Tire Machinery Market Size to Reach $3.14 Billion by 2029 | Growth at 4.3% CAGR Forecast

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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.

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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.

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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.

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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.

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