Tire Retreading Market was valued at US$ 3.47 Bn. in 2021. Global Tire Retreading Market size is estimated to grow at a CAGR of 8.48%.
Tire Retreading Market Overview:The retreaded tire represents the symbol of the circular economy. It avoids the consumption of raw materials and decreases the energy requirement over the production cycle of a new tire. The current production method confirms similar performance and durability. Retreaded tires represent an alternative for the commercial and transport vehicle sector. It offers suitable solution to the new important one for reducing the environmental impact. An implementation of technology like tire retreading are transforming supply chains in the transportation industry. It is reaching a new level of maturity as companies big & small take agility to the next level to increase operating profits.To know about the Research Methodology:- Request Free Sample Report The report has covered the market trends from 2017 to forecast the market through 2029. 2021 is considered a base year however 2021’s numbers are on the real output of the companies in the market. Special attention is given to 2021, the effect of lockdown on the demand and supply, and the impact of lockdown for the next two years on the market.
Tire Retreading Market Dynamics:An increase in Automotive Production drives the Tire Retreading market growth. Sales of retread tires have directly depended on vehicle parc and vehicle production. Despite unstable economic conditions in the current market scenario, the global automotive industry is expected to witness exponential growth in the near future. Automotive production is expected to increase with a more than 6.8% rate of CAGR during the forecast period. The production is expected to increase in emerging economies over the production in developed economies. The growth in the market is expected to attribute to the urbanization and stable economic conditions across developing nations across the globe. The report covers the detail analysis of the market dynamics like drivers, restraints, opportunities and challenges by each region.
Tire Retreading Market Segment Analysis:Based on the Vehicle Type, Tire Retreading Market is segmented into passenger vehicles and commercial vehicles. The new tyre manufacturers, who have long disdained deliberately manufacturing passenger tyres with an inbuilt capacity for retreading, have begun to take the sustainable credentials of passenger retreads, and have started to focus at their retreading potential. In the coming years, the transport industry is expected to struggle for cost optimisation, which will become a key driver of growth in the number of retreading plants. An increase in demand of fleets for retreading with premium raw materials over small scale retreading materials manufacturers are offering sustainable quality of the retreaded tyres. An increase in production of commercial vehicles is expected to increase the demand for tire retreading. The technology development in engineering technology is expected to led to the increased average life span of the vehicle, the tire retarding is a cost-effective solution for vehicles over new tire replacement.
Tire Retreading Market Regional Insights:Asia Pacific region is expected to hold the dominant position during the forecast period. Every year in India, with the usages of tire retreads saves hundreds of millions of litres of crude oil. The tyre retreading in India is done extensively for commercial vehicles like trucks and busses. The primary reason for retreading tyres is to save operational costs. It is expected to become the, which helps to reduce less than half the cost of a new tyre. With further growth of the economy, it is expected to witness numbers of vehicles in transport and passenger vehicles. The retreading tyre industry for the commercial vehicle segment is expected to drive in India, which is fuelled by the increase in the number of vehicles, rising tyre costs, the advent of radial tyres, better roads and the introduction of multi-axle heavy duty vehicles. An increase in automobile ownership will remain a chief driver for the retread market. The demand for heavy commercial vehicles is expected to grow the expansion of various industries, which will also continue to support the growth of the retread sector across the APAC region. In Europe, the retreaded tire becomes one of the vital references for achieving the ambitious sustainability goals, which has set itself. As part of the new vision desired by Europe. countries like France, Germany have already obliged public transport fleets to evaluate the usage of retreaded tires and other European countries are equipping themselves. The aesthetics of the sidewall of a tire is a mainly appreciated factor, mainly by a significant range of European customers. The objective of the report is to present a comprehensive analysis of the global Tire Retreading Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Tire Retreading Market dynamic, structure by analyzing the market segments and projecting the Tire Retreading Market size. Clear representation of competitive analysis of key players by Vehicle Type, price, financial position, product portfolio, growth strategies, and regional presence in the Tire Retreading Market make the report investor’s guide.
