Global Automotive Retread Tires Market is projected to witness 3.7% CAGR by 2032

Market Research Future (MRFR) has published on the “Global Automotive Retread Tires Market”.

Retread tires, sometimes known as recap tires or remolded tires, have undergone a remanufacturing process to replace the worn tread on used tires with new tread to help extend the life of the tire. The Global Automotive Retread Tires Market is consistently growing due to the Increasing demand automotive vehicles across globe and growing support from government through rules & regulations. Furthermore, growing research & development abilities among key players in the market is likely to drive the region’s market throughout the forecast year.

The Automotive Retread Tires market is estimated to register a CAGR of 3.7% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Automotive Retread Tires market - Bridgestone, Michelin, The Goodyear Tire & Rubber Company, Marangoni S.p.A, Nokian Tyre, MRF Tyre, Kraiburg Austria Gmbh & co. KG, Jk Tyre, Continental AG, and Pirelli & C. S.p.A.

Market Highlights

The global Automotive Retread Tires market is accounted for to register a CAGR of 3.7% during the forecast period and is estimated to reach USD 10,865.4 million by 2032.

Rapid growth in the automotive industry across the world has witnessed significant growth in tire consumption, which has led to the rising demand for the automotive tire. U.S. Tire Manufacturers Association (USTMA) projected the U.S. shipment of 342.1 million units in the year 2022 as compared to 335.2 million in the year 2021. As compared to 2021 Original equipment shipments for light trucks, passenger vehicles, and truck tires are expected to rise by 4.8%, 4.8% as well as 7.8% respectively having a total increase of 2.5 million units. Furthermore, the rise in sales of passenger cars around the world such as in 2022, in China passenger car sales rises due to subsidies for EVs. The subsidy has forced the automakers such as Tesla to deepen the discounts to maintain sales. Whereas in India domestic sales of tires are to grow by 7-9% in the year 2022-23, factors such as gradual ease of supply regarding constraints in the passenger vehicle original equipment segment improve the growth of momentum in the commercial vehicle original equipment segment as well as a stable replacement will support domestic demand growth.

Retreading of tires generally comes at almost 40% less than the original developments in new tires and the cost viability offered by retread tires is considered as an essential factor hiking the market development, which is additionally improved by the powerful development of the transportation business. Moreover, the industry news further, suggests that the retread tires and tire retreading are nature-friendly solutions and thus, are seeing help from various managing bodies empowering the utilization of retread tires.

Access full report @ https://www.marketresearchfuture.com/reports/automotive-retread-tires-market-6922

Segmental Analysis

The Automotive Retread Tires segmentation, based on process type, includes Pre-cure and Mold-cure. Among them, Pre-cure segment held the largest market share of 66.9% and is expected to dominate the market over the anticipated period. It is a pre-cure style of tire retreading which involves the use of rubber that has already been vulcanized having the new tread design. A fine layer of cushioned gum is put on the tread area of the new buffed tire as well as the precured tread is applied. This cushioned gum work as a bond for attaching the new layer of the pre-cured tread to the tire. The tire is then put within a curing chamber for completing the adhering stage.

According to sales channel, the segment is divided into OEM, and aftermarket. The OEM segment held the majority share in 2022 contributing around ~ 83.45% to the market revenue. The processes in the OEM segment include the production, procurement, and installation of the automotive retread tire.

The Automotive Retread Tires market research segmentation, by vehicle type, the market is segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles. The Light commercial vehicle (LCV) segment held the majority share in 2022 contributing around ~ 54.22% to the market revenue.

Regional Analysis

By Region, the study segments the market into North America, Europe, Asia-Pacific, Middle East & Africa, and South and Central America. Asia Pacific accounted for the largest share of revenue in 2022 and is expected to retain its dominance in upcoming years in terms of CAGR owing to the immense development of the automotive sector in nations such as China, India, and Japan.

China is the leading market in terms of vehicle sale, globally. The country is one of the most attractive markets for tire manufacturers who are investing by forming joint ventures with local vehicle brands. China is one of the leading countries in terms of consumption of electric vehicles, owing to the introduction of the “Automobile Mid and Long-Term Development Plan” and the presence of BAIC, BYD, and JAC.

The demand for automotive retread tires in construction and industrial equipment vehicles is expected to drive the market in North America. Furthermore, the continuously rising demand for high-performance industrial-grade tires, especially in the replacement market, is expected to offer lucrative opportunities to the automotive retread tire market during the forecast period. Activities, such as off-roading and rally racing, are quite popular in this region. Middle East & Africa region includes countries such as the UAE, Saudi Arabia, Israel, and South Africa, among others. The continuous growth in the sale of vehicles can be attributed to the high GDP and increasing per capita disposable income. South America region includes countries such as Brazil, Argentina, Chile, Peru, and Venezuela. Governments across this region are working on regulations and programs to improve vehicle efficiency to improve the mining and construction activities in the region.

Key Findings of the Study

• The global Automotive Retread Tires market is expected to reach USD 10,865.4 million by 2032, at a CAGR of 3.7% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market, imperative factors, such as the significant number of investments in Asia-Pacific, making it the primary contributor to the market share.


• Based on Process Type, the Pre-cure segment was attributed to holding the largest market in 2022, with an approximate market share of 66.9 %.


• Bridgestone, Michelin, The Goodyear Tire & Rubber Company, Marangoni S.p.A, Nokian Tyre, MRF Tyre, Kraiburg Austria Gmbh & co. KG, Jk Tyre, Continental AG, Pirelli & C. S.p.A., and Others are the key market players.