Tire Retreading Market Definition
Tire retreading is the remolding of used tires to replace tread on it. The retreaded tires can perform similar to the new tire. This process extends the life of the tire and it includes verification, Shearography, carding, repair, dressing, heating, identification and verification. Additionally, this process includes cold and hot process. As the tire retreading is done in less than half of the cost of new tires it can reduce the operational cost. Hence there is a demand in these tires which is propelling the market.
The market study is broken down, by Application (Passenger Cars, Light Commercial Vehicles and Heavy Commercial Vehicles) and major geographies with country level splits.
In this market of tire retreading new technology has been developed which is called cold process retreading which will improve the production efficiency and fuel the market. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Tire Retreading market throughout the predicted period.
Bridgestone Corp. (Japan), The Goodyear Tire and Rubber (United States), Marangoni S.p.A (Italy), Valley Tire Company (United States), Parrish Tire Company (United States), TreadWright (United States), Redburn Tire Company (United States), Oliver Rubber Company (United States), ETRMA (Belgium) and TOLINS Tyres Pvt. Ltd. (India) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are TVS tread (India) and Shamrock Marketing Inc. (United States).
AdvanceMarketAnalytics has segmented the market of Global Tire Retreading market by Type, Application and Region.
On the basis of geography, the market of Tire Retreading has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End users, the sub-segment i.e. Automobile will boost the Tire Retreading market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Process, the sub-segment i.e. Pre Cure will boost the Tire Retreading market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In January 2019, Bridgestone has made an agreement to acquire TomTom Telematics which provides data platform for connected vehicles. It enables for better driving and improvement of productivity
In June 2018, travel centers of America LLC has purchased a tire retread plant in Bowling Green Ohio. This purchase will provide a good year commercial tire retread products.
- Increasing Adoption of Retreaded Tires among the Consumers
- Rising Environmental Concerns among the Consumers
- Growing Number of Transport as well as Passenger Vehicles are fueling the Growth of the Market
- Environment Friendly Nature of Retreaded Tires
- Lower Cost of Operations Required for Retreading
- Increasing Technological Advancements can create an Opportunity
- Lack of Highly Trained and Skilled Manpower Required for Manufacturing
- Availability of New Tires in Low Cost May Hamper the Market
Key Target AudienceManufacturers, Raw Material Suppliers, Distributors and Traders, Research Organisations, Government Agencies and Organisations
About ApproachThe research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Customization available in this Study:The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
** Confirmation on availability of data would be informed prior purchase