[185 Pages Report] The Tire Retreading Market size was estimated at USD 6.82 billion in 2023 and expected to reach USD 7.17 billion in 2024, at a CAGR 5.26% to reach USD 9.78 billion by 2030.
Retreading is renewing the tread and sidewall of old tires to make them usable. In this method, a worn tire casing with good structural quality is renewed and passed through a curing process by vulcanizing rubber to the original casing to form a new tread pattern. The growing use of retread tires in commercial vehicles and passenger cars, along with the growing awareness regarding the positive impact on the environment, is resulting in increased adoption of retreaded tires by end-users worldwide. Governments worldwide are taking initiatives for recycling and reusing tires and promoting the use of retreaded tires. However, operational issues pertaining to the use of retreaded tires may limit their adoption by consumers. In addition, the ongoing advancements and research in the tire retreading process are resulting in the development of cost-effective and highly efficient retreaded tires, which is expected to encourage their adoption by end-users across the globe.
Process: Rising use of the pre-cure process in tire retreading
The mold-cure method employs a bespoke approach by enveloping the tire’s carcass with unvulcanized rubber and then encasing it within a specialized mold that imprints the tread design under heat and pressure. The mold-cure method enhances customization possibilities for tread patterns tailored to specific requirements and ensures the retreaded tires bear a close resemblance to their brand-new counterparts in aesthetics and function. The pre-cure process capitalizes on efficiency and versatility and relies on applying pre-vulcanized tread strips, already shaped with the desired pattern, onto the adhesive-coated tire casing.
Vehicle Type: Widening usage in the automotive sector to enhance sustainability and cost-efficiency
The automotive sector notably benefits commercial vehicles through substantial cost savings and environmental gains due to the extended service life of tires. Off-road machinery such as construction and agricultural equipment also sees considerable advantages with retreaded tires, given their resilience in harsh conditions. The passenger car sector is gradually embracing retreading for economic and ecological benefits. The two-wheeler sector shows emerging interest, promising future growth as riders recognize the value of retreading for savings and sustainability. In the aviation industry, tire retreading is highly valued for its rigorous adherence to quality standards, ensuring safety, reliability, and cost-effectiveness.
Tire retreading offers a cost-efficient alternative to new purchases in automotive and passenger vehicles, albeit with a lesser adoption rate than in other segments. Retreading is a financially sound and eco-conscious choice in the commercial vehicle segment. In off-road machinery, the durability and performance of retreaded tires provide significant operational cost savings without compromising safety or efficiency. In two-wheelers, tire retreading mirrors the economic and environmental benefits seen in larger vehicles. The aviation industry takes retreading a step further by subjecting tires to rigorous testing, ensuring they meet the highest safety standards, thereby achieving considerable reductions in costs and rubber waste.
Regional Insights
The retreading tire market is highly developing in the Americas owing to the demand for retreaded tires for passenger cars and commercial vehicles and favorable government regulations for recycling and reusing tires. The increasing adoption of vehicles and reduction in tax rates to enable car owners to use retreaded tires are resulting in the growth of the tire retreading market in the EMEA region. The rising vehicle production & sales and a growing focus on developing sustainable products, such as retreaded tires, are expanding the sales of retreaded tires in the APAC region. Additionally, governments worldwide are encouraging recycling and reusing activities to prevent the harmful impact associated with the disposal of products such as worn tires, which is expected to create immense opportunities for the growth of the retreading tire market worldwide.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Tire Retreading Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Tire Retreading Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Tire Retreading Market, highlighting leading vendors and their innovative profiles. These include Akarmak, Apollo Tyres Ltd., Best-One Tire & Service, BLACK STAR, Bob Sumerel Tire, Bridgestone Corporation, Continental AG, Delray Tire & Retreading, INc., Elgi Rubber Company Limited, Fedan Tire Co., Hankook & Company Co., Ltd., Hawkinson Company, Insa Turbo Tyres, Italmatic SRL, Kal Tire, Kit Loong Commercial Tyre Group, KRAIBURG Holding SE & Co. KG, Marangoni S.p.A., McCarthy Tire Service, Melion Industry Co., Ltd., Michelin Group, MRF Limited, National Tyre & Wheel Ltd., Nokian Heavy Tyres Ltd., Parrish Tire Company, Pirelli & C. S.p.A., Polar Rubber Products Inc., Pre-Q Galgo Corporation, Purcell Tire and Service Centers, Salvadori Srl, Snider Fleet Solutions, Southern Tire Mart, TCi Tire Centers LLC, The Goodyear Tire & Rubber Company, TreadWright Tires, Tyregrip Pvt. Ltd., Vaculug Traction Tyres Ltd., Vipal Rubbers, and Yokohama Rubber Co., Ltd..
Market Segmentation & Coverage
This research report categorizes the Tire Retreading Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Process
- Mold-cure
- Pre-cure
- Sales Channel
- Independent Service Provider
- OEM
- Vehicle Type
- Automotive
- Commercial Vehicle
- Off-Road Vehicle
- Passenger Cars
- Two-wheelers
- Avitation
- Automotive
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report offers valuable insights on the following aspects:
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as:
- What is the market size and forecast of the Tire Retreading Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Tire Retreading Market?
- What are the technology trends and regulatory frameworks in the Tire Retreading Market?
- What is the market share of the leading vendors in the Tire Retreading Market?
- Which modes and strategic moves are suitable for entering the Tire Retreading Market?
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