IMARC Group, a leading market research company, has recently releases report titled, “United States Tire Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The study provides a detailed analysis of the industry, including the United States tire market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the United States tire market?
| Report Attributes | Details |
| Market Size in 2022 | 344.7 Million Units |
| Market Forecast in 2028 | 402.1 Million Units |
| Growth rate (2023 to 2028) | CAGR of 2.7% |
| Base Year of the Analysis | 2022 |
| Forecast Period | 2023-2028 |
What is United States tire?
Tires play a crucial role in vehicles as they are essential components made of rubber, designed to be inflated and mounted onto the outer edge or rim of the wheel. They provide the necessary traction and enable smooth movement of the vehicle on the road. Tires are typically manufactured using materials such as steel wires, fabric, synthetic rubber, carbon black, silica, and vulcanization accelerator. In addition to facilitating friction, they also enhance shock absorption and reduce vibrations during driving. Currently, tires are gaining significant prominence in the automotive and transportation industries in the United States due to their numerous benefits. These benefits include providing effective braking forces to the surface, distributing the weight of the vehicle evenly on the road, ensuring stable direction of travel, and improving the vehicle’s landing capabilities.
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What are the growth prospects and trends in the United States tire industry?
The tire market in the United States is experiencing significant growth primarily due to the increasing vehicle production. Furthermore, the rising demand for luxury, passenger, and electric vehicles, driven by growing consumer disposable incomes and rapid urbanization, is positively impacting the market. Additionally, the U.S. Federal Government’s support in promoting eco-friendly and sustainable manufacturing techniques to address environmental concerns has further fueled market growth. Moreover, key players in the industry are focusing on tire recovery and recycling initiatives to conserve energy and resources, contributing to market expansion. Other factors, such as the increasing logistics and transportation activities for package delivery, the growing agricultural sector, and the rapid growth of the automobile industry, are also expected to drive the market forward.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Design:
- Radial
- Bias
Breakup by End-Use:
- OEM
- Replacement
Breakup by Vehicle Type:
- Passenger Cars
- Market Breakup by Rim Size
- Market Breakup by Tire Size
- Price Ranges by Rim Size
- Light Commercial Vehicles
- Market Breakup by Rim Size
- Market Breakup by Tire Size
- Price Ranges by Rim Size
- Medium and Heavy Commercial Vehicles
- Market Breakup by Rim Size
- Market Breakup by Tire Size
- Price Ranges by Rim Size
- Two Wheelers
- Market Breakup by Rim Size
- Market Breakup by Tire Size
- Price Ranges by Rim Size
- Three Wheelers
- Market Breakup by Rim Size
- Market Breakup by Tire Size
- Price Ranges by Rim Size
- Off-The-Road (OTR)
- Market Breakup by Rim Size
- Market Breakup by Tire Size
- Price Ranges by Rim Size
Breakup by Distribution Channel:
- Offline
- Online
Breakup by Season:
- All Season Tires
- Winter Tires
- Summer Tires
Breakup by Region:
- Northeast
- Midwest
- South
- West
Competitive Landscape:
- The competitive landscape of the industry has also been examined along with the profiles of the key players.
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