Press release
Tire Machinery Market Overview, Key Growth Factors, and Top Company Analysis
Tire Machinery Market
Market Size and Growth Outlook for the Tire Machinery Sector
The tire machinery market is anticipated to grow steadily, reaching a market value of $3.14 billion by 2029. This growth corresponds to a compound annual growth rate (CAGR) of 4.3% during the forecast period. Several factors are propelling this increase, including the rise of electric vehicles (EVs), the push for sustainable tire production, advancements towards Industry 4.0 and smart manufacturing, an emphasis on circular economy principles, the growth of commercial vehicle fleets, and global infrastructure projects. Key trends forecasted to influence the market include greater adoption of robotics and automation in tire production, enhanced tire testing and quality control systems, the launch of intelligent manufacturing platforms, utilization of 3D printing for tire prototyping, and the advancement of equipment for tire recycling and retreading.
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Significant Companies Leading the Tire Machinery Market
The tire machinery industry is home to numerous prominent companies contributing to innovation and production capabilities. These 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., and Wuxi Double Elephant Rubber & Plastics Machinery Co Ltd.
Strategic Acquisition Enhancing Tire Machinery Capabilities
In April 2024, Continental AG, a German automotive parts manufacturer, took a significant step by acquiring EMT Púchov s.r.o., a Slovakia-based company specializing in manufacturing specialized tire molds, particularly for commercial and specialty tires. This acquisition completes Continental's internal portfolio for mold-making technologies, strengthening its position in the tire machinery market.
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Growing Importance of Strategic Partnerships in Tire Machinery
Collaborations and partnerships are becoming increasingly important in the tire machinery landscape. These alliances aim to develop state-of-the-art tire manufacturing equipment and improve recycling technologies. For example, in April 2022, ELDAN from Denmark, known for its end-of-life tire recycling equipment, partnered with Germany-based Pyrum, which specializes in tire machinery, to advance ELT recycling and tire pyrolysis across Europe.
Further, in February 2024, Rockwell Automation Inc. from the US teamed up with Prometeon Tyre Group, an Italian industrial tire manufacturer, to boost digital transformation efforts. This partnership will implement Rockwell's Manufacturing Execution System (MES) across Prometeon's facilities in Italy, Turkey, Egypt, and Brazil, streamlining production, enhancing sustainability, and fostering innovation by creating a unified digital manufacturing environment.
Breakdown of Tire Machinery Market Segments
The tire machinery market is categorized into different segments to better analyze its scope and growth:
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
Tire Type
- Radial Tire
- Bias Tire
Industry Vertical
- Automotive
- Agriculture
- Aircraft
- Other Verticals
Further subsegments include:
Mixing Machines split into Internal Mixers and External Mixers; Calendaring Machines divided into Hot and Cold Calendaring Machines; Extrusion Machines categorized as Single Screw and Twin Screw Extruders; Multi Extrusion Lines consisting of Multi-Layer and Co-Extrusion Lines; Inner Liner Lines involving Inner Liner Extrusion and Liner Curing Machines; Extruders split into Thermoplastic and Rubber Extruders; Cooling Units divided into Water-Cooled and Air-Cooled Units; Cutting Machines categorized as Automatic and Manual; Textile Cord Cutting Lines split between Automated and Manual Systems; and Other Machinery Types including curing presses, bead winding machines, and inspection machines.
This detailed segmentation provides a comprehensive view of the tire machinery market, reflecting the diversity of equipment and applications involved in tire manufacturing and its associated sectors.
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