to Argyle Report. The report attributes the market growth to several factors, such as:
- Increasing demand for winter tires: Winter tires are designed to provide better traction and handling on snow and ice, compared to regular tires. However, winter tires are not enough to cope with extreme weather conditions, such as heavy snowfall or blizzards. In such cases, tire chains can provide an additional layer of protection and stability for vehicles. According to a survey by the Tire and Rubber Association of Canada, 75% of Canadian drivers use winter tires, and 28% of them also use tire chains.
- Rising safety awareness: Tire chains can reduce the risk of accidents and injuries on slippery roads, by enhancing the braking distance and cornering ability of vehicles. According to a study by the Transport Research Laboratory, tire chains can reduce the stopping distance by up to 40% on snow and ice, compared to regular tires. Tire chains can also prevent skidding and spinning, which can cause collisions or rollovers. According to the World Health Organization, road traffic injuries are the eighth leading cause of death globally, and the leading cause of death for people aged 5-29 years. Tire chains can help save lives and reduce the social and economic costs of road crashes.
- Favorable government regulations: Some governments have implemented laws and policies to encourage or mandate the use of tire chains on certain roads or during certain seasons. For example, in the United States, some states require drivers to carry tire chains in their vehicles or to install them on designated routes when the weather conditions are severe. In Europe, some countries have imposed fines or penalties for drivers who do not use tire chains when required. These regulations aim to improve road safety and reduce traffic congestion and environmental pollution caused by snow and ice.
Who are the Key Players in the Automobile Tire Chain Market?
The global automobile tire chain market is highly competitive and fragmented, with many local and international players operating in the industry. Some of the key players are:
- RUD: RUD is a German company that specializes in manufacturing and supplying tire chains, lifting and lashing systems, conveyor systems, and industrial chains. The company has a global presence, with subsidiaries and distributors in over 120 countries. The company offers a wide range of tire chains for various vehicles, such as passenger cars, trucks, buses, tractors, and military vehicles. Some of the company’s products are RUDmatic, RUDcompact, RUDprofi, and RUDmatic Hybrid.
- TRYGG (Nosted): TRYGG is a Norwegian company that produces and sells tire chains, snow chains, and traction chains. The company is a part of the Nosted Group, which also includes Nosted Mechanika and Nosted Kjetting. The company has a history of over 100 years, and is one of the leading tire chain manufacturers in Europe. The company offers tire chains for various applications, such as forestry, agriculture, construction, mining, and transportation. Some of the company’s products are TRYGG SMT, TRYGG Flexi, TRYGG Net, and TRYGG Super.
- Peerless (KITO): Peerless is an American company that manufactures and distributes tire chains, industrial chains, cargo control products, and hardware. The company is a subsidiary of KITO Corporation, a Japanese company that provides hoists, cranes, and material handling equipment. The company has a global network, with facilities and partners in North America, Europe, Asia, and Australia. The company offers tire chains for different vehicles, such as cars, light trucks, SUVs, ATVs, and lawn tractors. Some of the company’s products are Peerless Auto-Trac, Peerless Z-Chain, Peerless Quik Grip, and Peerless V-Bar.
- Maggi Group Spa: Maggi Group Spa is an Italian company that designs and manufactures tire chains, snow chains, and accessories. The company has a long tradition of innovation and quality, and is one of the leading tire chain suppliers in Europe. The company offers tire chains for various vehicles, such as passenger cars, 4x4s, vans, trucks, and buses. Some of the company’s products are Maggi Trak, Maggi Catene, Maggi The One, and Maggi Rapid Matic.