Press release
Tire Machinery Market Size to Reach $3.14 Billion by 2029 | Growth at 4.3% CAGR Forecast
Tire Machinery Market
What is the Projected Market Size of the Tire Machinery Industry?
In recent times, there has been a stable increase in the size of the tire machinery market. It is projected to rise from $2.59 billion in 2024 to $2.65 billion in 2025, registering a compound annual growth rate (CAGR) of 2.6%. Factors such as the expansion of the automotive industry, the globalization of trade and supply chains, the replacement tire market, advances in tire technology, and tire retreading practices have all contributed to the growth in the historic period.
What Will Be the Size of the Tire Machinery Market by 2029?
Anticipations suggest a consistent expansion in the tire machinery market over the upcoming years. By 2029, it is projected to reach a size of $3.14 billion, enriching at a compound annual growth rate (CAGR) of 4.3%. This upcoming growth could be linked to the emergence of electric vehicles (EVs) and sustainable tyres, adoption of smart manufacturing and industry 4.0, the emerging emphasis on a circular economy, expanded commercial fleets, and global infrastructure growth. Significant trends to watch during this period would be the inclusion of robotics and automation in tire manufacturing, increased importance on tire testing and quality control systems, emergence of intelligent tire manufacturing platforms, application of 3D printing technology in tire prototyping, and advancement in tire recycling and retreading equipment.
Explore The Complete Report Now:
https://www.thebusinessresearchcompany.com/report/tire-machinery-global-market-report
What Are the Key Drivers Accelerating Growth in the Tire Machinery Market?
The burgeoning need for cars is anticipated to stimulate the expansion of the tire machinery market. The term automotive manufacturing encompasses the processes of designing, constructing, supplying, and marketing cars. These automobiles require tires that offer superior durability, strength, and lifespan. This is where tire machinery steps in, enabling businesses to manufacture the needed tires more efficiently and affordably. For instance, per Statistics Canada, a governmental entity, the amount of registered road motor vehicles in Canada surged to 26.2 million in 2021 as of January 2023. Additionally, in Canada, motor vehicle production rose from 3,973,874 in August 2022 to 4,123,572 in December of the same year. Hence, the growing demand for self-driven vehicles is propelling the expansion of the tire machinery market.
Get Free Sample Report Here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=9515&type=smp
How Is the Tire Machinery Market Segmented by Type, Application, and Region?
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
What Are the Key Trends Driving Growth in the Tire Machinery Market?
The growth of strategic alliances is becoming a trending factor in the tire machinery market. Major industry players are forging partnerships to enhance tire manufacturing machinery. For example, in April 2022, ELDAN, a recycling firm for end-of-life tires (ELT) based in Denmark, joined forces with Pyrum, a Germany-based tire machinery firm, to facilitate ELT recycling and tire pyrolysis in Europe. Furthermore, in February 2024, the US-based automation firm Rockwell Automation Inc., formed a partnership with Prometeon Tyre Group, an industrial tire producer based in Italy. This alliance will enable Prometeon Tyre Group to increase its digital strategy in factories across Italy, Turkey, Egypt, and Brazil, enhancing manufacturing efficiency, sustainability, and technological advancement. Rockwell Automation is set to replace existing systems with its Manufacturing Execution System (MES), thereby creating a standardized and up-to-date digital framework in all Prometeon locations globally.
Customize Your Insights And Get The Full Report Here:
https://www.thebusinessresearchcompany.com/customise?id=9515&type=smp
Who Are the Leading Companies Driving Growth in the Tire Machinery Market?
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.
Which Is the Leading Region in the Global 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.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Saumya Sahey
Europe: +44 7882 955267,
Asia: +44 7882 955267 & +91 8897263534,
Americas: +1 310-496-7795
Email: saumyas@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Tire Machinery Market Size to Reach $3.14 Billion by 2029 | Growth at 4.3% CAGR Forecast here
News-ID: 4173058 • Views: …
More Releases from The Business Research Company
Top Market Shifts Transforming the Rainwater Harvesting Systems Market Landscape …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Rainwater Harvesting Systems Market Through 2025?
