Automotive Retread Tires Market Trends, Disruptions & Strategic Imperatives

Automotive Retread Tires Market Strategic Analysis & Growth Opportunities

The automotive retread tires market is anticipated to grow from USD 8.45 billion in 2025 to USD 11.76 billion by 2034, with a compound annual growth rate (CAGR) of 3.74% during the forecast period from 2025 to 2034.

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Introduction

The automotive retread tires market is a crucial branch of the automotive industry. This industry deals in manufacturing and distribution of remolded tires across the world. There are several processes used in this sector consisting of pre-cure and mold-cure. The molded tires are available in a well-defined sales channel comprising of OEM and aftermarket. It is designed for different vehicles consisting of passenger cars, heavy commercial vehicles, light commercial vehicles and some others. The rising demand for commercial vehicles across the globe has contributed to the industrial growth. This market is expected to rise significantly with the growth of the tires industry in different parts of the world.

• According to the Society of Indian Automobile Manufacturers, around 716566 commercial vehicles were sold in 2021-22 that increased to 967878 in 2023-24.

Highlights of the Automotive Retread Tires Market

• Asia Pacific held the dominant share of the automotive retread tires market due to the growing sales of passenger vehicles in this region.
• North America is expected to grow with a significant CAGR due to rising adoption of EVs in this region.
• The pre-cure mold segment dominated the market due to its cost-effectiveness and easier barrier entry.
• The light commercial vehicle segment led the market due to the increasing sales of pickup trucks and mini-vans.

Automotive Retread Tires: Figures and Stats

• According to the US Tires Organization, tire retreading helps in saving around US$ 3 billion every year among the car owners in the U.S.
• According to the European Tyre and Rubber Manufacturers Association, around 56244 replacement tires were sold in Europe during the 1st quarter of 2024.
• According to the JATMA Organization, around 129.84 million tires were manufactured in Japan during 2023.
• According to the India Brand Equity Foundation, the tire demand in India is projected to rise by 6-8% during 2024.

Industry Leader Announcement

In May 2024, Pierluigi Cumo, the vice-president of Michelin announced that,” The innovative Michelin X Works D pre-mold retread delivers outstanding traction, durability and wear resistance for on and off-road fleets, reflecting our dedication to sustainability now and into the future.”

Competitive Landscape

The automotive retread tires market is a highly fragmented industry with the presence of various dominant players. Some of the prominent companies ruling this industry comprises of Michelin, The Goodyear Tire & Rubber Company, Bridgestone, Marangoni S.p.A, Nokian Tyre, and some others. These market players are constantly engaged in retreading automotive tires and adopting several strategies to sustain their dominant position in this industry.

• According to the annual report of Michelin, Michelin held around 14.40% share of the tire industry in 2023 followed by Bridgestone (13.30%) and Goodyear (9%).

Market Segmentations

By Process Type

• Pre-cure
• Mold-cure

By Sales Channel

• OEM
• Aftermarket

By Vehicle Type

• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa