The global tire testing market is expected to experience significant growth during the forecast period of 2023-2027, according to a report by TechSci Research titled “Tire Testing Market – Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027”. Tires are crucial for enabling automobiles to move from one location to another, and they must be able to withstand various weather and road conditions, as well as long distances. Tire testing machines are equipped with dynamic capabilities that allow for the measurement of the extent of wear and tear on tires. The growth of the global tire testing market is expected to be driven by an increased focus on efficient tire performance, adherence to safety requirements, and compliance with regulatory frameworks aimed at ensuring the safety of highways.
To introduce new tires to the market, tire manufacturers must conduct research and development activities that include product innovation, technological advancements, patent filing, and tire testing processes. The market’s major players are making significant efforts to improve tire testing capabilities, enhance performance, and accelerate output to boost market growth. Furthermore, these companies are actively forming partnerships with automobile manufacturers and original equipment manufacturers to expand their customer base and improve product value, thereby fueling market growth.
The United States is a significant market for tire testing machines due to the presence of major market players that serve the automotive OEMs, tire manufacturers, and aircraft industry. Additionally, the country has strict regulatory requirements, such as the FMVSS 119, which is based on the National Highway and Traffic Safety Administration (NHTSA), that are creating growth opportunities for the market. However, existing tire testing machine industries must be upgraded to meet current requirements, which can be a costly process for tire testing companies and may restrain the growth of the global tire testing market in the forecast period.
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.
About TechSci Research:
TechSci Research is a research based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and an increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.
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