What Has Been The Evolution of the Tire Curing Press Market in Recent Years?
The tire curing press market has seen considerable growth due to a variety of factors.
• The tire curing press market has shown strong growth in recent years, anticipated to grow from $1.22 billion in 2024 to $1.29 billion in 2025, at a CAGR of 5.6%.
This growth is driven by demand from non-tire applications, the expansion of the automotive industry, increased tire manufacturing, environmental regulations, and sustainability trends.
What Are the Future Growth Projections for the Tire Curing Press Market?
The tire curing press market is expected to maintain its strong growth trajectory in upcoming years.
• The tire curing press market is expected to reach $1.59 billion by 2029 at a CAGR of 5.2%.
Growth factors include the rising demand for durable tires, increasing adoption of tire recycling, green tire technologies, and investments in tire manufacturing. Trends include innovations in tire curing press designs, robotic systems integration, and advancements in tire production technologies.
What Are The Core Factors Supporting Growth In The Tire Curing Press Market?
The escalating manufacturing rates of automobiles is predicted to bolster the expansion of the tire-curing press market. The growth in automobile production involves the amalgamation of a range of components using techniques like welding and painting, resulting in the creation of vehicles primed for transport and prepared for market release. The amplified production rates of automobiles stem from advanced technology, burgeoning consumer demand for vehicles, worldwide expansion of automotive markets, investment in infrastructure and government policies bolstering the automotive sector. Tire curing presses are integral to ensuring top-notch, reliable and lasting tires, enhancing the efficacy and uniformity in the manufacturing process, and providing adaptability and cost-efficiency for automobile production. To illustrate, data from the Organisation Internationale des Constructeurs d' Automobiles (OICA), a French international association of automobile manufacturers, indicates that in 2023, the worldwide automotive industry saw significant growth in 2022, with total vehicle production peaking at 84.83 million units. This figure indicates a considerable rise compared to the 80 million units produced the previous year, 2021. This 6% year-on-year increase highlights the automotive industry's resilience and its capacity to recover amidst economic hurdles. Consequently, the ramped-up production rates of automobiles function as a key driving force behind the expansion of the tire curing press market.
What Are The Major Segments Within The Global Tire Curing Press Market?
The tire curing press market covered in this report is segmented –
1) By Type: Mechanical Curing Press, Hydraulic Curing Press, Hybrid Curing Press
2) By Mold: Two-piece Mold, Segmental Mold
3) By End Use: Passenger Car Tire, Commercial Vehicle Tire
Subsegments:
1) By Mechanical Curing Press: Single Press Machines, Double Press Machines, Multi-Press Machines, Vertical Mechanical Curing Press, Horizontal Mechanical Curing Press
2) By Hydraulic Curing Press: Single Station Hydraulic Curing Press, Multi-Station Hydraulic Curing Press, Vertical Hydraulic Curing Press, Horizontal Hydraulic Curing Press, Electric Or Hydraulic Hybrid Presses
3) By Hybrid Curing Press, Electric-Hydraulic Hybrid Curing Press, Mechanical-Hydraulic Hybrid Curing Press
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How Are Emerging Trends Reshaping The Dynamics Of The Tire Curing Press Market?
Prominent players in the tire curing press market are focusing on the creation of groundbreaking technologies, such as energy-efficient tire retreading, aimed at slashing energy usage compared to classic curing presses. This is accomplished by reducing energy consumption during the retreading process using optimized equipment, procedures, and materials to minimize costs and environmental effects. As an example, Cima Impianti S.p.A., an Italian firm known for manufacturing automatic curing presses, launched the Ecoline press series in March 2024. This range provides precision control, versatility, endurance, and comes with cutting-edge safety features meant to enhance the manufacturing process, increase efficiency, and reduce operation costs within tire retreading tasks. What's more, the ECOLINE press provides flexibility in matching products from various brands, thereby enabling retreaders to further utilize existing molds initially created for other brands thanks to its adaptable cavity.
Who Are the Key Players In The Tire Curing Press Market?
Major companies operating in the tire curing press market are:
• Mitsubishi Heavy Industries Machinery Systems Ltd.
• Larsen and Toubro Limited
• SICK AG
• Himile Mechanical Science and Technology Co. Ltd.
• ContiTech AG
• Tianjin Saixiang Technology Co. Ltd.
• McNeil and NRM Inc.
• Uzer Makina Ve Kalip A.S.
• Harburg-Freudenberger Maschinenbau GmbH
• Doublestar Corporation
• Cima Impianti Spa
• Rogers Industrial Products Inc.
• HERBERT Maschinenbau GmbH and Co. KG
• Greatoo Intelligent Equipment Inc.
• Specific Engineering Corporation Private Limited
• All Well Industry Co. Ltd.
• Alfred Herbert Ltd.
• LingLong Americas Inc.
• Jing Day Machinery Industrial Co Ltd.
• Gold Hawk Machinery Co. Ltd.
• Qingdao Yahua Machinery Co. Ltd.
What Is The Most Dominant Region In The Tire Curing Press Market?
Asia-Pacific was the largest region in the tire curing press market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the tire curing press market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
