maintenance, which helps to reduce overall operational and maintenance cost. Therefore, all
these factors contribute to growth of the tire curing press machine market over the forecast
period.
However, lack of awareness among the manufacturer about the benefits of tire curing press
machine is one of the factors hampering growth of the tire curing press machine market.
Global Tire Curing Press Machine Market: Segment Trends
Among product type, the hydraulic tire curing press machine segment is expected witness
significant growth with highest CAGR over the forecast period. The hydraulic tire curing press
machine offers smoother operation as compared to mechanical tire curing press machine, as it
generates less noise during curing process. Moreover, the press is easy to operate, requires low
maintenance cost, and less space as compared to mechanical tire curing press machine.
Therefore, these factors are propelling demand for hydraulic tire curing press machine segment
in the market over the forecast period.
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https://www.coherentmarketinsights.com/ongoing-insight/tire-curing-press-machine-market-2166
Global Tire Curing Press Machine Market: Regional Insights
The global tire curing press machine market in Europe accounted for the largest market share
in 2017, and expected to retain its dominance over the forecast period. This is owing to the
presence of key manufacturers such as Lanxess, Evonik Industries AG, Continental Tire AG in the
region, especially in Germany. Moreover, stringent government rules and regulation for
reducing greenhouse emission from vehicles is one of the major factors responsible for
increasing production of green tire in Europe. For instance, in April 2009, the European
government passed EU Regulation No 443/2009, which states that an average CO 2 emission for
new passenger cars is 130 grams per kilometer and is expected to be reduced to 95 grams per
kilometer by 2021. Moreover, in November 2017, the EU set an emissions target for 2020, which
is 147 gram of Co 2 per kilometer for light commercial vehicles. Silica and Nano materials are
used for manufacturing green tires. According to a report published by SciELO, 2017, use of silica
and Nano materials results in 20% reduction in rolling resistance of the tire, which in turn lowers
greenhouse gas emission. Increase production of green tires, which in turn is propelling demand
for tire curing press machine in Europe.