Global Tire Retreading Market: Future Demand and Growth Analysis

The latest industry research report on Tire Retreading Market by MRC provides a thorough analysis of the global Tire Retreading Market. The report scrutinizes the market by different segments including regions, applications, competitive landscape, etc. over the predicted time frame. This report provides 360 Degree perspective of the Tire Retreading industry with an all-inclusive discussion of definitions, classifications, and market players in the industry chain structure. It features qualitative and quantitative analysis of the industry taking into consideration the significant development factors, competition in the market, and important reasons impacting the market growth.

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 Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Development of LRR retreads. Most tire manufacturers are focusing on tires as means to reduce fuel consumption. The emergence of certain regulatory programs promotes tires that assist in reducing fuel consumption and greenhouse gas emissions by CVs. For instance, the SmartWay program was started by the US EPA to help companies advance their supply chain sustainability by measuring and benchmarking and freight transportation efficiency. The retreads are classified as fuel efficient if they are SmartWay verified.”

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 According to the report, one of the major drivers for this market is Lower cost of retreading compared with new tires. Fleet operators consider tires as an important contributor to their expenses of operating fleet. The cost of tires contributes to one-third of the annual expenditure incurred by fleet operators. Therefore, the adoption of cost-cutting measures in tires is the best way to streamline financial resources. Hence, retreads witnessed developments in the mid-19th century and gained significant adoption in the CVs market.

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 Further, the report states that one of the major factors hindering the growth of this market is Availability of low-cost new tires posing threats to retread tires. In the last decade, the demand for tires increased with supply remaining the same. This led to a shortage of new tires in the market, which had propelled the retreading tire industry significantly. However, recession reduced the tire demand, while new factories increased the supply of new tires. This reversed the scenario with plenty of new tires in the market at historically lower cost. Additionally, imports from China further reduced the price of new tires and bridged the price gap between new tires and retreads significantly. For instance, the price gap reduced to $130 in 2016 from more than $150 in 2013. In the coming years, this gap is expected to reduce further, challenging retread players to optimize the operation and manufacturing to reduce the prices of retreads.

following companies as the key players in the tire retreading market in the US: Bridgestone, Continental, Goodyear Tire & Rubber Company, Marangoni, and MICHELIN

Other Prominent Vendors in the market are: Hawkinson, Les Schwab Tire Center, McCarthy Tire Service, Purcell Tire & Rubber, and Southern Tire Mart.

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