NEW YORK, August 19, 2021 / PRNewswire / – According to Technavio, the tire retreading market in the US is valued at $ 355.21 million in the period 2021-2025. The report provides a detailed analysis of the impact of COVID-19 on the market and the new opportunities that market participants can expect. Additionally, the report predicts the market will advance at a CAGR of 1.82%.
Technavio announced its latest market research report, United States Tire Retreading Market by Process Type and Consumption – Forecast and Analysis 2021-2025
Make safe decisions with our benchmarks and analyzes.
Request a free sample report
US Tire Retreading Market: Lower Tire Retreading Costs Driven Growth
The lower cost of retreading compared to new tires is one of the main drivers of the growth of the tire retreading market in the United States. Retreading tires costs around 40% less than new tires. This will give fleet operators greater leverage in achieving operational efficiency. The lower rubber consumption reduces the dependency of retreads on raw materials. Repeated recycling of tires increases their service life and reduces costs. Retreads have no taxes like the federal excise tax (FET). The major retreading manufacturers give a guarantee every time a tire is retreaded. This lowers the cost of retreading tires in the event of likely breakdowns.
Is there any relief during this COVID pandemic? Request a free sample research report
According to Technavio, the increasing number of M&A activities will have a positive effect on the market and contribute significantly to its growth in the forecast period. This research report also analyzes other key trends and market drivers that will influence market growth in 2021-2025 period.
U.S. Tire Retreading Market: Environmental Benefits Associated with Tire Retreading
The environmental benefits associated with tire retreading should drive growth in the US tire retreading market over the forecast period. By retreading the tires, significantly more rubber can be saved compared to using new tires. Landfill space is becoming scarce in the US because tires are non-biodegradable and have a significant negative impact on the environment. Tire retreading addresses this problem by reducing landfill and carbon footprint in the manufacture of new tires. The oil savings in retreaded tires are also very significant because tires are petrochemical products. Tire retreading is environmentally friendly and is therefore supported by various regulatory authorities that encourage the use of retreaded tires.
The story goes on
Register today for a free trial and get instant access to over 17,000 research reports on 800 technologies in 50 countries.
Technavio’s SUBSCRIPTION platform
Related reports on consumer discretionary include:
Agricultural Tire Market by End-User & Geography – Forecast and Analysis 2021-2025: The Agricultural Tire Market has the growth potential around $ 2.2 billion in the period 2021-2025, and the market growth momentum will accelerate with a CAGR of 4.76%. For In-Depth Research Insights: Download our exclusive sample report
Global Automotive Tire Retread Service Market: The automotive retread service market is expanding by over $ 118 million during the forecast period. This report offers market analysis based on the type of technology (pre-hardening and die-hardening).
Download our exclusive sample report of the latest version
United States Tire Retreading Market: Segmentation Analysis
This market research report segments the U.S. Tire Retreading Market by Type (Pre-Cure and Mold-Cure) and Market Landscape (Domestic Consumption and Export).
Technavio’s sample reports are free and gain competitive information about market participants. Track key industry trends, opportunities, and threats. Inform your marketing, your brand, your strategy and your market development. Request a free sample report
The main topics of the report include:
Market challenges
Market leader
Market trends
Provider landscape
About Technavio
Technavio is a leading global technology research and consulting company. Her research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialist analysts, Technavio’s report library consists of more than 17,000 reports and includes more than 800 technologies in 50 countries. Her customer base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s extensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive position in changing market scenarios.
contacts
Technavio research
Jesse Maida
Media and Marketing Director
USA: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
Report: https://www.technavio.com/talk-to-us?report=IRTNTR43800
Technavio (PRNewsfoto / Technavio)
Cision
View original content to download multimedia: https://www.prnewswire.com/news-releases/tire-retreading-market-in-the-us-to-grow-by-usd-355-21-mn-in-2021 -2025 – aviation-tires-and-treads-llc-and-best-of-a-tires-and-service-to-be-produced-as-important-contributors-to-growth-technavio-301358253.html
SOURCE Technavio