Automotive Tire Retreading Services Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

Published: Mar 2022

Pages: 135

SKU: IRTNTR72845

Snapshot

Automotive Tire Retreading Services Market Report Forecast 2022-2026

The automotive tire retreading services market share is expected to increase by USD 745.75 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.69%. The global tire retreading market is expected to grow significantly in the coming years due to increasing demand for fuel-efficient and eco-friendly transportation. Retreading tires is a cost-effective and sustainable alternative to buying new tires.

Industry Overview

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Market Size and Growth: Key Drivers, Trends, and Challenges

The environmental benefits associated with the adoption of retreaded tires is notably driving the market growth, although factors such as retreaders facing cost pressure may impede market growth.

Factors Driving the Market Demand

The adoption of retreaded tires is gaining momentum worldwide, with environmental benefits at the forefront. In the United States, businesses are recognizing the cost-effectiveness and advantages of retreading, leading to an expansion in the market. Brazil and Spain are witnessing significant advancements and innovations in retread tire technology, addressing restraints associated with treadwear and quality. The introduction of mold cure processes and remold techniques enhance the overall durability of retreaded tires. Mergers in the industry are shaping the future projections, while the passenger segment is increasingly embracing the environmental advantages of repair and retread options. The global push towards sustainable practices highlights retreaded tires as a promising solution.

Market Trends and Opportunities

Retreaders enhancing service offerings to satisfy customer demands is one of the key market trends that is expected to impact the industry positively in the forecast period. Strong competition in the tire retreading services market is pushing retreaders to streamline operational processes and enhance customer satisfaction through effective servicing. For instance, Goodyear Tire & Rubber uses its authorized retreading process along with exclusive production control and performance reporting system to track retreads from pickup to delivery using multiple barcode labeling. Prominent tire-retreading service providers are investing in new equipment and relocating service centers to tap customers effectively. They are also making efforts to reduce costs to remain competitive and be able to provide value to customers. Fleet management solutions have become crucial offerings for retreaders as they need to traverse beyond traditional solution offerings to provide value to customers. Such enhancements will support the market growth and trends in the coming years.

Future Outlook and Forecast

The automotive retreading tire market is poised for substantial growth, with a promising future outlook and forecast across the globe. Market players are strategically targeting key regions such as Japan, France, Canada, Italy, Latin America, and Asia Pacific to capitalize on the rising demand for retreaded tires. Fleet operators in these countries are increasingly recognizing the economic benefits of retreaded tires for various vehicle types, including passenger cars. As consumers in these regions prioritize cost-effective and sustainable options, the tire retreading market is gaining traction. Ownership costs, especially in countries like Mexico, are driving the adoption of retread tires, making it a significant trend worldwide.

Challenges Faced by the Industry

One of the key challenges to the global retread tire market growth is the cost pressure. The surge of imported new low-cost tires has put tremendous pressure on tire retreading service providers to maintain an edge on price. Additionally, prominent tire manufacturers are engaged in tread supply by adding retreaded offerings to their portfolio amid strong demand from commercial vehicles in the US and countries in the European Union. Prominent tire manufacturers such as Continental, Bridgestone, and Goodyear Tire & Rubber are engaged in manufacturing retreads and offer tire retreading services. This development has created tough competition among small players for making performance retreads at lower costs. The cost pressure is further aggravated by factors such as higher wages and raw material prices, among others, impeding the efficient operations of tire retreading service providers. This will lead to market consolidation, which may limit the market growth in the forecast period.

This market trends and analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Key Players in the Market

The market growth analysis report analyzes the competitive landscape and offers information on several market vendors, including:

This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying growth strategies such as product innovation to compete in the market.

Product Insights and News

Aik Koon Tyre and Battery Co. Pte Ltd. - The company offers retread service which is the process that allows the tyre casing to be reused, thus extending the useable life of the tyre.
Aik Koon Tyre and Battery Co. Pte Ltd. - Under the unified segment, the company offers tyre maintenance, battery replacement, and wheel balancing.

The market research and growth report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Market Value Chain Analysis

Our market growth and forecasting report provides extensive information on the value chain analysis for the market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Market?

