Tire Retreading Market Landscape 2025: Forecast Data and Growth Strategy Insights

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What Is the Expected CAGR for the Tire Retreading Market Through 2025?
In recent times, there's been a constant increase in the size of the tire retreading market. It is projected to rise from its $7.67 billion mark in 2024 to reach $8.04 billion in 2025, growing at a Compound Annual Growth Rate (CAGR) of 4.7%. This growth during the historical period could be credited to the economic advantages and cost-effectiveness, increased consciousness about environmental sustainability, strict regulations for tire disposal, international economic factors, as well as an increased emphasis on fleet upkeep and efficiency.

What's the Projected Size of the Global Tire Retreading Market by 2029?
Steady expansion is anticipated for the tire retreading market in the subsequent years, predicted to rise to $9.22 billion in 2029 with a compound annual growth rate (CAGR) of 3.5%. The projected growth in this period is owing to circular economy initiatives, augmented commercial vehicle fleet size, governmental incentives promoting sustainability, global measures to diminish carbon emissions, and heightened consumer cognizance. Foreseeable trends within this period encompass enhancements in retreading technology, creation of superior quality retreaded tires, adoption of cold retreading procedures, debut of intelligent retreading solutions, emphasis on obtaining quality certification and meeting standards, and utilization of computerized tread designing.

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Top Growth Drivers in the Tire Retreading Industry: What's Accelerating the Market?
The surge in the number of transportation and personal vehicles is predicted to instigate the expansion of the tire retreading sector. Transportation vehicles essentially transport commodities or individuals from one point to another, while personal vehicles, powered by a motor, carry fewer than 10 people, inclusive of the driver. Retread tires offer a budget-friendly substitute to buying new tires for personal car users, helping to decrease waste and preserve our natural resources. For example, MarkLines Co. Ltd., a marketing agency from Japan, reported in September 2023, that there was a 12.7% growth in personal car sales in August, leading to a total of 280,223 units being sold. This resulted in a 20.9% US market share. New car sales in the US amounted to 1.341.169 units in August, an increment of 2% from July 2023, and a rise of 16.2% from August 2022. Therefore, the increasing number of transport and personal vehicles is promoting the growth of the tire retreading industry. The ascending prosperity of the logistics divisions is anticipated to encourage the growth of the tire retreading market. The logistics industry involves the transportation, storage, and supervision of goods and materials throughout the supply chain, facilitating their seamless journey from manufacture to consumer. Tire retreading cuts operational costs for the logistics branch by prolonging the durability of tires, enhancing fuel efficiency, and decreasing the environmental footprint. For instance, Logistics UK, a UK-based industry association, reported in June 2024, that a £185 billion GVA contribution from our sector in 2022 ($233 billion) displayed a noticeable growth from the 2021 figure of £160.2 billion ($198 billion), indicating a promising trend in economic growth. Therefore, the escalating progression of the logistics industry is steering the growth of the tire retreading industry.

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What Trends Will Shape the Tire Retreading Market Through 2029 and Beyond?
Prominent businesses in the tire retreading industry are innovating new goods, such as multi-life tires, designed to boost their grip and longevity. The aspect of these multi-life tires is that they are retreaded tires, constructed to function across multiple uses. This fosters sustainability by reducing waste and resource consumption, whilst ensuring performance and safety are not compromised. Take for example, in April 2023, the American retread tire company, Black Star, introduced a newly retreaded tire called Leonard. This breakthrough product is engineered to function over numerous life cycles, which dramatically reduces its environmental consequences. With the smallest carbon footprint in the sector, Leonard made a remarkable reduction of 80% in material consumption and up to 60% in CO2 emissions during its manufacture. Leonard provides superior traction, enhanced durability, and heightened safety, while still maintaining a low rolling resistance which aids fuel efficiency and lowers emissions. It is offered in a wide range of profiles that are a good fit for passenger cars, SUVs, and commercial vehicles, thereby catering to a wide range of driving scenarios.

What Are the Main Segments in the Tire Retreading Market?
The tire retreading market covered in this report is segmented -

1) By Type: Pre Cure, Mold Cure
2) By Vehicle Type: Heavy Trucks and Buses, Light Commercial Vehicle, Off-Road Vehicles, Passenger Cars
3) By End Users: Automobile, Heavy Machinery

Subsegments:
1) By Pre Cure: Pre-Cured Tread Strips, Pre-cure Retreading Process
2) By Mold Cure: Mold-cured Treads, Mold Retreading Process

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Which Top Companies are Driving Growth in the Tire Retreading Market?
Major companies operating in the tire retreading market report are Bridgestone Corp., Michelin SCA, Goodyear Tire and Rubber Co., Yokohama Rubber Co, Hankook Tire & Technology Co. Ltd., Apollo Tyres Limited, Giti Tire Pte. Ltd., MRF Ltd., Southern Tire Mart LLC, Nokian Tyres PLC, JK Tyre & Industries Ltd., CEAT Limited, Pomp's Tire Service Inc., Marangoni S.p.A, Kraiburg Austria Gmbh & Co.Kg, BestDrive LLC, Oliver Rubber Company, Parrish Tire Company, Rosler Tyre Innovators Pty Ltd., Valley Tire Company, Redburn Tire Company, TreadWright Tires L.L.C., Tolins Tyres Pvt. Ltd., Easters Treads Limited, Dale's Tire & Retreading Inc., Pilipinas Kai Rubber Corporation

Which Regions Will Dominate the Tire Retreading Market Through 2029?
Asia-Pacific was the largest region in the tire retreading market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the tire retreading market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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