What is Global Traction Chains Market?
The Global Traction Chains Market is a vast and dynamic sector that deals with the production, distribution, and use of traction chains worldwide. Traction chains, also known as snow chains, are devices fitted to the tires of vehicles to provide maximum traction when driving through snow and ice. They are typically made of metal and are installed on vehicle tires to prevent them from skidding in icy or snowy conditions. The global market for these chains is extensive, encompassing various regions and countries. The market's value was estimated at US$ 313.1 million in 2022, and it is expected to grow to US$ 419 million by 2029. This growth is projected to occur at a Compound Annual Growth Rate (CAGR) of 4.2% from 2023 to 2029. The market is dominated by three major manufacturers who collectively hold about 45% of the market share. In terms of product type, metal chains are the most popular, accounting for over 90% of the market.
Metal Chain, Nonmetal Chain in the Global Traction Chains Market:
The Global Traction Chains Market is segmented into two main categories based on the material used in the chains: Metal Chain and Nonmetal Chain. Metal chains are the most common type of traction chains and account for over 90% of the market. These chains are typically made of steel and are known for their durability and strength. They are designed to withstand harsh weather conditions and provide excellent traction on icy or snowy roads. On the other hand, nonmetal chains are made from materials like rubber or plastic. These chains are lighter and easier to install than metal chains, but they may not provide the same level of traction. Despite this, nonmetal chains are gaining popularity due to their cost-effectiveness and ease of use. The choice between metal and nonmetal chains largely depends on the specific needs and preferences of the user.
Transport, Forests, Other in the Global Traction Chains Market:
The Global Traction Chains Market serves a variety of sectors, including Transport, Forests, and Others. In the Transport sector, traction chains are used on vehicles like cars, trucks, and buses to ensure safe and efficient travel in snowy or icy conditions. They are particularly useful for commercial vehicles that need to deliver goods in harsh weather. In the Forests sector, traction chains are used on forestry equipment to navigate through snowy or icy terrains. They are essential for ensuring the safety and productivity of forestry operations during the winter months. The "Others" category includes various other applications of traction chains, such as in the military, construction, and emergency services. In these sectors, traction chains are used on vehicles and equipment to ensure their safe and efficient operation in challenging weather conditions.
Global Traction Chains Market Outlook:
The future of the Global Traction Chains Market looks promising, with a projected growth rate of 4.2% from 2023 to 2029. The market, which was valued at US$ 313.1 million in 2022, is expected to reach US$ 419 million by 2029. This growth can be attributed to the increasing demand for traction chains in various sectors, including transport and forestry. The market is currently dominated by three major manufacturers, who collectively hold about 45% of the market share. However, the market is dynamic and competitive, with opportunities for other players to gain a foothold. In terms of product type, metal chains continue to be the most popular, accounting for over 90% of the market. However, nonmetal chains are also gaining traction due to their cost-effectiveness and ease of use. As the market continues to evolve, it will be interesting to see how these trends develop.
| Report Metric | Details |
| Report Name | Traction Chains Market |
| Accounted market size in 2022 | US$ 313.1 in million |
| Forecasted market size in 2029 | US$ 419 million |
| CAGR | 4.2% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Pewag, Rud, Peerless, Nordic Traction Group, Trygg, Laclede Chain, Maggi Group, Bohu, Ottinger, Veriga Lesce, Hangzhou Feifei Chain, Gowin |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
