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Global Automotive Tire Retreading Services Market 2019-2023 | Retreaders Enhancing Service Offerings to Satisfy Customer Demands | Technavio

January 7, 2019

LONDON--(BUSINESS WIRE)--Jan 7, 2019--The global automotive tire retreading services market is expected to post a CAGR of close to 1%, according to the latest market research report by . However, the market is expected to decelerate on a year-on-year basis during the period 2019-2023.

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Technavio predicts the global automotive tire retreading services market to post a CAGR of close to 1% by 2023. (Graphic: Business Wire)

A key factor driving the growth of the market is the environmental benefits associated with the adoption of retreaded tires. Demand for automotive tire retreading services is growing amid improving road networks, infrastructure, trade activities, logistics services, and shipping and mining activities. Most fleets use retreaded tires as they are cost-effective over new tires and environmentally beneficial. With retreaded tires being challenged by low-cost Chinese tires, environmental benefits of the former remain a crucial driver for their adoption aided by encouragement from regulators. Retreaded tires help control environmental pollution significantly by increasing the actual productive life of tires. Moreover, the manufacturing process of retreaded tires takes less time and can lead to better tire management in terms of economy and efficiency. Hence, environmental benefits of retreaded tires are crucial boosters for the automotive tire retreading services market.

This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.

This report is available at a USD 1,000 discount for a limited time only:

In this report, Technavio highlights the retreaders enhancing service offerings to satisfy customer demands as one of the key emerging trends in the global automotive tire retreading services market:

Global automotive tire retreading services market: Retreaders enhancing service offerings to satisfy customer

Strong competition in the tire retreading services market is pushing retreaders to streamline operational processes and enhance customer satisfaction through effective servicing. Currently, prominent tire retreading service providers are investing in new equipment and relocating service centers to tap customers effectively. They are also making efforts to reduce costs to remain competitive and be able to provide value to customers. Fleet management solutions have become crucial offerings for retreaders as they need to traverse beyond traditional solution offerings to provide value to customers. They are introducing a range of fleet management solutions and diversifying into products such as tires and wheel service equipment and accessories. Such enhancements in service offerings by retreaders are expected to help them remain competitive and build a sustainable business.

“Retreaded tires are vital for most commercial vehicle fleet operators and service providers as such tires form the backbone of their business. Retreaded tires are finding increasing penetration in commercial vehicles. The combination of advanced retreading technologies, processes. and government regulations are aiding in effecting major changes in the global automotive tire retreading services market,” says a senior analyst at Technavio for research on automobiles & components.

Global automotive tire retreading services market: Segmentation analysis

This market research report segments the global automotive tire retreading services market by technology (pre-cure and mold cure) and geographical regions (APAC, EMEA, and the Americas).

The Americas led the market in 2018 with a market share of more than 44%, followed by APAC and EMEA respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth, followed by the EMEA region.

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Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

Market ecosystem Market characteristics Market segmentation analysis

Market Sizing

Market definition Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered Vendor classification Market positioning of vendors Competitive scenario

About Technavio

is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20190107005650/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD: EUROPE ASIA PACIFIC NORTH AMERICA SOUTH AMERICA AFRICA MIDDLE EAST

INDUSTRY KEYWORD: AUTOMOTIVE PROFESSIONAL SERVICES TIRES & RUBBER OTHER PROFESSIONAL SERVICES

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 01/07/2019 09:20 AM/DISC: 01/07/2019 09:21 AM

http://www.businesswire.com/news/home/20190107005650/en

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