According to a study by Future Market Insights (FMI), the tire testing machine market is poised to grow from USD 467.7 million in 2021 to an estimated USD 730.8 million by 2031, driven by rising tire production and increasing automobile sales. This growth, occurring at a projected CAGR of 4.6% from 2021 to 2031, reflects a strong demand for tire durability and performance assessments.
Tire testing machines are essential for evaluating tire wear and ensuring compliance with strict safety and efficiency standards, which are key factors in market expansion. Additionally, these machines are widely utilized in the aerospace and defense sectors.
While the COVID-19 pandemic initially reduced demand, especially across North America, Europe, and Asia-Pacific, the market is expected to recover as end-use industries rebound. Testing applications for four-wheeler tires, which account for over 30% of market demand, are set to continue driving growth through the forecast period.
Key Takeaways of Tire Testing Machine Market Study
- Despite significant drop in sales amid COVID-19, recovery is on card as FMI projects growth at positive pace 2021 onwards
- Rising vehicle production will support growth as U.S. continues to lead North America market with a dominant share of more than 78% in 2021
- Increasing focus on vehicular safety will stoke expansion in the U.K., enabling y-o-y growth at above 3% in 2021
- Germany and France will enjoy spotlight among leading markets in Europe
- Recovery of automotive sales post COVID-19 outbreak will support sales in China, as Japan and India remain other key markets in Asia Pacific
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.
Tire Testing Machine Market by Segments
Machine Type
- Flat Belt Tire Testing Machine
- Rolling Resistance Testing Machine
- Dynamic Contact Testing Machine
- Tire Balancing Machine
- Drum Tire Testing Machine
- Endurance Testing Machine
- 2 Position
- 4 Position
- Endurance + High Speed Testing Machine
- Tire Force & Moment Measurement Systems
- Plunger Test & Bead Unseating Test machine
- Tire Stiffness & Footprint Measurement machine
- Tire Tread Wear Simulation Systems
- Run Flat tire Durability Tester
- Load Tester
- Uniformity Tester
Application
- Two Wheelers Tire Testing Machine
- Four Wheelers Tire Testing Machine
- Passenger Cars Tire Testing Machine
- Motorsports Tire Testing Machine
- Heavy Commercial Vehicles Tire Testing Machine
- Industrial & Off-road vehicles Tire Testing Machine
- Aircraft Tire Testing Machine
- Defence Vehicles Tire Testing Machine
Operation
- Automatic Tire Testing Machine
- Manual Tire Testing Machine
End-use
- Automotive
- OEMs
- Repair & Maintenance Service Stations
- Tire Dealers & Specialty Shops
- Aerospace
- Tire Manufacturers
- Other Testing, Research & Certification Agencies
Region
- North America
- Latin America
- Europe
- Asia-Pacific
- Middle East & Africa
Report Preview: https://www.futuremarketinsights.com/reports/tire-testing-machine-market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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