Vehicle Tire Molds Market was valued at USD 1.5 Billion in 2022 and is projected to reach USD 2.5 Billion by 2030, growing at a CAGR of 7.0% from 2024 to 2030.
As the vehicle tire molds market continues its upward trajectory, the period from 2023 to 2033 is expected to see a surge in demand due to several key factors. Advances in electric vehicle (EV) adoption are anticipated to drive demand for specialized tires, particularly those suited for EVs, which often have different requirements compared to traditional internal combustion engine vehicles. The growing trend of sustainability in the automotive industry is also expected to influence the design of tire molds, as eco-friendly materials and production methods become more prevalent. With the increase in both passenger and commercial vehicles, along with the expected rise in demand for high-performance tires, the need for state-of-the-art molds will continue to grow.
New technologies and trends are also set to revolutionize the vehicle tire molds market in the coming decade. Automation and artificial intelligence are expected to play a significant role in increasing production efficiency and reducing costs. Furthermore, as tire manufacturers strive for precision and cost-effectiveness, the role of advanced mold materials such as high-performance steel alloys will become increasingly important. In terms of regional growth, Asia-Pacific will continue to dominate the market, followed by North America and Europe, as emerging markets in Asia drive significant demand for tire molds.
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The global vehicle tire molds market, which covers the design and manufacturing of molds used in the production of vehicle tires, saw considerable growth from 2018 to 2022. This was driven by several factors, including the increased demand for vehicles, advancements in tire technology, and the growing automotive industry in emerging economies. During this period, manufacturers focused on improving the precision and durability of molds to cater to the evolving needs of tire manufacturers worldwide. Notable improvements in materials used for molds, as well as innovations in automation and precision engineering, further boosted market expansion. The increasing number of vehicles on the road, particularly in developing countries, created a steady demand for high-quality tires, which in turn led to a growing need for advanced tire molds.
Saehwa IMC
Herbert Maschinen
MK Technology
King Machine
Quality Mold
A-Z Formen-und Maschinenbau
Shinko Mold Industrial
SeYoung TMS
Himile
Greatoo
Anhui Wide Way Mould
Wantong
Anhui Mcgill Mould
Tianyang
HongChang
Qingdao Yuantong Machine
Shandong Jinli Tire Equipment
Shandong Hongji Mechanical Technology
Rongcheng Hongchang Mold
Anhui McgillMould
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Vehicle Tire Molds Market
Commercial Vehicle Tire
Passenger Vehicle Tire
Based on Types the Market is categorized into Below types that held the largest Vehicle Tire Molds market share In 2023.
Segmented Molds
Two-Piece Molds
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Vehicle Tire Molds Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Vehicle Tire Molds Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Vehicle Tire Molds Market, By Type
6. Global Vehicle Tire Molds Market, By Application
7. Global Vehicle Tire Molds Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Vehicle Tire Molds Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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