There are many catalytic factors in the original equipment (OE) tire market, including: increased demand for low rolling resistance tires, improved fuel efficiency and economic efficiency, demand for high-performance tires, advances in smart tires, and environmental protection tires, etc. Vehicle life regulations, etc. "Light commercial vehicles have become the fastest growing sector in the tire retreading market." According to the Rubber Manufacturers Association, light truck retreading accounts for only 1.67% of the tire aftermarket. Tyre retreading has always been a common practice for heavy commercial vehicles, but over time, light commercial vehicles have also found many of them convenient. For light vehicles, a single tire makes an average of 26.4 liters of oil, while the same tire only consumes 9 liters of oil after refurbishment. On the other hand, the tire cost of a large 4-wheel SUV is about $1,000, and if it is only refurbished, it can save nearly 50% of the cost. Some tire manufacturers have also begun to notice the importance of refurbishing operations, such as Goodyear, which has a total of more than 1,700 commercial vehicle tire retreading and service centers. “Asia and Oceania will become the fastest growing areas in the tire market.†The growth in Yahya is mainly attributed to the rapid automobile production in countries such as China, India, and South Korea. Increased per capita income, increased infrastructure spending, attractive foreign direct investment by the government, economic production costs, and loose environmental regulations are all conducive to increasing production of automobiles. In addition, due to improvements in road infrastructure, consumers’ increased awareness of vehicle maintenance and stringent fuel economy regulations have had a positive impact on the replacement tire market. Major participants in the tire market include: Bridgestone (Japan), Continental Group (Germany), Goodyear (USA), Michelin (France) and Pirelli (Italy). Other key innovators include CODA Development (Czech Republic), Kumho Tire (Korea), and Nordic Tire (Finland). Construction Elevator,Double Cage Building Hoist,Elevator Using For Construction Site,Single Caged Construction Hoist Lift Fangyuan Group Co.,Ltd. , https://www.fygcorp.com
The global tire market will grow from 23.18 billion U.S. dollars in 2016 to 30.26 billion U.S. dollars in 2021. 
Asia and Oceania will become the fastest growing areas in the tire market
According to market research firm MarketsandMarkets, the global tire market will grow from 23.18 billion US dollars in 2016 to 30.26 billion US dollars in 2021, with a compound annual growth rate of 5.48%.