Tire Retreading Market 2024: Industry Growth, Competitive Analysis, Future Prospects and Forecast 2030

According to MarkNtel Advisors study the Global Tire Retreading Market size was valued at around USD 5.21 million in 2023 and is projected to reach around USD 7.11 million by 2030. Along with this, the market is estimated to grow at a CAGR of about 4.39% during the forecast period, i.e., 2024-30.

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Key Findings of the Study: Tire Retreading market

Global Tire Retreading Market Driver:

Growing Commercial Vehicle Sector Driving Market Growth – The retread tires industry is primarily driven by the booming commercial vehicle sector. The number of commercial vehicles, including trucks, buses, and heavy machinery, on the road rises in tandem with the demand for logistics and transportation services. These vehicles usually need to have their tires changed at regular intervals to maintain fuel efficiency and safety. The retreading process offers an economical and eco-friendly solution to preserve tire performance without having to buy new tires. Retreaded tires have lower costs and a longer lifespan, which helps fleet operators and companies in the commercial vehicle industry better manage operating expenses.

Furthermore, the best retread tires are becoming a more popular choice for heavy-duty use due to the great durability and dependability of contemporary retreading techniques. Thus, the expanding commercial vehicle industry is adopting retread tires from the top retread tire companies and ultimately augmenting the size & volume of the Global Tire Retreading Market.

Global Tire Retreading Market Challenge:

Stringent Regulations & Standards Hindering Market Growth & Expansion – The Global Tire Retreading Market faces major hurdles from stringent regulations and standards. In the process of tire retreading a fresh tread to worn tire casings is added that satisfies safety and performance requirements imposed by regulatory bodies. These regulatory standards, which differ from region to region are meant to ensure that such products are safe and can be used by customers with full trust. Strict testing rules & regulations, cutting-edge technology, and heavy investments in quality control systems are the primary requirements for a retread tire company.

Smaller retreading organizations may find it more difficult to meet these strict requirements since they may not have the funds to purchase the required tools and procedures. Furthermore, to remain compliant, updates and modifications must be made regularly due to changes in regulatory standards. This may result in more complicated operations and higher expenditures. To work as per these standards is crucial for an organization because non-compliance can lead to legal repercussions, and product recalls, which might ultimately damage the reputation of the organization or industry as a whole.

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Scope of the Report and Tire Retreading Market Segmentation:

By Type of Vehicle

• Passenger Cars - Market Size & Forecast 2019-2030, USD Million Commercial Vehicles
  • Light Commercial Vehicles - Market Size & Forecast 2019-2030, USD Million
    • Light Truck - Market Size & Forecast 2019-2030, USD Million
    • Light Bus - Market Size & Forecast 2019-2030, USD Million
    • Minivans - Market Size & Forecast 2019-2030, USD Million
  • Medium Commercial Vehicles
    • Truck - Market Size & Forecast 2019-2030, USD Million
    • Bus- Market Size & Forecast 2019-2030, USD Million
  • Heavy & Ultra Heavy Commercial Vehicles
    • Tractor-Trailers - Market Size & Forecast 2019-2030, USD Million
    • Tippers- Market Size & Forecast 2019-2030, USD Million
  • Off the Road Tire

 By Tire Type

• Radial - Market Size & Forecast 2019-2030, USD Million
• Bias- Market Size & Forecast 2019-2030, USD Million

The radial tire segment holds a major market share due to several factors supporting its widespread application and dominance in the market.

By Retreading Process

• Mold Cure - Market Size & Forecast 2019-2030, USD Million
• Pre-Cure - Market Size & Forecast 2019-2030, USD Million

By Sales Channel

• OEM - Market Size & Forecast 2019-2030, USD Million
• Independent Retreaders - Market Size & Forecast 2019-2030, USD Million

By Tire Size

• Tire Size 1- Market Size & Forecast 2019-2030, USD Million
• Tire Size 2 - Market Size & Forecast 2019-2030, USD Million
• Tire Size 3- Market Size & Forecast 2019-2030, USD Million
• Tire Size 4- Market Size & Forecast 2019-2030, USD Million
• Tire Size 5- Market Size & Forecast 2019-2030, USD Million
• Tire Size 6- Market Size & Forecast 2019-2030, USD Million
• Tire Size 7- Market Size & Forecast 2019-2030, USD Million
• Tire Size 8 - Market Size & Forecast 2019-2030, USD Million
• Tire Size 9 - Market Size & Forecast 2019-2030, USD Million

Tire Retreading Market Competitive Landscape

• Bridgestone
• Continental
• Goodyear Tire & Rubber Company
• Kraiburg Austria
• Marangoni SPA
• Michelin
• MRF Ltd
• Pirelli
• Sumitomo Rubber Industries
• Rethread (Pty) Ltd
• TreadWright Tires
• Vipal Rubber Corporation
• Oliver Rubber Company
• Cooper Tires

Tire Retreading Market Development:

• 2022: A collaborative research and development initiative between Bridgestone Corporation (Bridgestone), Tohoku University, ENEOS Corporation (ENEOS), JGC Holdings Corporation, and the National Institute of Advanced Industrial Science and Technology (AIST) has been announced. The goal of this initiative is to develop chemical recycling systems that can produce high-yield isoprene, a raw ingredient used to make synthetic rubber, from worn tires.
• 2022: The Nissan Ariya is a tiny crossover electric vehicle (EV) SUV. Bridgestone Corporation announced that the Nissan Ariya would now use its ALENZA 001 tire as the official original equipment.

Geographical Analysis:

By Region

• Asia-Pacific
• North America
• South America
• Europe
• Middle East & Africa

Asia-Pacific dominates the Global Tire Retreading Market.

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