Global Tire Building Machinery Market 2019-2023| Rising Adoption of IoT to Boost Growth | Technavio

December 5, 2018

LONDON--(BUSINESS WIRE)--Dec 5, 2018--The global tire building machinery market research report by predicts the market to post a CAGR of close to 3% during the period 2019-2023.

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Technavio has released a new market research report on the global tire building machinery market for the period 2019-2023 (Graphic: Business Wire)

A key driver for the global tire building machinery market is the increasing use of microcontrollers in automobiles. Various ECU functions such as controlling seats, power windows, braking systems, safety systems, steering, taillights, and headlights are controlled using microcontrollers in automobiles. These functions help in the efficient functioning of automobiles. To reduce fuel consumption, the automobiles use multiple microcontrollers for managing functions such as ECU diagnostics and powertrain functions.

This research report also provides an analysis of the most important trends expected to impact the market outlook during the period 2019-2023. 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 growing adoption of IoT in tire manufacturing as one of the key trends in the global tire building machinery market:

Global tire building machinery market: Growing adoption of IoT in tire manufacturing

The major drivers for the tire building industry are the emergence of innovative technologies, ultra-modern production facilities, and the rise in the global demand for tires. The emergence of the IoT is expected to revolutionize the growth of the tire building industry. Most leading tire manufacturing companies are increasingly adopting IoT for measuring, analyzing, and controlling the usage of consumables and indirect materials as tire building machinery is a significant part of the investment.

“In tire manufacturing plants, IoT helps in connecting heterogeneous sets of assets across the value chain and helps in getting real-time data on a common platform. It also finds opportunities for the management to transform their business operations. Furthermore, the data can be utilized to build models to predict machine and process failures and can also help in performing a detailed data-oriented root cause analysis of quality problems,” says a senior research analyst at Technavio.

Global tire building machinery market: Segmentation analysis

This tire building machinery market analysis report segments the market by application (passenger vehicle and commercial vehicle) and geography (the Americas, APAC, and EMEA).

The passenger vehicle segment held the largest tire building machinery market share in 2018, accounting for more than 66% of the market. This application segment is expected to dominate the global market throughout the forecast period.

The APAC region led the market in 2018 with nearly 50% of the market share, followed by EMEA and the Americas respectively. The APAC region is expected to dominate the market throughout the period 2019-2023.

Looking for more information on this market?

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

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SOURCE: Technavio Research

Copyright Business Wire 2018.

PUB: 12/05/2018 10:10 AM/DISC: 12/05/2018 10:10 AM


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