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Tire Retreading Market Report Coverage Details Base Year: 2021 Forecast Period: 2021-2029 Historical Data: 2017 to 2021 Market Size in 2021: US $ 3.47 Bn. Forecast Period 2021 to 2029 CAGR: 8.48% Market Size in 2029: US $ 6.65 Bn. Segments Covered: by Production Method • Pre cure • Mold Cure by Vehicle Type • Passenger Vehicles • Commercial Vehicles
Tire Retreading Market by Region• North America • Europe • Asia Pacific • Latin America • The Middle East and Africa
Tire Retreading Market Key Players• Bridgestone Corp. • Michelin SCA • Valley Tire Company • Parrish Tire Company • TreadWright • REDBURN TIRE COMPANY • Oliver Rubber Company • The Goodyear Tire and Rubber Co. • Marangoni S.p.A • Michelin North America Inc. • Kraiburg Austria Gmbh & Co.Kg • Pilipinas Kai Rubber Corporation • Easters Treads • JK Tyres • MRF Tyres • Yokohama Rubber Co • Rosler Tech Innovators • Tyresoles Frequently Asked Questions: 1. Which region has the largest share in Global Tire Retreading Market? Ans: Asia Pacific region held the highest share in 2021. 2. What is the growth rate of Global Tire Retreading Market? Ans: The Global Tire Retreading Market is growing at a CAGR of 8.48% during forecasting period 2022-2029. 3. What is scope of the Global Tire Retreading market report? Ans: Global Tire Retreading Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. Who are the key players in Global Tire Retreading market? Ans: The important key players in the Global Tire Retreading Market are – Bridgestone Corp., Michelin SCA, Valley Tire Company, Parrish Tire Company, TreadWright, REDBURN TIRE COMPANY, Oliver Rubber Company, The Goodyear Tire and Rubber Co., Marangoni S.p.A, Michelin North America Inc., Kraiburg Austria Gmbh & Co.Kg, Pilipinas Kai Rubber Corporation, Easters Treads, JK Tyres, MRF Tyres, Yokohama Rubber Co, Rosler Tech Innovators, and Tyresoles 5. What is the study period of this market? Ans: The Global Tire Retreading Market is studied from 2021 to 2029.
1. Tire Retreading Market Size: Research Methodology 2. Tire Retreading Market Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Tire Retreading Market Size 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Tire Retreading Market Size: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-19 Impact 4. Tire Retreading Market Size Segmentation 4.1. Tire Retreading Market Size, by Production Method (2021-2029) • Pre cure • Mold Cure 4.2. Tire Retreading Market Size, by Vehicle Type (2021-2029) • Passenger Vehicles • Commercial Vehicles 5. North America Tire Retreading Market (2021-2029) 5.1. North America Tire Retreading Market Size, by Production Method (2021-2029) • Pre cure • Mold Cure 5.2. North America Tire Retreading Market Size, by Vehicle Type (2021-2029) • Passenger Vehicles • Commercial Vehicles 5.3. North America Tire Retreading Market, by Country (2021-2029) • United States • Canada • Mexico 6. European Tire Retreading Market (2021-2029) 6.1. European Tire Retreading Market, by Production Method (2021-2029) 6.2. European Tire Retreading Market, by Vehicle Type (2021-2029) 6.3. European Tire Retreading Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Tire Retreading Market (2021-2029) 7.1. Asia Pacific Tire Retreading Market, by Production Method (2021-2029) 7.2. Asia Pacific Tire Retreading Market, by Vehicle Type (2021-2029) 7.3. Asia Pacific Tire Retreading Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. The Middle East and Africa Tire Retreading Market (2021-2029) 8.1. The Middle East and Africa Tire Retreading Market, by Production Method (2021-2029) 8.2. The Middle East and Africa Tire Retreading Market, by Vehicle Type (2021-2029) 8.3. The Middle East and Africa Tire Retreading Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Tire Retreading Market (2021-2029) 9.1. Latin America Tire Retreading Market, by Production Method (2021-2029) 9.2. Latin America Tire Retreading Market, by Vehicle Type (2021-2029) 9.3. Latin America Tire Retreading Market, by Country (2021-2029) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. Bridgestone Corp. 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Michelin SCA 10.3. Valley Tire Company 10.4. Parrish Tire Company 10.5. TreadWright 10.6. REDBURN TIRE COMPANY 10.7. Oliver Rubber Company 10.8. The Goodyear Tire and Rubber Co. 10.9. Marangoni S.p.A 10.10. Michelin North America Inc. 10.11. Kraiburg Austria Gmbh & Co.Kg 10.12. Pilipinas Kai Rubber Corporation 10.13. Easters Treads 10.14. JK Tyres 10.15. MRF Tyres 10.16. Yokohama Rubber Co 10.17. Rosler Tech Innovators 10.18. Tyresoles