According to “Global Retread Tire Market By Vehicle Type, By Retread Process, By Region, Competition, Forecast & Opportunities, 2023” retread tire market is forecast to more than $ 11.5 billion by 2023. Though the market witnessed a slight decline during 2013-2017, owing to growing penetration of cheaper Chinese tire, retread tire sales are expected to recover in the coming years backed by growing consumer acceptance of retread tires and rising prices of new tires. Moreover, growing sales of commercial vehicles on account of rising infrastructure development and construction activities across the globe is further anticipated to push demand for retread tires, globally.
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