Tire Building Machinery Market is segmented by Structure (Bias Tire and Radial Tire), and by Application (Passenger vehicles and Commercial vehicles), and by Region (United States, Canada, Mexico, France, Germany, Italy, Spain, United Kingdom, Russia, China, India, Philippines, Malaysia, Australia, Austria, South Korea, Middle East, Japan, Africa and Rest of World)
Tire Building Machinery Market Size shall reach a value of $910.8 Million in 2027, growing with a CAGR of 3.2% during the forecast period of 2020 to 2027.
Market Definition / Research Scope
Tire building machines are devices used in tire producing plants and are designed to assemble the different factors constructing the tire into a round cylindrical shape. A tire building machine assembles factors such as inner liner, body ply, bead, tread, sidewall, and cord body to build green tires. Each process is programmed to perform different operations and to give a proportional building cycle.
Tire building machinery is majorly and widely used in the automobile industry to produce huge tire dimensions and new tires with elegant designs. A tire building machine builds a tire on a flat drum in a two-stage process. The casing is built in the first stage, while the treads and belts are applied on top of the casing in the second stage. This formed assembly is largely referred to as a green tire.
The green tire is moistures with unique materials before vulcanization. In the curing press, the tire is shaped under pressure and heat for a certain time and gets its pattern or design by the grooves grated on the mold surface.
Tire Building Machinery Market Growth and Trends
Driving factors for the Industry :
• Tire manufacturers are consistently adopting automation and solution with high production output, low maintenance cost as well as low manpower requirement to enhance their production efficiency therefore the tire building machines are experiencing high demand leading to heavy growth of the global market.
• Growing demand for replacement tires in various passenger and commercial vehicles owing to consistent exposure to wear and tear bad road conditions and changing customers perspective is expected to drive the demand and growth of the global tire building machinery market in the upcoming years. Rising demand for replacement of tires in various developed and developing countries all over the world will enhanced the production capacity of tire plant industry sector, thereby this in turn accelerate the demand and growth of the tire building machinery market.
• Implementation of new and better technologies like internet of things (IOT) is expected to advance the growth of the tire building machinery industry in the next few years.
• South Africa and Asia-Pacific regions like India, China, Japan will drive a potential demand for the construction machinery and in turn is expected to boost the growth and demand for the global industrial tire building machinery market in near future.
• Rapid economic growth and increasing population growth having disposable income has let to increase in car and other vehicle owner ship in developing economies all around the world. The importance of tires for vehicular safety in results in rapid upgradation of the tire machinery and therefore boosting the global market growth.
• Tire building machinery companies are rapidly opting for automation solution to manufacture and maintain their products which in turn allows them to increase their productivity and lower maintenance cost. This is a key trend fuelling the growth of the industrial tire building machinery market.
Challenges for the Industry :
• Manufacturing of specific tires as per specific requirement is difficult for the tire manufacturing industry sector because it will result in the altering of the entire tire building process hence frequent alteration in tire manufacturing specification are anticipated to hinder the building machinery growth in the upcoming years.
Tire Building Machinery Market Regional Analysis
The Asia Pacific region mainly includes India, Japan, Australia, China, South East Asian countries, Singapore, Southern countries, and Indonesia dominating the market because of an increase in the large investments in the automobile industry and tire building machinery market. North America, which mainly includes countries like the United States and Canada, is also overgrowing, attributed to an increase in the demand for retirement tires in the commercial and vehicle industries. They are long lasting and have a lower maintenance cost. Central Europe, Germany, France, Italy, and the United Kingdom are also growing at a rapid rate because of the increase in the growth of the manufacturing industries.
Tire Building Machinery Market Share and Competition
Key companies operating in this industry are: Harburg-Freudenberger Maschinenbau GmbH, Larsen & Toubro Limited, Mitsubishi Heavy Industries Ltd., TKH Group NV, and Shenyang Blue Silver Industry Automatic Equipment Co Ltd. Similar industries in this domain that is growing at a high CAGR include Bicycle Tube and Tire Market and Off-road Tires Market.
Tire Building Machinery Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2020 – 2027)
• Data breakdown for every market segment (2020 – 2027)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Structure Analysis (Revenue, USD Million, 2020 - 2027)
• Bias Tire
• Radial Tire
Application Analysis (Revenue, USD Million, 2020 - 2027)
• Passenger vehicles
• Commercial vehicles
Region Analysis (Revenue, USD Million, 2020 - 2027)
• United States
• United Kingdom
• South Korea
• Middle East
• Rest of World
Tire Building Machinery Market Companies
• Harburg-Freudenberger Maschinenbau GmbH
• Larsen & Toubro Limited
• Mitsubishi Heavy Industries Ltd.
• TKH Group NV
• Shenyang Blue Silver Industry Automatic Equipment Co Ltd.
Available Versions: -
United States Tire Building Machinery Market Research Report
Europe Tire Building Machinery Market Research Report
Asia Pacific Tire Building Machinery Market Research Report
India Tire Building Machinery Market Research Report.
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