Tire Retreading Market Growth Accelerates: Strategic Forecast Predicts $9.01 Billion by 2029

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What Will the Tire Retreading Industry Market Size Be by 2025?
The tire retreading market has expanded at a steady pace, moving from $7.67 billion in 2024 to $7.94 billion in 2025 at a CAGR of 3.4%.

What's the Long-Term Growth Forecast for the Tire Retreading Market Size Through 2029?
The forecast for the tire retreading market suggests a progressive expansion in the coming years, reaching $9.01 billion by 2029 with a consistent CAGR of 3.2%. Factors influencing this upward trajectory during the forecast period involve initiatives focused on a circular economy, an amplified size of commercial vehicle fleets, supportive governmental policies for eco-friendly practices, worldwide efforts to diminish carbon emissions, and heightened consumer understanding. The expected trends during this period consist of improvements in retreading tech, the production of superior retreaded tires, application of cold retreading methods, the debut of ingenious retreading solutions, stress on quality certifications and standards, as well as the incorporation of computerized tread design.

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What Are the Key Growth Drivers Fueling the Tire Retreading Market Expansion?
The expansion of the tire retreading market is projected to be fueled by the rising number of transport and passenger vehicles. The term "transport vehicle" is used to describe a vehicle engineered to move people or goods from one location to another, while a "passenger vehicle" refers to a motor vehicle with the power to transport no more than ten people, including the driver. For owners of passenger cars, retread tires are an economical substitute for buying new tires as they aid in reducing waste and preserving natural resources. For instance, a report released by MarkLines Co. Ltd., an advertising agency based in Japan, in September 2023 revealed that passenger car sales increased by 12.7% in August with a total of 280,223 units sold, which equated to a 20.9% market share in the U.S. In August, new car sales in the US reached 1.341.169 units, which was a 2.0% rise from July 2023 and a 16.2% rise from August 2022. As a result, the expansion of the tire retreading market is being fueled by the increasing number of transport and passenger vehicles.

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What Are the Key Trends Driving Tire Retreading Market Growth?
Key players in the tire retreading industry are innovating with products like multi-life tyres, which offer superior grip, extended durability and promote sustainability by reducing waste and conserving resources. These retreaded tyres are designed for varied uses, thus enhancing efficiency while maintaining safety. For example, in April 2023, Black Star, a retread tire company based in the US, introduced a new retreaded tyre named Leonard. This tyre is designed as a multi-life product for usage across various life cycles, which significantly diminishes its ecological footprint. With the smallest carbon footprint in the sector, Leonard's production results in 80% less material use and up to 60% less CO2 emissions. The tyre provides improved grip, extra durability, and better safety while also ensuring low roll resistance for improved fuel efficiency and lower emissions. This new tyre is available in various profiles to fit passenger cars, SUVs, and commercial vehicles, catering to numerous driving scenarios effectively.

How Is the Tire Retreading Market Segmented?
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 Companies Are Leading the Charge in Tire Retreading Market Innovation?
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 Are Leading the Global Tire Retreading Market in Revenue?
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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