The global Automotive Pre-cured Tire Market size was USD 9.8 Billion in 2022 and is expected to register a revenue CAGR of 6.5% over the forecast period, according to the latest report by Reports and Data.
Overhaul tires are made by taking worn-out tires and installing new treads on the old casing, which is then coated with Rubber to restore the tire’s original condition. This process reduces the cost of the tire while maintaining the same performance and safety criteria as brand-new tires. Furthermore, utilizing overhaul tires reduces the trash created by scrap tires, making it a more environmentally responsible option.
Rising demand from business fleet owners is another factor driving the worldwide market for overhaul car tires forward. Overhaul tires may save a lot of money, especially for big commercial fleets. Overhaul tires are commonly utilized in the transportation industry because they reduce ownership costs and increase profitability. The continuous trend of online shopping, which has led to significant expansion in e-commerce logistics and the need for more commercial trucks on the road, is also predicted to increase demand for overhaul tires.
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The cost savings associated with Mold-cured Overhaul tires, especially for large business fleets, make them an attractive option. By choosing Mold-cured Overhaul tires, fleet owners can reduce ownership costs, which in turn boosts profitability for their businesses.
In the transportation sector, Mold-cured Overhaul tires are widely adopted because they offer a cost-effective alternative to new tires. This is particularly important for commercial truck fleets that operate over long distances, where tire wear and replacement costs can be substantial. By utilizing Mold-cured Overhaul tires, these fleet operators can extend the life of their tires and make the most out of their investment.
The ongoing trend of online shopping has also played a role in the increased demand for Mold-cured Overhaul tires. The growth of e-commerce logistics has resulted in more commercial trucks on the road, delivering products to customers. This increased demand for transportation services has created a need for cost-efficient solutions, and Mold-cured Overhaul tires fit the bill perfectly.
Overall, the combination of cost savings, enhanced profitability, and the need for cost-efficient transportation solutions in the logistics sector has fueled the expansion of the global market for Mold-cured Overhaul vehicle tires. As commercial fleets continue to grow and the trend of online shopping persists, the demand for Mold-cured Overhaul tires is expected to keep rising.
By Type Outlook
· Mold-cured
· Mold-cured
· Others
By Vehicle Type Outlook
· Passenger Cars
· Commercial Vehicles
· Others
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Some Key Highlights from the Report
· The pre-cured segment accounted for the largest revenue share of these in 2021 because to increased market demand and attractiveness. The casing is then fitted with a pre-existing casing and a pre-cured tread to generate pre-cured tires. This technology offers several advantages, including shorter turnaround times, lower production costs, and better environmental sustainability owing to less tire waste. Second, because of their high durability, reliability, and extended tire life, pre-cured tires are ideal for a wide range of vehicles, including buses, trucks, and trailers. These factors are expected to drive demand for pre-cured tires and increase revenue in this market segment.
· In terms of revenue generation, the passenger automobile segment has dominated the industry in recent years. Passenger automobiles are the most common type of vehicle in the world and the preferred option of customers for personal usage. They are an excellent choice for overhaul tire use since they are used for both short and long-distance excursions. The growing customer awareness of the benefits of using overhaul tires, such as cost effectiveness, fuel efficiency, and environmental sustainability, has also fueled demand for them in the passenger car category.
· North America is expected to be a major region for the automobile overhaul tire market, with a sizeable revenue CAGR during the forecast period. Governments and manufacturers have started a variety of initiatives to reduce carbon emissions and improve fuel economy, which are boosting the region’s growth. Because of the region’s large logistics and transportation industry, overhaul tires are also in great demand, providing fleets with a more inexpensive and ecologically responsible choice.
Regional Markets Highlighted in the Global Automotive Pre-cured Tire Market Report:
· North America
o U.S.
o Canada
o Mexico
· Europe
o Germany
o U.K.
o Italy
o France
o BENELUX
o Rest of Europe
· Asia Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia Pacific
· Latin America
o Brazil
o Rest of Latin America
· Middle East & Africa
o Saudi Arabia
o U.A.E.
o South Africa
o Rest of Middle East & Africa
Top Companies Profiled in the Report:
Bridgestone Corporation, The Goodyear Tire & Rubber Company, Marangoni S.p.A., Michelin, MRF Limited, Nokian Tires plc, Pirelli & C. S.p.A., The Yokohama Rubber Co., Ltd., Continental AG, and The Hankook Tire & Technology Co., Ltd.
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