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The Tire Machinery Market size was recorded at USD 2.08 Bn in 2023 and is expected to reach USD 2.90 Bn by 2032. And grow at a CAGR of 3.8% over the forecast period of 2024-2032.
The apparatus used to assemble the tread, bead, and carcass of a tire is known as tire building machinery. Usually extremely complex, this equipment makes use of numerous automated procedures to guarantee the precision and uniformity of the final product.
From 2023 to 2031, the global tire market is projected to expand at a compound annual growth rate (CAGR) of 3.5%, driven by factors like rising disposable incomes, increasing vehicle production, and increasing urbanization. Growing demand for high-performance tires: As sports cars and SUVs gain in popularity, so does the need for high-performance tires. The equipment needed to make these tires is more advanced. To create new and more effective machinery, the tire machinery industry is always coming up with new ideas. As a result, tire quality is increased and production costs are decreased.
Automation is being used by tire manufacturers more and more to increase productivity and efficiency. The need for more automated tire machinery is resulting from this. In an effort to lessen their influence on the environment, tire manufacturers are also concentrating on sustainability. This is creating a need for tire machinery that consumes less waste and uses less energy. To enhance their production procedures, tire manufacturers are employing data analytics more and more. Tire equipment that can gather and analyze data is becoming more and more in demand as a result.
The need for tires is directly related to the vehicle sector. There is an increasing demand for automobiles, including cars, trucks, and motorcycles, as the world's population grows and becomes more urbanized. This is what fuels the demand for tire manufacturing machinery. Tire replacement and upkeep are necessary because they have a finite lifespan. Tire machinery is required to manufacture new tires and retread old ones as the number of vehicles on the road increases and the need for tire replacement and servicing grows.
Driver:
The demand for vehicles is primarily driven by the increasing number of vehicles on the planet, especially in developing nations. Since producing EV tires calls for more advanced machinery, the growing demand for EVs is also fueling the need for tire machinery. The market for replacement tires is a significant factor driving demand for tire machinery in addition to the growing need for automobiles. Tires on cars need to be changed on a regular basis as they get older. Tire manufacturers have to produce a lot of replacement tires every year, so this is a big source of demand for tire machinery.
Restrain:
Opportunity
Tires require upkeep or replacement because their lifespan is limited. Tire machinery is required to manufacture new tires and retread old ones as the number of vehicles on the road increases and the need for tire replacement and servicing grows. The creation of eco-friendly or low-rolling-resistance tires, for example, can necessitate the upgrading of machinery in order to manufacture these specialty tire kinds. The demand for machinery designed to produce particular tire varieties, like performance, all-terrain, or winter tires, can also be influenced by consumer preferences.
Challenges
The demand for tire machinery is likely to decrease because companies are less likely to invest in new equipment during a downturn. During a recession, there will probably be less consumer spending, which will lead to a decline in the market for new tires and tire machinery. Companies are likely to become more competitive as they fight to survive in a downturn. Manufacturers of tire machinery may experience lower margins and price wars as a result. Manufacturers of tire machinery may find it harder to get financing during a recession as banks become more cautious. They might find it challenging to grow their business and make investments in new machinery as a result.
Impact of Russia Ukraine War
Numerous industrial machinery manufacturers are based in Ukraine, and the conflict may cause supply chain disruptions for tire machinery spare parts and components. Delays in tire manufacturing equipment maintenance and production could result from this. Machine Types, steel, and other inputs used in the manufacturing of tire machinery may see price increases as a result of supply chain disruptions and geopolitical unrest. This may therefore result in increased tire machinery manufacturing costs, which could have an impact on market pricing. The international trade of tire machinery may be impacted by export restrictions imposed by Russia or Ukraine. The availability of particular machinery or technologies from these regions may be restricted by export prohibitions or sanctions.
By Machine Type
Cooling units
Extruders
Inner Liners Lines
Others
By Tire Type
Radial Tire
Bias Tire
By Application
Two wheelers
Passenger Vehicles
Commercial Vehicles
Others
APAC is said to be the region with the highest share because with more than half of the global market share, the Asia Pacific region is the largest market for tire machinery. Some of the top tire producers in the world, including Bridgestone, Michelin, and Goodyear, are based in the area. The demand for tire machinery is being driven by the expansion of the tire industry in the region. Because of the quick expansion of the automotive sector in nations like China and India, the Asia-Pacific region holds a prominent position in the global tire machinery market.
China is home to many tire machinery manufacturers as it is the world's largest producer and consumer of tires. The need for reasonably priced, high-quality tires has prompted improvements in tire manufacturing equipment and procedures. Sales of tire machinery are increasing, which is also attributed to emerging markets in Southeast Asia.
