The tire machinery market size has grown steadily in recent years. It will grow from $2.51 billion in 2023 to $2.62 billion in 2024 at a compound annual growth rate (CAGR) of 4.4%. The growth observed in the historic period was primarily driven by several factors, including the expansion of the automotive industry, the globalization of trade and supply chains impacting tire markets, the demand within the replacement tire market segment, continuous advancements in tire technology, and the utilization of tire retreading practices. These elements collectively contributed to the growth witnessed in the tire industry during that period.
The tire machinery market size is expected to see steady growth in the next few years. It will grow to $3.15 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. In the projected forecast period, growth is anticipated to be fueled by various factors, notably the increasing adoption of electric vehicles (EVs) and the demand for sustainable tires, the implementation of smart manufacturing practices aligned with Industry 4.0 standards, a heightened focus on the circular economy approach, the rise in commercial fleet operations, and global infrastructure development.
The burgeoning demand for automobiles is anticipated to drive the growth of the tire machinery market. Automotive manufacturing necessitates tires with enhanced durability, strength, and longevity. Tire machinery facilitates efficient and cost-effective tire production, meeting these demands. For instance, in Canada, vehicle registrations soared to 26.2 million in 2021, while motor vehicle manufacturing in the country increased from 3,973,874 in August 2022 to 4,123,572 in December 2022. The increasing need for advanced tires, especially in the realm of autonomous vehicles, propels the tire machinery market's growth.
The growing demand for aircraft is set to drive the tire machinery market. Aircraft, designed for flight within Earth's atmosphere, rely on tire machinery for precision-engineered, high-performance tires, ensuring safe operations. According to the Bureau of Infrastructure and Transport Research Economics, RPT aircraft trips surged by 1.7% to 50,318 trips in June 2023 compared to June 2022. Consequently, the soaring demand for aircraft steers the expansion of the tire machinery market.
Strategic partnerships drive advancements in the tire machinery market. Major companies collaborate to innovate and develop tire manufacturing machinery. For instance, ELDAN, a Denmark-based ELT recycling equipment company, partnered with Pyrum, a German tire machinery company, to expand ELT recycling and tire pyrolysis in Europe in April 2022. Additionally, in November 2021, Apollo Tyres, an India-based company, teamed up with Amazon Web Services to create smart tire factories utilizing IoT, data analytics, and machine learning for tire rubber mixer machines' production.
Advancements in the tire machinery market manifest in the development of high-speed tire pressure testing systems, seeking a competitive edge. Tailored equipment such as the high-speed tire pressure testing system specializes in evaluating tire pressure at elevated speeds. For example, in March 2023, Tekscan Inc., a US-based company specializing in pressure and force sensors, introduced the high-speed tirescan. This system accurately measures dynamic contact patch pressure (DCPP) from tires running at speeds up to 265 km/h (165 mph), offering crucial insights for automotive research, quality assurance, manufacturing, and product design.
In August 2021, Nidec Corporation, a Japan-based motors and generators company, completed the acquisition of Mitsubishi Heavy Industries Machine Tool Co. The undisclosed acquisition broadens Nidec's manufacturing portfolio, encompassing various machinery tools. Mitsubishi Heavy Industries Machine Tool Co., based in Japan, is recognized for manufacturing diverse machinery, including tire and rubber machinery.
Major companies operating in the tire machinery market report are Guilin Zhonghao Mechanical & Electrical Equipment Co. Ltd., All Well Industry Co. Ltd., Larsen & Toubro Limited, Kobe Steel Ltd. (Kobelco), Harburg-Freudenberger Maschinenbau GmbH, Ametek Inc., MESNAC Co. Ltd., Davis Standard LLC, Erhardt+Leimer GmbH, Troester GmbH & Co. KG, VMI Holland BV., NFM Welding Engineers Inc., KONŠTRUKTA-TireTech a.s., Bartell Machinery Systems LLC, Farrel Corporation, Shun Cheong Machinery Co. Ltd., Pelmar Group, Nakata Engineering Co. Ltd., HERBERT Maschinenbau GmbH & Co. KG, Jing Day Machinery Industrial Co. Ltd., AS Tyre Machines, HF Tire Tech Group, Krupp GmbH, Qingdao Guangyue Rubber Machinery Manufacturing Co. Ltd., Slach Hydratecs Equipment Pvt. Ltd., Yiyang Rubber & Plastics Machinery Group Co. Ltd., Zhangjiagang Carenovo Technology Co. Ltd., Nanjing Mixer Industrial Co. Ltd., Goldhawk Forming Machinery Co. Ltd., Santosh Rubber Machinery Pvt. Ltd., Wuxi Double Elephant Rubber & Plastics Machinery Co. Ltd.