Over the past few years, there has been substantial growth in the market size of rainwater harvesting systems. The industry, which was valued at $1.94 billion in 2024, is predicted to rise to $2.07 billion by…
Live Concerts Fueling Surge In Percussion Instruments Market Growth: Transformat …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Will the Percussion Instruments Industry Market Size Be by 2025?
Over the past few years, the market size of percussion instruments has examined a steady rise. With an increase from $1.44 billion in 2024 to $1.47 billion in 2025, it expects a Compound Annual Growth Rate (CAGR) of…
Emerging Trends to Drive Hydraulic Equipment Market Growth at 3.5% CAGR Through …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Hydraulic Equipment Market Size Growth Forecast: What to Expect by 2025?
The size of the hydraulic equipment market has consistently increased in the past few years. Projections show that it will rise from $45.21 billion in 2024 to $46.86 billion in 2025, recording a compound annual growth rate (CAGR)…
Emerging Trends to Reshape the Fishing Drones Market: Innovative Advancement In …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Fishing Drones Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size of fishing drones has seen a swift increase in the past few years. An expansion from $0.89 billion in 2024 to $0.99 billion in 2025, representing a compound annual growth rate (CAGR)…
More Releases for Machine
Concrete Block Machine market: Lucrative Segments and their Underlying Factors | …
"
The Concrete Block Machine global market is thoroughly researched in this report, noting important aspects like market competition, global and regional growth, market segmentation and market structure. The report author analysts have estimated the size of the global market in terms of value and volume using the latest research tools and techniques. The report also includes estimates for market share, revenue, production, consumption, gross profit margin, CAGR, and other key…
Agriculture Machine to Machine (M2M) Agriculture Machine to Machine (M2M)
Global Agriculture Machine to Machine (M2M) market study offers an all-inclusive analysis of the major strategies, corporate models, and market shares of the most noticeable players in this market. Significant market players of market their aggressive scene, improvement plans and arrangements are clarified in the research report. Further, the market status and SWOT analysis are conducted on a regional and country level to prepare development plans and analyse the market…
Machine To Machine (M2M) Connections Market
Machine to Machine (M2M) Connections Market Research study which offers insights of in-depth research on historic and current market size along with the expected future prospects of the market and emerging trends in the market. The Machine to Machine (M2M) Connections Market report provides crucial information about the market, including Opinions from Industry experts, and the recent progressions and developments of the Machine to Machine (M2M) Connections Market.
Mobile, other connected…
Drilling Machine Market by Type (Sensitive Drilling Machine, Upright Drilling Ma …
Asia-Pacific serves as the most productive region as compared to others with diverse industry verticals significantly investing in drilling machine. Moreover, various domestic players are investing in the automotive and military & defense sectors, which is anticipated to boost the demand for drilling machines and its components to complete the respective operations with reduced labor cost and high precision of work within optimized time. Furthermore, the drilling machine market is…
Drilling Machine Market Report 2018: Segmentation by Type (Portable Drilling Mac …
Global Drilling Machine market research report provides company profile for Halliburton, Atlas Copco, Torquado Drilling Accessories, DATRON, DMTG, DMG MORI, SMTCL, NewTech Drilling Products, Baker Huges, Cheston, National Oilwell Varco and Others.
This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the…
Washing Machine Market Report 2018: Segmentation by Washing Machine Type (Drum-t …
Global Washing Machine market research report provides company profile for Frigidaire (US), Arbreau (US), Kenmore (US), ECOAP (China), Turbo Series (Korea), Avanti (Denmark), Fisher & Paykel (New Zealand), Globe House Products (US), GE (US), LG (Korea), Electrolux (Sweden), Samsung (Korea), Speed Queen(US), Bosch (Germany) and Others.
This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018…
