Global Automotive Tire Mold Industry (2020 to 2027) – Market Trajectory & Analytics
October 8, 2020
The “Automotive Tire Mold – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
The publisher brings years of research experience to the 5th edition of this report. The 273-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Global Automotive Tire Mold Market to Reach US$2.2 Billion by the Year 2027
Amid the COVID-19 crisis, the global market for Automotive Tire Mold estimated at US$1.6 Billion in the year 2020, is projected to reach a revised size of US$2.2 Billion by 2027, growing at a CAGR of 3.9% over the period 2020-2027.
Segmented Molds, one of the segments analyzed in the report, is projected to grow at a 4.1% CAGR to reach US$1.7 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Two-Piece Molds segment is readjusted to a revised 2.9% CAGR for the next 7-year period. This segment currently accounts for a 20.8% share of the global Automotive Tire Mold market.
The U.S. Accounts for Over 28.9% of Global Market Size in 2020, While China is Forecast to Grow at a 6.3% CAGR for the Period of 2020-2027
The Automotive Tire Mold market in the U.S. is estimated at US$476.1 Million in the year 2020. The country currently accounts for a 28.86% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$373.5 Million in the year 2027 trailing a CAGR of 6.3% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.3% and 3.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.9% CAGR while Rest of European market (as defined in the study) will reach US$373.5 Million by the year 2027.
Competitors identified in this market include, among others: