Retreading of automotive tires are a re-fabricating process through which the new ones replace worn out and old tire tracks. Retreaded tires increasingly realize entrance in the vehicle market, and the optimized retread plans are propelling the development of the market. The growth in the production of vehicles is surging the need for retread tires in the vehicles. Further, strict government norms and increased environmental concerns will optimize the demand for retread tires among manufacturers and consumers.
MARKET DYNAMICS
Rise in the consumption of tires in the passenger car and especially in heavy commercial vehicles, rising stringent government norms and increased environmental concern, rising innovations in materials are driving the growth of the automotive retread tires market. However, the increase in the prices of vehicles due to increased technology may restrain the growth of the automotive retread tires market. Furthermore, the rising technological advancements and increasing modernization in the production techniques of vehicles and rising research and development activities are anticipated to create a market opportunity for the automotive retread tires market during the forecast period.
MARKET SCOPE
The "Global Automotive Retread Tires Market Analysis To 2028" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The automotive retread tires market report aims to provide an overview of the automotive retread tires market with detailed market segmentation by process type, tire type, vehicle type, and geography. The global automotive retread tires market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading automotive retread tires market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global automotive retread tires market is segmented on the basis of process type, tire type, and vehicle type. Based on process type, the automotive retread tires market is segmented into: pre-cure and mold cure. On the basis of tire type, the automotive retread tires market is segmented into: radial, bias, and solid. Based on vehicle type, the automotive retread tires market is segmented into: passenger vehicles and commercial vehicles.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global automotive retread tires market based on various segments. It also provides market size and forecast estimates from the year 2018 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The automotive retread tires market by each region is later sub-segmented by respective countries and segments. The automotive retread tires market report covers the analysis and forecast of 15 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the automotive retread tires market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis highlighting factors affecting the automotive retread tires market in these regions.
IMPACT OF COVID-19 ON AUTOMOTIVE RETREAD TIRES MARKET
The impact of the COVID-19 pandemic on the market is covered throughout the report. The pandemic has a negative impact on the automotive retread tires market in 2020. The tremendous growth in the spread of the virus has urged governments worldwide to impose strict restrictions on vehicles and human's movement. Due to travel bans, mass lockdowns, and business shutdowns, the pandemic has affected economies and countless industries in various countries. The lockdown imposition has resulted in lesser production of commodities, goods, and services. However, in 2021, with the uplifting of lockdown and vaccination processes, the automotive companies have started working again. So, the demand for automotive retread tires has started rising.
MARKET PLAYERS
The reports cover key developments in the automotive retread tires market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from automotive retread tires market are anticipated to lucrative growth opportunities in the future with the rising demand for filter products in the global market. Below mentioned is the list of few companies engaged in the automotive retread tires market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the automotive retread tires market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Carloni Tire
- CEAT Limited
- Continental AG
- Eastern Treads
- Hankook Tire and Technology Co.,Ltd.
- Pirelli and C. S.p.A.
- Rosler Tech Innovators
- Sumitomo Corporation
- The Goodyear Tire and Rubber Company
- Yokohama Tire Corporation