Global Tire Building Machinery Market Size study & Forecast, by Type (Radial tire building machinery, Bias tire building machinery, Customized tire building machinery) By Application (Passenger car tire, Light commercial vehicle tire, Heavy commercial veh

Global Tire Building Machinery Market Size study & Forecast, by Type (Radial tire building machinery, Bias tire building machinery, Customized tire building machinery) By Application (Passenger car tire, Light commercial vehicle tire, Heavy commercial vehicle tire) and Regional Analysis, 2023-2030

Global Tire Building Machinery Market is valued approximately at USD xx billion in 2022 and is anticipated to grow with a healthy growth rate of more than xx% over the forecast period 2023-2030. Tire Building Machinery are designed to assemble various components of a tire, including the inner liner, body plies, belts, and tread, into a finished tire structure. These machines typically consist of a series of stations where different components are added and layered onto a tire-building drum or carousel. The process involves the precise placement of each component to ensure the tire meets specific design and performance requirements. The Tire Building Machinery market is expanding because of factors such as rising demand of off-road motorcycles and increasing sales of car. These machines are integral to the tire manufacturing industry, as they contribute to the automation and efficiency of the production process. As a result, the demand of Tire Building Machinery has progressively increased in the international market during the forecast period 2023-2030.

Off-road motorcycles often require specific tire designs to handle different terrains such as mud, gravel, sand, or rocks. Tire Building Machinery can accommodate the production of a variety of tire designs with specific tread patterns, materials, and structures suitable for off-road conditions, catering to the diverse needs of off-road motorcycle enthusiasts. According to Statista, the global Off-road Motorcycles market value accounted USD 7.06 billion in 2020 and is projected to reach up to USD 9.69 billion by the year 2028. Higher demand for off-road motorcycles leads to an increased need for off-road tires. Another important factor driving the Tire Building Machinery market is increasing sales of cars. Higher sales volumes and market competition encourage tire manufacturers to invest in the latest tire-building technologies. Upgrading machinery allows them to improve production efficiency, reduce costs and enhance the overall quality of tires. In addition, as per Statista, number of cars sold globally accounted for 63.8 million units and is projected to reach up to 77 million units by 2024. Moreover, rising integration of radial tires among automobiles and advancements in tire machinery is anticipated to create a lucrative growth opportunity for the market over the forecast period. However, high initial cost of tire building machinery and lack of operational expertise is going to impede overall market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Tire Building Machinery Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with largest market share owing to the growing demand for automobiles and growing number of passenger and commercial motor vehicles in the region. The growth in the automotive industry often drives technological advancements, and this includes innovations in tire design and manufacturing. Tire Building Machinery is continuously evolving to incorporate new technologies, materials, and processes, enabling tire manufacturers to stay competitive and meet the changing requirements of the market. The region’s dominant performance is anticipated to propel the overall demand of Tire Building Machinery. Furthermore, Asia Pacific is expected to grow as the fastest growing region during the forecast period, owing to factors such as presence of major OEMs, such as Larsen & Toubro Ltd, Mitsubishi Heavy Industries, Ltd in the region.

Major market player included in this report are:
Larsen & Toubro Limited
Samson Machinery Inc
TKH Group N.V.
VMI Holland B.V.
Balluff GmbH
HF Tiretech Suzhou Co., Ltd
RRR Development Company Limited
Harburg-Freudenberger Maschinenbau GmbH
Mitsubishi Heavy Industries, Ltd
Pelmar Engineering Limited

Recent Developments in the Market:
 In July 2023, TireTech, a German startup, has created an AI-enabled tyre inspection system that employs 3D technology to scan and collect data on individual tyre condition and material composition. The technology attempts to improve tyre recycling and repurposing by identifying whether they may be recycled for automotive use or ground into granulate material.

Global Tire Building Machinery Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered - Type, Application, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Type
Radial tire building machinery
Bias tire building machinery
Customized tire building machinery

By Application
Passenger car tire
Light commercial vehicle tire
Heavy commercial vehicle tire

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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