The worldwide tire curing press market is prompted to record 4.3% CAGR during the forecast period, 2019-2025. The progress in the market can be pragmatic with the rising factors from all corners of the globe. Market Research Future estimates the figures and reveals that the market will witness high growth prospects in the coming years.
Top Market Drivers
The rising demand for green tires owing to emission control is likely to be the significant motivator of the tire curing press machine market during the estimated period. Also, the application of green tires in vehicles offers exceptional fuel efficiency and low rolling resistance, which also helps in reducing emission from the vehicle. These factors are planned to positively influence the production of green tires and tire curing press over the assessment period.
The study also follow-ups that the tire curing press does not necessitate regular maintenance, which further helps in reducing the entire cost of maintenance and operational. This, in turn, is probable to add majorly to the tire curing press market growth over the assessment period. In fact, the mounting investments in tire manufacturing and tire remolding globally, increasing automotive aftermarket, expanding demand for durable tires, and the increasing use of rubber additives are the key factors liable for the growth of this market.
The surged bladder pressure inside the mold has made the green tire flow owing to the closing of it and sidewall inscription engraved into the mold. The temperature used in the procedure is approximately 350 degrees Fahrenheit and the pressure around 350 PSI. After all, the mold opens, the tire is exposed and is placed on a post-cure inflator holding the tire fully inflated in the cooling process.
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On the contrary, the factor of lack of skilled labor and the elevated primary investments essential for setting up a plant is essential factors noted to hinder the global tire curing press market growth. Also, the growing tire recycling process, rising per capita disposable income, mounting demand for eco-friendly tires, and developing economies of countries are creating growth opportunities for the market.
Segmentation of Market: Tire Curing Press
The global tire curing press market is segmented among the segments of type and application.
In terms of type segment, the global market has included hydraulic, mechanical, hybrid, and others.
In terms of the application segment, the global market has included a radical tire and an ordinary tire.
Region-wise, the global tire curing press industry is further studied for the major regions, namely, Europe, North America, Asia-Pacific, and the rest of the world.
The region of Asia-Pacific is estimated to acquire the largest market share throughout the forecast period in support of the growing automotive and tire recycling industry. Moreover, the rapidly rising population in countries such as China and India, the advancing economic conditions in Thailand, India, and Vietnam, the rising investments in the automotive aftermarket are also expected to boost further the demand for tire curing press in the region.
The region of North America is also anticipated to observe significant growth during the assessment period owing to the rising aviation and commercial vehicle sector in the region. In fact, the developing economies of countries in South America and Africa are anticipated to hasten the market expansion in the rest of the world over the assessment period.
Top Market Contenders
The top market players functioning in the global tire curing press market are listed as Mitsubishi Heavy Industries, Ltd (Japan), Larsen Toubro Limited (India), McNeil and NRM Inc. (US), Harburg-Freudenberger Maschinenbau GmbH (Germany), Alfred Herbert (India) Ltd. (India), Greatoo Intelligent (China), Guilin Rubber Machinery Co., Ltd (China), ContiTech AG (Germany), and CIMA IMPIANTI S.p.a. (Italy).
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