Tire Mold Market

The global Tire Mold market was valued at USD 1.84 Billion in 2020 and is projected to reach USD 3.2 Billion by 2028, growing at a CAGR of 4.10%% from 2021 to 2028.

A tire mold is a precision mold that gives a tire its final shape. Depending on the use and purpose of the tire, manufacturers provide both conventional molds and new type molds of various technologies and forms, such as casting mold, direct engraving mold, ventless mold, and wave parting mold to the consumers.

The global Tire Mold market report provides a thorough analysis of each segment, region, and country. All the segments are studied considering historical and future trends across geographies. All the segments are analyzed based on trends, market size, and forecasts, and the data is provided for the years 2016–2028. Several growth factors and opportunities impacting various segments have been incorporated in the report. In addition to that, the report will cover a thorough analysis of major players operating in the market based on company overview, product portfolio, recent developments, business strategies, financial performance, and market share among others. Cumulatively, the report will cover all aspects regarding the global Tire Mold market. 

In 2020, swift spread of COVID-19 largely impacted the global business operations, disrupting the supply chain and impairing various industries. The global trading activities were declined severely owing to the nationwide lockdowns, international border seals, and strict social distancing measures. This had a drastic impact on the global economy, as the companies across the globe were forced to either fully close or partially close their operations, leading to disruption in the supply-demand ratio. Moreover, in 2021 several key markets such as U.S., India, and Brazil among others witnessed a second wave of COVID-19 that further disrupted the market. However, it is expected that reopening of trade activities, the market will witness steady growth in demand in the coming years. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.

The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

The report includes an exhaustive analysis of Tire Mold industry that includes drivers, restraints/challenges, opportunities, and segmental/regional trends among others. Apart from that, it will also cover extensive information on various marketing tools such as PEST Analysis, Porter’s Five Forces Analysis, pricing trends,  SWOT analysis, and value chain among others.

The increasing automobile sales have is anticipated to augment the growth of the tire mold market during the forecast period. This is attributable to the rapid urbanization, rising disposable income of the consumers, regulations associated to fuel efficiency, and improvement in dynamics. Furthermore, increase in global sales of automobiles has also caused a major inclination towards the adoption of personal vehicle which is in turn expected to support the growth of the tire mold market in the forecast period. 

The increasing tire replacement rate in automobiles is anticipated to augment the global tire mold market in the years to come. This is owing to the automotive ownership pattern, rapid industrialization, and population growth over the past decades. Furthermore, the growth of the tire mold market also depends upon the growth of the commercial and non-commercial automobile industry, which will result in an increasing rate of replacement of tires.

The slowdown in automotive manufacturing across the globe is a major factor that is expected to hamper the growth or the tire mold market. This is owing to the outbreak of coronavirus across the globe. However, the changing initiatives and regulations by the government have resulted in opening up of the production and manufacturing facilities of the vehicles as the impact of pandemic is reducing globally.

Product Types  Analysis: Preview

On the basis of Product Types, the market is segmented into Two-Piece Molds, Segmented Molds. Two-Piece Molds held the highest share in the global Tire Mold market and is projected to witness the same trend during the forecast period.

Application Analysis: Preview

Based on Application, the market is segmented into Passenger Car Radial Tires (PCR), Truck & Bus Radial Tires (TBR), Off-The-Road Tires (OTR), Others. Passenger Car Radial Tires (PCR) accounted for the highest market share and is expected to grow at a significant CAGR from 2021 to 2028.

Analysis: Preview

Based on , the market is segmented into . dominates the global Tire Mold market and is expected to continue the same trend from 2021 to 2028. 

Geographically, the global Tire Mold market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. The report covers a thorough segmental analysis for each region comprising of market size and estimations for each segment by region for the years 2016–2028. In addition to that the report analyses Tire Mold market at country-level hence the regional study is further bifurcated into key country-level markets from each region. Asia Pacific is anticipated to dominate the global market during upcoming years. This is accredited to the presence of key market players combined with rising demand from the end-users.  Some of the prominent country-level markets are U.S., China, Germany, France, India, and Japan.   

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of MEA

Major players in the global Tire Mold market are Tianyang, A-Z, Anhui Wide Way Mould, Shinko Mold Industrial, Wantong, Himile, MK Technology, Greatoo, King Machine, Quality, Saehwa IMC, SeYoung TMS, Qingdao Yuantong Machine, Anhui Mcgill Mould, HERBERT Maschinen, HongChang.. The global Tire Mold market report covers an exhaustive analysis of all the key players in the industry. This includes a business overview, extensive portfolio, business strategies, news, financial performance, length of distribution network,  and geographical presence among others. In addition to that, the report also covers company market share along with in-depth strategic developments.   

• The global Tire Mold market was valued at USD 1.84 Billion in 2020
• The global Tire Mold Market is projected to reach USD 3.2 Billion by 2028
• Asia Pacific held the highest share of the Tire Mold market in 2020
• Some of the major companies operating in the Tire Mold market are Tianyang, A-Z, Anhui Wide Way Mould, Shinko Mold Industrial, Wantong, Himile, MK Technology, Greatoo, King Machine, Quality, Saehwa IMC, SeYoung TMS, Qingdao Yuantong Machine, Anhui Mcgill Mould, HERBERT Maschinen, HongChang.