Tire Retreading Market by Process, Sales Channel, Vehicle Type

List of Tables

The Tire Retreading Market was valued at USD 6.82 billion in 2023, expected to reach USD 7.17 billion in 2024, and is projected to grow at a CAGR of 5.26%, to USD 9.78 billion by 2030.

Tire retreading, a crucial facet within the tire industry, involves refurbishing worn or damaged tires by replacing the tread. This process not only extends the lifespan of the tire but is also more cost-effective and environmentally beneficial than purchasing new ones. The necessity of tire retreading stems from its economic advantages, especially pivotal for commercial transportation fleets eager to minimize operating expenses. Its applications span across various sectors, including aviation, agriculture, and heavy industries, with end-users typically being fleet operators, industrial vehicles, and even private consumers seeking cost efficiency. Market growth is heavily influenced by increasing regulatory support for eco-friendly practices, advances in retreading technologies offering enhanced retread quality, and rising demand in developing nations experiencing economic growth. Potential opportunities lie in technological advancements like automation and revitalizing logistics sectors in emerging markets. For businesses to capitalize on these opportunities, investment in advanced retreading machinery and expanding production capacity in untapped regions is advisable. However, challenges in the market include competition from low-cost new tire manufacturers, fluctuations in crude oil prices affecting production costs, and varying quality standards across different regions. These hurdles, coupled with consumer acceptance issues, necessitate focused efforts in quality assurance and consumer education. Innovation areas ripe for exploration include developing sustainable retreading materials, integrating IoT for tire tracking and performance optimization, and collaboration with automotive OEMs to enhance retread compatibility. The nature of the tire retreading market is fiercely competitive and is experiencing a shift towards sustainable practices. Continuous research in materials science and process automation is crucial for businesses aiming to stay ahead. A clear understanding of regional market demands and strategic alliances with logistics giants could offer a significant growth trajectory, catering to the expanding needs of the global mobility ecosystem.

KEY MARKET STATISTICS
Base Year [2023]	USD 6.82 billion
Estimated Year [2024]	USD 7.17 billion
Forecast Year [2030]	USD 9.78 billion
CAGR (%)	5.26%

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Tire Retreading Market

The Tire Retreading Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Growing demand for retread tires from the commercial vehicle sector
- Inclination toward retreaded tires owing to their positive impact on the environment
- Government initiatives and norms to support adoption of retreaded tires
Market Restraints
- The fluctuating cost of raw material
Market Opportunities
- Improvements and recent launches of retread tires
- Technological advancements in the tire retreading process
Market Challenges
- Operational issues associated with retread tires

PESTLE Analysis: Navigating External Influences in the Tire Retreading Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Tire Retreading Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Tire Retreading Market

A detailed market share analysis in the Tire Retreading Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Tire Retreading Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Tire Retreading Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Key Company Profiles

The report delves into recent significant developments in the Tire Retreading Market, highlighting leading vendors and their innovative profiles. These include Melion Industry Co., Ltd., McCarthy Tire Service, Italmatic SRL, Parrish Tire Company, Nokian Heavy Tyres Ltd., Polar Rubber Products Inc., Continental AG, Kal Tire, Fedan Tire Co., KRAIBURG Holding SE & Co. KG, Pre-Q Galgo Corporation, Marangoni S.p.A., Tyregrip Pvt. Ltd., Best-One Tire & Service, Vaculug Traction Tyres Ltd., The Goodyear Tire & Rubber Company, Delray Tire & Retreading, INc., Snider Fleet Solutions, MRF Limited, Salvadori Srl, TreadWright Tires, Hankook & Company Co., Ltd., Southern Tire Mart, Hawkinson Company, Akarmak, Bridgestone Corporation, Elgi Rubber Company Limited, TCi Tire Centers LLC, Bob Sumerel Tire, Apollo Tyres Ltd., National Tyre & Wheel Ltd., BLACK STAR, Yokohama Rubber Co., Ltd., Pirelli & C. S.p.A., Purcell Tire and Service Centers, Michelin Group, Kit Loong Commercial Tyre Group, Vipal Rubbers, and Insa Turbo Tyres.