Asia-Pacific was the largest region in the tire machinery market in 2023. The regions covered in the tire machinery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the tire machinery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Tire machinery encompasses various types such as mixing machines or rubber mixers, calendaring machines, extrusion machines, multi-extrusion lines, inner liner lines, extruders, cooling units, cutting machines, textile cord-cutting lines, and additional equipment. Specifically, rubber mixers are utilized in the rubber industry to blend and process rubber compounds. These machinery types cater to different tire variations such as radial and bias tires, serving industry verticals including automotive, agriculture, aircraft, and various other sectors.
The tire machinery market research report is one of a series of new reports that provides tire machinery market statistics, including tire machinery industry global market size, regional shares, competitors with a tire machinery market share, detailed tire machinery market segments, market trends and opportunities, and any further data you may need to thrive in the tire machinery industry. This tire machinery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The tire machinery market consists of sales of mechanical tire curing presses, hydraulic tire curing presses, and tire-building machines. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The tire machinery market size is expected to see steady growth in the next few years. It will grow to $3.15 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. In the projected forecast period, growth is anticipated to be fueled by various factors, notably the increasing adoption of electric vehicles (EVs) and the demand for sustainable tires, the implementation of smart manufacturing practices aligned with Industry 4.0 standards, a heightened focus on the circular economy approach, the rise in commercial fleet operations, and global infrastructure development.
The burgeoning demand for automobiles is anticipated to drive the growth of the tire machinery market. Automotive manufacturing necessitates tires with enhanced durability, strength, and longevity. Tire machinery facilitates efficient and cost-effective tire production, meeting these demands. For instance, in Canada, vehicle registrations soared to 26.2 million in 2021, while motor vehicle manufacturing in the country increased from 3,973,874 in August 2022 to 4,123,572 in December 2022. The increasing need for advanced tires, especially in the realm of autonomous vehicles, propels the tire machinery market's growth.
The growing demand for aircraft is set to drive the tire machinery market. Aircraft, designed for flight within Earth's atmosphere, rely on tire machinery for precision-engineered, high-performance tires, ensuring safe operations. According to the Bureau of Infrastructure and Transport Research Economics, RPT aircraft trips surged by 1.7% to 50,318 trips in June 2023 compared to June 2022. Consequently, the soaring demand for aircraft steers the expansion of the tire machinery market.
Strategic partnerships drive advancements in the tire machinery market. Major companies collaborate to innovate and develop tire manufacturing machinery. For instance, ELDAN, a Denmark-based ELT recycling equipment company, partnered with Pyrum, a German tire machinery company, to expand ELT recycling and tire pyrolysis in Europe in April 2022. Additionally, in November 2021, Apollo Tyres, an India-based company, teamed up with Amazon Web Services to create smart tire factories utilizing IoT, data analytics, and machine learning for tire rubber mixer machines' production.
Advancements in the tire machinery market manifest in the development of high-speed tire pressure testing systems, seeking a competitive edge. Tailored equipment such as the high-speed tire pressure testing system specializes in evaluating tire pressure at elevated speeds. For example, in March 2023, Tekscan Inc., a US-based company specializing in pressure and force sensors, introduced the high-speed tirescan. This system accurately measures dynamic contact patch pressure (DCPP) from tires running at speeds up to 265 km/h (165 mph), offering crucial insights for automotive research, quality assurance, manufacturing, and product design.
In August 2021, Nidec Corporation, a Japan-based motors and generators company, completed the acquisition of Mitsubishi Heavy Industries Machine Tool Co. The undisclosed acquisition broadens Nidec's manufacturing portfolio, encompassing various machinery tools. Mitsubishi Heavy Industries Machine Tool Co., based in Japan, is recognized for manufacturing diverse machinery, including tire and rubber machinery.
Major companies operating in the tire machinery market report are Guilin Zhonghao Mechanical & Electrical Equipment Co. Ltd., All Well Industry Co. Ltd., Larsen & Toubro Limited, Kobe Steel Ltd. (Kobelco), Harburg-Freudenberger Maschinenbau GmbH, Ametek Inc., MESNAC Co. Ltd., Davis Standard LLC, Erhardt+Leimer GmbH, Troester GmbH & Co. KG, VMI Holland BV., NFM Welding Engineers Inc., KONŠTRUKTA-TireTech a.s., Bartell Machinery Systems LLC, Farrel Corporation, Shun Cheong Machinery Co. Ltd., Pelmar Group, Nakata Engineering Co. Ltd., HERBERT Maschinenbau GmbH & Co. KG, Jing Day Machinery Industrial Co. Ltd., AS Tyre Machines, HF Tire Tech Group, Krupp GmbH, Qingdao Guangyue Rubber Machinery Manufacturing Co. Ltd., Slach Hydratecs Equipment Pvt. Ltd., Yiyang Rubber & Plastics Machinery Group Co. Ltd., Zhangjiagang Carenovo Technology Co. Ltd., Nanjing Mixer Industrial Co. Ltd., Goldhawk Forming Machinery Co. Ltd., Santosh Rubber Machinery Pvt. Ltd., Wuxi Double Elephant Rubber & Plastics Machinery Co. Ltd.
Asia-Pacific was the largest region in the tire machinery market in 2023. The regions covered in the tire machinery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the tire machinery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Tire machinery encompasses various types such as mixing machines or rubber mixers, calendaring machines, extrusion machines, multi-extrusion lines, inner liner lines, extruders, cooling units, cutting machines, textile cord-cutting lines, and additional equipment. Specifically, rubber mixers are utilized in the rubber industry to blend and process rubber compounds. These machinery types cater to different tire variations such as radial and bias tires, serving industry verticals including automotive, agriculture, aircraft, and various other sectors.
The tire machinery market research report is one of a series of new reports that provides tire machinery market statistics, including tire machinery industry global market size, regional shares, competitors with a tire machinery market share, detailed tire machinery market segments, market trends and opportunities, and any further data you may need to thrive in the tire machinery industry. This tire machinery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The tire machinery market consists of sales of mechanical tire curing presses, hydraulic tire curing presses, and tire-building machines. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Tire Machinery Market Characteristics3. Tire Machinery Market Trends and Strategies32. Global Tire Machinery Market Competitive Benchmarking33. Global Tire Machinery Market Competitive Dashboard34. Key Mergers and Acquisitions in the Tire Machinery Market
4. Tire Machinery Market - Macro Economic Scenario
5. Global Tire Machinery Market Size and Growth
6. Tire Machinery Market Segmentation
7. Tire Machinery Market Regional and Country Analysis
8. Asia-Pacific Tire Machinery Market
9. China Tire Machinery Market
10. India Tire Machinery Market
11. Japan Tire Machinery Market
12. Australia Tire Machinery Market
13. Indonesia Tire Machinery Market
14. South Korea Tire Machinery Market
15. Western Europe Tire Machinery Market
16. UK Tire Machinery Market
17. Germany Tire Machinery Market
18. France Tire Machinery Market
19. Italy Tire Machinery Market
20. Spain Tire Machinery Market
21. Eastern Europe Tire Machinery Market
22. Russia Tire Machinery Market
23. North America Tire Machinery Market
24. USA Tire Machinery Market
25. Canada Tire Machinery Market
26. South America Tire Machinery Market
27. Brazil Tire Machinery Market
28. Middle East Tire Machinery Market
29. Africa Tire Machinery Market
30. Tire Machinery Market Competitive Landscape and Company Profiles
31. Tire Machinery Market Other Major and Innovative Companies
35. Tire Machinery Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Tire Machinery Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on tire machinery market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
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- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
- Report will be updated with the latest data and delivered to you with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for tire machinery? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered: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
Key Companies Mentioned: Guilin Zhonghao Mechanical & Electrical Equipment Co. Ltd.; All Well Industry Co. Ltd.; Larsen & Toubro Limited; Kobe Steel Ltd. (Kobelco); Harburg-Freudenberger Maschinenbau GmbH
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- Guilin Zhonghao Mechanical & Electrical Equipment Co. Ltd.
- All Well Industry Co. Ltd.
- Larsen & Toubro Limited
- Kobe Steel Ltd. (Kobelco)
- Harburg-Freudenberger Maschinenbau GmbH
- Ametek Inc.
- MESNAC Co. Ltd.
- Davis Standard LLC
- Erhardt+Leimer GmbH
- Troester GmbH & Co. KG
- VMI Holland BV.
- NFM Welding Engineers Inc.
- KONŠTRUKTA-TireTech a.s.
- Bartell Machinery Systems LLC
- Farrel Corporation
- Shun Cheong Machinery Co. Ltd.
- Pelmar Group
- Nakata Engineering Co. Ltd.
- HERBERT Maschinenbau GmbH & Co. KG
- Jing Day Machinery Industrial Co. Ltd.
- AS Tyre Machines
- HF Tire Tech Group
- Krupp GmbH
- Qingdao Guangyue Rubber Machinery Manufacturing Co. Ltd.
- Slach Hydratecs Equipment Pvt. Ltd.
- Yiyang Rubber & Plastics Machinery Group Co. Ltd.
- Zhangjiagang Carenovo Technology Co. Ltd.
- Nanjing Mixer Industrial Co. Ltd.
- Goldhawk Forming Machinery Co. Ltd.
- Santosh Rubber Machinery Pvt. Ltd.
- Wuxi Double Elephant Rubber & Plastics Machinery Co. Ltd.
