9 Jun 2024
The ERJ Tire & Rubber Machinery Survey 2024 identifies return to strong growth for equipment manufacturers worldwide
After the generally flat sales trends seen last year, respondents to the ERJ Tire & Rubber Machinery Survey 2024 registered an overall return to strong growth in markets worldwide.
Total sales among respondents replying to the survey both this year and last came in at $3,712 million, representing a year-on-year increase of 18.6% – compared to just 1% and 20% in ERJ’s 2023 and 2022 surveys respectively.
The rebound recorded in this year’s survey was despite continuing challenges linked to global geopolitical and trade tensions, such as the crises in the Middle East and Red Sea and Russia’s continuing war on Ukraine.
Analysis shows that the positive trends, in part, reflect developments in China: sales of Chinese-based rubber machinery manufacturers increased by 12% year-on-year to $1,605 million.
Based on data provided by the Chinese Rubber Machinery Manufacturers Association, the figures compare to a decline of 3% reported last year, partly due to lingering effects of Covid restrictions in China.
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