Tyre Curing Press Market Size, Share, Growth, and Industry Analysis, By Type (Mechanical Curing Press, Hydraulic Curing Press, and Hybrid Curing Press), By Application (Ordinary Tyre, and Radial Tyre), Regional Insights, and Forecast To 2032

Updated On: 22 April 2024

REPORT OVERVIEW

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The global tyre curing press market size was in USD 1045.7 million 2022. As per our research, the tyre curing press market is expected to reach USD 1212.6 million by 2028, exhibiting a CAGR of 2.5% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden decline in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

A tyre curing press is a specialized industrial apparatus employed in the production of automotive tires. Its principal role is to mold and solidify the raw or "green" tyres, which consist of rubber compounds and layers of fabric, into their ultimate, robust, and road-ready state. The tyre curing press holds immense significance within tyre manufacturing facilities, as it assumes a pivotal role in converting raw tyre materials into fully prepared, market-ready tyres.

COVID-19 Impact: Increased Demand for Replacement Tires among Population to Fuel Market Growth

Amid the pandemic, reduced driving resulting from lockdowns and restrictions led to less wear and tear on tyres. Consequently, there was a surge in demand for replacement tyres, driven by the aging of older tyres rather than wear-related replacements. As a result of lockdowns, stay-at-home directives, and travel restrictions imposed during the pandemic, individuals substantially reduced their use of vehicles. With a decrease in vehicle mileage, the wear and tear experienced by existing tyres significantly diminished.

The global automotive production witnessed a substantial decline during the pandemic due to supply chain interruptions, diminished consumer demand, and apprehensions regarding worker safety among manufacturers. This downturn had a direct adverse effect on the demand for tyre manufacturing machinery, including tyre curing presses.

LATEST TRENDS

"Automation and Industry 4.0 Integration, and Energy Efficiency to Fuel Market Growth "

Tyre manufacturing companies have embraced automation by integrating robotic systems into their curing press operations. These automated systems, including robotic arms and conveyor systems, are responsible for tasks such as tyre loading and unloading onto tyre curing presses, effectively reducing the reliance on manual labor and enhancing operational efficiency. In line with Industry 4.0 principles, a data-centric approach is emphasized. Curing presses are equipped with sensors and Internet of Things (IoT) devices that gather real-time data concerning variables like temperature, pressure, and curing durations. This data is subsequently analyzed to oversee and fine-tune the curing process, ensuring consistent product quality and energy efficiency. Furthermore, predictive maintenance plays a pivotal role in the integration of Industry 4.0. The tyre curing press feature condition monitoring systems that continually evaluate the condition of critical components. An increasing focus was placed on designing tyre curing press for energy efficiency. Manufacturers were actively seeking ways to lower energy consumption by introducing innovations in heating techniques, insulation materials, and energy recovery systems. This emphasis on energy efficiency was in line with broader sustainability objectives.

SEGMENTATION

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• By Type

Based on Type tyre curing press market is classified as Mechanical Curing Press, Hydraulic Curing Press, and Hybrid Curing Press.

• By Application

Based on Application tyre curing press market is classified as Ordinary Tyre, and Radial Tyre.

DRIVING FACTORS

"Automotive Industry Growth to Fuel Market Growth "

The demand for tyre curing presses is intricately linked to the growth of the automotive industry. As the automotive sector experiences tyre curing press market growth driven by factors such as increased vehicle production and rising consumer demand, there is a direct and substantial surge in the requirement for tyre manufacturing equipment, including curing presses.

"Replacement Tire Demand to Stimulate Market Progress"

The demand for tyre curing presses is greatly influenced by the replacement tyre market. With vehicles on the road necessitating new tyres as they naturally wear out and age, a constant requirement exists for tyre manufacturing machinery to produce replacement tyres.

RESTRAINING FACTORS

"Economic Conditions to Harm Market Growth "

Economic downturns and variations in the global economy can have a substantial influence on the demand for new tyres, subsequently affecting the demand for tyre curing presses. When economic recessions occur, consumers often postpone buying new vehicles or replacing tyres less frequently, resulting in a decreased demand for tyre curing presses.

REGIONAL INSIGHTS

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"North America provides robust emphasis on technological innovations to Drive Market Share" 

In North America tyre curing press market, characterized by maturity, well-established manufacturing facilities, and a robust emphasis on technological innovations in tyre production, various manufacturers vie for tyre curing press market share. The region's stringent environmental regulations are driving a growing demand for energy-efficient and environmentally friendly curing press equipment, as companies compete to capture a larger tyre curing press market share. Furthermore, a significant portion of market demand is attributed to the replacement of aging curing presses with more advanced and modern models, presenting a prime opportunity for manufacturers to secure a substantial market share.

KEY INDUSTRY PLAYERS

"Multitude of companies that played a pivotal role in expansion of tyre curing press"

The tyre curing press market is characterized by the presence of significant industry leaders who play pivotal roles in shaping the market's progress and advancement. These companies typically have a worldwide footprint and provide a diverse array of curing press machinery and associated services. One such prominent player is HF TireTech Group, a global manufacturer of tyre curing presses renowned for delivering a comprehensive spectrum of curing press solutions to the tyre industry. Their reputation is built on innovative technologies and the provision of top-tyre equipment.

List of Market Players Profiled

• HF TireTech (Hamburg)
• Kobe Steel (Japan)
• MHIMT (Haryana)
• Hebert (U.S.)
• Rogers (Canada)

REPORT COVERAGE

The future demand for the tyre curing press market is covered in this study. The Research report includes the Impact of Increased Demand for Replacement Tyres due to the Covid-19 Impact. The report covers the latest trends in Automation and Industry 4.0 Integration. The paper includes a segmentation of the tyre curing press market. The research paper includes the driving factors that are Automotive Industry Growth to Fuel Market Growth. The report also covers information on Regional Insights where the region which has emerged leading market for tyre curing press.