ID: MRFR/IA - E/6672-HCR | February 2021 | Region: Global | 100 pages
Tire curing press market is estimated to witness 4.3% CAGR during the period, 2019–2025.
Curing is a process used to give a tire its final shape and tread pattern. Various factors are considered in the tire curing press processes such as power consumption per press, fuel consumption, solvents, tire quality, and electric consumption of the factory. The tire curing press method consists of steam curing and nitrogen curing method, which plays a vital role in the curing process and used for curing tires of scooters, motorcycles, passenger cars, light trucks, trucks, tractors, and off-the-road equipment.
The increasing investments in tire manufacturing and tire remolding remolding globally, growing automotive aftermarket, rising demand for durable tires, and the growing use of rubber additives are the key factors responsible for the growth of this market. The lack of skilled labor labour and the high initial investments needed for setting up a plant are some of the factors that are hindering the market growth. However, the growing tire recycling process, growing per capita disposable income in countries such as China and India, rising demand for eco-friendly tires, and developing economies of countries, such as India, Brazil, and Argentina are creating growth opportunities for the market.
The global tire curing press market has witnessed significant growth during the forecast period. The increasing automation in tire curing press machines help reduce an OEM's engineering effort and maximize the overall productivity. The integration of information systems with Logix controllers that provide data needed to monitor the tire curing press process and create realistic production schedules that improve overall equipment effectiveness (OEE) and track tire production are also contributing to the growth of this market.
The Prominent Players operating in the global market of tire curing press are Larsen & Toubro Limited (India), Mitsubishi Heavy Industries, Ltd (Japan), Harburg-Freudenberger Maschinenbau GmbH (Germany), McNeil and NRM Inc. (US), Greatoo Intelligent (China), Alfred Herbert (India) Ltd. (India), ContiTech AG (Germany), Guilin Rubber Machinery Co., Ltd (China), Rogers Industrial Products, Inc. (US), and CIMA IMPIANTI S.p.a. (Italy).
Global Tire Curing Press Market Segmentation
The tire curing press global market is segmented on the basis of type, application, and region. On the basis of type, the global market has been segmented into mechanical, hydraulic, hybrid, and others. On the basis of application, the global market has been divided into radical tire and ordinary tire.
Geographically, the tire curing press global market has been segmented into four major regions, namely, North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific is estimated to hold the largest market share throughout the forecast period owing to growing automotive and tire recycling industry. Moreover, the rapidly increasing population in countries such as China and India, the improving economic conditions in Thailand, Vietnam, and India, and the rising investments in the automotive aftermarket are expected to further boost the demand for tire curing press in the region. However, North America is expected to witness significant growth during the forecast period due to the growing aviation and commercial vehicle sector in the region. Furthermore, the developing economies of countries in South America and Africa are expected to accelerate the market growth in the rest of the world over the forecast period.
The report for global tire curing press market of Market Research Future covers extensive primary research. This is accompanied by a detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historic and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.
|Market Size||2030: Significant Value|
|CAGR||4.3% CAGR (2022-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Larsen & Toubro Limited (India), Mitsubishi Heavy Industries, Ltd (Japan), Harburg-Freudenberger Maschinenbau GmbH (Germany), McNeil and NRM Inc. (US), Greatoo Intelligent (China), Alfred Herbert (India) Ltd. (India), ContiTech AG (Germany), Guilin Rubber Machinery Co., Ltd (China), Rogers Industrial Products, Inc. (US), and CIMA IMPIANTI S.p.a. (Italy).|
|Key Market Opportunities||
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
At 4.3% CAGR, the tire curing press market will rise during the period 2019–2025.
The snowballing investments in tire manufacturing and tire remolding, budding automotive aftermarket, expansion of durable tires, and the increasing use of rubber additives are the primary growth parameters responsible for tire curing press market.
The top companies leading in the tire curing press market are Mitsubishi Heavy Industries, Ltd (Japan), Harburg-Freudenberger Maschinenbau GmbH (Germany) and Larsen & Toubro Limited (India).
North America, Europe, Asia-Pacific are the top regions with a high market share in the tire curing press market.
The Asia-Pacific region is to prosper with the largest market share in the tire curing press market.