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The major key players are AS Tyre Machines, All Well Industry, MERTC, MESNAC, Pelmar Group, Plastea Group, Samson Machinery, TKH Group NV, Marangoni Double Star Machinery and others.
| Report Attributes | Details |
| Market Size in 2023 | US$ 2.08 Bn |
| Market Size by 2032 | US$ 2.90 Bn |
| CAGR | CAGR of 3.8 % From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Machine Type (Cooling units, Extruders, Inner Liners Lines, Others) • By Tire Type (Radial Tire, Bias Tire) • By Application (Two wheelers, Passenger Vehicles, Commercial Vehicles, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | AS Tyre Machines, All Well Industry, MERTC, MESNAC, Pelmar Group, Plastea Group, Samson Machinery, TKH Group NV, Marangoni Double Star Machinery |
| Key Drivers | • Rising demand for tire machinery as the increase in sales of vehicles is contributing to the demand. |
| Market Restraints | •The regulatory restrictions and the changes in the trading policies. |
Ans: The Tire Machinery Market is expected to grow at a CAGR of 3.8 %.
Ans: The Tire Machinery Market size was recorded at USD 2.01 Bn in 2022 and is expected to reach USD 3.02 Bn by 2030
Ans: Rising demand for tire machinery as the increase in sales of vehicles is contributing to the demand.
Ans: The current supply chain constrains and the fluctuations in tax rates.
Ans: APAC overtook other regional markets as the largest market for Tire Machinery, with the highest revenue share.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of Russia-Ukraine war
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Tire Machinery Market, By Machine Type
8.1 Cooling units
8.2 Extruders
8.3 Inner Liners Lines
8.4 Others
9. Tire Machinery Market By Tire Type
9.1 Radial Tire
9.2 Bias Tire
10. Tire Machinery Market, By Application
10.1 Two wheelers
10.2 Passenger Vehicles
10.3 Commercial Vehicles
10.4 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 North America Tire Machinery Market by Country
11.2.2North America Tire Machinery Market by Machine Type
11.2.3 North America Tire Machinery Market by Tire Type
11.2.4 North America Tire Machinery Market by Application
11.2.5 USA
11.2.5.1 USA Tire Machinery Market by Machine Type
11.2.5.2 USA Tire Machinery Market by Tire Type
11.2.5.3 USA Tire Machinery Market by Application
11.2.6 Canada
11.2.6.1 Canada Tire Machinery Market by Machine Type
11.2.6.2 Canada Tire Machinery Market by Tire Type
11.2.6.3 Canada Tire Machinery Market by Application
11.2.7 Mexico
11.2.7.1 Mexico Tire Machinery Market by Machine Type
11.2.7.2 Mexico Tire Machinery Market by Tire Type
11.2.7.3 Mexico Tire Machinery Market by Application
11.3 Europe
11.3.1 Eastern Europe
11.3.1.1 Eastern Europe Tire Machinery Market by country
11.3.1.2 Eastern Europe Tire Machinery Market by Machine Type
11.3.1.3 Eastern Europe Tire Machinery Market by Tire Type
11.3.1.4 Eastern Europe Tire Machinery Market by Application
11.3.1.5 Poland
11.3.1.5.1 Poland Tire Machinery Market by Machine Type
11.3.1.5.2 Poland Tire Machinery Market by Tire Type
11.3.1.5.3 Poland Tire Machinery Market by Application
11.3.1.6 Romania
11.3.1.6.1 Romania Tire Machinery Market by Machine Type
11.3.1.6.2 Romania Tire Machinery Market by Tire Type
11.3.1.6.4 Romania Tire Machinery Market by Application
11.3.1.7 Turkey
11.3.1.7.1 Turkey Tire Machinery Market by Machine Type
11.3.1.7.2 Turkey Tire Machinery Market by Tire Type
11.3.1.7.3 Turkey Tire Machinery Market by Application
11.3.1.8 Rest of Eastern Europe
11.3.1.8.1 Rest of Eastern Europe Tire Machinery Market by Machine Type
11.3.1.8.2 Rest of Eastern Europe Tire Machinery Market by Tire Type
11.3.1.8.3 Rest of Eastern Europe Tire Machinery Market by Application
11.3.2 Western Europe
11.3.2.1 Western Europe Tire Machinery Market by Country
11.3.2.2 Western Europe Tire Machinery Market by Machine Type
11.3.2.3 Western Europe Tire Machinery Market by Tire Type
11.3.2.4 Western Europe Tire Machinery Market by Application
11.3.2.5 Germany
