Global Tire Machinery Market was valued US$ XX Mn in 2018 and is expected to reach US$ XX Mn by 2026, at CAGR of XX% during forecast period.
Increase in demand for replacement tires in passenger and commercial vehicles thanks to several factors such as constant exposure to wear and tear, harsh road conditions, need for seasonal tires, and changing consumer perspective are expected to drive the tire machinery market. In commercial vehicles, tires has a short life span and they need to be replaced after completion of five years of the service period.
Both developed and developing countries are observing a rising demand for replacement tires and this encourages manufacturers to enhance the production capacity of tire plants. Hence, the rise in demand for replacement tires is expected to drive the tire machinery market in the future.
Additionally, the building machinery companies are increasingly adopting automation solutions in their manufacturing process to increase their productivity and decrease their maintenance cost, which is expected to supplement the growth of the tired machinery market. However, tire manufacturers find it difficult to manufacture specific tires as per requirement, as it results in changing the entire tire-building process. So, frequent changes in tire specifications and continuous repair & maintenance of the machinery are expected to hamper the growth of the tire machinery market over the forecast period.
According to the application, the passenger car segment follows the motorcycles segment in the tire machinery market. Economic growth along with rising purchasing power has led to increasing car ownership in emerging economies. The significance of tires for vehicular safety is leading to the rapid up-gradation of tire machinery within the tire manufacturing eco-system.
Region-wise, Asia Pacific holds huge potential among key regions in the overall tire machinery market. The rapid purchase of passenger vehicles in emerging economies of the region is serving to boost the entire automotive industry. The Asia Pacific is now considered as a powerhouse of vehicle sales, globally, which indirectly boosts the tire machinery market.
The report covers a recent development for the market of tire machinery such as, In February 2018, SAFE – Run Machinery (Suzhou) Co. Ltd. presented SR-TPU, a light-truck tire building machine, which uses a two-stage process that avoids manual operation, and ensures green tire transfer and improvement in tire uniformity and dynamic balance.
In February 2018, Intralox, a U.S.-based company specialized in conveyor belt manufacturing, presented technologies such as touch-less diverting for green tire sorting and merging, and high-speed touch-less accumulation for both, green and finished tires. During Expo 2018, the company showcased Dual-Stacked Angled Roller Belt (DARB) technology, Zero Tangent radius belts, Transverse Roller Top (TRT) belts, and no-touch accumulation solutions.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Global Tire Machinery Market, By Product
o Multi Extrusion Lines
o Inner Liner Lines
o Cooling Units
o Textile Cord Cutting Lines
o Steel Cord Cutting Lines
• Strip Winding Systems
Global Tire Machinery Market, By Application
• Passenger Cars
• Light Trucks
• Trucks & Buses
• Agriculture/ OTR
• Others (Earthmovers, etc.)
Global Tire Machinery Market, By Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
Key players operating in Global Tire Machinery Market
• All Well Industry Co., Ltd.
• Bartell Machinery Systems Llc.
• Erhardt+Leimer GmbH
• Guilin Zhonghao Mechl&Elec Equipment Co. Ltd.
• Herbert Maschinenbau Gmbh & Co.
• KONŠTRUKTA-TireTech, a.s.
• Larsen & Toubro Limited
• Mitsubishi Heavy Industries, Ltd.
• Nakata Engineering Co. Ltd.
• Pelmar Group Ltd.
• Shenyang Blue Silver Industry Automatic Equipment Co., Ltd.
• Tianjin Saixiang Technology Co., Ltd.
• TKH Group NV
• VMI Holland BV.
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Article Source: 123articleonline.com