Tire Conveyor Market Size, Share, Opportunities, And Trends By Type, Tire Type, Application, and Geography - Forecasts From 2023 To 2028

Tire Conveyor Market Size:

The tire conveyor market is estimated to expand at a constant rate over the forecast period.

Tire conveyors are machines that are used to handle, transport, and manage tires from raw materials to finished products. Tire conveyors are used in a variety of tire manufacturing operations and contribute to a safe, efficient, and functional work environment for employees, as well as increased productivity in tire manufacturing facilities. Growing tire manufacturing plants and production served as an important factor behind the tire conveyor industry's growth.

Tire Conveyor Market Drivers:

• Growing automotive manufacturing units expand the growth of the tire conveyor market.

As a new automotive manufacturing unit begins operation, it frequently results in an immense rise in production capacity. Higher production volumes require efficient and streamlined material handling operations, and tire conveyors become critical for the effortless movement of tires within the manufacturing facility. New establishments of automotive manufacturing units increase the demand for tire conveyors for safe and functional work processes. For instance, in September 2023, Lucid Group, Inc. officially opened its initial car manufacturing facility in Saudi Arabia.  Lucid's second Advanced Manufacturing Plant (AMP-2) and first international plant would manufacture its groundbreaking electric vehicles for Saudi Arabia.

• Increasing tire manufacturing plants bolster the tire conveyor market growth.

Tire conveyors are essential in automating material handling processes, ensuring a continuous and integrated flow of tires from one stage of production to the next. The establishment of new tire manufacturing units increases the demand for tire conveyors to boost productivity and smooth transportation, which led to a significant growth of the tire conveyor industry. For instance, in October 2023, the Public Investment Fund (PIF) and Pirelli Tyre S.P.A (Pirelli), a leading global tire manufacturer, announced the formation of a joint venture to construct a tire manufacturing facility in Saudi Arabia. The establishment of tire recycling plants is also being witnessed. In February 2021, Michelin partnered with Enviro to build its first tire recycling plant, which will be capable of recycling 30,000 tons of earthmover tires per year.

• The expansion of tire production drives the tire conveyor market.

The growing tire production is critical to the expansion of the tire conveyor industry. Tire conveyor systems help in increasing tire production capacity as they offer to handle and transport tires within manufacturing facilities, which improves the time-consuming nature of transferring finished goods. This has led to the adoption of these conveyor systems. Therefore, in February 2023, the United States Tire Manufacturers Association (USTMA) forecasts total tire shipments in the United States will reach 334.2 million units in 2023, up from 332.0 million units in the year 2022 and 332.7 million units in the year 2019. 

Tire Conveyor Market Geographical Outlook:

• Asia Pacific is anticipated to show significant growth.

Asia Pacific is anticipated to account for a major share of the tire conveyor market due to increasing tire manufacturing facilities, coupled with favorable investment inflows and bolstering automotive growth. For instance, in 2022, Yokohama Rubber Co., Ltd. began production at its Visakhapatnam Plant in India. The new plant was established to increase the capacity of Yokohama Off-Highway Tires (YOHT). The Automotive Tyre Manufacturers Association (ATMA) estimates that India's tire industry will more than double its revenue to $22 billion by FY32, up from $9 billion in FY22. Additionally, according to the China Association of Automobile Manufacturers, automobile manufacturing and sales were 27.021 million and 26.864 million in 2022, respectively, up 3.4% and 2.1% every year.

Tire Conveyor Market Challenges:

• High maintenance and cost will restrain the growth of the tire conveyor market.

Tire conveyor systems can be costly to install and maintain, which can be an obstacle for some businesses. Tire conveyor systems' high capital costs can limit their adoption, particularly for smaller businesses, which may hinder the growth of the tire conveyor market.

Tire Conveyor Market: Company Products

Tire Conveyor Market Segmentation:

• By Type
  • Roller Conveyor
  • Spiral Conveyor
  • Motorized Chain Conveyor
  • Floor-To-Floor
  • Others
• By Tire Type
  • Finished
  • Semi-Finished
• By Application
  • Loading & Unloading
  • Sorting
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Indonesia
    • Others