Retread Tire Market: Exploring Opportunities through Market Share and Growth Projections

According to a report by TechSci Research, the global retread tire market is projected to reach a value of USD 12.43 billion by 2026. Retreaded tires offer a significant cost benefit, leading fleet operators to save a substantial amount of money by choosing them. Compared to new tires, retreaded tires are available at approximately half the price, providing buyers with significant cost savings. Additionally, the production of retreaded tires requires only around 7 gallons of oil, while new tires require approximately 22 gallons. With increasing environmental concerns, consumers are increasingly favoring retreaded tires when replacing or retrofitting, contributing to the expected robust growth of the market in the forecast period.

The global retread tire market can be segmented based on vehicle type, retread process, company, and region. The market is divided into commercial vehicles, off-the-road vehicles, and passenger cars based on vehicle type, with the commercial vehicles segment dominating the market as of 2020. Commercial vehicle tires, particularly those used in medium and heavy commercial vehicles (M&HCV), have a shorter lifespan due to higher traction and greater load carriage. This necessitates more frequent tire replacements compared to passenger cars and off-the-road vehicles, resulting in higher operating costs. Consequently, commercial fleet owners prefer retread tires as a cost-effective alternative to new tires. In terms of retread process, the market is categorized into cold process and hot process, with the cold process being the dominant method. The cold process requires less investment as it eliminates the need for expensive molds, requires smaller production units, and involves lower follow-up costs.

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The market is geographically segmented into Asia Pacific, South America, North America, Europe, and the Middle East & Africa. Asia Pacific performs the majority of tire retreading due to the presence of numerous commercial and off-the-road vehicle fleets, along with rapid growth in construction and infrastructural activities. The demand for commercial and off-the-road vehicles is continuously increasing. Furthermore, the cost-effectiveness of retread tires drives significant market growth, as fleet owners prefer them over new tires. This trend is expected to continue in the forecast period.

Leading players in the global retread tire market include Vipal Borrachas S.A., Marangoni S.p.A., Bridgestone Americas Tire Operations, LLC. (Bandag), Michelin, Goodyear Tire & Rubber Company, Midas Mileage, MRF, Indag Rubber, and others. In addition to these well-known companies, many unorganized players are expanding their presence in the market by offering low-cost products with easy availability.

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“With the ease of availability of raw material, better economic affordability for manufacturing tires along with growing vehicle fleet, backed by an increase of commercial vehicle fleet size and growth of tire retreading traders, the demand for retread tires is expected to grow at a robust pace in the global retread tire market. Also, increasing demand for commercial vehicles, as well as construction and mining equipment across the globe, is pushing the demand for respective tires globally. Moreover, due to the growing prices of new tires, commercial vehicle fleet owners and mining and construction contractors are increasingly opting for retread tires and hence the market is further expected to back the growth of the global retread tire market in the future years”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Retread Tire Market By Vehicle Type (Commercial Vehicle, Passenger Car & OTR Vehicle), By Retread Process (Cold Process & Hot Process), By Region, Competition, Forecast & Opportunities, 2026” has evaluated the future growth potential of global retread tire market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global retread tire market.

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About TechSci Research:

TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and an increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.

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