Global Automotive Tire Molds Market to Reach $1.8 Billion by 2027

DUBLIN, Nov. 15, 2022 /PRNewswire/ -- The "Automotive Tire Molds - Global Market Trajectory & Analytics" report has been added to  ResearchAndMarkets.com's offering.

Global Automotive Tire Molds Market to Reach $1.8 Billion by 2027

Amid the COVID-19 crisis, the global market for Automotive Tire Molds estimated at US$1.4 Billion in the year 2020, is projected to reach a revised size of US$1.8 Billion by 2027, growing at a CAGR of 3.7% over the period 2020-2027. Segmented Molds, one of the segments analyzed in the report, is projected to record 5.1% CAGR and reach US$1.3 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 0.7% CAGR for the next 7-year period.

The U.S. Market is Estimated at $241.7 Million, While China is Forecast to Grow at 4.6% CAGR

The Automotive Tire Molds market in the U.S. is estimated at US$241.7 Million in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$500.6 Million by the year 2027 trailing a CAGR of 4.6% over the period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.4% and 2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.5% CAGR.

Select Competitors (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

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

2. FOCUS ON SELECT PLAYERS

3. 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
• Monthly New Vehicle Sales in the US: Jan 2020 - Feb 2021
• 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
• Global Market for Airless Tires (In US$ Million) for the Years 2018 and 2024
• Fuel Economy & Vehicular Emission Regulations Spur Design Improvements
• Demographic Trends to Underpin Future Revenue Growth of Automotive Industry and Ancillary Markets

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

UNITED STATES

CANADA

JAPAN

CHINA

EUROPE

FRANCE

GERMANY

ITALY

UNITED KINGDOM

SPAIN

RUSSIA

REST OF EUROPE

ASIA-PACIFIC

AUSTRALIA

INDIA

SOUTH KOREA

REST OF ASIA-PACIFIC

LATIN AMERICA

ARGENTINA

BRAZIL

MEXICO

REST OF LATIN AMERICA

MIDDLE EAST

AFRICA

IV. COMPETITION

• Total Companies Profiled: 30

For more information about this report visit https://www.researchandmarkets.com/r/a53jp6

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SOURCE Research and Markets