Tire Retreading Market Size

Statistics for the 2023 & 2024 Tire Retreading market size, created by Mordor Intelligence™ Industry Reports. Tire Retreading size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Tire Retreading Industry

Single User License
Team License
Corporate License
Book before:
Tire Retreading Market Summary
share button
Study Period 2019 - 2029
Market Size (2024) USD 5.44 Billion
Market Size (2029) USD 6.41 Billion
CAGR (2024 - 2029) 3.31 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific

Major Players

rd-img

*Disclaimer: Major Players sorted in no particular order

setting-icon

Need a report that reflects how COVID-19 has impacted this market and its growth?

Single User License

OFF

Team License

OFF

Corporate License

OFF
Book before:

Tire Retreading Market Analysis

The Tire Retreading Market size is estimated at USD 5.44 billion in 2024, and is expected to reach USD 6.41 billion by 2029, growing at a CAGR of 3.31% during the forecast period (2024-2029).

The global automotive industry witnessed a hit for the year 2020 due to COVID-19 pandemic-associated lockdown. During the lockdown situation, manufacturing activities, including tire retreading activities, were halted for several weeks in the first half of 2020. This, in turn, hampered the growth of the market. However, the automotive industry witnessed significant growth in terms of production in 2022, which in turn is likely to witness major growth for the market during the forecast period.

Over the medium term, The tire retreading market is anticipated to be primarily driven by rising prices of new tires, especially for sports utility vehicle tires, primarily attributed to rising natural rubber costs and fluctuating crude oil prices. The increase in the number of commercial vehicles in operation across the world is anticipated to remain a major driving factor for the market\

Tire manufacturers have also expressed keen interest in exploring new opportunities and market demand for retreading the tires, owing to the increased inclination toward this technology. Major tire manufacturers have also begun research into this technology with a vision to cater to this market. For instance,

The tire retreading market is anticipated to be driven by the eco-friendly nature of retreaded tires and lower cost when compared to new tires. Retreading is highly environment-friendly. When the existing tires are made ready for further use, the manufacturers save landfill space. Also, it reduces carbon dioxide emission and saves millions of gallons of oil which is required to manufacture new tires.

Tire Retreading Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)