Global Tire Curing Press Market, By Type (Mechanical, Hydraulic, Hybrid, Others), Mold (Two-Piece Mold, Segmental Mold), Vehicle Type (Passenger Vehicles, Commercial Vehicles), Application (Radical, Ordinary Tire) - Industry Trends and Forecast to 2031.
Tire Curing Press Market Analysis and Size
The increasing investments in tire manufacturing and tire remolding will influence the growth of tire curing press market. Furthermore, the rising automotive aftermarket, high demand for durable tires, and the increasing use of rubber additives will also enhance the market growth rate. Furthermore, the rising tire recycling process and growing per capita disposable income will further create beneficial opportunities for the tire curing press market's growth.
Data Bridge Market Research analyzes that the global tire curing press market which was USD 1,285.83 million in 2023, is likely to reach to USD 1,870.36 million by 2031, and is expected to undergo a CAGR of 4.10% during the forecast period.
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable from 2016-2021)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Type (Mechanical, Hydraulic, Hybrid, Others), Mold (Two-Piece Mold, Segmental Mold), Vehicle Type (Passenger Vehicles, Commercial Vehicles), Application (Radical, Ordinary Tire)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of the Middle East and Africa
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Market Players Covered
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LARSEN & TOUBRO LIMITED (India), MITSUBISHI HEAVY INDUSTRIES, LTD. (Japan), Harburg-Freudenberger Maschinenbau GmbH (Germany), McNeil & NRM Inc. (U.S.), Greatoo Intelligent (China), Alfred Herbert (India) Limited (India), ContiTech AG (Germany), Guilin Rubber Machinery Co., Ltd. (China), ROGERS INDUSTRIAL PRODUCTS, INC. (U.S.), CIMA IMPIANTI Spa. (Italy), LingLong Americas, Inc. (China). Ltd., Werth Inc (Germany)
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Market Opportunities
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Market Definition
Tire curing is a procedure to give a tire its final shape and tread pattern. The process comprises applying heat energy to fuel a chemical reaction between the rubber compounds and other materials.
Global Tire Curing Press Market Dynamics
Drivers
- Increasing Automotive Production
One of the primary drivers for the global tire curing press market is the continuous growth in automotive production worldwide. As the demand for vehicles rises, especially in emerging markets, tire manufacturing follows suit, propelling the need for advanced and efficient curing press equipment.
- Technological Advancements
Ongoing technological advancements in tire curing press technology contribute significantly to market growth. Innovations such as automation, real-time monitoring, and precision control enhance the efficiency and quality of tire curing processes. Manufacturers adopting these technologies gain a competitive edge in meeting the evolving demands of the tire industry.
Restraints
- High Initial Investment
The global tire curing press market faces a challenge related to the high initial investment required for advanced curing press machinery. This poses a restraint, particularly for small and medium-sized enterprises, limiting their ability to adopt cutting-edge technologies and hindering market expansion.
- Environmental Concerns
Stringent environmental regulations and increasing awareness about sustainable practices present a challenge for the tire curing press market. Traditional curing processes often involve energy-intensive operations and may use materials with environmental implications. This has led to a push for eco-friendly alternatives, putting pressure on manufacturers to adapt and comply with sustainability standards.
Opportunities
- Rising Demand for Green Tires
The growing emphasis on environmental sustainability has led to an increased demand for green tires, which are manufactured using eco-friendly processes. This trend presents a significant opportunity for the tire curing press market to develop and promote equipment that supports the production of environmentally friendly tires, meeting the evolving preferences of consumers and regulatory requirements.
- Expansion in Emerging Markets
Emerging markets, especially in Asia-Pacific and Latin America, exhibit substantial growth potential for the tire curing press market. The increasing vehicle ownership and infrastructure development in these regions create opportunities for tire manufacturing growth, leading to a higher demand for curing press equipment.
Challenges
- Intense Market Competition
The global tire curing press market faces challenges related to intense competition among key players. The presence of numerous established manufacturers and the constant pursuit of technological advancements intensify competition, making it essential for companies to differentiate their products and services to maintain market share.
- Supply Chain Disruptions
The tire curing press market is susceptible to supply chain disruptions, including fluctuations in raw material prices and disruptions in logistics. Events such as natural disasters and geopolitical tensions can impact the availability and cost of essential components, posing challenges for manufacturers to maintain a stable production process. Establishing resilient supply chains becomes crucial in mitigating these challenges.
Recent Development
- In June 2023, Greatoo Intelligent Announces New Tire Curing Press Technology. The new technology is said to be more energy-efficient and environmentally friendly than traditional tire curing presses
- In May 2023, Guilin Rubber Machinery Co., Ltd. introduced a new line of rubber machinery. Numerous machines for vulcanizing, calendering, mixing, and extruding rubber are part of the new range
- In July 2021, JK Tyre and Ki Mobility Solutions Private Ltd. (KMS) signed a contract to provide 24-hour support for the customer service portfolio
- In April 2019, HF Tire Tech Group has introduced a revolutionary curing press, HF Curemaster TBR, for the manufacturing of truck tires. The new truck tire curing press ‘HF Curemaster TBR’ offers a flexible and compact footprint, enabling it to replace older smaller presses and ultimately saves space or allows for the possibility to fit more presses per existing trench
Global Tire Curing Press Market Scope
The tire curing press market is segmented on the basis of type, mold, vehicle type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Mechanical
- Hydraulic
- Hybrid
- Others
Mold
- Two-Piece Mold
- Segmental Mold
Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
Application
- Radical
- Ordinary Tire
Global Tire Curing Press Market Region Analysis/Insights
The tire curing press market is analyzed and market size, volume information is provided by country, type, mold, vehicle type and application as referenced above.
The countries covered in the market report are U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Netherlands, Russia, Switzerland, Turkey, rest of Europe, Japan, China, Australia, India, South Korea, Singapore, Indonesia, Thailand, Malaysia, Philippines, rest of Asia-Pacific, Brazil, Argentina, rest of South America, Saudi Arabia, South Africa, U.A.E., Israel, Egypt, and rest of Middle East and Africa.
Asia-Pacific is expected to dominate the market due to the robust growth of the automotive industry in countries like China and India. The increasing demand for vehicles, coupled with the expanding automotive manufacturing sector, has fueled the need for advanced tire manufacturing technologies, including tire curing presses.
Middle East and Africa is expected to show the fastest-growth due to increasing industrialization, infrastructural development, and a rising automotive market. As these economies continue to advance, the demand for high-quality tires is on the rise, propelling the market for tire curing presses. The need for efficient and advanced manufacturing processes further accelerates the adoption of tire curing press technology in the Middle East and Africa.
The country section of the tire curing press market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global tire Curing Press Market Share Analysis
The global tire curing press market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the global tire curing press market.
Some of the major players operating in the global tire curing press market are:
- LARSEN & TOUBRO LIMITED (India)
- MITSUBISHI HEAVY INDUSTRIES, LTD. (Japan)
- Harburg-Freudenberger Maschinenbau GmbH (Germany)
- McNeil & NRM Inc. (U.S.)
- Greatoo Intelligent (China)
- Alfred Herbert (India) Limited (India)
- ContiTech AG (Germany)
- Guilin Rubber Machinery Co., Ltd. (China)
- ROGERS INDUSTRIAL PRODUCTS, INC. (U.S.)
- CIMA IMPIANTI Spa. (Italy)
- LingLong Americas, Inc. Ltd. (China)
- Werth Inc (Germany)
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