The global tire curing press industry is highly fragmented market with large number of global and regional players in the market. The market for tire curing press is growing at a sluggish pace during the forecast period. The market is mainly driven by the manufacturing of Tires.
Due to Covid-19 impact, the automotive industry is facing slow growth rate and this has ultimately impacted the tire market as well. Further, it is expected that new cars coming in the road will boost the demand for Tire curing press in near future.
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As the world is slowing overcoming from the pandemic, the production and demand for Tire in developing nations such as APAC, Africa and Latin America is rising gradually.
One of the key trends prevailing in the tire curing press market is automotive sector demand for energy-saving tires which is expected to bring a significant impact on the tire machinery sector over next few years.
Growing automotive sector and rising adoption of new technologies in the sector is giving rise annul production of the vehicle. The factor will impact the Tire curing press progression in the market in near future.
Gradual shift towards the green tire by the automotive players is expected to bring new opportunity in the market. As a result, the tire manufacturers are regularly involved in some of the brown field or green field projects to match their growing market demands.
Geographically, APAC, is the largest and fastest growing Tire curing press market with largest number of vehicle production on yearly basis, and growing number of automotive OEMs and Tire suppliers in the region. This will further up surge the growth of the China Tire curing press market in years to come.
Further, US and Europe hold the second and third largest Tire curing press market share respectively, due to the growing advance vehicle adoption.
Key players in the Tire curing press market includes Tire manufacturers. Mergers & acquisitions and strategic collaboration are certainly a disruption in the tire and rubber industry, but they also serve many useful purposes, including the transfer of knowledge and technology. For instance, Siemens has collaborated with McNeil & NRM’s to develop Autolok curing press with software-in-the-loop capability.
AMCL Machinery Ltd., CIMA IMPIANTI S.p.a., ContiTech AG, Greatoo Intelligent, Guilin Rubber Machinery Co. Ltd., Harburg-Freudenberger Maschinenbau GmbH, Larsen & Toubro Limited, McNeil and NRM Inc., Mitsubishi Heavy Industries Ltd., and Rogers Industrial Products Inc.