The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

A Strong Market Growth Trajectory

• 2023 to 2024: The tire curing press market has demonstrated robust growth in recent years, expanding from $1.16 billion in 2023 to $1.22 billion in 2024, with a CAGR of 5.1%.
• Key Growth Drivers: This growth is driven by the rising demand for non-tire applications, the expanding automotive industry, the growth of tire manufacturing, adherence to environmental regulations, and overall economic growth.

Forecasted Growth: 2024 to 2028

• Continued Expansion: The market is expected to further grow to $1.51 billion by 2028 at a CAGR of 5.4%.
• Future Growth Factors: Increased need for durable tires, tire recycling processes, green tire technology adoption, investments in tire manufacturing, and the use of rubber additives are expected to fuel this growth.
• Emerging Trends:
  • Technological advancements in tire curing press designs
  • Innovations in tire production processes
  • Development of new tire curing technologies
  • Integration of robotic systems for enhanced efficiency

View More On The Tire Curing Press Market Report 2024 –
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Impact of Increasing Automobile Production

• Automobile Production Surge: The rise in automobile production directly impacts the tire curing press market, with global production reaching 85.4 million vehicles in 2022, a 5.7% increase from 2021.
• Significance in Tire Manufacturing:
  • Tire curing presses are essential for producing high-quality, safe, and durable tires.
  • They enhance manufacturing efficiency, consistency, and cost-effectiveness.
  • As automobile production continues to rise, so does the demand for advanced tire curing solutions.

Leading Companies in the Market

• Key Players:
  • Mitsubishi Heavy Industries Machinery Systems Ltd.
  • Larsen and Toubro Limited
  • SICK AG
  • Himile Mechanical Science and Technology Co. Ltd.
  • ContiTech AG
• Market Focus: These companies are increasingly focusing on innovative technologies, energy efficiency, and sustainability to maintain a competitive edge in the market.

Innovations in Tire Curing Press Technology

• Energy Efficiency: New technologies are being developed to enhance energy efficiency in tire retreading, significantly reducing operational costs and environmental impact.
• Case Study:
  • Cima Impianti S.p.A.: In March 2024, they introduced the ECOLINE press range, which offers precise control, versatility, and advanced safety features, allowing for flexibility in using molds from different brands, thus enhancing productivity.

Strategic Acquisitions Shaping the Market

• Goodyear’s Acquisition of Cooper Tire and Rubber Company:
  • In June 2021, Goodyear acquired Cooper Tire and Rubber Company for $2.5 billion.
  • Strategic Goals: This acquisition strengthens Goodyear’s position in the global tire market by leveraging Cooper’s advanced tire curing press technologies.

Market Segmentation and Regional Insights

• Market Segments:
  • By Type: Mechanical, Hydraulic, Hybrid Curing Presses
  • By Mold: Two-piece Mold, Segmental Mold
  • By End Use: Passenger Car Tire, Commercial Vehicle Tire
• Regional Growth:
  • Asia-Pacific: The largest region in the market as of 2023.
  • Europe: Expected to be the fastest-growing region in the forecast period.

Conclusion: A Promising Future for the Tire Curing Press Market
The tire curing press market is on a strong growth trajectory, driven by increasing demand in the automotive industry, technological innovations, and strategic investments. As the market continues to evolve, companies focusing on energy efficiency, sustainability, and advanced technology will lead the way in shaping the future of tire manufacturing.

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The Tire Curing Press Global Market Report 2024  provides an in-depth analysis on the tire curing press market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the tire curing press market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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