DUBLIN, March 27, 2023 /PRNewswire/ — The “Automotive Tire Molds: Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Automotive Tire Molds Market to Reach $2.1 Billion by 2030
The global market for Automotive Tire Molds estimated at US$1.5 Billion in the year 2022, is projected to reach a revised size of US$2.1 Billion by 2030, growing at a CAGR of 4.4% over the analysis period 2022-2030.
Segmented Molds, one of the segments analyzed in the report, is projected to record 5.8% CAGR and reach US$1.6 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Two-Piece Molds segment is readjusted to a revised 1% CAGR for the next 8-year period.
The U.S. Market is Estimated at $253.5 Million, While China is Forecast to Grow at 5.2% CAGR
The Automotive Tire Molds market in the U.S. is estimated at US$253.5 Million in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$587.6 Million by the year 2030 trailing a CAGR of 5.2% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.8% and 2.4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 1.9% CAGR.
Looking Ahead to 2023
The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet. Food and fuel inflation will remain a persistent economic problem.
Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand.
With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China’s already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year. Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.
Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
What`s New for 2023?
- Special coverage on Russia–Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies – Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Topics Covered:
MARKET OVERVIEW
- Structural Shifts in Automotive Industry Affects the Tires Market
- Surplus Automobile Production Capacity Especially in China to Leverage Tire Demand in the OEM Market
- Automotive Tire Molds – Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Vehicle Tires: A Prelude
- Types of Automotive Tires
- Belt Cord Construction for Passenger Tires for Replacement and OEM Market
- Tire Composition: Percentage Breakdown of Components by Weight for Passenger Car and Truck Tires
- An Introduction to Automotive Tire Molds
- Global Market Prospects & Outlook
- Analysis by Type
- Regional Analysis
- Competitive Scenario
- Recent Market Activity
MARKET TRENDS & DRIVERS
- Recovery in Automotive Industry Post COVID-19 to Steer Demand
- With the Industry Moving Past the Recovery Boom, Sluggish to Flat Growth in New Vehicle Sales Catalyzes the Automobile Market
- PCR Tires and TBR Tires Fuel Tire Mold Market
- 3D Printing of Pattern Blocks
- Focus on Development of Smart Tires Rises, Automation Gains Importance
- Quicker Tire Size Changes and Rising Requirement for Greater Automation Impact the Industry
- Focus on Sophisticated and Intelligent Tires Surges with the Emergence of EVs and AVs
- Tire Industry Dynamics Influence Market Prospects
- Need for Regular Replacement of Tires Augurs Well
- Increasing Average Vehicle Age Instigates Tire Replacement Demand
- Retreaded Tires Extend Another Growth Area
- Bad Road Conditions & Rise in Automotive Accidents Mandate High-Quality Tires
- Mold Advancements Support Airless Tire Manufacturing
- Fuel Economy & Vehicular Emission Regulations Spur Design Improvements
- Demographic Trends to Underpin Future Revenue Growth of Automotive Industry and Ancillary Markets
FOCUS ON SELECT PLAYERS (Total 30 Featured)
- A-Z GmbH
- Bridgestone Corporation
- Continental AG
- Dahmen Maschinen- u. Formenbau GmbH & Co. KG
- Greatoo Intelligent Equipment Inc.
- Hefei Avenue Mold co., Ltd.
- HERBERT Tire Tooling GmbH & Co.KG
- Himile Group Co., Ltd
- King Machine
- Shinko Mold Industrial Co., Ltd.
- The Yokohama Rubber Co., Ltd
For more information about this report visit https://www.researchandmarkets.com/r/77kdop
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SOURCE Research and Markets
