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The tire building machinery market size is forecast to increase by USD 109.3 million at a CAGR of 3.27% between 2023 and 2028. The global market is experiencing significant growth, driven by the increasing demand for replaced tires worldwide. Automation in tire building machinery is a notable trend, as manufacturers seek to increase efficiency and reduce labor costs. The radial tire segment, driven by rising automobile and passenger car sales, dominates the market. Additionally, frequent changes in tire specifications necessitate continuous innovation and adaptation in tire building technology. The global market is experiencing significant growth due to the increasing demand for new tires, particularly in the passenger car and light commercial vehicle segments. These factors, coupled with the growing automotive industry and rising consumer preference for fuel-efficient and high-performance tires, are expected to fuel market growth in the coming years. The tire building machinery market is expected to witness higher expansion, with key players focusing on technological advancements and strategic collaborations to stay competitive.
The market report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The passenger cars segment is estimated to witness significant growth during the forecast period. The global market is experiencing significant growth due to the increasing demand for new tires, particularly in the passenger car and light commercial vehicle segments. This trend is driven by rising automobile sales and improving economies in various regions, leading to an increase in disposable income and a shift towards fuel-efficient, technologically advanced, and safe vehicles. As a result, tire manufacturers are focusing on automation solutions to meet the increasing demand for high-quality tires. Tire building machinery plays a crucial role in the production of tires, including semi-manufactured goods such as tread, sidewall, inner liner, body ply, bead, cord body, and green tires. These machines are essential for producing tires with large dimensions and ensuring dynamic balance, tire uniformity, and other essential tire quality parameters.
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The passenger cars segment accounted for USD 382.70 million in 2018. The tire manufacturing industry is witnessing technological advancements, including the adoption of automation and 3D printing in tire manufacturing. These innovations are expected to reduce manpower requirements and improve the overall efficiency of the tire manufacturing process. The radial tire segment dominates the tire building machinery market due to its popularity in the automobile industry. However, the bias tire segment also holds significant potential, particularly in the off-road vehicle market. Raw materials, such as rubber, steel, and textiles, are critical inputs in tire manufacturing, and their availability and cost significantly impact the tire building machinery market. The market is expected to continue growing, driven by the increasing demand for new tires in the automobile industry.
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APAC is estimated to contribute 45% to the growth of the global market during the market forecast period. Technavioâs analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market encompasses automated solutions for manufacturing tires from semi-manufactured goods, including tread, sidewall, inner liner, body ply, bead, cord body, and other components. Tire manufacturers leverage tire building machinery to produce new tires for various applications, such as automobiles, light commercial vehicles, off-road vehicles, and two-wheelers. Technological advancements have led to the adoption of automation in tire manufacturing, reducing manpower requirements and enhancing the quality of tires through dynamic balance and tire uniformity. The radial tire segment, driven by rising automobile and passenger car sales, dominates the market. Additionally, the tire industry explores 3D printing technology for tire manufacturing, offering the potential for innovation in the industry. Raw materials, such as rubber, steel, and textiles, are essential inputs for tire manufacturing. The tire manufacturing process involves various stages, including mixing, extrusion, curing, and building, which require specialized tire building equipment.
The market is a significant sector in the Tire Industry, focusing on the production of machinery used in manufacturing tires. The market caters to the demand for tire building machinery used in producing various types of tires, including those for automobiles, light commercial vehicles, and off-road vehicles. The key components of tire manufacturing include tread, sidewall, inner liner, body ply, bead, cord body, and green tires. Tire manufacturers continue to invest in automation solutions to reduce manpower requirement and improve technological advancement. The Tire Machinery Industry has seen significant growth due to the Rising automobile sales and Passenger car sales. Radial tires have gained popularity due to their superior performance and durability. Large tire dimensions are also a trend in the market, requiring specialized machinery for their production. New tires are continuously being developed, driving the demand for advanced tire building machinery. The market is expected to continue its growth trajectory in the coming years. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing demand for replaced tires globally is notably driving market growth. The market is experiencing significant growth due to the increasing demand for tire replacement in the automotive industry. Tires are subjected to continuous wear and tear during vehicle operation, and their lifespan can vary depending on factors such as terrain and driving conditions. For instance, while original equipment manufacturer (OEM) tires for passenger cars may last up to 50,000 miles, actual tire life can be significantly less. Consumers have reported replacing tires as early as 20,000 miles, even for new tires marketed to last 50,000 miles or more. To meet the rising demand for tire replacement, tire building machinery manufacturers are focusing on producing high-quality machinery that can efficiently produce tires with longer lifespans. This includes advancements in compounding, mixing, shaping, and curing processes. High-temperature and high-pressure curing processes are essential to ensure the durability and strength of tire casings, liners, belts, treads, and inner liners. Modern tire building machinery utilizes computerized systems for precise control over dimensions and mixing ratios, resulting in consistent tire quality. Technological advancements such as strip winding systems, cutting, extrusion, cooling units, and multi-extrusion lines have reduced the need for manual labor and increased production output. The tire building machinery market caters to the production of rubber tires for automotive applications, as well as metal tires for railcars, locomotives, and other heavy-duty vehicles. The market is influenced by various factors, including shifting consumer preferences, bad road conditions, seasonal tires, and wear and tear. Technological advancements, disposable income, and vehicular safety are also crucial factors driving market growth. As the demand for replacement tires continues to rise, tire building machinery manufacturers will continue to innovate and improve their machinery to meet the evolving needs of the industry. Thus, such factors are driving the growth of the market during the forecast period.
The automation in tire building machinery is the key trend in the market. Tire building machinery plays a crucial role in the production of rubber and metal tires, incorporating liners, belts, treads, and inner liners through a series of processes such as mixing, compounding, shaping, curing, and vulcanizing. These machines must adhere to stringent requirements, including high temperature and pressure conditions during the curing process, to ensure product consistency and durability. Advancements in technology have led to the development of high-output tire building machinery, which can accommodate larger tire dimensions and intricate designs with minimal manpower and maintenance requirements. The shift in consumer preferences towards seasonal tires, replacement tires, and tires suitable for bad road conditions necessitates the flexibility of tire building machinery to adapt to these trends. Moreover, technological advancements in tire manufacturing, such as strip winding systems, cutting, extrusion, cooling units, and multi-extrusion lines, have streamlined the production process and improved product quality. Vendors like Emerson Electric offer fluid automation solutions to enhance the efficiency and reliability of tire building machinery. Overall, tire building machinery must prioritize high production output, consistent reliability, and end-product quality while adapting to evolving industry trends and consumer preferences. Thus, such trends will shape the growth of the market during the forecast period.
The frequent changes in tire specifications is the major challenge that affects the growth of the market. The market is experiencing significant changes due to the evolving automotive industry and increasing consumer preferences. Tire specifications for passenger vehicles have become more intricate, requiring tire manufacturers to adapt their production processes. However, smaller vendors may find it challenging to keep pace with these changes, particularly in the tire building machinery sector. The shortening vehicle ownership period and the continuous introduction of new models have further impacted the market. Tire dimensions, pressure requirements, and the curing process have become more complex, necessitating high-output machinery with low manpower. Traditional tire manufacturing methods, such as strip winding systems, cutting, and extrusion, have given way to more advanced techniques like computer-controlled mixing, shaping, compounding, vulcanizing, and cooling units. These technological advancements have led to the production of high-performance tires, including high-temperature, airless tires pressure-resistant, and seasonal tires for railcars, locomotives, and various vehicular applications. Wear and tear, bad road conditions and vehicular safety are crucial factors driving the demand for replacement tires, further boosting the market. Technological advancements, disposable income, and shifting consumer preferences continue to influence the tire building machinery market. Key components of tire manufacturing machinery include belts, treads, liners, inner liners, and multi-extrusion lines. Overall, the tire building machinery market is expected to grow, offering opportunities for both established players and new entrants. Hence, the above factors will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovatorâs stage to the laggardâs stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
BST GmbH - The company offers tire building machines such as Innerliner Calander, Extrusion, and Calender.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is a significant sector in the Tire Manufacturing Industry, focusing on the production of machinery used in manufacturing tires. This market encompasses various components of tire manufacturing, including robotized machines for semi-manufactured goods like tread, sidewall, inner liner, body ply, bead, cord body, and green tires. Tire manufacturers rely on automation solutions and tire building machinery to meet the increasing demand for new tires in Automobiles, Light Commercial Vehicles, Off-road Vehicles, and other applications. Technological advancement plays a crucial role in the tire Building Machinery industry, with innovations in large tire dimensions, dynamic balance, tire uniformity, and 3D printing revolutionizing the production process. The market is segmented based on tire types, including radial tires, bias tires, and two-wheeler tires. Passenger vehicles and commercial vehicles are the primary consumers of these tires. The Rising automobile sales and passenger car sales are driving the demand for tire manufacturing, leading to an increased focus on the quality of tires and the need for raw materials. The tire manufacturing process requires a significant amount of manpower, making automation a key trend in the industry. Key players in the Tire Building Machinery market include Tire machinery industry leaders, focusing on providing advanced solutions to meet the evolving needs of tire manufacturers.
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Market Scope |
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Report Coverage |
Details |
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Page number |
143 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.27% |
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Market growth 2024-2028 |
USD 109.3 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
3.13 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 45% |
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Key countries |
China, Germany, US, Japan, and India |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Balluff GmbH, BST GmbH, Emerald Resilient Tyre Manufacturers Pvt. Ltd., Erdemtas Makine Elekt.San.Tic. Ltd., Herbstreith and Fox GmbH and Co. KG, Herbert Tire Tooling GmbH and Co. KG, INTEREUROPEAN Srl, Larsen and Toubro Ltd., MARANGONI Group., MESNAC Co. Ltd., Mitsubishi Heavy Industries Ltd., Pelmar Engineering Ltd., RRR Development Co. Inc., SAMSON MACHINERY INC., SHYR CHIUANN MACHINERY INDUSTRY CO. LTD., Siemens AG, Sumitomo Rubber Industries Ltd., TA KU MACHINERY CO. LTD., TKH Group NV, and YANTAI FRIEND MACHINERY CO. LTD. |
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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 |
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Customization purview |
If our 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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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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