What is Global Tire Machinery Market?
The Global Tire Machinery Market is a vast and dynamic sector that plays a crucial role in the global economy. This market encompasses the manufacturing and distribution of machinery used in the production of tires. These machines are integral to the tire manufacturing process, aiding in the creation of various types of tires used in vehicles worldwide. The machinery involved ranges from those used in the initial stages of tire production, such as mixing and milling machines, to those used in the final stages, like curing presses. The market's value was estimated at US$ 529 million in 2023, and it is projected to grow steadily, reaching an anticipated value of US$ 638.2 million by 2030. This growth is driven by the increasing demand for vehicles, advancements in tire technology, and the expansion of the automotive industry globally.
Extrusion Machinery, Cutting Machinery in the Global Tire Machinery Market:
Extrusion and cutting machinery are two key components of the Global Tire Machinery Market. Extrusion machinery is used in the initial stages of tire production. It helps in shaping the rubber into the desired form, which is then cut into appropriate sizes using cutting machinery. These machines are designed to handle the high-strength materials used in tire production, ensuring precision and efficiency in the manufacturing process. The advancements in these machines have significantly improved the tire production process, making it more streamlined and cost-effective. The demand for these machines is expected to grow in line with the expanding tire industry.
Motorcycles, Passenger Cars, Light Trucks, Other in the Global Tire Machinery Market:
The Global Tire Machinery Market caters to various segments of the automotive industry, including motorcycles, passenger cars, light trucks, and others. Each of these segments has specific requirements for tires, necessitating the use of specialized tire machinery. For instance, the tires used in motorcycles are different from those used in passenger cars or light trucks, in terms of size, tread pattern, and other features. Therefore, the machinery used in their production also varies. The versatility of the tire machinery market allows it to serve these diverse needs effectively, contributing to its growth.
Global Tire Machinery Market Outlook:
The Global Tire Machinery Market has shown a promising outlook. In 2023, the market was valued at US$ 529 million and is expected to reach US$ 638.2 million by 2030, growing at a CAGR of 2.3%. This growth is supported by the robust performance of the tire industry. In 2022, China, one of the leading players in the tire industry, reported a year-on-year increase of 4.7% in the cumulative export volume of rubber tires, amounting to 7.65 million tons. The export value was 131.418 billion, marking a 16% increase, with a trade surplus of 103.709 billion yuan, up by 15.89 billion. These figures indicate a positive trend in the tire industry, which bodes well for the tire machinery market.
| Report Metric | Details |
| Report Name | Tire Machinery Market |
| Accounted market size in 2023 | US$ 529 million |
| Forecasted market size in 2030 | US$ 638.2 million |
| CAGR | 2.3% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
|
| Segment by Application |
|
| Production by Region |
|
| Consumption by Region |
|
| 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 |
