- Tire manufacturers are increasingly adopting automation solutions in their production process to enhance their production capacity and product quality.
- Leading vendors are looking for tire manufacturing machines which come with high production output and low maintenance cost as well as low manpower requirement.
- With technological advancement, tire building machinery is enable to produce large tire dimensions and new tires with sophisticated designs. Therefore, integration of automation solutions in tire building machinery is expected to drive the market in the next few years.
Tire Building Machinery Market: Dynamics
- Increase in demand for replacement tires in passenger and commercial vehicles due to various factors such as constant exposure to wear and tear, harsh road conditions, need for seasonal tires, and changing consumer perspective, is expected to drive the market. In commercial vehicles, tires have a short life span and they need to be replaced after completion of five years of service period. Both developed and developing countries are witnessing a rising demand for replacement tires and this encourages manufacturers to enhance the production capacity of tire plants. Hence, rise in demand for replacement tires is expected to drive the market in the near future.
- The building machinery companies are increasingly adopting automation solutions in their manufacturing process to increase its productivity and decrease their maintenance cost, which is likely to supplement the growth of tire building machinery market.
- Adoption of IoT in tire manufacturing is projected to advance the growth of the tire building industry. Automotive industry is expanding significantly and it leads to increase in number of newly designed car models.
- Different car models require tires of different patterns and sizes. However, tire manufacturers find it difficult to manufacture specific tires as per requirement, as it results in changing the entire tire-building process. Thus, frequent changes in tire specifications are likely to hinder the tire building machinery market.