TechNavio recognizes the following companies as the key players in Tire Retreading Market in the US: Bridgestone Corp., Compagnie Generale des Etablissements Michelin SCA, Marangoni S.p.A., and The Goodyear Tire and Rubber Co.
Commenting on the report, an analyst from TechNavio’s team said: “Leading manufacturers have been increasing their investment in retread tire manufacture to cater to the high demand in the country. Retread tire manufacturers in the US such as Bridgestone, Michelin, Goodyear, Marangoni, and Continental Tire have been expanding their production capacities and are planning to introduce new plants in various regions in the country despite the shortage in the supply of tire casings. For instance, Marangoni is investing US$10 million in its tread rubber facility in Madison, US, to manufacture retread tires. Hence, the increased investment by leading manufacturers is expected to increase the availability of retread tires in the country, leading to the growth of the market during the forecast period.”
According to the report, the main factor is the cost-effectiveness of retread tires. A new passenger vehicle tire would cost four times more than a retread tire for the vehicle, which highlights its cost-effectiveness. Hence, a set of four retread tires can be purchased in place of one new tire.
Further, the report states that despite the presence of several drivers, the growth of the Tire Retreading market in the US is curtailed by some major challenges. The quality and reliability of retread tires are a major challenge for the market. These tires can be quite worn as the previous user might not have taken care of them. Sometimes the damage in a tire might not even be visible if it has been worn on the inside or outside of its grooves, and this could pose a threat to the user’s safety.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/tire-retreading-market-in-the-us-2014-2018
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/automotive-and-aerospace
Follow us on Twitter @ Technavio
TechNavio Announces the Publication of its Research Report – Tire Retreading Market in the US 2014-2018
