A recent Tire Retreading Market research conducted by HTF MI provides data on the scope of the tire industry and presents market forecast up for the coming 5 years looking at big players such as Bridgestone, Continental, Goodyear Tire & Rubber Company, Marangoni, Michelin and many others.

According to the forecasts, the United States will witness expansion of the tire retreading market of 13,55% (CAGR) till 2021.

The study also says that the retreading of tires is currently 40% cheaper than the purchase of new tires – this competitive cost factor is claimed to become the key driving force that will favorably influence the market.

In addition, the study sheds light on market size, as well as on the ongoing situation in the industry and how it may change. It also provides details on who the main competitors are, and what opportunities for the expansion currently exist.

Tire retreading report separately looks at each region, company and end-use industries.

The study claims that the strength of the retread is the longer service of rubber which results in lower retail prices of tires.

Additionally, the study notes that a number of taxes and federal fees are not imposed on retreads.

What is also noteworthy, big tire retread companies guarantee high quality of their products.

The research also sheds light on market size, the ongoing situation in the industry and how it may change, who are the main competitors and what opportunities for expansion currently exist.

The full report is available at HTF Market Intelligence.

Article by Industry Today