The tire carousel demand is expected to be valued at US$ 2.46 Bn in 2022, Forecast to grow at a CAGR of 4.2% to be valued at US$ 3.8 Bn from 2022 to 2032.
| Report Attributes | Details |
| Tire Carousel Market Estimated Base Year Value (2021) | US$ 2.35 Bn |
| Tire Carousel Market Value in 2022 | US$ 2.46 Bn |
| Tire Carousel Market CAGR | 3.2% |
| Value of Tire Carousel Market Anticipated Market Value (2032) | US$ 3.8 Bn |
In recent days there has been a major shift in the total purchase of personal cars and commercial vehicles around the world.
The rising number of vehicles in every type of economy has led to innovations in handling automotive and its parts as well. With the need for creating safer working environments in the automotive manufacturing and recycling workplaces, the demand for tire carousels is growing at a higher rate than ever before.
The sale of tire carousel is expected to rise in coming years in order to increase the storage space coupled with a rise in demand for safety in stocking & retrieving working environment.
These tire carousels are known for storing a large number of tires of many sizes safely, significantly increasing the capacity of tire manufacturers and recycling units.
Moreover, these tire carousel eliminate the dangers associated with working on retrieving and stocking tires. The tire carousel delivers tires straight to the workers replacing the need for hazardous equipment such as forklifts and ladders. The higher safety features provided in fully automated tire carousels is predicted to make it the most preferred choice among all the other products of the global tire carousel market.
Manufacturers are innovating in their product technology to sustain the tire carousel market share. Most of the dealers are now opting for automatic carousels within their parts departments that in turn will drive the sale of tire carousel market in this particular segment of products.
Automotive manufacturers and dealership departments share a common challenge in terms of storage, distribution and sales of parts.
To overcome these problems, many manufacturers are taking advantage of automated tire carousel systems to significantly improve customer satisfaction and achieve significant overall profit margins from both their service and parts departments.
Likewise, increasingly stringent legislation (OSHA) and demand for safe and secure inventory are pushing distributors in the automotive industry to adopt lean inventory and logistics models.
Automotive industries are looking at each & every possible way of cost optimization. This, in turn, augments the demand for tire carousels in the global market.
The Asia Pacific is observing an increase in the automotive fleet, initiating from countries such as China, South Korea, Japan, Malaysia, Indonesia and Taiwan.
This burgeoning market demand for tire carousels can be attributed to stricter regulations for employee safety, rising labour costs and the necessity to improve accuracy with a better command of processes.
The distributors/manufacturers in the Asia Pacific region are trying to compete with the automated and advanced industries in North America and Europe.
To gain the advantage in the sale of tire carousels over other regions, most of the countries in this region are implementing the strategy of improving productivity and cutting long-term functional costs by switching to entirely automated solutions.
The automotive industry is experiencing enormous growth, owing to the increasing demand from the aftermarket in the region. The Asia Pacific tire carousel market is anticipated to overcome the combined revenues of Europe and North America by 2029 and make it the most attractive region for the sale of tire carousels in future.
Some of the leading tire carousel manufacturers that are the major players of the global tire carousel market include Stanley Black & Decker (Lista), Dexion, Vindir (Vertical Storage Solutions), Kardexremstar, Kenda Tire, Remco Equipment, Tarmell Equipment Company, Felix Loeb, AS/R Systems, Inc., Donnegan Systems Inc., and MSK Canada.
Most of the market players are adopting sustainable methods of tire carousel manufacturing as a marketing strategy for environmentally concerned customers. The Industrial units are also adopting mergers and acquisitions to expand the production capacity and sale of tire carousel in the market.
· Lista International Corporation announced a new automated tire carousel that will take tire storage for the automotive industry to the next level of productivity.
· Stanley Vidmar launched a fully motorized tire carousel that allows operators to rotate the carrier frames, find the desired tire sets, and remove the tire safely to the floor with a single push of a button.
| Report Attribute | Details |
| Growth Rate | CAGR of 4.2% from 2022 to 2032 |
| Base Year of Estimation | 2021 |
| Historical Data | 2014-2020 |
| Forecast Period | 2022-2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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| Customization scope | Available Upon Request |
| Pricing and Purchase Option | Avail Customized purchase options to meet your exact research needs.< |
The tire carousel market is forecasted to register a CAGR of 4.3% during the forecast period.
The leading players in the global tire carousel market shares include Stanley Black & Decker (Lista), Dexion, Vindir (Vertical Storage Solutions), Kardexremstar, Kenda Tire, Remco Equipment, Tarmell Equipment Company, Felix Loeb, AS/R Systems, Inc., Donnegan Systems Inc., and MSK Canada.
Demand for optimizing maximum space area in automotive manufacturing and recycling units is expected to rise the demand for tire carousels during the forecast years and later days.
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