Global Tyre Building Machine Market Size By Type (Ordinary Tire Moulding Machine, Radial Tire Moulding Machine), By Application (Inner Tube, Outer Tube), By Region, And Segment Forecasts, 2023 to 2032

The Global Tyre Building Machine Market is poised for robust growth from 2023 to 2031, spurred by increasing demand in the automotive and transportation industries. The market's expansion is driven by technological advancements, growing investments in manufacturing automation, and the rising demand for high-quality, durable tyres. Tyre building machines play a critical role in ensuring precision, efficiency, and speed in tyre production, supporting the evolving needs of the automotive sector, particularly in electric vehicles (EVs), light trucks, and performance vehicles.

Drivers:

Rising Demand in the Automotive Sector: The growth in automotive production, especially for EVs, is driving the demand for advanced tyre manufacturing equipment.

Automation in Manufacturing: Automation increases production efficiency and quality, reducing errors and enhancing operational speed.

Demand for Specialty Tyres: A shift towards high-performance and specialty tyres, such as for sports and utility vehicles, demands precision manufacturing equipment.

Restraints:

High Initial Investment: The substantial cost of acquiring and maintaining advanced tyre building machines can be a challenge for smaller manufacturers.

Limited Skilled Workforce: Operating complex, automated machinery requires skilled operators, which poses challenges in certain regions.

Opportunity:

Growth in Emerging Markets: Rapid industrialization and vehicle production in regions such as Asia-Pacific and Latin America create lucrative opportunities.

Sustainable Tyre Manufacturing: Eco-friendly tyre production practices, including machines optimized for lower emissions and reduced material wastage, present new avenues for growth.

Market by System Type Insights:

The Fully Automated Tyre Building Machine segment held the largest share in 2023 due to its high precision, efficiency, and ability to reduce labor costs. Automated machines support the growing demand for complex tyre specifications, especially in EV and specialty segments. The Semi-Automated Segment, however, is popular among mid-sized manufacturers due to cost-effectiveness, and is expected to witness steady growth.

Market by End-use Insights:

In terms of end use, the Automotive Tyre Manufacturing segment dominates, driven by the increasing demand for light vehicle and performance tyres. OEMs and Aftermarket Tyre Manufacturers also constitute significant portions of the market, as they benefit from the flexibility and customization provided by modern tyre building machines.

Market by Regional Insights:

Asia-Pacific leads the market with its booming automotive sector and rising investments in manufacturing infrastructure, followed by Europe and North America. Europe is characterized by stringent regulations on tyre quality and safety, contributing to advanced manufacturing processes. North America sees robust growth due to high demand for specialty tyres and increasing focus on automation in the automotive sector.

Competitive Scenario:

Key players in the Global Tyre Building Machine Market include Harburg-Freudenberger Maschinenbau GmbH, Larsen & Toubro Ltd., Mitsubishi Heavy Industries Machinery Systems, Ltd., Guilin Rubber Machinery Co., Ltd., and Pelmar Engineering Ltd. Companies are focused on product innovations, collaborations, and geographic expansion to strengthen their market presence. Recent advancements include energy-efficient machinery and systems compatible with sustainable manufacturing practices.

Scope of Work – Global Tyre Building Machine Market

Key Market Developments:

2023: Harburg-Freudenberger Maschinenbau GmbH introduced a new line of eco-friendly tyre building machines, reducing material wastage by 15%.

2024: Larsen & Toubro Ltd. announced a strategic partnership with a major EV tyre manufacturer to develop automated solutions tailored for EV tyre production.

2025: Pelmar Engineering Ltd. expanded operations in Asia-Pacific, addressing the increasing demand for tyre manufacturing equipment in emerging markets.

FAQs:

What is the current market size of the Global Tyre Building Machine Market?

The market size was valued at USD 1.8 billion in 2023.

What is the major growth driver of the Global Tyre Building Machine Market?

The major growth driver is the rising demand for high-quality and specialty tyres in the automotive sector, especially for electric vehicles.

Which is the largest region during the forecast period in the Global Tyre Building Machine Market?

Asia-Pacific is expected to be the largest region, driven by rapid industrialization and the expansion of automotive manufacturing facilities.

Which segment accounted for the largest market share in the Global Tyre Building Machine Market?

The Fully Automated Tyre Building Machine segment accounted for the largest share in 2023.

Who are the key market players in the Global Tyre Building Machine Market?

Key players include Harburg-Freudenberger Maschinenbau GmbH, Larsen & Toubro Ltd., Mitsubishi Heavy Industries Machinery Systems, Ltd., and Pelmar Engineering Ltd.