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35% of the market's growth will originate from APAC during the forecast period. India, China, and Thailand are the key markets for APAC. However, market growth in this region will be slower than the growth of the market in other regions.

The rapidly growing logistics sector due to a strong boost to e-commerce will facilitate the market growth in APAC over the forecast period. This market forecasting report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Technology Segments in the Market?

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The market share growth by the pre-cure segment will be significant during the forecast period. In the pre-cure process, a used tire goes through the primary initial inspection and buffing process before entering the pre-cure retreading process. This process requires lower investments in addition to reduced follow-up costs, which will drive the segment growth in the coming years. For instance, Bridgestone Bandag retreading is a popular pre-cure retreading process among retreaders.

This market research report provides an accurate prediction of the contribution of all the segments to the growth of the market size.

Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 4.69%
Market growth 2022-2026	USD 745.75 million
Market structure	Fragmented
YoY growth (%)	3.33
Regional analysis	APAC, North America, Europe, South America, and Middle East and Africa
Performing market contribution	APAC at 35%
Key consumer countries	US, India, China, Thailand, and Germany
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Aik Koon Tyre and Battery Co. Pte Ltd., Best-One Tire and Service, Bridgestone Corp., Continental AG, Eastern Treads Ltd, JK Tyre and Industries Ltd., Kal Tire Mining Tire Group, KRAIBURG Austria GmbH and CO. KG, MARANGONI Group, McCarthy Tire Service, Michelin Group, MRF Ltd., Nokian Tyres Plc, Pilipinas Kai Rubber Corp, Pomps Tire Service Inc, Purcell Tire Wholesale Center, Southern Tire Mart, The Goodyear Tire and Rubber Co., Tyresoles, and Zenises ltd
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our market analysis and report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Report?

CAGR of the market during the forecast period 2022-2026
Detailed information on factors that will drive market growth during the next five years
Precise estimation of the market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the industry across APAC, North America, Europe, South America, and Middle East and Africa
A thorough analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of market vendors

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Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Technology
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 12: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between2021 and 2026

4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Technology

5.1 Market segments
- Exhibit 24: Chart on Technology - Market share 2021-2026 (%)
- Exhibit 25: Data Table on Technology - Market share 2021-2026 (%)

5.2 Comparison by Technology
- Exhibit 26: Chart on Comparison by Technology
- Exhibit 27: Data Table on Comparison by Technology

5.3 Pre-cure - Market size and forecast 2021-2026
- Exhibit 28: Chart on Pre-cure - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Pre-cure - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Pre-cure - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Pre-cure - Year-over-year growth 2021-2026 (%)

5.4 Mold cure - Market size and forecast 2021-2026
- Exhibit 32: Chart on Mold cure - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Mold cure - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Mold cure - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Mold cure - Year-over-year growth 2021-2026 (%)

5.5 Market opportunity by Technology
- Exhibit 36: Market opportunity by Technology ($ million)

6 Customer Landscape

6.1 Customer landscape overview
- Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

7.1 Geographic segmentation
- Exhibit 38: Chart on Market share by geography 2021-2026 (%)
- Exhibit 39: Data Table on Market share by geography 2021-2026 (%)

7.2 Geographic comparison
- Exhibit 40: Chart on Geographic comparison
- Exhibit 41: Data Table on Geographic comparison

7.3 APAC - Market size and forecast 2021-2026
- Exhibit 42: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 43: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 44: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 45: Data Table on APAC - Year-over-year growth 2021-2026 (%)

7.4 North America - Market size and forecast 2021-2026
- Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)

7.5 Europe - Market size and forecast 2021-2026
- Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)

7.6 South America - Market size and forecast 2021-2026
- Exhibit 54: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)

7.7 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

7.8 India - Market size and forecast 2021-2026
- Exhibit 62: Chart on India - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on India - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on India - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on India - Year-over-year growth 2021-2026 (%)

7.9 China - Market size and forecast 2021-2026
- Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)

7.10 US - Market size and forecast 2021-2026
- Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)

7.11 Thailand - Market size and forecast 2021-2026
- Exhibit 74: Chart on Thailand - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on Thailand - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on Thailand - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on Thailand - Year-over-year growth 2021-2026 (%)

