Market Overview:
According to MRFR analysis, the global Automotive Retread Tires market is expected to register a CAGR of ~7.1% from 2022 to 2030 and hold a value of over USD 8 billion by 2030. Automotive retread tires are tires that have been repaired and given a new tread layer to extend their lifespan. Retread tires are a cost-effective alternative to new tires, and they are commonly used in a variety of applications, including commercial trucking, buses, and other vehicles.
The COVID-19 pandemic has had some impact on the production and sales of automotive retread tires, but the overall impact has been relatively limited. The demand for retread tires has remained relatively stable during the pandemic, as they are used in a variety of applications where cost-effectiveness is important. However, the pandemic has disrupted some supply chains and there have been some delays in the production and distribution of retread tires.
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Regional Analysis
The Asia Pacific region is predicted to have the largest market share and the highest growth rate in the coming years. This is due to the increase in sales of retread tires, as they are more cost-efficient and eco-friendly. With the rising concern for environmental issues, consumers are more likely to purchase products that will have less of a negative impact on the planet.
Market Segmentation
The Global Automotive Retread Tires market has been segmented into process type, sales channel, and vehicle type.
Based on the process type, the market has been segmented into Pre-Cure and Mold Cure.
Based on the sales channel, the market has been segmented into OEM and Aftermarket.
Based on the vehicle type, the market has been segmented into Passenger Cars, Light Commercial, and Heavy Commercial.
Key Players
Some of the key market players are Bridgestone Corporation, The Goodyear Tire & Rubber Company, Michelin, Marangoni S.p.A., Nokian Tyres plc, MRF Tyres, KRAIBURG AUSTRIA GmbH & CO. KG, JK Tyres, Pilipinas Kai Rubber Corporation, and Eastern Treads.
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