The Global Connected Tires Market Size was Valued at USD 7.93 Million in 2023 and the Worldwide Connected Tires Market Size is Expected to Reach USD 311.73.
This article looks at how WBCSD's Tire Industry Project (TIP) is revolutionizing the tire industry's approach to sustainability. It explores TIP's mission to address environmental and social challenges throughout the tire lifecycle, from raw material extraction to end-of-life management.
The ups and downs of European retreading continued last year. According to current figures from the European Tire & Rubber Manufacturers' Association (ETRMA), the association members retreaded and marketed a total of 4.298 million truck tyres in Europe (excluding Turkey) in 2022. This corresponds to a decline of at least 6.2 per cent compared to the previous year, but is still 4.9 per cent above the figures for the previous year. However, since the new tyre business of the ETRMA members was largely stable (down 0.5 per cent), the importance of retreaded truck tyres fell again significantly compared to the new tyre market and was only 37.2 per cent at the end of last year. The association's figures also show something else very clearly: the EU tariff effect, which had reduced imports of truck tyres (by non-ETRMA members) for a number of years, has now completely fizzled out.
Tire-makers are under pressure to reinvent the wheel as regulators focus on tire pollution that is set to surge with the rise of electric vehicles (EVs).