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Africa Retreaded Tire Market
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Africa Retreaded Tire Market

Home Automotive And Transportation Africa Retreaded Tire Market

Africa Retreaded Tire Market, By Tire Type (Radial, Bias, Solid); By Process (Pre-Cure, Mold-Cure); By Vehicle Type (Two-Wheeler Vehicles, Passenger Vehicles, Commercial Vehicles (CVs), Off-the-Road (OTR) Vehicles), Trend Analysis, Competitive Landscape & Forecast, 2019–2030

  • Published Date: May 2024
  • Report ID: BWC24359
  • Available Format: PDF
  • Page: 300

Report Overview

An increasing focus on eco-friendly practices and a spurring demand for retread tires for light commercial vehicles (LCVs) are expected to boost the growth of Africa Retreaded Tire Market during the forecast period between 2024 and 2030.

Africa Retreaded Tire Market - Industry Trends & Forecast Report, 2030

The Africa Retreaded Tire Market size was estimated to be worth USD 1.78 billion in 2023. During the forecast period between 2024 and 2030, the Africa Retreaded Tire Market size is projected to grow at a CAGR of 6.15%, reaching a value of USD 2.59 billion by 2030.

Africa Retreaded Tire Market

By volume, the Africa Retreaded Tire Market size was estimated at 1.3 million units in 2023. During the forecast period between 2024 and 2030, the Africa Retreaded Tire Market size is expected to expand at a CAGR of 6.87%, reaching a volume of 2.5 million units by 2030.

Africa Retreaded Tire Market Size

Major growth factors for the Africa Retreaded Tire Market include a rising focus on the adoption of sustainable practices in the automotive sector and the rising demand for economic tires.

Retreaded Tire – Overview

Retread tires, often referred to as recap tires or remolded tires, are used tires that have had their worn tread replaced with fresh tread through a remanufacturing process, which helps to prolong the tire's life. Retreading tires is common in many types of cars and is considered quite safe. They go through the same safety inspection as brand-new tires that are produced in factories. Retread tires that are properly cared for may save up to 30% on tires when compared to new ones. They also offer equal performance and mileage to quality new tires at a much cheaper cost, as well as the same durability and performance.

Africa Retreaded Tire Market

Growth Drivers

Growing Focus on Eco-Friendly Practices

Waste tires pose a threat to the environment because of their vast volume and sluggish rate of decomposition. When they build up in landfills or are illegally disposed of, they can cause visual pollution and even pose health concerns. Consequently, retreading tires is becoming a viable and environmentally responsible way to address the rising tire waste in Africa. Tire retreads lessen landfill trash and energy use, which contributes to environmental protection, according to Thompson Tire & Retread. The rising focus on sustainable environmental practices in the automotive industry is providing lucrative growth opportunities to the Africa Retreaded Tires Market.

Challenges

Limited Infrastructure

Africa currently has no sufficient recycling infrastructure to handle all the second-hand tires that are being sold in the region. It could pose a major restraint on the growth of the Africa Retreaded Tire Market. An estimated 1.5 to 2 million used tires are sold in South Africa alone; 750,000 to 900,000 of them are either unlawful or unsafe for usage on public roads. The lack of proper waste tire management plan may limit the tire retreading in the region, limiting the overall market growth.

Africa Retreaded Tire Market

Segmental Coverage

Africa Retreaded Tire Market – By Tire Type

Based on tire type, the Africa Retreaded Tire Market is segmented into radial, bias, and solid. The radial tire segment holds the largest share in the Africa Retreaded Tire Market. The market demand for radial tires is high and strong, as they provide a smoother and more comfortable ride compared to their counterparts. Furthermore, radial tires are also fuel-efficient and have a longer lifespan, which contributes to their market growth.

Africa Retreaded Tire Market – By Process

Based on process, the Africa Retreaded Tire Market is segmented into pre-cure and mold-cure. The pre-cure retreading process segment accounts for a higher market share. The growth of the segment is mainly attributed to cheaper investment costs and follow-up expenditures relative to the mold curing process, which is anticipated to drive its market growth during the forecast period.

Africa Retreaded Tire Market Share

Africa Retreaded Tire Market – By Vehicle Type

Based on vehicle type, the Africa Retreaded Tire Market is segmented into two-wheeler vehicles, passenger vehicles, commercial vehicles (CVs), and off-the-road (OTR) vehicles. The commercial vehicles segment dominates the Africa retreaded tire market. The growth in the e-commerce and logistics industries, along with expanding investment in infrastructure development projects, is fueling the demand for commercial vehicles in the region. As a result, the demand for retreaded tires is growing among both OEMs and aftermarkets.

Competitive Landscape

Major players operating in the Africa Retreaded Tire Market include Goodyear Tire and Rubber Co., Continental AG, Bridgestone Corporation, Michelin, Oliver Tyre Group, Harry's Tyres SA, Auto & Truck Tyres (ATT), and Safari Tyres.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

Attributes

Details

Years Considered

Historical Data – 2019–2023

Base Year – 2023

Estimated Year – 2024

Forecast Period – 2024–2030

Facts Covered

Revenue in USD Billion

Product/ Service Segmentation

Tire Type, Process, Vehicle Type

Key Players

Goodyear Tire and Rubber Co, Continental AG, Bridgestone Corporation, Michelin, Oliver Tyre Group, Harrys Tyres SA, Auto & Truck Tyres (ATT), Safari Tyres

 

By Tire Type

  • Radial

  • Bias

  • Solid

By Process

  • Pre-Cure

  • Mold-Cure

By Vehicle Type

  • Two-Wheeler Vehicles

  • Passenger Vehicles

  • Commercial Vehicles (CVs)

  • Off-the-Road (OTR) Vehicles

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. Africa Retreaded Tire Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Growing Focus on Eco-Friendly Practices
        2. Rising Demand for Cost Effective & Economical Tires
        3. Rising Demand for Retread Tire in Light Commercial Vehicle
      2. Restraints
        1. Increasing Quality Concerns
        2. Limited Infrastructure
        3. Initial Investment Costs
      3. Opportunities
        1. Improvements in Retreading Technology
        2. Expanding Logistics and Freight
      4. Challenges
        1. Competition from Low-Cost New Tires
        2. Availability of Retreadable Casings
    3. Technological Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. Africa Retreaded Tire Market: Marketing Strategies
  5. Africa Retreaded Tire Market: Pricing Analysis
  6. Africa Retreaded Tire Market Overview
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
      2. By Volume (Million Units)
    2. Market Share & Forecast
      1. By Tire Type
        1. Radial
        2. Bias
        3. Solid
      2. By Process
        1. Pre-Cure
        2. Mold-Cure
      3. By Vehicle Type
        1. Two-Wheeler Vehicle
        2. Passenger Vehicle
        3. Commercial Vehicle
        4. Off Road Vehicle
  7. Competitive Landscape
    1. List of Key Players and Their Products
    2. Africa Retreaded Tire Company Market Share Analysis, 2023
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
  8. Impact of Escalating Geopolitical Tensions on Africa Retreaded Tire Market
  9. Company Profiles (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook, and SWOT Analysis)
    1. Goodyear Tire and Rubber Co
    2. Continental AG
    3. Bridgestone Corporation
    4. Michelin
    5. Oliver Tyre Group
    6. Harrys Tyres SA
    7. Auto & Truck Tyres (ATT)
    8. Safari Tyres
    9. Other prominent players
  10. Key Strategic Recommendations
  11. Research Methodology
    1. Qualitative Research
      1.  Primary & Secondary Research
    2.    Quantitative Research
    3.    Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
    4.    Breakdown of Primary Research Respondents
    5.    Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

 

List of Figures

 

