Report ID: 10347594 |
Published Date: 21 Oct 2022 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
Global Tire Testing Machine Market is valued approximately USD 0.23 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 4.6% over the forecast period 2020-2027. Tire Testing Machine is a type of machine that helps us to analyze or understand the performance of the tire in terms of noise, wear, grip, rolling behavior and resistance. The increasing use of automatic tire testing machine, which provide faster cyclic time, decrease the lead time, surge in productivity and provide appreciable benefits to vehicle owners. Additionally, increasing demand from the military owned countries for the military vehicles is increasing the demand for the tire testing machines. For instance, as per the Statista, global demand for tire car and light commercial vehicle tires had surpassed 1.6 billion units in 2018. In 2019, the Japanese multinational motor vehicle parts manufacturer Bridgestone Corporation was the world’s largest tire manufacturing which generate sales around USD 27billion. However, high cost of machines and infrastructure setup impedes the growth of the market over the forecast period of 2020-2027. Also, increasing population which contributes to the sales of vehicles is likely to increase the market growth during the forecast period.
Key regions such as Asia Pacific, North America, Europe, and Latin America are considered for the regional analysis of global Tire Testing Machine market. In terms of market share, North America is the leading region across the world owing to the increasing demand for the vehicles and also they have prominent market players such as Calspan Corporation, MTS System and Corp Ametek Inc. Whereas, Asia-Pacific is expected to exhibit highest growth rate over the forecast period 2020-2027. Factors such as increasing population which increases demand for the vehicles and low cost labor would create lucrative growth prospects for the Tire Testing Machine market across Asia-Pacific region.
Major market player included in this report are:
Altracon Group
Calspan Corporation
MTS Systems
Talurit
Smithers Group
Leonardo Automation
Tianjin Jiurong Wheel tech
VMI Holland
Ropper Technologies
A & D
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Product Type:
Flat belt tire test machine
Rolling resistance rig
Dynamic patch test rig
Tire balancing machine
By Application:
Dynamic Stiffness
Wear resistance
Durability and endurance
Wheel balancing
By Industry:
Tire manufacturing
Automobile and heavy vehicle manufacturing
Aircraft manufacturing
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Tire Testing Machine Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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Report ID: 10347594 |
Published Date: 21 Oct 2022 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
