Press release
Global Tire Machinery Market 2025: Dominant Players, Driving Forces, and Potential Growth
Tire Machinery Market Forecast
What Is The Projected Market Size Of The Global Tire Machinery Market And Its Growth Rate?
• Market size in 2024: $2.59 billion
• Estimated market size in 2025: $2.68 billion (3.8% CAGR)
• Projected market size in 2029 $3.29 billion (5.3% CAGR)
Growth drivers in the historical period include automotive industry growth, advancements in tire technology, and tire retreading practices.
Key trends for the forecast period encompass the rise of electric vehicles, smart manufacturing, and the focus on a circular economy.
What Is Driving The Growth In The Global Tire Machinery Market?
Automobile demand acceleration propels the growth of the tire machinery market. Rising motor vehicle manufacturing stimulates the increased need for tires, leading to efficient, investment-lowering tire machinery utilization. For instance, the total number of registered road motor vehicles in Canada increased to 26.2 million in 2021 and motor vehicle manufacturing in Canada also rose from 3,973,874 in August 2022 to 4,123,572 in December 2022, showing the increasing demand for autonomous vehicles thereby driving the growth of the tire machinery market.
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Who Are the Key Players Driving The Tire Machinery Market Growth?
The key players include:
• Guilin Zhonghao Mechanical & Electrical Equipment Co Ltd.
• Larsen & Toubro Limited
• Harburg-Freudenberger Maschinenbau GmbH
• MESNAC Co Ltd.
• Davis Standard LLC, Erhardt+Leimer GmbH
• VMI Holland BV., NFM Welding Engineers Inc.
• Bartell Machinery Systems LLC
What Are The Key Trends In The Tire Machinery Market?
• Integration of robotics and automation in tire production
• Focus on tire testing and quality control systems
• Introduction of intelligent tire manufacturing platforms
• Adoption of 3D printing technology in tire prototyping
• Development of tire recycling and retreading equipment
What Are The Segments Of The Global Tire Machinery Market?
• By Machine Type: Mixing Machine Or Rubber Mixers, Calendaring Machine, Extrusion Machine, Multi Extrusion Lines, Inner Liner Lines, Extruders, Cooling Units, Cutting Machines, Textile Cord Cutting Lines, Other Machinery Types
• By Tire Type: Radial Tire, Bias Tire
• By Industry Vertical: Automotive, Agriculture, Aircraft, Other Verticals
Which Region Leads The Tire Machinery Market?
Asia-Pacific was the largest market for tire machinery in 2024, with ample coverage across regions like Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The tire machinery market expects consistent growth in these areas.
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What Is Covered In The Tire Machinery Global Market Report?
- Market Size Analysis: Analyze the Tire Machinery Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Tire Machinery Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Tire Machinery Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Tire Machinery Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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