Press release
In-Depth Examination of Segments, Industry Trends, and Key Competitors in the Tire Machinery Market
Tire Machinery Market
Tire Machinery Market Size and Projected Growth by 2030
The tire machinery market is set to reach a value of $3.3 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.6%. This steady rise is driven by multiple factors including the surging demand for tires compatible with electric vehicles (EVs), increased investments in modern manufacturing technologies, and the expansion of aircraft and agricultural tire production sectors. Additional contributors to market growth include an emphasis on boosting production efficiency and the integration of digital technologies within factory operations. Key trends anticipated to shape the market over the forecast period involve heightened automation on tire production lines, wider adoption of smart tire-building machines, increasing use of robotics in manufacturing plants, growth in radial tire production capacity, and improvements in process quality control.
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Important Factors Pushing Forward the Tire Machinery Market
The rising popularity of electric vehicles is creating a substantial need for specialized tires, which in turn is driving demand for advanced tire machinery. Manufacturers are focusing on designing equipment that can handle the distinct characteristics of EV tires, which differ from traditional tires in terms of materials and construction.
In addition, the agricultural and aircraft tire sectors are expanding, requiring machinery tailored to produce tires for these specific uses. This growth is prompting investments in more efficient equipment to meet higher production volumes while maintaining quality standards.
Key Industry Players in the Tire Machinery Market
The tire machinery industry features numerous prominent companies competing globally. Some of the significant players 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, and VMI Holland BV. Other notable names are 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.
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Notable Acquisition Impacting the Market Landscape
In April 2024, Continental AG, a leading German automotive parts manufacturer, acquired EMT Púchov s.r.o., a Slovakia-based company known for producing special tire molds for commercial vehicle and specialty tires. This acquisition strengthens Continental's portfolio in mold-making technologies, allowing it to offer more comprehensive solutions within the tire machinery segment. The financial details of the deal were not disclosed.
Emerging Trends and Technological Advances in Tire Machinery
To maintain competitiveness, several companies in the tire machinery market are developing innovative products like high-speed tire pressure testing systems. These systems are designed to accurately evaluate tire pressure under dynamic conditions, supporting enhanced quality assurance and product development.
For example, in March 2023, US-based Tekscan Inc. introduced the high-speed tirescan system. This technology captures detailed dynamic contact patch pressure (DCPP) data from tires operating on flat tracks or drum test machines at speeds up to 265 km/h (165 mph). By assessing the impact of speed, motion, and inertial forces, this system provides valuable insights for automotive R&D, manufacturing, and quality control processes.
Leading Segments Within the Tire Machinery Market
This market is categorized by machine type, tire type, and industry verticals. Machine types include mixing machines or rubber mixers, calendaring machines, extrusion machines, multi-extrusion lines, inner liner lines, extruders, cooling units, cutting machines, textile cord cutting lines, and other specialized machinery.
Regarding tire types, the market is divided into radial tires and bias tires. Industry verticals encompass automotive, agriculture, aircraft, and other sectors. Further subcategories break down machine types into more specific equipment such as internal and external mixers, hot and cold calendaring machines, single and twin screw extruders, multi-layer and co-extrusion lines, inner liner extrusion and curing machines, thermoplastic and rubber extruders, water- and air-cooled units, automatic and manual cutting machines, automated and manual textile cord cutting systems, as well as curing presses, bead winding machines, and inspection machines.
Overall, the tire machinery market is positioned for steady growth spurred by technological innovation and expanding tire production requirements across various industries.
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