11.3.2.5.1 Germany Tire Machinery Market by Machine Type
11.3.2.5.2 Germany Tire Machinery Market by Tire Type
11.3.2.5.3 Germany Tire Machinery Market by Application
11.3.2.6 France
11.3.2.6.1 France Tire Machinery Market by Machine Type
11.3.2.6.2 France Tire Machinery Market by Tire Type
11.3.2.6.3 France Tire Machinery Market by Application
11.3.2.7 UK
11.3.2.7.1 UK Tire Machinery Market by Machine Type
11.3.2.7.2 UK Tire Machinery Market by Tire Type
11.3.2.7.3 UK Tire Machinery Market by Application
11.3.2.8 Italy
11.3.2.8.1 Italy Tire Machinery Market by Machine Type
11.3.2.8.2 Italy Tire Machinery Market by Tire Type
11.3.2.8.3 Italy Tire Machinery Market by Application
11.3.2.9 Spain
11.3.2.9.1 Spain Tire Machinery Market by Machine Type
11.3.2.9.2 Spain Tire Machinery Market by Tire Type
11.3.2.9.3 Spain Tire Machinery Market by Application
11.3.2.10 Netherlands
11.3.2.10.1 Netherlands Tire Machinery Market by Machine Type
11.3.2.10.2 Netherlands Tire Machinery Market by Tire Type
11.3.2.10.3 Netherlands Tire Machinery Market by Test Type
11.3.2.11 Switzerland
11.3.2.11.1 Switzerland Tire Machinery Market by Machine Type
11.3.2.11.2 Switzerland Tire Machinery Market by Tire Type
11.3.2.11.3 Switzerland Tire Machinery Market by Application
11.3.2.1.12 Austria
11.3.2.12.1 Austria Tire Machinery Market by Machine Type
11.3.2.12.2 Austria Tire Machinery Market by Tire Type
11.3.2.12.3 Austria Tire Machinery Market by Application
11.3.2.13 Rest of Western Europe
11.3.2.13.1 Rest of Western Europe Tire Machinery Market by Machine Type
11.3.2.13.2 Rest of Western Europe Tire Machinery Market by Tire Type
11.3.2.13.3 Rest of Western Europe Tire Machinery Market by Application
11.4 Asia-Pacific
11.4.1 Asia-Pacific Tire Machinery Market by country
11.4.2 Asia-Pacific Tire Machinery Market by Machine Type
11.4.3 Asia-Pacific Tire Machinery Market by Tire Type
11.4.4 Asia-Pacific Tire Machinery Market by Application
11.4.5 China
11.4.5.1 China Tire Machinery Market by Machine Type
11.4.5.2 China Tire Machinery Market by Application
11.4.5.3 China Tire Machinery Market by Tire Type
11.4.6 India
11.4.6.1 India Tire Machinery Market by Machine Type
11.4.6.2 India Tire Machinery Market by Tire Type
11.4.6.3 India Tire Machinery Market by Application
11.4.7 Japan
11.4.7.1 Japan Tire Machinery Market by Machine Type
11.4.7.2 Japan Tire Machinery Market by Tire Type
11.4.7.3 Japan Tire Machinery Market by Application
11.4.8 South Korea
11.4.8.1 South Korea Tire Machinery Market by Machine Type
11.4.8.2 South Korea Tire Machinery Market by Tire Type
11.4.8.3 South Korea Tire Machinery Market by Application
11.4.9 Vietnam
11.4.9.1 Vietnam Tire Machinery Market by Machine Type
11.4.9.2 Vietnam Tire Machinery Market by Tire Type
11.4.9.3 Vietnam Tire Machinery Market by Application
11.4.10 Singapore
11.4.10.1 Singapore Tire Machinery Market by Machine Type
11.4.10.2 Singapore Tire Machinery Market by Tire Type
11.4.10.3 Singapore Tire Machinery Market by Application
11.4.11 Australia
11.4.11.1 Australia Tire Machinery Market by Machine Type
11.4.11.2 Australia Tire Machinery Market by Tire Type
11.4.11.3 Australia Tire Machinery Market by Application
11.4.12 Rest of Asia-Pacific
11.4.12.1 Rest of Asia-Pacific Tire Machinery Market by Machine Type
11.4.12.2 Rest of Asia-Pacific Tire Machinery Market by Tire Type
11.4.12.3 Rest of Asia-Pacific Tire Machinery Market by Test Type
11.5 Middle East & Africa
11.5.1 Middle East
11.5.1.1 Middle East Tire Machinery Market by country
11.5.1.2 Middle East Tire Machinery Market by Machine Type
11.5.1.3 Middle East Tire Machinery Market by Tire Type
11.5.1.4 Middle East Tire Machinery Market by Application
11.5.1.5 UAE
11.5.1.5.1 UAE Tire Machinery Market by Machine Type
11.5.1.5.2 UAE Tire Machinery Market by Tire Type
11.5.1.5.3 UAE Tire Machinery Market by Application
11.5.1.6 Egypt
11.5.1.6.1 Egypt Tire Machinery Market by Machine Type
11.5.1.6.2 Egypt Tire Machinery Market by Tire Type
11.5.1.6.3 Egypt Tire Machinery Market by Application
11.5.1.7 Saudi Arabia
