The latest market report published by Constancy Researchers “Global Retread Tires Market: Growth, Future Prospects, COVID-19 Impact Analysis, Drivers, Restraints, Trends, Opportunities, Investment Landscape, and Competitive Analysis, 2017 – 2028”
Global Retread Tires Market: Overview
The global retread tires market was valued at US$ 13.9 Billion in 2020 and is estimated to grow at a CAGR of 5.1% during the forecast period. The global retread tires market is anticipated to witness substantial growth in the years to come due to the growing demand for automotive vehicles along with the increased demand for retread tires across the globe. The increased commercial and passenger vehicles production coupled with the increased demand for electric vehicles across the globe are some other key factors for the growth of the global retread tires market during the forecast period. Moreover, the emergence of new technologies for retreading coupled with growing partnership between tire manufacturers and automotive manufacturers are some of the key opportunities for the global retread tires market over the upcoming years. Besides, the volatile raw material prices is one of key factors estimated to hamper the global retread tires market growth in the years to come.
Global Retread Tires Market: COVID-19 Impact
The impact of COVID-19 has been considered in the global retread tires market report published by Constancy Researchers Private Limited. According to Constancy Researchers Private Limited COVID-19 analysis on the global retread tires market, the demand for retread tires has decreased due to haltin the manufacturing industry worldwide along with the decreased sales of automotive vehicles during the COVID-19 period.
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Global Retread Tires Market: Report Highlights
- On the basis of sales channel, in the retread tires market, the original equipment manufacturers (OEMs) category had a major share and is estimated to witness highest growth over the upcoming years due to the increased partnership among tire manufacturers and automotive manufacturers.
- On the basis of vehicle type, in the retread tires market, the passenger cars category had a major share in the global market in 2020 and is estimated to continue its dominance over the forecast period. This is ascribed to the highest sales of passenger cars as compared to commercial vehicles along with the increased used car market.
- Based on the regional analysis, Asia Pacific dominated the market in 2020 and is projected to grow at the highest rate during the forecast period. This is majorly due to the rising technological adoption in the automotive manufacturing along with the increased automotive tire production in the region. The low manufacturing cost along with the growing demand for commercial and personal vehicles in the emerging economies are some other key factors for the growth of the Asia pacific retread tires market.
- Mergers & acquisitions, new product launches, strategic partnerships, and collaborations among key players are estimated to be the key strategies in the global retread tires market.
- As per the research by Constancy Researchers Private Limited, the global retread tires market is highly fragmented in nature owing to the presence of a large number of players at the global, regional, and country-level.
List of Key Players of Global Retread Tires Market
- The Bridges tone Group
- Continental Group
- Goodyear Tire And Rubber Company
- Marangoni S.p.A.
- Michelin Group
- Valley Tire Company
- Parrish Tire Company
- Oliver Rubber Company
- REDBURN TIRE COMPANY
- MRF Limited
- JK Tyre & Industries
- Nokian Tyres plc
- Pirelli & C. S.p.A.
- Yokohama Rubber Company
- Continental AG
- Others
Global Retread Tires Market: Segmentation
Constancy Researchers Private Limited has segmented the global retread tires market on the basis of process type, tire assembly, sales channel, distribution channel, vehicle class, and regional analysis-
Global Retread Tires Market: By Process Type
- Pre Cure
- Mold Cure
Global Retread Tires Market: By Tire Assembly
- Tubeless Tires
- Tubed Tires
Global Retread Tires Market: By Sales Channel
- Original Equipment Manufacturer (OEMs)
- Independent Service Providers
Global Retread Tires Market: By Distribution Channel
- Offline
- Online
Global Retread Tires Market: By Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
- Off-road Vehicles
- Two-wheeler
- Electric Vehicles
Global Retread Tires Market: By Regional Analysis
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Latin America (LATAM)
- Brazil
- Mexico
- Rest of Latin America (LATAM)
- Middle East & Africa (MEA)
- United Arab Emirates (UAE)
- Saudi Arabia
- Rest of Middle East & Africa (MEA)
