Global Tire Cutting Machine Market, By Cutting Capacity (Less Than 50 Tires Per Hour, More Than 50 Tires Per Hour), Motor Power (Less Than 3 Hp, 3 Hp - 5 Hp, More Than 5 Hp), End-Use (MRO Centres, Tire Recycling Companies) - Industry Trends and Forecast to 2031.
Tire Cutting Machine Market Analysis and Size
The increasing volume of used tires, resulting from the rising number of vehicles, fuels the demand for these machines. They efficiently process tires for recycling and disposal, addressing the challenge of tire waste management, which is further fueled by stringent environmental regulations mandating proper tire disposal. Growing awareness about the benefits of tire recycling among industries and governments drives the need for machines that facilitate tire processing for reuse in multiple applications.
Data Bridge Market Research analyses that the global tire-cutting machine market was valued at USD 1,283.23 million in 2023 and is expected to reach USD 1797.45 million by 2031, registering a CAGR of 4.3% during the forecast period of 2024-2031. MRO Centres segments account for the highest market share due to the increasing usage of equipment among consumer. 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 to 2014-2021)
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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 Cutting Capacity (Less than 50 Tires Per Hour, More Than 50 Tires Per Hour), Motor Power (Less Than 3 Hp, 3 Hp - 5 Hp, More Than 5 Hp), End-use (MRO Centres, Tire Recycling Companies)
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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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Cosmos Tech (India), KGN(India), Singla Enterprises(India)
Star Steel Products(U.S.), Kiran Engineers(India), Deluxe Pre-cured Machinery Private Limited (India), Sivan Industrial engineering((India), Bright Tyre Moulds & Engineering Works(India), Indo Green Enviro Private Limited(India), KMT Industries(India)
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Market Opportunities
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Market Definition
Tire cutting machine is a specialized piece of equipment designed to cut and shred tires into smaller pieces or sections for various purposes such as recycling, disposal, or repurposing. These machines can handle the tough and durable materials of tires, which include rubber compounds, steel belts, and other reinforcement materials.
Global Tire Cutting Machine Market Dynamics
Driver
- Increasing adoption of remote diagnostics and predictive maintenance
The adoption of circular economy principles is a key highlight in the tire cutting machine market. As industries and governments worldwide focus on circular economy practices, tire cutting machines are crucial in sustainable tire disposal and recycling efforts. In the electric two wheelers MRO market, the increasing adoption of remote diagnostics aligns with efficient MRO operations, and the expanding electric two-wheeler market offers significant opportunities for MRO service providers.
Opportunity
- Increasing Penetration of Electric Vehicles
Traditional tires on electric vehicles (EV) wear out about 30% faster than conventional tires. As a result, aramid fibres are being used by manufacturers to create extremely lightweight and wear-resistant tires for the electric vehicle industry. The nylon tire cord fabric is dominating the U.S. market. Widespread product utilisation in the production of lightweight, wear-resistant tires for passenger cars, SUVs, trucks, and aircraft is expected to be the primary factor driving growth in the coming years.
Restraints/ Challenges
- Multiple Issues Associated with Stump Cutter & Higher Cost of the Machine
Fluctuating raw material prices, as well as increased competition among players, are expected to stymie the growth of the tire cord market during the forecast period. Over the forecast period, the preference for re-treading in the commercial vehicle segment is expected to have a negative impact on market growth.
This tire cutting machine market, report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the tire cutting machine market, contact data bridge market research for an analyst brief, our team will help you take an informed market decision to achieve market growth.
Global Tire Cutting Machine Market Scope
The tire cutting machine market is segmented on the basis of cutting capacity, end use & motor power. 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.
Cutting Capacity
- Less than 50 Tires Per Hour
- More than 50 Tires Per Hour
Motor Power
- Less than 3 HP
- 3 HP to 5 HP
- More than 5 HP
End Use
- MRO Centres
- Tire Recycling Companies
Global Tire Cutting Machine MarketRegion Analysis/Insights
The tire cutting machine market is analyzed and market size insights and trends are provided by on the basis of cutting capacity, end use & motor power 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 and be the fastest growing region in the market due to Increased demand for automobiles in China, Japan, and South Korea is expected to boost demand for tire cords in Asia Pacific during the forecast period. Increased demand for electric vehicles and SUVs in the automotive industry in Asia Pacific’s developing economies such as China, India, and Indonesia is expected to provide lucrative opportunities for tire and tire cord manufacturers in the region.
The country section of the tile cutter 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.
Semiconductor Infrastructure growth Installed base and New Technology Penetration
The tire cutting machine market also provides you with a detailed market analysis for every region’s growth in healthcare expenditure for capital equipment, installed base of different kinds of products for the tire cutting machine market, the impact of technology using lifeline curves, and changes in battery regulatory scenarios and their impact on the tire cutting machine market. The data is available for the historic period 2010-2020.
Competitive Landscape and Global Tire Cutting Machine Market Share Analysis
The tire cutting machine market is analyzed, and market size information is provided by country, product type & application. 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 tire cutting machine market.
Some of the major players operating in the tire cutting machine market are:
- Cosmos Tech (India)
- KGN (India)
- Singla Enterprises (India)
- Star Steel Products (U.S.)
- Kiran Engineers (India)
- Deluxe Pre-cured Machinery Private Limited (India)
- Sivan Industrial engineering (India)
- Bright Tyre Moulds & Engineering Works (India)
- Indo Green Enviro Private Limited (India)
- KMT Industries (India)
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