About Re-tread Tires
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. There are two main processes used for retreading tires, called Mold Cure and Pre Cure. Both processes start with the inspection of the tire. Some casings are repaired and some are discarded. Some applications for retreaded tires are airplanes, racing cars, buses and delivery trucks. The commercial vehicle segment is witnessing significant growth due to the expanding transportation and logistics sector, further boosting the demand for retread tires.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 3.3% |
Competition among existing players is due to the retread tyres market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for retread tyres market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Re-tread Tires 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.
Michelin (France), Bridgestone Corporation (Japan), GoodYear (United States), Continental AG (Germany), MRF Tyres (India), JK Tyres (India), Eastern Treads (India), Nokian Tyres Plc. (Finland), Marangoni S.p (Italy), TreadWright (United States), Valley Tire Company (United States) and REDBURN TIRE 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 Parrish Tyre Company (United States), Canton Bandag Tire Co. (United States) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Re-tread Tires market by and Region.
On the basis of geography, the market of Re-tread Tires 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 Vehicle Type, the sub-segment i.e. Light & Medium Commercial Vehicle will boost the Re-tread Tires market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Tire Type, the sub-segment i.e. Radial will boost the Re-tread Tires market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Process, the sub-segment i.e. Pre Cure (Cold Retread) will boost the Re-tread Tires market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The increasing adoption of vehicles and reduction in tax rates to enable car owners to use retreaded tires.
Market Growth Drivers:
The High adoption of retread tires due to affordable price and sustainability.
Challenges:
Limited availability of raw material.
Restraints:
Availability of low cost new tires. and Stringent regulation and standard related to retarding process.
Opportunities:
Technological advancement in retread tires.
Market Leaders and their expansionary development strategies
In May 2020, Bridgestone, the world’s largest tyre and Rubber Company, has announced the acquisition of German specialist tyre trade group, REIFF Reifen und Autotechnik GmbH. Under the brand labels Reiff, Netto and ABS, REIFF Reifen und Autotechnik GmbH runs a leading network of 42 retail stores in the south of Germany, as well as a tyre retreading plant, all of which are part of the acquisition deal.
In October 2023, Michelin has launched the new Michelin X One Line Energy D2 Pre-Mold retread tire line for long-haul applications. The line includes three tires: X One Line Energy D2 Pre-Mold, X One XDS Pre-Mold and X One XDS2. Michelin refers to the X One Line Energy D2 Pre-Mold retread tire as its lowest rolling resistance heavy truck drive retread to date.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations and Others
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.