US - Tire Retreading Market by Product Type, Consumption Pattern and Vehicle Type - Forecast and Analysis 2024-2028

US Tire Retreading Market Report 2024-2028 

The US tire retreading market size is estimated to grow by USD 814.89 million at a CAGR of 3.85% between 2023 and 2028. The market expansion hinges on multiple factors, including the reduced expense of tire retreading, the environmental advantages it offers, and the escalating demand for Medium and Heavy Commercial Vehicles (M and HCVs). The cost-effectiveness of tire retreading, coupled with its positive environmental impact, contributes significantly to market growth. Additionally, the rising preference for M and HCVs amplifies the demand for retreaded tires, as they offer a sustainable and economical solution for fleet operators. These factors collectively fuel the growth trajectory of the tire retreading market.

What will be the size of the Market During the Forecast Period?

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Market Dynamics and Customer Landscape

The market witnesses robust growth driven by various factors. Fleet operators in the logistics sector extensively rely on retread tires to optimize their freight services while reducing wear and tear on vehicle fleets. With advancements in technology, retread tires offer durability comparable to new ones, attracting consumers seeking economical solutions. The Retread Tire Association plays a pivotal role in promoting this sustainable practice. The expansion of the logistics industry and increasing demand for freight transportation further fuel market growth. Key players in the automotive industry, including leading tire manufacturers, cater to the diverse preferences of commercial vehicle sector stakeholders. Retreading systems incorporate advanced tire design technology, ensuring quality and performance in both commercial and consumer vehicles. 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.

Key Market Driver

One of the key factors driving the market growth is the increase in demand for M and HCVs. There have been revolutionary changes in the global commercial vehicle industry in the areas of application, advanced system integration, and electrification of components and systems. In addition, the demand for M and HCVs is growing rapidly in developing economies, such as China, India, Saudi Arabia, members of ASEAN, and countries in Latin America. 

Moreover, there is growth in the commercial vehicle industry due to the ongoing developments in the field of world infrastructure, road networks, urbanization, logistics, trade, and shipping activities. In addition, such developments are leading to fundamental changes in the transportation concept, especially in tier-1 and tier-2 cities. Hence, such factors are positively impacting the market. Therefore, it is expected to drive the market growth during the forecast period.

Major Market Trends

A key factor shaping the market growth is the rising demand for premium quality retreading. Premium quality retreading is gaining traction in the US due to the growing preference for premium retreading over budget tires. In addition, the demand is high in large fleets and heavy goods vehicles, which demand retreaded tires with enhanced durability and rolling resistance.

Moreover, several companies like Marangoni Tread North America Inc., a subsidiary manufacturer of Marangoni, have already introduced their blackline rings line, a premium quality retreading system. In addition, several prominent players are focusing on premium quality retreading to target only the niche market segment to avoid any price war with Chinese players in the US. Hence, such factors are positively impacting the market. Therefore, it is expected to drive the market growth and trends during the forecast period.

Key Market Challenge

The availability of low-cost new tires poses threats which is one of the key challenges hindering the market growth. There has been an increase in demand with the supply remaining the same over the last decade. As a result, it led to a shortage in the market, which fuelled the retreading tire industry significantly. 

Moreover, the recession reduced demand, while new factories increased the supply in the market. Therefore, this versed the scenario with plenty of new tires in the market at a historically lower cost. In addition,  imports from China further reduced the price and bridged the price gap between new and retreads significantly. Hence, such factors are negatively impacting the market. Therefore, it is expected to hinder the market growth during the forecast period.

Customer Landscape

The market trends and analysis research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Customer Landscape

Who are the Major Market Companies?

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.

Aviation Tires and Treads LLC: The company offers tire retreading services which provides services for all components of the tire and are used to inspect for internal defects that may limit the retreadability of a carcass

The market growth analysis report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

• Best One Tire and Service
• Blacks Tire and Auto Service
• Bob Sumerel Tire
• Boulevard Tire Center
• Bridgestone Corp.
• CraftTire Inc.
• Kilgore Tire Center
• Les Schwab Tire Centers
• McCarthy Tire
• McWhorters Tire Co
• New Pride Tire LLC
• Parrish Tire Co.
• Pomps Tire Service Inc
• Southern Tire Mart
• The Goodyear Tire and Rubber Co.
• Tredroc Tire Services
• VSE Corp.
• WILKERSON CO INC.
• Ziegler Tire

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.

