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Tire Retreading Market worth $9.78 billion by 2030, growing at a CAGR of 5.26% - Exclusive Report by 360iResearch
Tire Retreading Market | 360iResearch
The Global Tire Retreading Market to grow from USD 6.82 billion in 2023 to USD 9.78 billion by 2030, at a CAGR of 5.26%.
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Retreading is renewing the tread and sidewall of old tires to make them usable. In this method, a worn tire casing with good structural quality is renewed and passed through a curing process by vulcanizing rubber to the original casing to form a new tread pattern. The growing use of retread tires in commercial vehicles and passenger cars, along with the growing awareness regarding the positive impact on the environment, is resulting in increased adoption of retreaded tires by end-users worldwide. Governments worldwide are taking initiatives for recycling and reusing tires and promoting the use of retreaded tires. However, operational issues pertaining to the use of retreaded tires may limit their adoption by consumers. In addition, the ongoing advancements and research in the tire retreading process are resulting in the development of cost-effective and highly efficient retreaded tires, which is expected to encourage their adoption by end-users across the globe.
The retreading tire market is highly developing in the Americas owing to the demand for retreaded tires for passenger cars and commercial vehicles and favorable government regulations for recycling and reusing tires. The increasing adoption of vehicles and reduction in tax rates to enable car owners to use retreaded tires are resulting in the growth of the tire retreading market in the EMEA region. The rising vehicle production & sales and a growing focus on developing sustainable products, such as retreaded tires, are expanding the sales of retreaded tires in the APAC region. Additionally, governments worldwide are encouraging recycling and reusing activities to prevent the harmful impact associated with the disposal of products such as worn tires, which is expected to create immense opportunities for the growth of the retreading tire market worldwide.
Market Segmentation & Coverage:
This research report categorizes the Tire Retreading Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Process, market is studied across Mold-cure and Pre-cure. The Mold-cure commanded largest market share of 65.58% in 2023, followed by Pre-cure.
Based on Sales Channel, market is studied across Independent Service Provider and OEM. The Independent Service Provider commanded largest market share of 59.88% in 2023, followed by OEM.
Based on Vehicle Type, market is studied across Automotive and Avitation. The Automotive is further studied across Commercial Vehicle, Off-Road Vehicle, Passenger Cars, and Two-wheelers. The Automotive commanded largest market share of 94.63% in 2023, followed by Avitation.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 39.22% in 2023, followed by Americas.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Tire Retreading Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Tire Retreading Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Tire Retreading Market, highlighting leading vendors and their innovative profiles. These include Akarmak, Apollo Tyres Ltd., Best-One Tire & Service, BLACK STAR, Bob Sumerel Tire, Bridgestone Corporation, Continental AG, Delray Tire & Retreading, INc., Elgi Rubber Company Limited, Fedan Tire Co., Hankook & Company Co., Ltd., Hawkinson Company, Insa Turbo Tyres, Italmatic SRL, Kal Tire, Kit Loong Commercial Tyre Group, KRAIBURG Holding SE & Co. KG, Marangoni S.p.A., McCarthy Tire Service, Melion Industry Co., Ltd., Michelin Group, MRF Limited, National Tyre & Wheel Ltd., Nokian Heavy Tyres Ltd., Parrish Tire Company, Pirelli & C. S.p.A., Polar Rubber Products Inc., Pre-Q Galgo Corporation, Purcell Tire and Service Centers, Salvadori Srl, Snider Fleet Solutions, Southern Tire Mart, TCi Tire Centers LLC, The Goodyear Tire & Rubber Company, TreadWright Tires, Tyregrip Pvt. Ltd., Vaculug Traction Tyres Ltd., Vipal Rubbers, and Yokohama Rubber Co., Ltd..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Tire Retreading Market, by Process
7. Tire Retreading Market, by Sales Channel
8. Tire Retreading Market, by Vehicle Type
9. Americas Tire Retreading Market
10. Asia-Pacific Tire Retreading Market
11. Europe, Middle East & Africa Tire Retreading Market
12. Competitive Landscape
13. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Tire Retreading Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Tire Retreading Market?
3. What is the competitive strategic window for opportunities in the Tire Retreading Market?
4. What are the technology trends and regulatory frameworks in the Tire Retreading Market?
5. What is the market share of the leading vendors in the Tire Retreading Market?
6. What modes and strategic moves are considered suitable for entering the Tire Retreading Market?
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