11.5.1.7.1 Saudi Arabia Tire Machinery Market by Machine Type
11.5.1.7.2 Saudi Arabia Tire Machinery Market by Tire Type
11.5.1.7.3 Saudi Arabia Tire Machinery Market by Application
11.5.1.8 Qatar
11.5.1.8.1 Qatar Tire Machinery Market by Machine Type
11.5.1.8.2 Qatar Tire Machinery Market by Tire Type
11.5.1.8.3 Qatar Tire Machinery Market by Application
11.5.1.9 Rest of Middle East
11.5.1.9.1 Rest of Middle East Tire Machinery Market by Machine Type
11.5.1.9.2 Rest of Middle East Tire Machinery Market by Tire Type
11.5.1.9.3 Rest of Middle East Tire Machinery Market by Application
11.5.2 Africa
11.5.2.1 Africa Transfusion Diagnostics Market by country
11.5.2.2 Africa Tire Machinery Market by Machine Type
11.5.2.3 Africa Tire Machinery Market by Tire Type
11.5.2.4 Africa Tire Machinery Market by Application
11.5.2.5 Nigeria
11.5.2.5.1 Nigeria Tire Machinery Market by Machine Type
11.5.2.5.2 Nigeria Tire Machinery Market by Tire Type
11.5.2.5.3 Nigeria Tire Machinery Market by Application
11.5.2.6 South Africa
11.5.2.6.1 South Africa Tire Machinery Market by Machine Type
11.5.2.6.2 South Africa Tire Machinery Market by Tire Type
11.5.2.6.3 South Africa Tire Machinery Market by Application
11.5.2.7 Rest of Africa
11.5.2.7.1 Rest of Africa Tire Machinery Market by Machine Type
11.5.2.7.2 Rest of Africa Tire Machinery Market by Tire Type
11.5.2.7.3 Rest of Africa Tire Machinery Market by Test type
11.6 Latin America
11.6.1 Latin America Tire Machinery Market by country
11.6.2 Latin America Tire Machinery Market by Machine Type
11.6.3 Latin America Tire Machinery Market by Technique
11.6.4 Latin America Tire Machinery Market by Application
11.6.5 Brazil
11.6.5.1 Brazil America Tire Machinery by Machine Type
11.6.5.2 Brazil America Tire Machinery by Technique
11.6.5.3 Brazil America Tire Machinery by Application
11.6.6 Argentina
11.6.6.1 Argentina America Tire Machinery by Machine Type
11.6.6.2 Argentina America Tire Machinery by Technique
11.6.6.3 Argentina America Tire Machinery by Application
11.6.7 Colombia
11.6.7.1 Colombia America Tire Machinery by Machine Type
11.6.7.2 Colombia America Tire Machinery by Technique
11.6.7.3 Colombia America Tire Machinery by Application
11.6.8 Rest of Latin America
11.6.8.1 Rest of Latin America Tire Machinery by Machine Type
11.6.8.2 Rest of Latin America Tire Machinery by Technique
11.6.8.3 Rest of Latin America Tire Machinery by Application
12 Company profile
12.1 AS Tyre Machines
12.1.1 Company Overview
12.1.2 Financial
12.1.3 Products/ Services Offered
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 All Well Industry
12.2.1 Company Overview
12.2.2 Financials
12.2.3 Product/Services Offered
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 MERTC
12.3.1 Company Overview
12.3.2 Financials
12.3.3 Product/Services Offered
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 MESNAC
12.4.1 Company Overview
12.4.2 Financials
12.4.3 Product/Services Offered
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 Pelmar Group
12.5.1 Company Overview
12.5.2 Financials
12.5.3 Product/Services Offered
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 Plastea Group
12.6.1 Company Overview
12.6.2 Financials
12.6.3 Product/Services Offered
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 Samson Machinery
12.7.1 Company Overview
12.7.2 Financials
12.7.3 Product/Services Offered
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 TKH Group NV
12.8.1 Company Overview
12.8.2 Financials
12.8.3 Product/Services Offered
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 Marangoni Double Star Machinery
12.9.1 Company Overview
12.9.2 Financials
12.9.3 Product/Services Offered
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 Others
12.10.1 Company Overview
12.10.2 Financials
12.10.3 Product/Services Offered
12.10.4 SWOT Analysis
12.10.5 The SNS View
13. Competitive Landscape
13.1 Competitive Bench marking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. Use Case and Best Practices
15. Conclusion
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