Figure 1       Africa Retreaded Tire Segmentation

Figure 2       Africa Retreaded Tire Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2023

Figure 4       Africa Retreaded Tire Market Size, By Value (USD Billion), 2019–2030

Figure 5       Africa Retreaded Tire Market Size, By Volume (Million Units), 2019–2030

Figure 6       Africa Retreaded Tire Market Share, By Tire Type, By Value (USD Billion), 2019–2030

Figure 7       Africa Retreaded Tire Market Share, By Tire Type, By Volume (Million Units), 2019–2030

Figure 8       Africa Retreaded Tire Market Share, By Process, By Value (USD Billion), 2019–2030

Figure 9       Africa Retreaded Tire Market Share, By Process, By Volume (Million Units), 2019–2030

Figure 10     Africa Retreaded Tire Market Share, By Vehicle Type, By Value (USD Billion), 2019–2030

Figure 7       Africa Retreaded Tire Market Share, By Vehicle Type, By Volume (Million Units), 2019–2030                              

 

List of Tables      

 

Table 1        Africa Retreaded Tire Market Size, By Value (USD Billion), 2019–2030

Table 2        Africa Retreaded Tire Market Size, By Volume (Million Units), 2019–2030

Table 3        Africa Retreaded Tire Market Share, By Tire Type, By Value (USD Billion), 2019–2030

Table 4        Africa Retreaded Tire Market Share, By Tire Type, By Volume (Million Units), 2019–2030

Table 5        Africa Retreaded Tire Market Share, By Process, By Value (USD Billion), 2019–2030

Table 6        Africa Retreaded Tire Market Share, By Process, By Volume (Million Units), 2019–2030

Table 7        Africa Retreaded Tire Market Share, By Vehicle Type, By Value (USD Billion), 2019–2030

Table 8        Africa Retreaded Tire Market Share, By Vehicle Type, By Volume (Million Units), 2019–2030                              

Table 9        Goodyear Tire and Rubber Co Company Overview

Table 10      Goodyear Tire and Rubber Co Financial Overview

Table 11      Continental AG Company Overview

Table 12      Continental AG Financial Overview

Table 13      Bridgestone Corporation Company Overview

Table 14      Bridgestone Corporation Financial Overview

Table 15      Michelin Company Overview

Table 16      Michelin Financial Overview

Table 17      Oliver Tyre Group Company Overview

Table 18      Oliver Tyre Group Financial Overview

Table 19      Harrys Tyres SA Company Overview

Table 20      Harrys Tyres SA Financial Overview

Table 21      Auto & Truck Tyres (ATT) Company Overview

Table 22      Auto & Truck Tyres (ATT) Financial Overview

Table 23      Safari Tyres Company Overview

Table 24      Safari Tyres Financial Overview

Market Segmentation

No data available
No data available

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Frequently Asked Questions (FAQs):

Ans: The Africa Retreaded Tire Market size was estimated at USD 1.78 billion in 2023.
Ans: The Africa Retreaded Tire Market size is expected to grow at a CAGR of 6.15% during the forecast period between 2024 and 2030.
Ans: The Africa Retreaded Tire Market size is forecast to reach a value of USD 2.59 billion by 2030.
Ans: Major factors driving the growth of the Africa Retreaded Tire Market include growing focus on eco-friendly practices and rising demand for retread tire in light commercial vehicle.
Ans: Africa Retreaded Tire Market size by volume was estimated at 1.3 million units in 2023.
Ans: By volume, Africa Retreaded Tire Market size is expected to grow at a CAGR of 6.87% during the forecast period between 2024 and 2030.
Ans: Africa Retreaded Tire Market size by volume is expected to reach 2.5 million units by 2030.
Ans: The radial segment holds the highest market share in the Africa Retreaded Tire Market by tire type.
Ans: The pre-cure segment is expected to grow at the highest CAGR in the Africa Retreaded Tire Market during the forecast period between 2024 and 2030.