United States anticipates a 2.1% CAGR in tire cutting machines (2024-2034). The market thrives on tire processing solutions, driven by infrastructure growth and eco-friendly disposal needs.
NEWARK, Del, Dec. 20, 2023 (GLOBE NEWSWIRE) — The tire cutting machine market is expected to attain a valuation of US$ 1,316.7 million by 2024. The market is set to demonstrate a CAGR of 2.5% from 2024 to 2034. Anticipating a total valuation of approximately US$ 1,735.5 million by 2034, the market indicates growth and encouraging opportunities within its evolving landscape.
The tire cutting machine market is currently undergoing a transformative phase, marked by technological advancements and a heightened focus on sustainability. This dynamic landscape is characterized by integrating smart controls, automation, and Industry 4.0 principles, aiming to enhance precision and operational efficiency in tire cutting processes.
The industry is witnessing a paradigm shift towards automated systems, with cutting-edge technologies like artificial intelligence and robotics becoming integral components of modern tire cutting machines. Sustainability remains a key driver in this market, with tire cutting machines playing a crucial role in efficient tire recycling. Industries and governments worldwide are increasingly adopting circular economy principles, and tire cutting machines are at the forefront of sustainable tire disposal and recycling efforts.
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The market is witnessing a surge in demand for machines that comply with stringent regulations regarding tire disposal and recycling, reflecting a growing commitment to environmental responsibility among businesses. The tire cutting machine market is responsive to regulatory requirements and driven by the ever-evolving needs of industries.
Emerging opportunities in untapped markets, especially in developing economies, underscore the global growth potential of the industry. There is a noticeable trend toward the customization and adaptability of tire cutting machines, catering to diverse tire sizes and types. This demand for versatility reflects the industrial commitment to meeting varied operational needs across different sectors.
Key Takeaways from the Market Study
- The market valuation in 2023 was US$ 1,283.1 million.
- Based on end-user type, MRO Centers are expected to dominate at a market share of 55% in 2024.
- The United States is estimated to register at a CAGR of 2.1% by 2034.
- Australia experiences significant growth, projected at a CAGR of 2.2% by 2034.
“A significant trend in the tire cutting machine market is the adoption of intelligent controls and automated functionalities, harnessing advancements such as artificial intelligence and robotics,” comments Nikhil Kaitwade, Associate Vice President at Future Market Insights, Inc.
Competitive Landscape
The competitive landscape of the tire cutting machine market is marked by fierce innovation and strategic positioning. Key players continuously strive to outpace competitors through advancements in technology and efficiency.
The industrial commitment to sustainability is evident in the development of machines facilitating efficient tire recycling. As demand surges, companies explore untapped markets, particularly in developing economies, heightening the competitive potential in this evolving sector.
Some of the products offered are as follows:
| Key Players | Product | Key Insights |
| Deluxe Pre-cured Machinery Private Limited | Tractor Tyre Lug Cutting with Buffing Machine |
|
| Star Steel Products | 3 TPH Tyre Strip Cutting Machine, 5 HP |
|
Key Companies Profiled
- Cosmos Tech
- KGN
- Singla Enterprises
- Star Steel Products
- Kiran Engineers
- Deluxe Pre-cured Machinery Private Limited
- Sivan Industrial engineering
- Bright Tyre Moulds & Engineering Works
- Indo Green Enviro Private Limited
- KMT Industries
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More Valuable Insights Available
Future Market Insights offers an unbiased global tire cutting machine market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034.
To understand tire cutting machine market opportunities are segmented based on Cutting Capacity (Less than 50 Tires per hour, more than 50 Tires per hour), Motor Power (Less than 3 hp, 3 hp – 5 hp, more than 5 hp), End-use (MRO Centres, Tire Recycling Companies), and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, The Middle East and Africa)
Key Segments of Tire Cutting Machine Market Survey
By Cutting Capacity:
- Less than 50 Tires per hour
- More than 50 Tires per hour
By Motor Power:
- Less than 3 HP
- 3 HP to 5 HP
- More than 5 HP
By End Use:
- MRO Centres
- Tire Recycling Companies
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
About the Industrial Automation Division at Future Market Insights:
The industrial automation team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With over 100+ reports and one million+ data points, the team has analyzed the industry lucidly in 50+ countries for over a decade. The team briefly analyzes key trends, including competitive landscape, profit margin, and research development efforts.
Author By:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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