Published by Uma Rajagopal
Posted on February 2, 2022
Expansion of the tire industry and increasing automotive sales are anticipated to drive the tire testing machine market. According to a study by Future Market Insights (FMI), the tire testing machine market will reach US$ 467.7 Mn by 2021. The increasing rate in tire production will remain a chief growth driver.
Tire testing machines have dynamic abilities to notify the extent of wear and tear on tires. The rising focus on efficient tire performance, rigid regulatory framework for tire testing and mandate on safety on highways, and other forms of safety requirements have cumulatively propelled the market growth. These machines also are used across aerospace and defence facilities.
The COVID-19 pandemic outbreak has impacted the global economy at various levels and electronics industry has not been spared. The tire testing machine market growth is projected to be affected by the COVID-19 pandemic crisis and is expected to witness a significant drop in demand in 2021. With a number of end-use industries affected in regions like North America, Europe and Asia-Pacific, the oversupply and shortage in demand are expected to result in a significant drop in Y-O-Y growth.
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Nonetheless, a study by FMI has projected the tire testing machine market to reach US$ 730.8 Mn by the end of 2031, growing at a CAGR of 4.6% over the forecast years (2021-2031). Their increasing application in testing tires for four wheelers will continue supporting growth. As per FMI, four-wheelers account for above 30% of sales in market.
Key Takeaways of Tire Testing Machine Market Study
“Tire testing machines play a pivotal role in the global tire landscape. The market is expected to witness major transformations with automation and collaborative efforts from tire manufacturers and OEM technology.”
North America is expected to exhibit high demand for tire testing machine. Increasing vehicle production in the region has and focus on product innovations by some of the leading market participants have been driving growth in North America. In Asia-Pacific, the increasing demand from applications such as including passenger cars and heavy commercial vehicles, is likely to favor the expansion of tire testing machine market.
Competitive Landscape
The key players operating in the global tire testing machine market include MTS Systems Corp, A&D Co. Ltd, Ametek Inc, ZF AG, Kobelco Corporation, Kokusai Co. Ltd and TMSI LLC. The market is highly competitive and it is driven majorly by supplier side and influenced by demand side trends. Both global and regional players play pivotal role to provide the most cost competitive solution for various end users including automotive, aerospace and largely tire manufacturers.
We Offer tailor-made Solutions to fit Your Requirements, Request Customization@ https://www.futuremarketinsights.com/customization-available/rep-gb-8680
Tire Testing Machine Market by Segments
Machine Type
Application
Operation
End-use
Region
Direct Purchase of this Report@ https://www.futuremarketinsights.com/checkout/8680
Top Reports Related To Testing Equipment Market Insights
Destructive Testing Market : destructive testing market grew by 4.8% year on year. Across the entire globe, the overall sales of equipment in destructive testing market is expected to surpass 355,908 units by 2031. As a result of soaring concerns pertaining to food safety and resultant integration of advanced technologies in production will enable growth in the market at 6% CAGR between 2021 and 2031.
Viscometers Market : FMI has predicted the market to rise at a healthy CAGR of 6.9%, surpassing a shipment of 51,000 units during the forecast period (2021-2031). Regionally, North America is expected to remain dominant, expanding at 6.4% CAGR over the course of the assessment period.
About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact
Future Market Insights
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
MARKET ACCESS DMCC Initiative
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
Report: https://www.futuremarketinsights.com/reports/tire-testing-machine-market
Press Release Source: https://www.futuremarketinsights.com/press-release/tire-testing-machine-market
Expansion of the tire industry and increasing automotive sales are anticipated to drive the tire testing machine market. According to a study by Future Market Insights (FMI), the tire testing machine market will reach US$ 467.7 Mn by 2021. The increasing rate in tire production will remain a chief growth driver.
Tire testing machines have dynamic abilities to notify the extent of wear and tear on tires. The rising focus on efficient tire performance, rigid regulatory framework for tire testing and mandate on safety on highways, and other forms of safety requirements have cumulatively propelled the market growth. These machines also are used across aerospace and defence facilities.
The COVID-19 pandemic outbreak has impacted the global economy at various levels and electronics industry has not been spared. The tire testing machine market growth is projected to be affected by the COVID-19 pandemic crisis and is expected to witness a significant drop in demand in 2021. With a number of end-use industries affected in regions like North America, Europe and Asia-Pacific, the oversupply and shortage in demand are expected to result in a significant drop in Y-O-Y growth.
Request a Sample of this Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-8680
Nonetheless, a study by FMI has projected the tire testing machine market to reach US$ 730.8 Mn by the end of 2031, growing at a CAGR of 4.6% over the forecast years (2021-2031). Their increasing application in testing tires for four wheelers will continue supporting growth. As per FMI, four-wheelers account for above 30% of sales in market.
Key Takeaways of Tire Testing Machine Market Study
“Tire testing machines play a pivotal role in the global tire landscape. The market is expected to witness major transformations with automation and collaborative efforts from tire manufacturers and OEM technology.”
North America is expected to exhibit high demand for tire testing machine. Increasing vehicle production in the region has and focus on product innovations by some of the leading market participants have been driving growth in North America. In Asia-Pacific, the increasing demand from applications such as including passenger cars and heavy commercial vehicles, is likely to favor the expansion of tire testing machine market.
Competitive Landscape
The key players operating in the global tire testing machine market include MTS Systems Corp, A&D Co. Ltd, Ametek Inc, ZF AG, Kobelco Corporation, Kokusai Co. Ltd and TMSI LLC. The market is highly competitive and it is driven majorly by supplier side and influenced by demand side trends. Both global and regional players play pivotal role to provide the most cost competitive solution for various end users including automotive, aerospace and largely tire manufacturers.
We Offer tailor-made Solutions to fit Your Requirements, Request Customization@ https://www.futuremarketinsights.com/customization-available/rep-gb-8680
Tire Testing Machine Market by Segments
Machine Type
Application
Operation
End-use
Region
Direct Purchase of this Report@ https://www.futuremarketinsights.com/checkout/8680
Top Reports Related To Testing Equipment Market Insights
Destructive Testing Market : destructive testing market grew by 4.8% year on year. Across the entire globe, the overall sales of equipment in destructive testing market is expected to surpass 355,908 units by 2031. As a result of soaring concerns pertaining to food safety and resultant integration of advanced technologies in production will enable growth in the market at 6% CAGR between 2021 and 2031.
Viscometers Market : FMI has predicted the market to rise at a healthy CAGR of 6.9%, surpassing a shipment of 51,000 units during the forecast period (2021-2031). Regionally, North America is expected to remain dominant, expanding at 6.4% CAGR over the course of the assessment period.
About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact
Future Market Insights
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
MARKET ACCESS DMCC Initiative
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
Report: https://www.futuremarketinsights.com/reports/tire-testing-machine-market
Press Release Source: https://www.futuremarketinsights.com/press-release/tire-testing-machine-market
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