7.12 Germany - Market size and forecast 2021-2026
- Exhibit 78: Chart on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on Germany - Year-over-year growth 2021-2026 (%)

7.13 Market opportunity by geography
- Exhibit 82: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

8.1 Market drivers

8.2 Market challenges

8.3 Impact of drivers and challenges
- Exhibit 83: Impact of drivers and challenges in 2021 and 2026

8.4 Market trends

9 Vendor Landscape

9.1 Overview

9.2 Vendor landscape
- Exhibit 84: Overview on Criticality of inputs and Factors of differentiation

9.3 Landscape disruption
- Exhibit 85: Overview on factors of disruption

9.4 Industry risks
- Exhibit 86: Impact of key risks on business

10 Vendor Analysis

10.1 Vendors covered
- Exhibit 87: Vendors covered

10.2 Market positioning of vendors
- Exhibit 88: Matrix on vendor position and classification

10.3 Aik Koon Tyre and Battery Co. Pte Ltd.
- Exhibit 89: Aik Koon Tyre and Battery Co. Pte Ltd. - Overview
- Exhibit 90: Aik Koon Tyre and Battery Co. Pte Ltd. - Product / Service
- Exhibit 91: Aik Koon Tyre and Battery Co. Pte Ltd. - Key offerings

10.4 Best-One Tire and Service
- Exhibit 92: Best-One Tire and Service - Overview
- Exhibit 93: Best-One Tire and Service - Product / Service
- Exhibit 94: Best-One Tire and Service - Key offerings

10.5 Bridgestone Corp.
- Exhibit 95: Bridgestone Corp. - Overview
- Exhibit 96: Bridgestone Corp. - Business segments
- Exhibit 97: Bridgestone Corp. - Key news
- Exhibit 98: Bridgestone Corp. - Key offerings
- Exhibit 99: Bridgestone Corp. - Segment focus

10.6 Continental AG
- Exhibit 100: Continental AG - Overview
- Exhibit 101: Continental AG - Business segments
- Exhibit 102: Continental AG - Key news
- Exhibit 103: Continental AG - Key offerings
- Exhibit 104: Continental AG - Segment focus

10.7 Kal Tire Mining Tire Group
- Exhibit 105: Kal Tire Mining Tire Group - Overview
- Exhibit 106: Kal Tire Mining Tire Group - Product / Service
- Exhibit 107: Kal Tire Mining Tire Group - Key offerings

10.8 McCarthy Tire Service
- Exhibit 108: McCarthy Tire Service - Overview
- Exhibit 109: McCarthy Tire Service - Product / Service
- Exhibit 110: McCarthy Tire Service - Key offerings

10.9 Pomps Tire Service Inc
- Exhibit 111: Pomps Tire Service Inc - Overview
- Exhibit 112: Pomps Tire Service Inc - Product / Service
- Exhibit 113: Pomps Tire Service Inc - Key offerings

10.10 Southern Tire Mart
- Exhibit 114: Southern Tire Mart - Overview
- Exhibit 115: Southern Tire Mart - Key offerings

10.11 The Goodyear Tire and Rubber Co.
- Exhibit 116: The Goodyear Tire and Rubber Co. - Overview
- Exhibit 117: The Goodyear Tire and Rubber Co. - Business segments
- Exhibit 118: The Goodyear Tire and Rubber Co. - Key news
- Exhibit 119: The Goodyear Tire and Rubber Co. - Key offerings
- Exhibit 120: The Goodyear Tire and Rubber Co. - Segment focus

10.12 Zenises ltd
- Exhibit 121: Zenises ltd - Overview
- Exhibit 122: Zenises ltd - Product / Service
- Exhibit 123: Zenises ltd - Key offerings

11 Appendix

11.1 Scope of the report

11.2 Inclusions and exclusions checklist
- Exhibit 124: Inclusions checklist
- Exhibit 125: Exclusions checklist

11.3 Currency conversion rates for US$
- Exhibit 126: Currency conversion rates for US$

11.4 Research methodology
- Exhibit 127: Research methodology
- Exhibit 128: Validation techniques employed for market sizing
- Exhibit 129: Information sources

11.5 List of abbreviations
- Exhibit 130: List of abbreviations

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Key Questions Answered

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What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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