Global Automotive Retreaded Tires Market 2018-2022 | Development of Advanced Tire Retreading Process and Technologies to Promote Growth | Technavio
LONDON--(BUSINESS WIRE)--Aug 27, 2018--The global automotive retreaded tires market is expected to generate a revenue of USD 7.71 billion by 2022, according to the latest market research report by . However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180827005404/en/
Technavio has published a new market research report on the global automotive retreaded tires market from 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the cost advantages of retreaded tires. The global automotive retreaded tires market is growing owing to numerous advantages associated with the use of such tires. These advantages are both functional and cost-related, and therefore they find high adoption in commercial vehicles, especially HCVs.
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.
In this report, Technavio highlights the development of advanced tire retreading process and technologies as one of the key emerging trends in the global automotive retreaded tires market:
Global automotive retreaded tires market: Development of advanced tire retreading process and technologies
Retreaded tires are increasingly finding penetration in the commercial vehicle market, and the improved retread designs are helping to drive the growth momentum of the market. The combination of advanced retreading technologies, processes, and government regulations are driving major challenges in the global automotive retreaded tires market.
“The conventional tire retreading technology involves buffing the worn-out tire to remove the old tread, and then applying solvent-based cement on the tire surface to fix new retread. This solvent-based cement involves volatile organic compounds that present various environmental and health hazards,” says a senior market research analyst at Technavio.
Global automotive retreaded tires market: Segmentation analysis
This market research report segments the global automotive retreaded tires market by geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2017 with a market share of nearly 45%. This region is expected to dominate the market through 2022, however, there will be a decrease in its market share of nearly 5%.
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 LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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.
If you are interested in more information, please contact our media team at .
View source version on businesswire.com:https://www.businesswire.com/news/home/20180827005404/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS ENGINEERING AUTOMOTIVE AFTERMARKET TIRES & RUBBER GENERAL AUTOMOTIVE
SOURCE: Technavio Research
Copyright Business Wire 2018.
PUB: 08/27/2018 11:23 AM/DISC: 08/27/2018 11:23 AM