What is Global Tire Machinery Market?
The Global Tire Machinery Market is a vast and dynamic sector that encompasses a wide range of machinery and equipment used in the production of tires. This market includes everything from the initial design and manufacturing processes to the final stages of tire assembly and finishing. The machinery involved in this market is highly specialized and includes equipment such as extrusion machines, cutting machines, and other specialized machinery designed specifically for tire production. Extrusion machinery is a critical component of the tire manufacturing process. These machines are used to shape the rubber into the specific form required for each type of tire. This process involves heating the rubber to a high temperature and then forcing it through a die to create the desired shape. Cutting machinery, on the other hand, is used to cut the extruded rubber into the correct size and shape for the tire. This machinery must be extremely precise to ensure that each tire is cut to the exact specifications required. Both of these types of machinery play a crucial role in the tire manufacturing process and are therefore a significant part of the Global Tire Machinery Market.
Extrusion Machinery, Cutting Machinery in the Global Tire Machinery Market:
The Global Tire Machinery Market is not limited to just one type of vehicle or use. In fact, this market serves a wide range of areas including motorcycles, passenger cars, light trucks, and others. For motorcycles, the machinery used in tire production must be able to produce smaller, more specialized tires that can handle the unique demands of motorcycle riding. Passenger cars, on the other hand, require a different type of tire that is designed for comfort and longevity. Light trucks require yet another type of tire that is designed to handle heavier loads and more rugged conditions. Other areas that the Global Tire Machinery Market serves include commercial vehicles, agricultural equipment, and even aircraft. Each of these areas requires a different type of tire and therefore a different type of tire machinery.
Motorcycles, Passenger Cars, Light Trucks, Other in the Global Tire Machinery Market:
In terms of market outlook, the Global Tire Machinery Market is showing promising signs of growth. In 2022, the market was valued at a substantial US$ 529 million. Looking ahead, it is expected to reach an impressive US$ 638.2 million by 2029. This represents a compound annual growth rate (CAGR) of 2.3% during the forecast period from 2023 to 2029. This growth is being driven by a number of factors including increasing demand for vehicles, advancements in tire technology, and the ongoing need for tire replacement and maintenance. As the global economy continues to grow and develop, the demand for vehicles and therefore tires is only expected to increase. This, in turn, will drive demand for tire machinery and contribute to the growth of the Global Tire Machinery Market.
| Report Metric | Details |
| Report Name | Tire Machinery Market |
| Accounted market size in 2023 | US$ 556.8 million |
| Forecasted market size in 2029 | US$ 638.2 million |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Sales by Region |
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| By Company | All Well Industry, Bartell Machinery Systems, Erhardt+Leimer GmbH, Guilin ZhonghaoMechl&Elec Equipment, Herbert Maschinenbau, KONSTRUKTA-TireTech, Larsen & Toubro Limited, MESNAC, Mitsubishi Heavy Industries, Nakata Engineering, Pelmar Group, Shenyang Blue Silver Industry Automatic Equipment, Tianjin Saixiang Technology, TKH Group, VMI Holland |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
