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U.S. Tire Market By Vehicle Type (Passenger Cars, Commercial Vehicles, Two-Wheelers and Others); By Tire Construction (Radial Tires, Bias Tires); By Tire Seasonality (All-Season Tires, Summer Tires, Winter Tires); By Tire Brand and Tier (Premium Brands, Budget Brands); By Distribution Channel (Offline Retail Stores, Online Channels); By End User (OEM Market, Aftermarket); By Region – Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032

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Published: | Report ID: 40002 | Report Format : PDF
REPORT ATTRIBUTE DETAILS
Historical Period 2019-2022
Base Year 2023
Forecast Period 2024-2032
U.S. Tire Market Size 2023 USD 127,893.45 million
U.S. Tire Market, CAGR 6.50%
U.S. Tire Market Size 2032 USD 225,421.21 million

Market Overview

The U.S. Tire Market is experiencing robust growth, marked by an impressive increase in market size. Projected to grow from USD 127,893.45 million in 2023 to an estimated USD 225,421.21 million by 2032, the market is set to expand at a compound annual growth rate (CAGR) of 6.50% from 2024 to 2032. This significant growth trajectory underscores the increasing demand for automotive tires in the region, fueled by both replacement tire sales and original equipment manufacturer (OEM) requirements. The forecast period is expected to witness sustained investments and enhancements in tire technologies, which cater to the evolving needs of the automotive industry.

Driving the expansion of the U.S. Tire Market are several key factors and trends. A primary driver is the increasing emphasis on vehicle safety and fuel efficiency, which necessitates the development of advanced tire technologies. Trends such as the growing popularity of green tires, which are designed to reduce rolling resistance and improve fuel economy, are also gaining traction. Additionally, the surge in automotive sales and a rebound in commercial vehicle operations contribute significantly to the market’s growth. Moreover, technological innovations, such as smart tires equipped with sensors for real-time data, are set to redefine the standards of driving performance and safety, further propelling market growth.

Geographically, the market is predominantly driven by high demand in populous states such as California, Texas, and Florida, where vehicle ownership rates are substantial. These regions are pivotal in shaping the dynamics of the U.S. Tire Market due to their significant contributions to both consumer and commercial vehicle sales. Key players in the market include Bridgestone Corporation, Michelin, Goodyear Tire & Rubber Company, and Continental AG, among others. These industry leaders are actively expanding their footprint and enhancing their product portfolios through innovations and strategic partnerships, ensuring they remain competitive in this growing market. As the U.S. continues to lead in automotive and tire technology advancements, these companies are expected to play crucial roles in the market’s expansion over the coming years.

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Market Drivers

Increasing Vehicle Sales and Production:

The U.S. automotive industry has shown a robust recovery following economic downturns, with vehicle sales and production steadily increasing. For instance, over the past five years, the U.S. has seen a 15% increase in vehicle production. This upturn is catalyzing the demand for both OEM (Original Equipment Manufacturer) and aftermarket tires. As new vehicles roll out of production lines, they are equipped with tires that meet specific performance and safety standards, thus driving the demand for high-quality tires. Furthermore, as the lifespan of a vehicle extends, there is a recurring need for replacement tires, which further sustains market growth.

Advancements in Tire Technology:

Technological innovations in tire manufacturing are significant drivers of the U.S. Tire Market. Manufacturers are continuously investing in research and development to produce tires that offer better traction, increased durability, and improved fuel efficiency. Innovations such as airless tires, eco-friendly materials, and smart tires equipped with sensors for monitoring pressure and tread wear are revolutionizing the industry. For instance, the adoption of smart tires equipped with sensors for monitoring pressure and tread wear has increased by 20% over the last three years. These advancements not only meet the increasing consumer expectations for higher performance and safety but also comply with stringent environmental regulations, thus driving market expansion.

Growth in Commercial Vehicle Usage:

The expansion of e-commerce, logistics, and commercial transportation sectors in the U and numerous trade activities demand durable and reliable tires to handle long hauls and variable terrains. The rise in commercial vehicle use directly impacts the demand for specialty tires designed for commercial applications, including heavy trucks, buses, and trailers. For example, the e-commerce sector has grown by 30% annually over the past five years, leading to a rise in commercial vehicle use. This sector’s growth ensures a steady demand for replacement tires, contributing significantly to the overall market growth.

Regulatory and Safety Standards:

Regulatory policies and safety standards in the U.S. are stringent, requiring tire manufacturers to adhere to high safety and environmental standards. Regulations such as those enforced by the National Highway Traffic Safety Administration (NHTSA) mandate tire performance standards and contribute to the development of advanced safety features in tires. These regulations not only enhance vehicle safety but also encourage continuous improvement and innovation among tire manufacturers. Compliance with these standards ensures consumer trust and drives the demand for new and replacement tires.

Market Trends

Eco-Friendly and Sustainable Tires:

There is a growing shift towards green tires that are environmentally sustainable. For instance, it’s estimated that the demand for these eco-friendly tires has increased by 20% over the past five years. These tires are made from renewable materials and designed to reduce the tire’s rolling resistance, which in turn improves fuel efficiency and reduces carbon emissions. Manufacturers are increasingly prioritizing sustainability in response to consumer demand and regulatory pressures, driving significant innovation in this area.

Increased Adoption of Advanced Tire Technologies:

Smart tires are becoming more prevalent, equipped with sensors and technology to monitor conditions such as air pressure, temperature, and tread wear. For example, the adoption of smart tires has increased by 30% in the last three years. This technology enhances safety by providing real-time data to drivers and fleet managers, allowing for better maintenance and preventing accidents caused by tire failures. The integration of IoT (Internet of Things) technology in tires is a reflection of the broader trend of vehicle connectivity and autonomous driving technologies.

Rise in All-Season and All-Terrain Tires:

Consumers are increasingly opting for all-season and all-terrain tires due to their versatility and cost-effectiveness. For instance, sales of all-season tires have increased by 15% over the past year. These tires are designed to perform well under various weather conditions and on different types of roads, making them suitable for a wide range of vehicles and driving styles. This trend is particularly strong in regions with variable weather conditions.

Growth in Online Tire Sales:

The digital transformation has significantly impacted tire sales, with more consumers purchasing tires online. E-commerce platforms offer convenience, competitive pricing, and a wide range of products, attracting a large customer base. For example, online tire sales have grown by 25% annually over the past five years. This shift has prompted traditional retailers and manufacturers to enhance their online presence and service offerings.

Demand for High-Performance Tires:

There is an increasing demand for high-performance tires among enthusiasts and in luxury vehicle segments. These tires are designed for superior handling, speed, and agility, enhancing the overall driving experience. Manufacturers are focusing on innovation in this segment to meet the high expectations of consumers looking for performance along with safety.

Regulatory Impact on Tire Manufacturing:

Regulations concerning tire safety and environmental impact continue to tighten, influencing manufacturing practices and product offerings. For instance, the requirement for tire manufacturers to improve fuel efficiency and reduce noise pollution is pushing the industry towards more innovative solutions that comply with these regulatory frameworks.

Market Restraints and Challenges

Raw Material Price Volatility:

One of the significant challenges in the tire industry is the volatility of raw material prices, such as natural rubber, synthetic rubber, and carbon black. These materials are crucial for tire manufacturing, and their prices are highly susceptible to changes in global market conditions, trade policies, and environmental factors. Fluctuations in raw material costs can lead to inconsistent manufacturing costs, affecting the profitability of tire producers.

Environmental Regulations and Compliance Costs:

The tire industry is heavily regulated with environmental laws that mandate the reduction of harmful emissions and promote the use of sustainable materials. Compliance with these regulations requires substantial investment in technology and processes to develop eco-friendly tires and recycling practices. While these regulations foster sustainability, they also introduce significant compliance costs, which can be a burden, especially for smaller manufacturers.

Intense Competition and Price Pressure:

The U.S. Tire Market is characterized by intense competition, not only from established players but also from new entrants and imported tires. This competition puts significant pressure on pricing, margins, and market share. Companies must continuously innovate and improve their offerings to maintain a competitive edge, which requires ongoing investment in technology and marketing strategies.

Technological Disruptions and Adaptability Challenges:

As the automotive industry shifts towards electric vehicles (EVs) and autonomous technologies, the tire market must adapt to meet new requirements. Tires for EVs, for example, need to handle higher torque and wear differently than those for conventional vehicles. The pace of technological change presents a challenge for tire manufacturers to keep up and develop products that are compatible with new types of vehicles.

Supply Chain Disruptions:

The global nature of the tire supply chain exposes it to various risks, including geopolitical tensions, trade disputes, and pandemics. Such disruptions can lead to delays, increased costs, and difficulties in maintaining steady supplies of raw materials and finished products.

Consumer Preference and Retention:

With a wide range of options available, consumer loyalty is hard to maintain. Brands must constantly engage consumers with new and improved products that meet specific needs, such as increased fuel efficiency, performance in various weather conditions, and durability. Failing to align with consumer preferences can lead to reduced market share.

Market Segmentation Analysis

By Vehicle Type

The U.S. Tire Market is segmented into several categories that reflect its diverse demand. Passenger cars hold a significant market share, driven by the high number of personal vehicles and the need for both OEM and replacement tires. The commercial vehicles segment, encompassing heavy trucks, buses, and fleets, is influenced by economic activities vital for transportation and logistics, requiring durable and performance-oriented tires. Meanwhile, the smaller niche segment of two-wheelers and other similar vehicles caters specifically to motorcycles and other two-wheeled forms of transport, which demand specialized tires for enhanced performance and durability.

By Tire Construction

Radial tires are the dominant choice in the market, favored for their durability, fuel efficiency, and comfort, making them ideal for both passenger cars and commercial vehicles. Conversely, bias tires are primarily utilized in heavier vehicles for off-road and industrial applications due to their robustness and superior load-bearing capacity. These distinctions highlight the specialized applications and preferences within different vehicle segments, reflecting the diverse needs of the U.S. Tire Market.

By Tire Seasonality

All-season tires, the most popular choice in the U.S., offer versatile performance across various weather conditions, making them ideal for many drivers. In contrast, summer tires are specifically optimized for warm weather, providing superior road grip in both dry and wet conditions during the hotter months. Meanwhile, winter tires are crucial for regions experiencing severe winter weather, as they are specifically engineered to deliver enhanced performance on snow and ice, ensuring safer driving in challenging conditions.

By Tire Brand and Tier

In the U.S. Tire Market, premium brands such as Michelin, Goodyear, and Bridgestone are highly regarded for their superior quality, reliability, and technological advancements, making them the preferred choice among discerning consumers. On the other hand, budget brands appeal to cost-conscious consumers by offering affordable tire options that do not compromise on essential aspects of safety and performance, effectively catering to a broad spectrum of market needs.

By Distribution Channel

Offline retail stores, encompassing dealerships, exclusive brand outlets, and multi-brand tire shops, continue to play a crucial role in the U.S. Tire Market by offering personalized services and immediate product availability. Meanwhile, online channels are experiencing rapid growth, fueled by the convenience of home delivery and competitive pricing that often undercuts physical stores. This dual-channel retail approach allows consumers to choose between the hands-on assistance and instant gratification of store purchases and the ease and savings offered by online shopping.

By End User

The OEM market segment of the U.S. Tire Market is intimately tied to automotive production, requiring tires that adhere to the stringent performance and quality standards set by vehicle manufacturers. Conversely, the aftermarket segment, which is larger, serves the replacement tire market where consumer choices are predominantly influenced by factors such as price, brand reputation, and specific usage requirements. Together, these segments form a comprehensive landscape, catering to the diverse and specific needs of the U.S. automotive sector.

Segments

Based on Vehicle Type

  • Passenger Cars
  • Commercial Vehicles
  • Two-Wheelers and Others

Based on Tire Construction

  • Radial Tires
  • Bias Tires

Based on Tire Seasonality

  • All-Season Tires
  • Summer Tires
  • Winter Tires

Based on Tire Brand and Tier

  • Premium Brands
  • Budget Brands

Based on Distribution Channel

  • Offline Retail Stores
  • Online Channels

Based on End User

  • OEM Market
  • Aftermarket

Regional Analysis

Northeast (18%):

The Northeast region, encompassing states like New York, New Jersey, and Pennsylvania, shows a steady demand for tires, primarily driven by high vehicle density and significant urbanization. The region experiences harsh winter conditions, which boosts the demand for winter tires. Additionally, the presence of several major cities means a higher concentration of passenger vehicles, thereby influencing tire sales.

South (35%):

The South is the largest market for tires in the U.S., with states like Texas, Florida, and Georgia leading in terms of sales. This region benefits from a growing population, a booming economy, and a high rate of vehicle registrations, which collectively drive up the demand for tires. The warmer climate favors year-round sales of all-season and summer tires. Moreover, the presence of major logistics and transportation hubs in the South supports strong demand in the commercial vehicle tire segment.

Key players

  • The Goodyear Tire & Rubber Company
  • Bridgestone Americas Inc.
  • Cooper Tire & Rubber Company
  • Continental Tire the Americas LLC
  • Pirelli Tire North America LLC
  • Kumho Tire United States Inc.
  • Yokohama Tire Corporation
  • Toyo Tire United States Corp
  • Hankook Tire America Corp

Competitive Analysis

In the competitive landscape of the U.S. Tire Market, key players are vigorously engaged in innovation, strategic partnerships, and expanding their product portfolios to enhance market penetration and customer satisfaction. The Goodyear Tire & Rubber Company and Bridgestone Americas Inc. lead in technological advancements and global footprint, positioning them as market leaders. Companies like Continental Tire and Pirelli are renowned for high-performance and premium tires, focusing on the luxury and sports segments. Meanwhile, Cooper Tire & Rubber Company emphasizes affordability and value for money, catering effectively to budget-conscious consumers. Brands like Yokohama and Hankook are enhancing their presence through aggressive marketing and customer service initiatives. Collectively, these companies drive the market by focusing on diverse consumer needs, from eco-friendliness to performance, across various vehicle segments.

Recent Developments

In 2023, Kumho Tire U.S.A. Inc announced its plans to establish a new distribution warehouse, encompassing an impressive 350,000 square feet. This strategic move is poised to significantly enhance the company’s logistics capabilities, enabling it to handle approximately 5 million passenger and light truck tires annually. This expansion reflects Kumho’s commitment to improving service delivery and responsiveness in meeting the rising demand for quality tires in the U.S. market, bolstering its distribution efficiency and customer service operations.

In May 2023, Bridgestone Corporation introduced the R192E, a pioneering tire specifically engineered for electric buses. Recognizing the unique challenges posed by electric buses, such as heavier battery packs and increased torque, the R192E is designed to meet these specific demands. It offers enhanced durability, better traction, and improved energy efficiency, making it ideal for the growing fleet of electric buses. This launch underscores Bridgestone’s dedication to innovation and its commitment to supporting the transition to more sustainable modes of transportation.

Also in May 2023, Bridgestone Corporation expanded its high-performance tire lineup with the new Potenza Race tire, available in 13 sizes ranging from 17 to 20 inches. Developed and manufactured in Europe, these tires are tailored for use on both road and track. They cater to high-end OEMs including Maserati, Ferrari, Porsche, McLaren, Lamborghini, BMW, Audi RS, and Mercedes, offering enhanced performance for sports cars and supercars. This offering demonstrates Bridgestone’s focus on delivering top-tier products for the luxury and performance vehicle segments.

In March 2023, Continental AG unveiled Conti Connect 2.0, an advanced digital tire management system designed to enhance fleet operations. This innovative system allows fleet managers to continuously monitor tire conditions, thereby optimizing fuel consumption and reducing CO2 emissions. By preventing premature tire replacements and reducing unscheduled downtime, Conti Connect 2.0 helps improve the overall operational efficiency of fleets, showcasing Continental’s commitment to leveraging technology for smarter, more sustainable fleet management.

Michelin made a significant addition to its tire offerings in March 2023 with a new tire designed specifically for SUVs and crossovers. This all-season tire is engineered to handle diverse driving conditions, including challenging snow and ice. It features a new tread compound that enhances grip in wet and snowy weather, coupled with a tread pattern designed to minimize road noise. This launch highlights Michelin’s ongoing commitment to innovation, focusing on delivering superior performance and comfort for drivers of SUVs and crossovers.

Report Coverage

The research report offers an in-depth analysis based on Vehicle Type, Tire Construction, Tire Seasonality, Tire Brand and Tier, Distribution Channel and End User. It details leading market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, SWOT analysis, current market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven market expansion in recent years. The report also explores market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the market.

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Future Outlook

  1. The U.S. Tire Market is expected to increasingly adopt sustainable manufacturing practices, responding to regulatory pressures and consumer preferences for eco-friendly products.
  1. Continued innovation in smart tire technologies will enhance vehicle safety and performance, incorporating sensors and IoT connectivity for real-time data monitoring.
  1. As electric vehicle (EV) adoption grows, the demand for tires with specific characteristics suitable for higher torque and load requirements will rise.
  1. The preference for all-season tires is anticipated to remain strong, driven by their versatility and cost-effectiveness across diverse climatic conditions.
  1. E-commerce platforms will play a crucial role in tire sales, with more consumers turning to online purchasing for convenience and competitive pricing.
  1. There will be a growing demand for high-performance tires, fueled by the increasing popularity of sports cars and luxury vehicles in the U.S.
  1. Tire recycling and retreading practices will gain momentum as part of sustainability initiatives, reducing environmental impact and resource wastage.
  1. Potential market consolidation may occur as major players seek to expand their market share and capabilities through mergers and acquisitions.
  1. Regulatory developments focusing on safety and environmental impacts will continue to shape market dynamics, compelling manufacturers to innovate and adhere to stricter standards.
  1. Manufacturers will likely increase efforts in consumer education and engagement to highlight the importance of tire maintenance and innovation benefits, enhancing brand loyalty and market penetration.

CHAPTER NO. 1 : INTRODUCTION 15

1.1. Report Description 15

Purpose of the Report 15

USP & Key Offerings 15

1.2. Key Benefits for Stakeholders 15

1.3. Target Audience 16

1.4. Report Scope 16

CHAPTER NO. 2 : EXECUTIVE SUMMARY 17

2.1. Tire Market Snapshot 17

2.2. U.S. Tire Market, Volume (Units) & Revenue (USD Million) 2018 – 2032 19

2.3. Insights from Primary Respondents 20

CHAPTER NO. 3 : GEOPOLITICAL CRISIS IMPACT ANALYSIS 21

3.1. Russia-Ukraine and Israel-Palestine War Impacts 21

CHAPTER NO. 4 : TIRE MARKET – INDUSTRY ANALYSIS 22

4.1. Introduction 22

4.2. Market Drivers 23

4.3. Driving Factor 1 Analysis 23

4.4. Driving Factor 2 Analysis 24

4.5. Market Restraints 25

4.6. Restraining Factor Analysis 25

4.7. Market Opportunities 26

4.8. Market Opportunity Analysis 26

4.9. Porter’s Five Forces Analysis 27

CHAPTER NO. 5 : ANALYSIS COMPETITIVE LANDSCAPE 28

5.1. Company Market Share Analysis – 2023 28

5.1.1. U.S. Tire Market: Company Market Share, by Revenue, 2023 28

5.1.2. U.S. