Tire Retreading Market by Process (Mold-cure, Pre-cure), Sales Channel (Independent Service Provider, OEM), Vehicle Type - Global Forecast 2024-2030

Tire Retreading Market by Process (Mold-cure, Pre-cure), Sales Channel (Independent Service Provider, OEM), Vehicle Type - Global Forecast 2024-2030

The Tire Retreading Market size was estimated at USD 6.82 billion in 2023 and expected to reach USD 7.17 billion in 2024, at a CAGR 5.26% to reach USD 9.78 billion by 2030.

Retreading is renewing the tread and sidewall of old tires to make them usable. In this method, a worn tire casing with good structural quality is renewed and passed through a curing process by vulcanizing rubber to the original casing to form a new tread pattern. The growing use of retread tires in commercial vehicles and passenger cars, along with the growing awareness regarding the positive impact on the environment, is resulting in increased adoption of retreaded tires by end-users worldwide. Governments worldwide are taking initiatives for recycling and reusing tires and promoting the use of retreaded tires. However, operational issues pertaining to the use of retreaded tires may limit their adoption by consumers. In addition, the ongoing advancements and research in the tire retreading process are resulting in the development of cost-effective and highly efficient retreaded tires, which is expected to encourage their adoption by end-users across the globe.

Regional Insights

The retreading tire market is highly developing in the Americas owing to the demand for retreaded tires for passenger cars and commercial vehicles and favorable government regulations for recycling and reusing tires. The increasing adoption of vehicles and reduction in tax rates to enable car owners to use retreaded tires are resulting in the growth of the tire retreading market in the EMEA region. The rising vehicle production & sales and a growing focus on developing sustainable products, such as retreaded tires, are expanding the sales of retreaded tires in the APAC region. Additionally, governments worldwide are encouraging recycling and reusing activities to prevent the harmful impact associated with the disposal of products such as worn tires, which is expected to create immense opportunities for the growth of the retreading tire market worldwide.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Tire Retreading Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

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

Market Segmentation Analysis

• Process: Rising use of the pre-cure process in tire retreading
• Vehicle Type: Widening usage in the automotive sector to enhance sustainability and cost-efficiency

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Tire Retreading Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Tire Retreading Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Bandvulc Launch Next Generation Citymaster 5 Bus And Coach Tyre

Bandvulc has recently launched its next-generation Citymaster 5 bus and coach tire, the latest addition to the company's range of products designed specifically for urban transport professionals. The innovative new product features a superior tread pattern that offers improved traction and handling in wet and dry conditions and extra puncture protection, reducing the need for frequent retreading. Its unique design makes it more durable over longer distances with minimal maintenance, making it an attractive option for frequent travelers. Bandvulc's Citymaster 5 promises to deliver exceptional performance and value for money on any city route.

Black Star Launches Leonard, the New Retread Made in Béthune.

Black Star, a leading tire retreading company, has recently launched a new product, Leonard, that is set to revolutionize the industry. Made in Béthune, the retread is designed to offer unparalleled performance that matches new tires. Black Star has been at the forefront of tire retreading for many years, and with the introduction of Leonard, they have further solidified their position as a top player in the market. The product has been designed to focus on quality and durability and uses state-of-the-art technology to achieve exceptional performance. Tire retreading is an excellent alternative to purchasing new tires, and with the launch of Leonard, Black Star has once again shown why they are a force to be reckoned with in the industry.

Bridgestone Opens New Tire Retreading Plants in Colombia.

Bridgestone, a global leader in the tire industry, recently announced the opening of two new tire retreading plants in Colombia. The plants in Bogotá and Medellín are part of the company's commitment to promoting sustainable solutions in the tire market. The retreading process allows tires that have reached the end of their original lifespan to be reused, reducing waste and decreasing the environmental impact of the tire industry. With a focus on quality and safety, Bridgestone's new facilities in Colombia help meet the growing demand for tire retreading in the region while aligning with the company's global sustainability goals.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Tire Retreading Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

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

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:

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

Please Note: PDF & Excel + Online Access - 1 Year