Second Hand Tire Market By Type (Tube Tire, Tubeless Tire), By Design (Radial, Bias), By Vehicle Type (Two Wheelers, Passenger Cars, Commercial Vehicles, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032
The global second hand tire market size was valued at $8,105.2 million in 2018 and is projected to reach $12,465.2 million by 2032, registering a CAGR of 4.0% from 2023 to 2032. Second hand tires are used tires which are sold at a relatively lower cost having minimum tread depth as required by the law in a particular country. Both, tube tires as well as tubeless tires are sold in second hand market for passenger, commercial, as well as industrial vehicles, making the second hand tire market attractive to a variety of customers.
Rise in population has been instrumental in the growth of the automotive sector globally, especially in developing nations. For various vehicle owners in developing nations, replacing the tires of their vehicles is an expensive affair, therefore, they opt for second hand tires. Moreover, second hand tires are readily available at the vehicle repair shops or with the tire retailers. Many companies such as Emanuel Tire, Liberty Tire Recycling, ASM Auto Recycling Ltd., and others offer second hand tires for bult sales and also retail sales.
However, if second hand tires are not properly inspected, there can be safety concerns for the vehicles in which they are installed as well as for other traffic on the road. This is a major restraining factor for the second hand tire market. Furthermore, increasing awareness among the common man regarding environmental protection and demand for sustainable materials, which also include the reuse of usable tires, are anticipated to provide lucrative opportunities for the growth of the second hand tire market.
Furthermore, the price of oil & gas is experiencing increased volatility globally, due to rise in inflation, mainly driven by Ukraine–Russia war. This has led to increased cost of shipping, eventually increasing the prices of second hand tires for end users.
The second hand tire market is segmented on the basis of type, design, vehicle type, and region. By type, the market is divided into tube and tubeless second hand tires. Depending upon design, the market is categorized into radial and bias second hand tires. The vehicle type considered in the report are two wheelers, passenger cars, commercial vehicles, and others. The market is also analyzed across the world, parted into regions including North America, Europe, Asia, Pacific, Latin America, the Middle East, and Africa.
Competition Analysis
Key companies profiled in the second hand tire market report include 2nd Time Around Tires, Allgemeine Gummiwertstoff und Reifenhandels GmbH, ASM Auto Recycling Ltd., BURD Automobile, Emanuel Tire, German Used Tires Co., JBees Tires, Liberty Tire Recycling, Tire Hut, and Turak Tyres. The major players are primarily involved in the export of second hand tires mostly from European and North American countries to countries in Latin America, Africa, and Asia-Pacific.
Key benefits for stakeholders
The report provides an extensive analysis of the current and emerging second hand tire market trends, historic data, and volume data.
In-depth second hand tire market analysis is conducted by constructing market estimations for key market segments between 2018 and 2032.
Extensive analysis of the second hand tire market is conducted by following key product positioning and monitoring of top competitors within the market framework.
A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
The second hand tire market revenue and volume forecast analysis from 2023 to 2032 is included in the report, and 2022 is the base year.
The key players within the second hand tire market are profiled in this report and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the second hand tire industry.
Key Market SegmentsBy TypeTube Tire
Tubeless Tire
By DesignRadial
Bias
By Vehicle TypeTwo Wheelers
Passenger Cars
Commercial Vehicles
Others
By RegionNorth America
U.S.
Canada
Mexico
Porto Rico
Dominica
Europe
Germany
France
UK
Italy
Spain
Netherlands
Belgium
Turkey
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Malaysia
Pakistan
Rest Of Asia
ASEAN
Australia
New Zealand
Africa
South Africa
Egypt
Tunisia
Algeria
Morrocco
Libya
Rest Of Africa
Middle East
Saudi Arabia
Oman
Bahrain
Qatar
Rest Of Middle East
Latin America
Brazil
Argentina
Colombia
Chile
Peru
Rest of Latin America
Key Market Players
2nd Time Around Tires
Allgemeine Gummiwertstoff und Reifenhandels GmbH
ASM Auto Recycling Ltd.
BURD Automobile
Emanuel Tire
German Used Tires Co.
JBees Tires
Liberty Tire Recycling
Tire Hunt
Turak Tyres
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