Market Segmentation & Coverage

This research report categorizes the Tire Retreading Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Process, market is studied across Mold-cure and Pre-cure.
Based on Sales Channel, market is studied across Independent Service Provider and OEM.
Based on Vehicle Type, market is studied across Automotive and Avitation. The Automotive is further studied across Commercial Vehicle, Off-Road Vehicle, Passenger Cars, and Two-wheelers.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-742BD518454E

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing demand for retread tires from the commercial vehicle sector
  - 5.1.1.2. Inclination toward retreaded tires owing to their positive impact on the environment
  - 5.1.1.3. Government initiatives and norms to support adoption of retreaded tires
- 5.1.2. Restraints
  - 5.1.2.1. The fluctuating cost of raw material
- 5.1.3. Opportunities
  - 5.1.3.1. Improvements and recent launches of retread tires
  - 5.1.3.2. Technological advancements in the tire retreading process
- 5.1.4. Challenges
  - 5.1.4.1. Operational issues associated with retread tires
5.2. Market Segmentation Analysis
- 5.2.1. Process: Rising use of the pre-cure process in tire retreading
- 5.2.2. Vehicle Type: Widening usage in the automotive sector to enhance sustainability and cost-efficiency
5.3. PESTLE Analysis
- 5.3.1. Political
- 5.3.2. Economic
- 5.3.3. Social
- 5.3.4. Technological
- 5.3.5. Legal
- 5.3.6. Environmental

6. Tire Retreading Market, by Process

6.1. Introduction
6.2. Mold-cure
6.3. Pre-cure

7. Tire Retreading Market, by Sales Channel

7.1. Introduction
7.2. Independent Service Provider
7.3. OEM

8. Tire Retreading Market, by Vehicle Type

8.1. Introduction
8.2. Automotive
- 8.2.1. Commercial Vehicle
- 8.2.2. Off-Road Vehicle
- 8.2.3. Passenger Cars
- 8.2.4. Two-wheelers
8.3. Avitation

9. Americas Tire Retreading Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Tire Retreading Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Tire Retreading Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Bandvulc Launch Next Generation Citymaster 5 Bus And Coach Tyre
- 12.3.2. Black Star Launches Leonard, the New Retread Made in Bethune.
- 12.3.3. Bridgestone Opens New Tire Retreading Plants in Colombia.
- 12.3.4. Marangoni Extends Footprint to North India.
- 12.3.5. Commercial Tire Buys GCR Store, Retread Plant
- 12.3.6. Bridgestone Invests USD 60 Million to Expand Abilene Bandag Retread Tire Plant.
- 12.3.7. Bridgestone Partners With Microsoft to Accelerate Digital Transformation.
- 12.3.8. Oliver Rubber Launches Vantage Max Drive II Retread.
- 12.3.9. Hankook unveils hot-retreading factory in Germany
- 12.3.10. Marangoni Is Ready for the Next Phase of Development in India.
- 12.3.11. Vipal's Exclusive Tread Receives 3pmsf Certification
- 12.3.12. Hankook and Vaculug Partner Up For Hankook's Retreading Business in the UK and Ireland.
- 12.3.13. NeroForce to exclusively distribute GIIB Rubber Compound's premium products in Europe with immediate effect
- 12.3.14. Vipal Rubber Expands Partnership with Radburg in Europe.
- 12.3.15. Bridgestone launches all-new R192E radial tyres for e-buses
- 12.3.16. Pomp's Acquires Dale's Tire & Retreading.

Companies Mentioned

1. Melion Industry Co., Ltd.
2. McCarthy Tire Service
3. Italmatic SRL
4. Parrish Tire Company
5. Nokian Heavy Tyres Ltd.
6. Polar Rubber Products Inc.
7. Continental AG
8. Kal Tire
9. Fedan Tire Co.
10. KRAIBURG Holding SE & Co. KG
11. Pre-Q Galgo Corporation
12. Marangoni S.p.A.
13. Tyregrip Pvt. Ltd.
14. Best-One Tire & Service
15. Vaculug Traction Tyres Ltd.
16. The Goodyear Tire & Rubber Company
17. Delray Tire & Retreading, INc.
18. Snider Fleet Solutions
19. MRF Limited
20. Salvadori Srl
21. TreadWright Tires
22. Hankook & Company Co., Ltd.
23. Southern Tire Mart
24. Hawkinson Company
25. Akarmak
26. Bridgestone Corporation
27. Elgi Rubber Company Limited
28. TCi Tire Centers LLC
29. Bob Sumerel Tire
30. Apollo Tyres Ltd.
31. National Tyre & Wheel Ltd.
32. BLACK STAR
33. Yokohama Rubber Co., Ltd.
34. Pirelli & C. S.p.A.
35. Purcell Tire and Service Centers
36. Michelin Group
37. Kit Loong Commercial Tyre Group
38. Vipal Rubbers
39. Insa Turbo Tyres