Improvement in tire testing machine compatibility and the flourishing automotive industry are driving the growth of global tire testing market in the forecast period, 2023-2027.
According to TechSci Research report, “Tire Testing Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027”, the global tire testing market is anticipated to grow at a significant rate in the forecast period, 2023-2027. Tires play a vital role in the automobile's movement from one place to another. Tires must perform under extreme weather and road conditions and travel considerable distances before getting worn out. The tire testing machine has dynamic abilities to check the extent of wear and tear on tires. An increase in the focus for efficient tire performance, maintaining safety requirements, and following the regulatory framework and mandate to ensure the safety of highways is expected to accelerate the growth of the global tire testing market. Before launching novel tires in the market, tire manufacturers have to undergo research and development activities for product innovations and technological advancements, patent filing, and tire testing processes. Growing efforts made by the market players to improve the tire testing capabilities, better performance, and faster output are significantly expected to boost the market growth. Major players in the tire testing machine are actively indulged in forming partnerships with automobile manufacturers and original equipment manufacturers for the expansion of their consumer base. An increase in partnerships is bolstering the speed of the product development process to improve the life cycle and product value, which is expected to fuel market growth.
The United States is one of the significant markets for tire testing machines. It is the home of several major market players who serve the automotive OEMs, tire manufacturers, and aircraft industry. The presence of strict regulatory norms, including the FMVSS 119, which is North American requirement based on the National Highway and Traffic Safety Administration (NHTSA), is creating growth opportunities for the market in the country.
However, existing tire testing machine industries have to be upgraded to meet the current requirements, which is a costly process for tire testing companies that are expected to restrain the growth of the global tire testing market in the forecast period.
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The global tire testing market is segmented on the basis of testing type, sourcing, vehicle type, regional distribution, and company.
On the basis of vehicle type, the global tire testing market is divided into two-wheeler, passenger car, light commercial vehicle, medium & heavy commercial vehicle, and OTR. The passenger car segment is expected to hold the largest market share in five years. The surge in the number of sales of passenger cars due to changing preferences for vehicle ownership and the growing disposable income are influencing the market demand. The rise in the number of market players, the introduction of superior and advanced models to attract buyers, and the adoption of attractive marketing strategies by the automotive market players are boosting the sales of passenger cars around the globe.
On the basis of regional analysis, the Asia-pacific region is expected to witness the fastest incremental growth in the forecast period, 2023-2027. Major economies such as China, India, Japan are driving the demand of the tire testing market. With the growing population, rise in automobile production, and increase in production facilities, the tire testing market is expected to grow significantly in China. Similarly, in India, the presence of defense vehicles, laboratories, tire retailers, and specialist shops which utilize tire testing machines, the growing middle class, and the flourishing automotive industry is expected to accelerate the demand in the country.
Major operating companies operating in global tire testing market are:
- Calspan Corporation
- The Smithers Group Inc.
- A&D Technology
- TÜV SÜD
- Dufournier Technologies
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“An increase in awareness about the adverse effect of carbon emission on the environment and the depleting traditional energy sources fuel the adoption of electric cars worldwide. Electric vehicles have distinct needs from traditional vehicles. The battery of electric vehicles puts increased load on the wheel of electric vehicles leading to the reduced range and more tread wears, therefore requiring tire testing techniques. Tire testing market players provide customized solutions to the automotive tire manufacturers according to their needs. Growing adaptability according to the changing market and adopting measures to meet the market standards is expected to propel the global tire testing market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Tire Testing Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027”, has evaluated the future growth potential of global tire testing and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global tire testing market.
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