Industry Background:
As we know, the car industry is rising internationally, increasing construction & mining machinery purchases, and increasing tire use worldwide is the main driving force for the demand for tire repair. It is projected that increasing luxury vehicle production and advances in connected automotive technology would boost the total demand for advanced tires globally. In addition, tire manufacturer's growing emphasis on new technology such as 3D printing, renewable raw materials, and autonomous vehicles is expected to further raise demand for advanced tires in the future. That in turn would blossom the tire repair business.This growth is primarily driven by Rising Automotive Sector is Driving the Tire Repair Market
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Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Key Companies in Study | ITW Global Tire Repair (United States), Bridgestone Americas, Inc. (United States), Mitsubishi Cars (United States), Firestone Complete Auto Care. (United States), TECH Tire Repair (United States), Goodyear Tires (United States), Lynchburg & Forest, VA (United States), Tires Plus Total Car Care (United States) and Hunter Engineering Company (United States) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Globally, a noticeable market trend is evident Adoption of Technologies in Tire Repair Market from Repairing Tools. Major Vendors, such as ITW Global Tire Repair (United States), Bridgestone Americas, Inc. (United States), Mitsubishi Cars (United States), Firestone Complete Auto Care. (United States), TECH Tire Repair (United States), Goodyear Tires (United States), Lynchburg & Forest, VA (United States), Tires Plus Total Car Care (United States) and Hunter Engineering Company (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In December 2021 Bridgestone Corporation announced the acquisition of Otraco International Pty Ltd. This acquisition is part of the Bridgestone Mid-Term Business Plan's strategic growth investment to drive worldwide expansion of its solutions business (2021-2023). Bridgestone Group's service network, which is already a global leader, will be strengthened by Otraco. It will also benefit the Group's mining tyre and solutions business.
In March 2021, Bridgestone announced the launch of Firestone Direct mobile vehicle service for fleet operators and car owners. The service includes a wide range of maintenance services, repair, and battery checks, breaks & tire installations. Firestone Direct brings offers vehicle maintenance services directly to customers' homes or workplaces to offer maximum convenience with contact-free service.
Market Drivers
- Rising Automotive Sector is Driving the Tire Repair Market
- Increasing Demand for Autonomous and Connected Technologies in Automotive is Expected to Drive the Market for Tire Repair Market
Market Trend
- Adoption of Technologies in Tire Repair Market from Repairing Tools
Restraints
- Inconsistent Raw Material Prices of Reparining Tools may Limit the Growth of the Market.
Opportunities
Increasing Demand for Industrial Automation and Autonomous and Semi-Autonomous Vehicles are Increasing thus Cumulating the Market of Tire Repair
Challenges
High Initial Investments in Repairing Tools
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Tire Repairs Study Sheds Light on
The Tire Repairs Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Tire Repairs industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Tire Repairs industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.