Future Market Insights introduces its new report titled ‘Retread Tires Market: Global Industry Analysis (2013 – 2017) and Opportunity Assessment 2018 -2028.
In the report, Future Market Insights states the long-term outlook of the global retread tires market remains positive and the market value is expected to increase at a CAGR of 4.6 percent during the forecast period (2018 – 2028). Among the end use segments of the retread tires market, the heavy commercial vehicles segment is expected to expand with a significant CAGR in terms of value as well as volume over the forecast period. The global sales of retread tires is estimated to be valued at $8.684 billion by the end of 2018. The China retread tires market is estimated to account for a value share of 29.6 percent in the global retread tires market by 2018 end and is anticipated to retain its dominance throughout the forecast period.
On the basis of vehicle type, the heavy commercial vehicle segment is anticipated to continue to dominate the global market in terms of value over the forecast period. The demand for retread tires in heavy commercial vehicles is estimated to grow at a relatively high CAGR as compared to other vehicle types over the forecast period. This segment is expected to represent a total incremental opportunity of $2,228 billion between 2018 and 2028, the report states.
For more information, and to download the report, please CLICK HERE.