Tire Machinery Market Size, Share, Growth, Trends, Scope, Regional Insights and Forecast 2021 - 2027

The globally, revenue generated by the tire machinery market is estimated to reach US$ 630 Mn in 2019, and expand at a CAGR of 4% in terms of value throughout the forecast period 2021 to 2027.

This growth of the market is the result of the growing number of vehicles across the globe. Moreover, growing industrialization across the globe is also one of the drivers that boosts the growth of the global tire machinery market in the projected period of 2019 to 2027. The experts at Vision Research Reports predict that the global tire machinery market shall bag major revenue showcase major growth potential for the players.

Stringent security Policies for Automotive Manufacturers

Security of the passenger is the most important parameter that every automotive manufacturers have to keep in mind. This parameter not only helps the vehicles to be secure but also helps the motor company to gain trust of the masses, which eventually helps them improve the growth of their business. In this pursuit to provide optimum security for customers, the tires that are being used in the vehicles have to clear certain stringent policies to be used commercially. These stringent policies ensures that the tires are of adequate width and diameter. These parameters can be efficiently full-filled by tire machinery. As a result of these requirements, the demand for machinery is steeply growing these days which is expected to boost the growth of the global tire machinery market from 2019 to 2027.

Motorcycle Tires Segment Projected to Dominate Market

Motorcycle is the fastest growing trend in several developing economies. These two-wheelers provide accomplishment of numerous purposes such as commutation, adventure, and luxuries. Moreover, the youth of these countries are also massively inclined toward riding motorcycles. Due to these demands, the demand for motorcycle tires have elevated extensively in these countries. As a result, the demand for tire machinery for building motorcycle tires has also skyrocketed in recent years. This as a result is the major factor that is boosting the growth of tire machinery market from 2020 to 2027.

Automation –A Crucial Growth Driver

As Industry 4.0 is pacing forward, every business is implementing automation to optimize their business processes. Following this trait, the tire manufacturing industry is also welcoming automation for its growth. An automated tire machinery can manufacture tires of precise size and quality with a faster speed. It is because of this reason the tire machineries are now implementing technologies like AI and IoT. Due to this automation of the global tire machinery market is expected to witness a substantial growth from 2021 to 2027.

Asia Pacific to Experience Prominent Growth

Asia Pacific is projected to hold the lion’s share in the global tire machinery market. The dominance of the region is the result of growing demand for vehicles in countries like India and China. With these demands, Asia Pacific is anticipated to account for 35% of overall growth share of the global tire machinery market from 2021 to 2027.

A Key Driver

• Tire manufacturing companies are witnessing exponential growth due to the rise in the demand for passenger and commercial vehicles. Increase in disposable income and growing road connectivity are some of the prime factors for the rising demand for four wheeler and two wheeler vehicles. According to the International Automotive Industry, in 2017, passenger car production stood at 73.5 million units, with a growth rate of 2.4% annually, with China remaining the largest producer of passenger cars.
• Additionally, according to data published by the International Organization of Motor Vehicle Manufacturers, 2018, total commercial vehicle production, worldwide, stood at 25,136,912 units, out of which, the U.S. accounted for the highest share of approximately 33%, followed by China with 17%. Thus, with the growing number of passenger and commercial vehicles, worldwide, the demand for tire manufacturing machinery is anticipated to grow during the forecast period.
• The overall tire machinery market is concentrating on continual upgrade in automation levels. Manufacturers are also looking for equipment having quicker changeovers in order to increase productivity.
• Additionally, the advent of new tire innovations due to the increasing consumer demand for high-performance tires and off-road tires is forcing tire manufacturers to upgrade their tire manufacturing machinery.
• Environmental laws related to tire manufacturing, tire regulations, changes in raw materials, tire designs, etc., are resulting in significant pressure in tire manufacturing processes, including raw material mixing, tire building, and curing processes. This has resulted in the development of the overall tire manufacturing process with the introduction of automation in the machinery for every process. This factor has resulted in growth of the tire machinery market. 

Key players operating in the global tire machinery market include - 

• All Well Industry Co., Ltd.
• Bartell Machinery Systems Llc.
• Erhardt+Leimer GmbH
• Guilin Zhonghao Mechl&Elec Equipment Co. Ltd.
• Herbert Maschinenbau Gmbh & Co.
• KONŠTRUKTA-TireTech, a.s.
• Larsen & Toubro Limited
• MESNAC
• Mitsubishi Heavy Industries, Ltd.
• Nakata Engineering Co. Ltd.
• Pelmar Group Ltd.
• Shenyang Blue Silver Industry Automatic Equipment Co., Ltd.
• Tianjin Saixiang Technology Co., Ltd.
• TKH Group NV 
• VMI Holland BV.

The global tire machinery market is segmented on the basis of:

• Product
  • Extrusion
    • Multi Extrusion Lines
    • Inner Liner Lines
    • Extruders
    • Cooling Units
  • Cutting
    • Textile Cord Cutting Lines
    • Steel Cord Cutting Lines
  • Strip Winding Systems
• Application
  • Motorcycles
  • Passenger Cars
  • Light Trucks
  • Trucks & Buses
  • Agriculture/ OTR
  • Aircraft
  • Others
• Region
  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

The Tire Machinery market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Tire Machinery market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Tire Machinery market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Tire Machinery market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Tire Machinery market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Tire Machinery capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Tire Machinery by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Tire Machinery market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Tire Machinery market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Tire Machinery market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Tire Machinery industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Tire Machinery market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Tire Machinery market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Tire Machinery market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Tire Machinery market. These factors have benefited the growth of the global market for Tire Machinery. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Tire Machinery. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Tire Machinery are as follows:

• History Year: 2016-2020
• Base Year: 2020
• Estimated Year: 2021
• Forecast Year 2021 to 2027

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2016-2020) and forecast (2021-2027);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.