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LONDON, GREATER LONDON, UNITED KINGDOM, June 20, 2025 /EINPresswire.com/ -- What Is The Growth Trajectory Of The Tire Machinery Market?
The tire machinery market size has observed a consistent growth in recent years. The observed market value was $2.59 billion in 2024 and is projected to increase to $2.68 billion in 2025 at a compound annual growth rate CAGR of 3.8%. The expansion during this historical period can be attributed to several factors including the growth of the automotive industry, globalization of trade and supply chains, the robust replacement tire market, advancements in tire technology, and efficient tire retreading practices.
What Lies Ahead For The Tire Machinery Market?
This market size is expected to witness robust growth in the next few years, with an anticipated value of $3.29 billion in 2029 at a compound annual growth rate CAGR of 5.3%. The expansion in the forecast period can be attributed to the increasing adoption of electric vehicles EVs and sustainable tires, the integration of smart manufacturing and Industry 4.0 concepts, focus on a circular economy, rise in commercial fleets, and global infrastructure development. Major trends propelling the industry include the integration of robotics and automation in tire production, focus on tire testing and quality control systems, introduction of intelligent tire manufacturing platforms, adoption of 3D printing technology for tire prototyping, and development of tire recycling and retreading equipment.
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What Is Propelling The Growth Of The Tire Machinery Market?
Driving the market forward, the rising demand for automobiles is anticipated to fuel the growth of the tire machinery market. The automotive manufacturing industry, which includes designing, building, supplying, and selling automobiles, necessitates tires that provide enhanced durability, strength, and longevity. At this juncture, tire machinery proves instrumental for businesses, helping to manufacture the required tires with increased efficiency and lower investments.
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Which Global Leaders Steer The Tire Machinery Market?
Key industry players operating in this market include some major names such as Guilin Zhonghao Mechanical & Electrical Equipment Co Ltd., All Well Industry Co Ltd., Larsen & Toubro Limited, Kobe Steel Ltd. Kobelco, Harburg-Freudenberger Maschinenbau GmbH, MESNAC Co Ltd., Davis Standard LLC, and others. These companies have continually consolidated the growth trajectory of the market with their advanced machinery and innovative operations.
What's New In The Tire Machinery Market?
Adding an interesting twist to the market trend, strategic partnerships are gaining traction in the tire machinery market. Major companies operating in tire machinery are forming partnerships to develop advanced manufacturing machinery for tires.
How Is The Tire Machinery Market Segmented?
This market report covers the market segmented in several ways:
1 By Machine Type: Mixing Machine Or Rubber Mixers, Calendaring Machine, Extrusion Machine, Multi Extrusion Lines, Inner Liner Lines, Extruders, Cooling Units, Cutting Machines, Textile Cord Cutting Lines, Other Machinery Types
2 By Tire Type: Radial Tire, Bias Tire
3 By Industry Vertical: Automotive, Agriculture, Aircraft, Other Verticals
What Are The Regional Insights Of The Tire Machinery Market?
Asia-Pacific emerged as the largest region in the tire machinery market in 2024. Additional regions covered in this market report include Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries evaluated in the report comprise Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
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