Tire Building Machinery Market by Application and Geography - Forecast and Analysis 2022-2026

The tire building machinery market share is expected to increase to USD 111.55 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.34%.

This tire building machinery market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers tire building machinery market segmentation by application (passenger cars and commercial vehicle) and geography (APAC, Europe, North America, South America, and Middle East and Africa). The tire building machinery market report also offers information on several market vendors, including Balluff GmbH, BST GmbH, Emerald Resilient Tyre Manufacturers Pvt. Ltd., Erdemtas Makine Elekt.San.Tic. Ltd., Harburg Freudenberger Maschinenbau GmbH, 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. among others.

What will the Tire Building Machinery Market Size be During the Forecast Period?

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Tire Building Machinery Market: Key Drivers, Trends, and Challenges

The increasing demand for replaced tires globally is notably driving the tire building machinery market growth, although factors such as frequent changes in tire specifications may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the tire building machinery industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Tire Building Machinery Market Driver

One of the key factors driving the global tire building machinery market growth is the increasing demand for replaced tires globally. On average, the tires of PVs provided by OEMs could last up to 50,000 miles. However, many owners of late-model Honda CR-Vs complained that they had to replace all four new tires after around 20,000 miles owing to factors like harsh road conditions, demand for seasonal tires, and changing consumer behavior forcing consumers to change tires. In addition, commercial vehicles that render more than five years of service require the replacement of parts or the replacement of the entire vehicle. Such factors have led to the growth of the market in China, Indonesia, Vietnam, India, and Thailand. On the other hand, the increasing pool of old vehicles in developed mature automobile markets such as Japan, the US, and Western Europe contribute to the increasing demand for replacement tires, which, in turn, will be driving the market in the forecast years.

Key Tire Building Machinery Market Trend

Automation in tire building machinery is one of the key tire building machinery market trends that is expected to impact the industry positively in the forecast period. Tires manufacturing requires machines that can combine high production output, consistent reliability, and end-product quality with minimal manpower requirements. Thus, with the technological advancements, it is expected that the new machines should be flexible enough to adapt to trends like large tire dimensions and increase sophistication in designs. For instance; Emerson Electric provides fluid automation solutions for tire manufacturing machines. Rockwell Automation provides the Integrated Architecture with Integrated Safety Function, which can be applied to the tire building machine to reduce the risk of potential hazards, which results in manufacturers achieving EN/ISO 13849-1. Balluff also provides solutions that help in the efficient use of tire building machines. 

Key Tire Building Machinery Market Challenge

One of the key challenges to the global tire building machinery market growth is the frequent changes in tire specifications owing to the increasing stringency of vehicular norms. Decreasing the average vehicle ownership period and the introduction of new models of vehicles also impact the global tire manufacturing machines market. New models of vehicles are often equipped with tires that have unique sizes of tires. As most tire manufacturing machines are not modular, tire manufacturers find it difficult to produce different tire specifications using the same tire building machines, which has significantly affected the demand and share of tire manufacturing companies. For instance, the success of Euro-style vans, especially in the past year, has exceeded the total sales of traditional body-on-frame vans. Such factors may limit the market growth in the coming years.

This tire building machinery market 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.

Parent Market Analysis

Technavio categorizes the global tire building machinery market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the tire building machinery market during the forecast period.

Who are the Major Tire Building Machinery Market Vendors?

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

 

• Balluff GmbH
• BST GmbH
• Emerald Resilient Tyre Manufacturers Pvt. Ltd.
• Erdemtas Makine Elekt.San.Tic. Ltd.
• Harburg Freudenberger Maschinenbau GmbH
• 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
• YANTAI FRIEND MACHINERY CO. LTD.

 

This statistical study of the tire building machinery market encompasses successful business strategies deployed by the key vendors. The tire building machinery market is fragmented and the vendors are deploying growth strategies such as technological innovations to compete in the market.

Product Insights and News

• Larsen and Toubro Ltd. - The company offers tire building machines such as TBR Hydraulic Press. 
• BST GmbH - The company offers tire building machines such as Innerliner Calander, Extrusion, and Calender. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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

Tire Building Machinery Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the tire building machinery 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 Tire Building Machinery Market?

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39% of the market's growth will originate from Europe during the forecast period. Germany is the key market for tire building machinery in Europe. Market growth in this region will be slower than the growth of the market in South America.

The expansion of production coupled with the increased disposable income among the population will facilitate the tire-building machinery market growth in Europe over the forecast period. This market research 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.

COVID Impact and Recovery Analysis

COVID-19's growth had a detrimental influence on motor vehicle sales in this region in 2020. In addition, lockdowns enforced by governments in various nations in the region in 2020 resulted in a serious scarcity of raw materials and labor, which had negatively impacted the demand for tires and auto components in this region. However, In 2021, the success of vaccination drives across the region and the rise in investment inflows into the auto sector led the auto production plants to reopen and helped in the resumption of import of high-end auto vehicles across this region. Such factors will drive the market growth throughout the forecast period.

What are the Revenue-generating Application Segments in the Tire Building Machinery Market?

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The tire building machinery market share growth in the passenger vehicles segment will be significant during the forecast period. Factors like improving the economy, evolving lifestyle, and rising income have resulted in increased demand for new, fuel-efficient, technologically advanced, and safe cars. These factors are responsible for the growing demand for passenger vehicles, which drive the market potential for tire-building machinery. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the tire building machinery market size and actionable market insights on post COVID-19 impact on each segment.

 

Tire Building Machinery Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 3.34%
Market growth 2022-2026	$ 111.55 million
Market structure	Fragmented
YoY growth (%)	2.6
Regional analysis	APAC, Europe, North America, South America, and Middle East and Africa
Performing market contribution	Europe at 39%
Key consumer countries	US, China, Japan, India, and Germany
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Balluff GmbH, BST GmbH, Emerald Resilient Tyre Manufacturers Pvt. Ltd., Erdemtas Makine Elekt.San.Tic. Ltd., Harburg Freudenberger Maschinenbau GmbH, 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.
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 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 Tire Building Machinery Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive tire building machinery market growth during the next five years
• Precise estimation of the tire building machinery market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the tire building machinery industry across APAC, Europe, North America, 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 tire building machinery market vendors

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