The global Tire Mold market size is estimated to be worth US$ 1601.49 million in 2021 and is forecast to a readjusted size of US$ 1682.68 million by 2028 with a CAGR of 1.23% during the forecast period 2022-2028.
The tire mold is a key part of the automotive industry. Tire molds are used to create tires for cars, trucks, and other vehicles. The molds are made from metal or plastic, and they come in a variety of sizes and shapes.
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Tire molds are created through a process called injection molding. In this process, molten plastic or rubber is injected into a mold. The material is then allowed to cool and harden, creating the desired shape.
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2017 to 2028. by Application segment also provides consumption during the forecast period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
The global major manufacturers of Tire Mold include Himile, Dynamic Design, Greatoo, Tianyang, Wantong, Hankook Precision Works, Anhui Wide Way Mould, King Machine, and A-Z, etc. In terms of revenue, the global three largest players hold a 37.76% market share of Tire Mold in 2021.
- Dynamic Design
- Hankook Precision Works
- Anhui Wide Way Mould
- King Machine
- SeYoung TMS
- Shinko Mold Industrial
Segment by Type
Segmented Molds accounting for 84% of the Tire Mold global market in 2021, is projected to value US$ 1,433.14 million by 2028, growing at a revised CAGR of 1.44% from 2022 to 2028.While PCR segment is altered to an 1.76% CAGR throughout this forecast period.
- Segmented Molds
- Two-Piece Molds
Segment by Application
Production by Region
North America Tire Mold market size was US$ 149.23 million in 2021, while Europe was US$ 321.73 million. The proportion of the North America was 9.32% in 2021, while Europe's percentage was 20.09%, and it is predicted that Europe market share will reach 19.30% in 2028, trailing a CAGR of 2.25% through the analysis period. As for the Asia, the notable markets are China, Japan and South Korea, CAGR is 1.76%, -0.44% and -0.02% respectively for the next 6-year period.
- North America
- South Korea
Consumption by Region
- North America
- United States
- South Korea
- Southeast Asia
- Rest of Europe
- South America
- Rest of South America
Drivers and Restrains:
The tire mold market is driven by the need for faster and more efficient production of tires. With the increasing demand for cars and other vehicles, there is a need for manufacturers to produce tires at a faster pace. Tire molds help to speed up the production process by allowing tires to be made quickly and efficiently.
Another driver of the tire mold market is the increasing demand for customization. Customers are now wanting tires that are specifically designed for their needs. This has led to an increase in the number of manufacturers offering custom-made tire molds.
One of the main restraints on the tire mold market is the high cost of these molds. Tire molds can be very expensive, which makes them out of reach for many small and medium-sized manufacturers.
Another restraint on the market is the time it takes to produce a tire mold. These molds can take weeks or even months to produce, which can delay production schedules.
The research report has incorporated the analysis of different factors that augment the market's growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert's opinions have been taken to understand the market better.
Key Indicators Analyzed:
- Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2016-2028 & Sales with a thorough analysis of the market’s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.
- Global and Regional Market Analysis: The report includes Global & Regional market status and outlook 2016-2028. Further the report provides break down details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast. With detailed analysis by types and applications.
- Market Trends: Market key trends which include Increased Competition and Continuous Innovations.
- Opportunities and Drivers: Identifying the Growing Demands and New Technology
- Porters Five Force Analysis: The report provides with the state of competition in industry depending on five basic forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and existing industry rivalry.
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- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
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