Snow chains are devices designed of a specific length, used to cover tires of a vehicle to improve traction or to give resistance on snowy or icy roads. Snow chains are used in winter in excess of heavy snow. Snow chains do not replace the existing tires but complement the already existing product. Snow chains have become an important tool nowadays, considering the safety measures. Snow chains reduce the chances of any accident or hurdles that may occur in dominant snowfall. The speed should not be more than 30 mph (50 km/h) when driving with snow chain attached. Snow chains are taken off on tarmac roads to avoid the damage. The chains can damage the tires, parts of the suspension, and even deteriorate the road surfaces.
Increase in nasty cold conditions and snow accidents to bolster the growth of the market
Increasing use of snow chains in nasty cold weather and the need for proper traction to drive the automotive snow chain market and an increase of accidents on snow roads are the key factors which have increased the demand for snow chains. Snow chains reduces the chances of any accident or hurdles that may occur in dominant snowfall. Snow chains have become an important tool now a days considering the safety measures.
Some chains can easily get broken with just a use or two. Snow chains are not easy to put on and are wimpy , can cause accidents, and other obstacles when not tackled correctly.
The major regions to produce snow chains are North America, Europe, and Asia, accounting for over 90% of production in total. Europe is the largest producer (production share of 39.76% in 2015) of the snow chain market. The largest consumer of the snow chain market is Europe, accounting for over 34.54% market share in 2015, in terms of consumption volume, followed by Asia.
North America to hold the Third Largest Share in the Market
Being the third largest consumer and manufacturer of snow chains in the world and covering 90% of total production share along with Europe and Asia, the weather conditions in North America cannot be predicted easily at the best of times. Winters in North America mostly falls in January and February, showing heavy snow rains or icy conditions. From late December till late March, snow chains are highly used in North America because of the adverse weather conditions. Furthermore, Canada has witnessed a huge growth in the snow chain market, out of total sales in 2015 Canada accounted for approximately 35% of the total sales in the region signifying the urgency and need of snow chain supplements.
On the other hand, the APAC region is projected to grow at a higher CAGR as compared to other states and is forecast to hold the largest market share, owing to increase in use of chains in this region. For example, in 2017, the National Advanced Analysis Center (NAAC) of Japan witnessed 44.08% of the chains loosened and 35% of the chains broken while driving. Premature breakage of chains can harm the human body (travelers in the vehicle), damage the vehicle, and stagnate the road surfaces. This requires the need for advancements in technology in the snow chain industry.
Government regulations by various states and countries to hamper the market growth
Some countries have also prohibited the use of snow chains because of its disadvantage of worsening the road surfaces. Use of snow chains on paved roads can be harmful and lead to accidents or sudden bumping into outrageous ways.
Fast pace of innovation in the snow chain market, and technology advancements can improve the traction of the snow chain. Moreover, the market is showing a great demand for tires. Eventually, the government laws in U.S. will force people to use the pair of snow chains in certain parts of the region.