Automotive Retread Tires Market Highlight:
Retread tires are remanufactured tires which also known as “remold tires”. The manufacturing of retread tires can be carried out through pre-cure and mold cure process, which enhance the stability and toughness of the spent tires. Retread tires preserve about 40% from the overall cost of the new tires and save 20% of the material cost while remanufacturing of old tires. According to OICA, there is a continuous increase in the consumption of retread tires in the heavy commercial vehicles. High prices for the tire in the vehicles will grow the demand for the retread tires.
The global Automotive Retread Tires market is expected to witness ~5% CAGR during the period, 2019 to 2023.
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Companies Analyzed in This Report are:
The prominent players in the global automotive retread tires market include Bridgestone Corporation (Japan), The Goodyear Tire & Rubber Company (US), Michelin (France), Marangoni S.p.A. (Italy), and Nokian Tyres plc (Finland). MRF Tyres (India), KRAIBURG AUSTRIA GmbH & CO. KG (Austria), JK Tyres (India), Pilipinas Kai Rubber Corporation (Philippines), and Eastern Treads (India) are among others.
Automotive Retread Tires Market Research Analysis:
In terms of region, the global market for the automotive retread tires is divided into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is expected to hold the highest CAGR and market share for automotive retread tires. Increased vehicle consumption in countries such as China and India will influence the sales for the automotive retread tires. Increase in environmental awareness and stringent governmnet regulations in China and other countries will influence the manufacturing and consumption of retread tires in the automobiles, thus grow the market share for the region.
Europe implemented strict norms named EC Regulation 108 and EC Regulation 109 regarding the remanufacturing of passenger car and commercial vehicle tires. These norms will mandate the recycling of used tires. Additionally, in the US, the department of transport ready to implement the “DOTR Number”, which gives you the information about the name of the retreader and the year of retearded. The favorable government policies will play a significant role in the positive increment of the automotive retread tires in Europe and North America. The rest of the world consists of the Middle East and Africa and South America. The Middle East and Africa is expected to dominate the market in the base year and during the forecast period.
Global Automotive Retread Tires Market – Segmentation Analysis:
Global automotive retread tires market is segmented on the basis of process type, sales channel, vehicle type, and region. On the basis of process type, the market has been segmented into pre cure and mold cure.
On the basis of sales channel, the market has been segmented into OEM and aftermarket.
On the basis of vehicle type, the market has been segmented into passenger car, light commercial vehicle, and heavy commercial vehicle.
Table Of Contents
1 Executive Summary
2 Market Introduction
2.2 Scope Of The Study
2.3 Market Structure
2.4 Key Takeaways
2.5 Macro Factor Indicators Analysis
2.5.1 GDP (USD Million)
2.5.2 GNI Per Capita, Atlas Method (USD)
2.5.3 GDP Per Capita PPP (USD)
2.5.4 Macro Indicators Influencing The Automotive Retread Tires For Top 5 Countries
2.5.4. 5 UK
2.6 Market Insights
2.7 List Of Assumptions
3 Research Methodology
3.1 Research On-Highway Vehicle Type
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
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