Tire Bead Wire Market is expected to reach USD 2.5 billion by 2030 : Cognitive Market Research

Market Overview:
- Steel wire used to make tire beads is known as tire bead wire. Most of the time, it is composed of high-carbon steel, which gives it the strength and flexibility needed to handle the forces placed on tires during use. Bead wire is typically formed in coils, which are then cut to length and formed into loops that are joined or otherwise attached to the tire bead. The wire is then protected with a rubber compound and vulcanized to form the ended bead. Bead wire for tires is available in different grades, diameters, and finishes to meet the specific requirements of the tire industry.

Summary
• The Global Tire Bead Wire Market size reached USD 1.2 billion in 2022 in 2022 and will reach USD 2.5 billion by 2030, growing at a CAGR of 8.3% from 2023 to 2030.
• North America region is forecasted to dominate the growth of the global tire bead wire market with the highest revenue share.

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Market Dynamics:
- An increase in industrialization and urbanization, along with growth in customer interest in sports vehicles, racing automobiles, and bikes are likely to dominate the global tire bead wire market. As a result, growth in the sales of passenger cars and commercial vehicles in both developed and developing economies boost the demand for the global market. Furthermore, technological advancement in the tire bead wire market provides an opportunity for the global market.
However, the high cost of tire bead wire may impede the growth of the global tire bead wire market. This is attributed to the fact that high-quality materials and qualified specialists are required to manufacture the products.

Market Segmentation:
Type
• High Tensile Strength (Above 2200)
• Regular Tensile Strength (1770-2200 MP)
• Others
As per Cognitive Marker Research Analyst, the regular tensile strength (1770-2200 MP) segment dominates the global tire bead wire market with the highest revenue share. This is attributed to regular tensile strength measures the maximum stress that a tire can withstand before degradation.

Application
• Motorcycle Tire
• Bicycle Tire
• Passenger Vehicle Tire
• Commercial Vehicle Tire
• Others
By application, the passenger vehicle tire segment dominates the global tire bead wire market in terms of growth rate. This is attributed to the increasing global population, growing transportation activities, and rise in passenger car sales dominating the global market demand.

The Major Players in Tire Bead Wire Market are:
AARTI STEELS LIMITED, Jiangsu Xingda Steel Tyre Cord Co.Ltd, Rajratan Global Wire Ltd, shanghai metal corporation, Tianjin Bladder Technology Co.Ltd., Bekaert, HBT RUBBER INDUSTRIAL CO. LTD, kiswire inc., Shandong Daye, SNTAI INDUSTRIAL GROUP LTD

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Regional Analysis:
- North America has the highest revenue share in the global tire bead wire market.
North America region is forecasted to dominate the growth of the global tire bead wire market with the highest revenue share. This is attributed to the presence of major market players, an increase in research and development activities with the tire bead wire drives the demand for the target market. Furthermore, Asia Pacific is forecasted to dominate the target market in terms of growth rate. This is attributed to the growing demand for vehicles, rise in transportation activity, increase in disposable income, and shift in consumer preference for the automobile industry dominating the growth of the global market in the country in the region.

Tire Bead Wire Market News
• Bekaert Lipetsk (Russia) announced a plant expansion of bead wire.
In June 2021, Bekaert Lipetsk (Russia) announced a plant expansion that included a new production line (bead wire) and increased capacity for tyre lead manufacture.

Browse here for Full TOC:
Table of Content (Revenue USD Edition), (Enquire about Volume/Consumption Edition Data)
Chapter 1 Industrial Insight and Market Scope
• 1.1 Global Tire Bead Wire Industry Introduction
• 1.2 Objectives of the Study
• 1.3 USP of the Report
• 1.4 Who is this report for?
• 1.5 Designing of Market Scope
1.5.1 Tire Bead Wire Market Segmentation
1.5.1 Tire Bead Wire Market Regional Fragmentation
1.5.1 Tire Bead Wire Market Players
• 1.6 Report Duration
• 1.7 List of Stakeholders
Chapter 2 Research MethodologyReview Complete Research Methodology
Chapter 3 Executive Summary of Tire Bead Wire Market
Chapter 4 Global Tire Bead Wire Market Overview
Chapter 5 Competitive Analysis (Subject to Availability)
Chapter 6 Environmental, Social, and Governance (ESG) Analysis
Chapter 7 Qualitative Analysis
Chapter 8 Company Profiling (Subject to Availability)
Chapter 9 Global Tire Bead Wire Market by Type Segmentation Analysis (2018-2030)
Chapter 10 Global Tire Bead Wire Market by Application Segmentation Analysis (2018-2030)
Chapter 11 Global Tire Bead Wire Market Regional Analysis
Chapter 12 North America Tire Bead Wire Market Outlook (2018 - 2030)
Chapter 13 Europe Tire Bead Wire Market Outlook (2018 - 2030)
Chapter 14 Asia Pacific Tire Bead Wire Market Outlook (2018 - 2030)
Chapter 15 Latin America Tire Bead Wire Market Outlook (2018 - 2030)
Chapter 16 Middle East and Africa Tire Bead Wire Market Outlook (2018 - 2030)
Chapter 17 Research Findings
Customize the Report Edition (Is applicable, On Request, Subject to Data Available, At an Additional Cost)

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