Techno World Automotive-Snow-Chain-Market | Page 2

In June 2017, Michelin Lifestyle Limited introduced Michelin Easy Grip—a next generation
composite product that provides enhanced performance and is featured with lesser installation
and removal time. The product features also include quieter driving with no damage to the road
surfaces. Certain vendors have introduced reflective light vision in these products to provide
better visibility in the snowy and dark weather conditions. Players in this market are constantly
focusing on R&D to introduce advanced products in order to sustain in this highly competitive
market
Automatic snow chains is expected to present considerable growth opportunities
Automatic snow chain system allows the user to install snow chains by flipping a switch from
inside the automotive that activates solenoid, which influences the positioning of these to
contact the tire. Owing to the continuous movement of the vehicle, the material covers the
entirety of the tires to provide traction. Along with time saving, these equipment also enhances
the costs savings through low maintenance in conjunction with advanced safety of the user in
weather extremities, is projected to garner large consumer inclination towards adoption of these
systems.
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Varying regulations by country and states creates a major hurdle for market players
Most states in the U.S. has varying regulations for the utilization of these tire enhancements.
There are some states such as Florida, Hawaii, New Hampshire, Washington, D.C., and Vermont
who has no restrictions on their use. Some countries such as France, Germany, Hungary, and the
Netherlands have prohibited the usage of studded tires. Some countries have regulations
permitting their use only during certain months of the year. This is expected to be a major
growth barrier for the industry. Usage of metal studded enhancements causes substantial
damage to the roads as well as vehicles. This dissuades consumers for opting for these. Speed
limitations and excessive efforts to tow the vehicle in case of breakdown are some other
challenges that may hinder the industry growth prospects.
Canada has witnesses few of the largest snowfall volumes in the world, especially in regions such
as Winnipeg, Saskatoon, and Alberta. This positions the country as a highly lucrative market for
automotive snow chains. North America and Europe are expected to remain the major
stakeholders of the market products over the forecast period.
The market is characterized by the presence of multiple players with comparable market shares.
Prominent players in the automotive snow chain market include Pewag, RUD Chain, Thule Group
(Thule Snow Chains), APV Safety Products, MOOSE UTILITY DIVISION, Autoliv, Maggi Group,
BABAC, Peerless Industrial Group, MICHELIN, Spikes Spider, Lianyi Rubber Components Co.,