Press release
The Impact Of Surging Automotive Demand On The Tire Machinery Market: Critical Driver Shaping the Tire Machinery Market in 2025
Tire Machinery Market
Tire Machinery Market Size Growth Forecast: What to Expect by 2025?
The size of the tire machinery market has seen stable growth over the recent years. Its growth is projected to increase from $2.59 billion in 2024 to $2.68 billion in 2025, with a compound annual growth rate (CAGR) of 3.8%. The historic growth in this market size can be attributed to factors such as the expansion of the automotive industry, globalisation of trade and supply chains, the market for replacement tires, advancements in tire technology, and tire retreading practices.
How Will the Tire Machinery Market Size Evolve and Grow by 2029?
In the coming years, the tire machinery market is projected to witness a robust expansion. The market is predicted to soar to $3.29 billion by 2029, with a compound annual growth rate (CAGR) of 5.3%. This expected growth in the forecasted period can be linked to factors such as the emergence of electric vehicles (EVs) and eco-friendly tires, the implementation of smart manufacturing and industry 4.0, emphasis on a circular economy, increase in commercial vehicle fleets, and advancements in global infrastructure. Key trends for the forecast period would include the inclusion of robotics and automation in tire production, increased attention on tire testing and top-tier control systems, the emergence of smart tire manufacturing platforms, the use of 3D printing technology in tire design, and progression in tire recycling and retreading machinery.
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What Drivers Are Propelling the Growth of Tire Machinery Market Forward?
The growth of the tire machinery market is likely to be driven by the escalating demands for vehicles. This market caters to the automotive manufacturing industry, which encompasses the design, production, supply, and sale of automobiles. The tires necessary for these vehicles must be robust, durable, and long-lasting, and tire machinery assists in the efficient and cost-effective production of such tires. For example, Statistics Canada, an official governmental body, reported that in January 2023, the total count of registered motor vehicles in Canada reached 26.2 million in 2021. Additionally, the manufacturing of motor vehicles in Canada saw an increase from 3,973,874 in August 2022 to 4,123,572 in December 2022. Hence, the burgeoning demand for self-driving vehicles is fueling the expansion of the tire machinery market.
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Which Emerging Trends Are Transforming the Tire Machinery Market in 2025?
Prominent collaborations are emerging as a significant trend in the tire machinery market. Prominent companies in this sector are forming partnerships to further the development of tire manufacturing machinery. For instance, ELDAN, a company based in Denmark, known for its recycling machinery for end-of-life tires (ELT), announced a partnership with Pyrum, a Germany-based tire machinery company in April 2022. Their objective is to execute ELT recycling and tire pyrolysis throughout Europe. Moreover, in February 2024, Rockwell Automation Inc., an American automation firm, formed a partnership with Prometeon Tyre Group, an Italian industrial tire manufacturer company. The partnership will help Prometeon Tyre Group enhance its digital strategy at its facilities in Italy, Turkey, Egypt, and Brazil. The goal is to enhance manufacturing efficiency, sustainability, and tech innovation. Rockwell Automation will implement its Manufacturing Execution System (MES) to replace the existing systems, creating a universal and advanced digital platform across all Prometeon's facilities worldwide.
What Are the Key Segments in the Tire Machinery Market?
The tire machinery market covered in this report is segmented -
1) 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
2) By Tire Type: Radial Tire, Bias Tire
3) By Industry Vertical: Automotive, Agriculture, Aircraft, Other Verticals
Subsegments:
1) By Mixing Machine Or Rubber Mixers: Internal Mixers, External Mixers
2) By Calendaring Machine: Hot Calendaring Machines, Cold Calendaring Machines
3) By Extrusion Machine: Single Screw Extruders, Twin Screw Extruders
4) By Multi Extrusion Lines: Multi-Layer Extrusion Lines, Co-Extrusion Lines
5) By Inner Liner Lines: Inner Liner Extrusion Machines, Liner Curing Machines
6) By Extruders: Thermoplastic Extruders, Rubber Extruders
7) By Cooling Units: Water-Cooled Units, Air-Cooled Units
8) By Cutting Machines: Automatic Cutting Machines, Manual Cutting Machines
9) By Textile Cord Cutting Lines: Automated Cord Cutting Lines, Manual Cord Cutting Systems
10) By Other Machinery Types: Curing Presses, Bead Winding Machines, Inspection Machines
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Who Are the Key Players Shaping the Tire Machinery Market's Competitive Landscape?
Major companies operating in the tire machinery market include Guilin Zhonghao Mechanical & Electrical Equipment Co Ltd., All Well Industry Co Ltd., Larsen & Toubro Limited, Kobe Steel Ltd. (Kobelco), Harburg-Freudenberger Maschinenbau GmbH, MESNAC Co Ltd., Davis Standard LLC, Erhardt+Leimer GmbH, Troester GmbH & Co KG, VMI Holland BV., NFM Welding Engineers Inc., KONŠTRUKTA-TireTech a.s., Bartell Machinery Systems LLC, Farrel Corporation, Shun Cheong Machinery Co Ltd., Pelmar Group, Nakata Engineering Co Ltd., HERBERT Maschinenbau GmbH & Co KG, Jing Day Machinery Industrial Co Ltd., AS Tyre Machines, HF Tire Tech Group, Qingdao Guangyue Rubber Machinery Manufacturing Co Ltd., Slach Hydratecs Equipment Pvt Ltd., Yiyang Rubber & Plastics Machinery Group Co Ltd., Zhangjiagang Carenovo Technology Co Ltd., Nanjing Mixer Industrial Co Ltd., Goldhawk Forming Machinery Co Ltd., Santosh Rubber Machinery Pvt Ltd., Wuxi Double Elephant Rubber & Plastics Machinery Co Ltd.
What Geographic Markets Are Powering Growth in the Tire Machinery Market?
Asia-Pacific was the largest region in the tire machinery market in 2024. The regions covered in the tire machinery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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