Growing technological innovations in retread tire industry
coupled with growing commercial vehicle fleet across the globe to drive global retread
tire market through 2023.
According
to TechSci Research report, “Global Retread Tire
Market By Vehicle Type, By Retread Process, By
Region, Competition, Forecast & Opportunities, 2023”, the global retread tire market is projected
to cross $ 11.5 billion by 2023, on account of rising technological advancements
in retread tire industry and increasing consumer inclination towards using
retread tires. Moreover, retread tires are witnessing high demand from fleet
owners as these tires provide better cost per kilometer along with enhanced
retread tire life. Additionally, growing fleet of commercial vehicles across
the globe and rising environmental concerns is further anticipated to push
sales of retread tires in
the coming years.
Browse 160 market data Figures and Tables spread
through 190 Pages and an in-depth TOC on "Global Retread Tire Market" https://www.techsciresearch.com/report/retread-tire-market/3736.html
With more than four-fifth of the market share, commercial vehicle segment
dominated global retread tire market in 2017, followed by passenger car and off-the-road
vehicle segments. The lion’s share of commercial vehicle segment is backed by
growing e-commerce and logistics industries, in which trucks are being extensively
used for transportation. Moreover, growing construction and infrastructural
development across the globe is further supporting global retread tire market. Prominent
companies in retreading
business such as Vipal, Michelin, Marangoni, Bandag, Continental, Goodyear,
etc., are continuously working on producing more affordable and advanced
products as well as increasing focus on expanding their product offerings to attract
customers.
Customers
can also request for 10% free customization on this report.
“With
growing environmental concerns across the globe, retread tires offer a
promising alternative to new tires. Moreover, retread tires are cost-effective
and require less resources to manufacture as compared to new tires. Also,
with the introduction of new advanced technologies, the quality of retread tires
has become much better over the last several years, thereby making them a
preferred choice for fleet owners. Additionally, rising consumer acceptance of
retread tires coupled with growing average selling price of new tires would further steer
growth in global retread tire
market during forecast period.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Global Retread
Tire Market By Vehicle Type, By Retread Process, By
Region, Competition, Forecast & Opportunities, 2023” has analyzed the potential of retread tire market, globally,
and provides statistics and information on market sizes, shares and trends. The
report will suffice in providing the intending clients with cutting-edge market
intelligence and help them in taking sound investment decisions. Besides, the
report also identifies and analyzes emerging trends along with essential
drivers and key challenges faced by global retread tire market.
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