About Tire Repairs
As we know, the car industry is rising internationally, increasing construction & mining machinery purchases, and increasing tire use worldwide is the main driving force for the demand for tire repair. It is projected that increasing luxury vehicle production and advances in connected automotive technology would boost the total demand for advanced tires globally. In addition, tire manufacturer's growing emphasis on new technology such as 3D printing, renewable raw materials, and autonomous vehicles is expected to further raise demand for advanced tires in the future. That in turn would blossom the tire repair business.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Tire Repairs market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ITW Global Tire Repair (United States), Bridgestone Americas, Inc. (United States), Mitsubishi Cars (United States), Firestone Complete Auto Care. (United States), TECH Tire Repair (United States), Goodyear Tires (United States), Lynchburg & Forest, VA (United States), Tires Plus Total Car Care (United States) and Hunter Engineering Company (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are COATS (United Kingdom), Snap-on Incorporated (United States), Accu-turn (United States), Corghi (Italy), Guangzhou Jingjia Auto Equipment Co., Ltd. (China), Teco Automotive Equipment (Italy) and Eagle Equipment (United States.
Segmentation Overview
AMA Research has segmented the market of Global Tire Repairs market by Type (Plugging, Patching and Plug/Patch Combination), Application (Motor vehicle Manufacturers, Repair Shop, 4s Shop and DIY solutions) and Region.
On the basis of geography, the market of Tire Repairs has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Repairing Tools, the sub-segment i.e. Tire Repair Kits will boost the Tire Repairs market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Vehicle Type, the sub-segment i.e. Passenger Vehicles will boost the Tire Repairs market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Tire Material, the sub-segment i.e. Elastomers will boost the Tire Repairs market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Adoption of Technologies in Tire Repair Market from Repairing Tools
Market Growth Drivers:
Rising Automotive Sector is Driving the Tire Repair Market and Increasing Demand for Autonomous and Connected Technologies in Automotive is Expected to Drive the Market for Tire Repair Market
Challenges:
High Initial Investments in Repairing Tools
Restraints:
Inconsistent Raw Material Prices of Reparining Tools may Limit the Growth of the Market.
Opportunities:
Increasing Demand for Industrial Automation and Autonomous and Semi-Autonomous Vehicles are Increasing thus Cumulating the Market of Tire Repair
Market Leaders and their expansionary development strategies
In December 2021 Bridgestone Corporation announced the acquisition of Otraco International Pty Ltd. This acquisition is part of the Bridgestone Mid-Term Business Plan's strategic growth investment to drive worldwide expansion of its solutions business (2021-2023). Bridgestone Group's service network, which is already a global leader, will be strengthened by Otraco. It will also benefit the Group's mining tyre and solutions business.
In March 2021, Bridgestone announced the launch of Firestone Direct mobile vehicle service for fleet operators and car owners. The service includes a wide range of maintenance services, repair, and battery checks, breaks & tire installations. Firestone Direct brings offers vehicle maintenance services directly to customers' homes or workplaces to offer maximum convenience with contact-free service.
Key Target Audience
On-highway Tire manufacturers, Off-highway tire manufacturers, Tire associations, Automotive associations, Tire raw material manufacturers, Global industrial vehicle and cargo handling associations, Government and regulatory authorities and Research and consulting associations
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.