Tire Testing Market to be dominated by Passenger Car through 2027
Improvement in tire testing machine compatibility and the
flourishing automotive industry are driving the growth of global tire testing
market in the forecast period, 2023-2027.
According
to TechSci Research report, “Tire Testing Market - Global Industry Size,
Share, Trends, Opportunity and Forecast, 2017-2027”,
the global tire testing
market is anticipated to grow at a significant rate in the forecast period,
2023-2027. Tires play a vital role in the automobile's movement from one place
to another. Tires must perform under extreme weather and road conditions and
travel considerable distances before getting worn out. The tire testing machine
has dynamic abilities to check the extent of wear and tear on tires. An
increase in the focus for efficient tire performance, maintaining safety
requirements, and following the regulatory framework and mandate to ensure the
safety of highways is expected to accelerate the growth of the global tire
testing market. Before launching novel tires in the market, tire manufacturers
have to undergo research and development activities for product innovations and
technological advancements, patent filing, and tire testing processes. Growing
efforts made by the market players to improve the tire testing capabilities,
better performance, and faster output are significantly expected to boost the
market growth. Major players in the tire
testing machine are actively indulged in forming partnerships with automobile
manufacturers and original equipment manufacturers for the expansion of their
consumer base. An increase in partnerships is bolstering the speed of the
product development process to improve the life cycle and product value, which
is expected to fuel market growth.
The United States is one of the significant markets
for tire testing machines. It is the home of several major market players who
serve the automotive OEMs, tire manufacturers, and aircraft industry. The
presence of strict regulatory norms, including the FMVSS 119, which is North
American requirement based on the National Highway and Traffic Safety
Administration (NHTSA), is creating growth opportunities for the market in the
country.
However, existing tire testing machine industries
have to be upgraded to meet the current requirements, which is a costly process
for tire testing companies that are expected to restrain the growth of the
global tire testing market in the forecast period.
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Tire Testing Market"
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The global tire testing market is
segmented on the basis of testing type, sourcing, vehicle type, regional
distribution, and company.
On the basis of vehicle type, the global
tire testing market is divided into two-wheeler, passenger car, light
commercial vehicle, medium & heavy commercial vehicle, and OTR. The passenger
car segment is expected to hold the largest market share in five years. The
surge in the number of sales of passenger cars due to changing preferences for
vehicle ownership and the growing disposable income are influencing the market
demand. The rise in the number of market players, the introduction of superior
and advanced models to attract buyers, and the adoption of attractive marketing
strategies by the automotive market players are boosting the sales of passenger
cars around the globe.
On the basis of regional analysis, the
Asia-pacific region is expected to witness the fastest incremental growth in
the forecast period, 2023-2027. Major economies such as China, India, Japan are
driving the demand of the tire testing market. With the growing population,
rise in automobile production, and increase in production facilities, the tire
testing market is expected to grow significantly in China. Similarly, in India,
the presence of defense vehicles, laboratories, tire retailers, and specialist
shops which utilize tire testing machines, the growing middle class, and the
flourishing automotive industry is expected to accelerate the demand in the
country.
Major operating companies operating in global
tire testing market are:
- Calspan Corporation
- The Smithers Group Inc.
- A&D Technology
- TÜV SÜD
- Dufournier Technologies
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“An increase in awareness about the
adverse effect of carbon emission on the environment and the depleting traditional
energy sources fuel the adoption of electric cars worldwide. Electric vehicles
have distinct needs from traditional vehicles. The battery of electric vehicles
puts increased load on the wheel of electric vehicles leading to the reduced
range and more tread wears, therefore requiring tire testing techniques. Tire
testing market players provide customized solutions to the automotive tire
manufacturers according to their needs. Growing adaptability according to the
changing market and adopting measures to meet the market standards is expected
to propel the global tire testing market growth till 2027” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Tire Testing Market -
Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027”, has evaluated the future
growth potential of global tire testing and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in global tire testing market.
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