Tire Machinery Market Growth, Size, Share, Trends, and Forecast 2032

Tire Machinery Market Insights

According to the report published by Zion Market Research, the global Tire Machinery Market size was valued at USD 2,585.00 Million in 2023 and is predicted to reach USD 3,672.30 Million by the end of 2032. The market is expected to grow with a CAGR of 4.10% during the forecast period. The report analyzes the global Tire Machinery Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Tire Machinery Market industry.

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Global Tire Machinery Market: Overview

Tire machinery is the tire building equipment that is utilized to assemble all the components like an inner liner, tread, body ply, bead, sidewall, and many others. The process of tire manufacturing is completed in two stages. The first phase of manufacturing includes building the tire casing like liners, apex, sidewall. The second phase includes a finished coating of belts and treads for the top of the casing. A high temperature and pressure are applied to the tire during the curing process to form tires of different dimensions. The manufacturing process is fully programmed on the computer to carry on the various operations effectively and simultaneously. The tire building is utilized for mixing, shaping, compounding, and vulcanizing the rubber tires. They are also used in the manufacturing process of metal tires for railcars and locomotives.

Global Tire Machinery Market: Growth Factors

The manufacturers are increasingly adopting the automated tire building solutions to increase the quantity and quality of their production. The vendors are opting for tire machines with low cost of maintenance, high output, and low manpower. Hence, boost the growth of the global tire machinery market. There is a big transition from traditional tires to replacement tires due to the bad road conditions, need for seasonal tires, shifting consumer preferences, wear & tear, and several other factors. The on-going technological advancements enabled the tire building machinery to produce a more sophisticated design coupled with the large tire dimensions.

Increasingly adopting IoT in the global tire machinery market has propelled the demand for advanced tire machinery. The growing integration of automated solutions in tire machinery is fueling the growth of the global market. The proliferation of the automotive industry is a key factor that is boosting the growth of the global tire machinery market. The emergence of newly designed car models that require tires of different shapes and sizes has fueled the demand for tire machinery. The growing economies across the world are anticipated to fuel the growth of the global tire machinery market during the forecast period.

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Global Tire Machinery Market: Segmentation

The global tire machinery market can be segmented into structure, end-users, application, product, and region.

By structure, the market can be segmented into bias tires and radial tires.

By end-users, the market can be segmented into automotive, aircraft, agriculture, and others.

By application, the market can be segmented into passenger vehicles and commercial vehicles. The passenger vehicle segment accounts for the largest share in the global tire machinery market due to the growing disposable income of the people. Moreover, the growing awareness among people regarding vehicular safety is also driving the growth of the segment.

By product, the market can be segmented into a strip winding system, cutting, extrusion, and others. The cutting segment is further bifurcated into steel and textile cord-cutting lines. The extrusion segment is further bifurcated into cooling units, extruders, inner liners, and multi-extrusion lines.

Tire Machinery Market: Report Scope

Global Tire Machinery Market: Regional analysis

Asia Pacific accounts for the largest share in the global tire machinery market due to the rapid proliferation of the automotive sector and growing awareness of people regarding safety. Moreover, the growing demand for passenger vehicles due to the increasing disposable income of the people is further fueling the regional market growth.

North America is a potential region in the global tire machinery market due to the emergence of prominent players in the region.

Global Tire Machinery Market: Competitive Players

Some of the significant players in the global tire machinery market are :

• Shenyang Blue Silver Industry Automatic Equipment Co Ltd.
• TKH Group NV
• Mitsubishi Heavy Industries Ltd.
• Larsen & Toubro Limited
• Harburg-Freudenberger Maschinenbau GmbH
• Tianjin Saixiang Technology Co. Ltd.
• PALMAR GROUP LTD
• Nakata Engineering Co. Ltd.
• Mitsubishi Heavy Industries, Ltd.
• MESNAC
• KONŠTRUKTA-TireTech, a.s.
• Herbert
• Bartell Machinery Systems Llc.
• All Well Industry Co., Ltd.
• VMI Holland BV.
• Guilin Zhonghao Mech Elec Equipment Co. Ltd.
• Erhardt+Leimer GmbH
• Corghi USA
• Giuliano
• Titan International
• HF TireTech
• Bozeman Tire LP
• Ultimation Industries
• Tredz Central
• Wheel Clamping Triumph.

The Global Tire Machinery Market is segmented as follows:

By Structure 

• bias tires
• radial tires 

By End-users 

• automotive
• aircraft 
• agriculture 
• and others 

By Application 

• passenger vehicles 
• commercial vehicles

By Product 

• a strip winding system
• cutting
• extrusion 
• and others

Global Tire Machinery Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.