Market Segmentation

The market shows significant growth driven by various factors. With advancements in technology, tire manufacturing companies are producing pre-mold retreads that meet customer preferences for economical tires. This growth is further propelled by the expansion of the logistics industry and rising demand for freight transportation, especially in sectors such as the motorsport industry and civil airliners. Fleet operators, including private fleet owners and public/government-municipal fleets, are increasingly opting for retread tires due to their durability and cost-effectiveness. Moreover, the circular economy approach encourages the reuse of end-of-life tires, supported by retread warranties offered by leading service providers like Best One Tire and Service, Blacks Tire and Auto Service, and Bob Sumerel Tire. Through the use of advanced technology and innovative tread designs, retread tires cater to the diverse needs of consumers and fleet managers alike, ensuring reliability and performance in various vehicle types, including sport utility vehicles, walk-in vans, and lightweight delivery vehicles.

By Product

The precure segment is estimated to witness significant growth during the forecast period. The procure process comprises the vulcanization of retread rubber separately, followed by its binding through the cushion gum. In addition, the growth in the adoption of radial tires in the mid-1960s led to the establishment of precure retreading in the commercial vehicles segment in the US, after which it dominated the market

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The precure segment was the largest segment and was valued at USD 3.31 billion in 2018. Moreover, precure retreading manufacturing requires lower investment and incurs lower follow-up costs compared with the mold cure process. In addition, the manufacturers can run decentralized, smaller production units for their precure process, which results in massive savings on logistic costs and initial investment and gives flexibility to the operation. Furthermore, the flexibility facilitates manufacturers to cure multiple tires at the same time in one chamber. Therefore, the time required to retread a greater number of tires decreases, giving more revenue-generating opportunities to the manufacturers. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.

Market Analyst Overview

In the United States, the market caters primarily to heavy and light commercial vehicles, offering a cost-effective alternative to single tire manufacturing. The retreading process, utilizing oil and advanced technologies, ensures reliable tires at a fraction of the cost, promising a significant return on investment. Government bodies oversee regulations, while manufacturers like Bridgestone Corporation and Continental lead innovations in retreading materials and processes. The retread tire demand analysis is a crucial aspect in the dynamic landscape of the tire retreading market, particularly amidst the expansion of the logistics industry.

 

The market is witnessing a surge in demand analysis driven by the expansion of the logistics industry and the growing need for cost-effective solutions in freight transportation. With the rise of warranty-less vehicles, retread warranties have become essential, catering to the requirements of truck drivers and fleet operators. Innovations like jointless tires, made possible by advancements in technology and the availability of raw materials, are reshaping the market. Companies like Best One Tire and Service, Blacks Tire and Auto Service, and Bob Sumerel Tire are leading the charge in providing premium quality retreading services, meeting the preferences of consumers and fleet operators alike. This trend aligns with the circular economy principles, contributing to sustainability by reducing the environmental impact of end-of-life tires. In the automotive industry, stakeholders are focusing on advanced tire design technology and tread designs to enhance rolling resistance and fuel efficiency, especially in commercial vehicles and civil airliners. Market players, including REIFF and TreadWright, leverage discounts and price-effective policies to penetrate the market, with product launches such as the Conti Bharosa warranty program and the Duravis R002 premium tire meeting demands for wet grip and fuel efficiency. With a focus on mobility and safety, retreaded tires like Bridgestone's CrossContact AX6 and Generation 6 tires offer superior traction on wet and slippery roads, incorporating advanced features like open tread patterns and silica tread compounds.

Segment Overview

The market research and growth report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

• Product Type Outlook 
  • Precure
  • Mold cure
• Consumption Pattern Outlook
  • Domestic consumption
  • Export
• Vehicle Type Outlook
  • Commercial vehicle
  • Passenger vehicle

US Tire Retreading Market Scope
Report Coverage	Details
Page number	141
Base year	2023
Historic period	2018 - 2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 3.85%
Market Growth 2024-2028	USD 814.89 million
Market structure	Fragmented
YoY growth 2023-2024(%)	3.69
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	Aviation Tires and Treads LLC, Best One Tire and Service, Blacks Tire and Auto Service, Bob Sumerel Tire, Boulevard Tire Center, Bridgestone Corp., Craft Inc., Kilgore Tire Center, Les Schwab Centers, McCarthy Tire, McWhorters Tire Co, New Pride Tire LLC, Parrish Co., Pomps Tire Service Inc, Southern Mart, The Goodyear Tire and Rubber Co., Tredroc Tire Services, VSE Corp., WILKERSON CO INC., and Ziegler Tire
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, and Market condition analysis for the forecast period.
Customization purview	If our market growth and forecasting 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 Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2024 and 2028
• Precise estimation of the market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across the US
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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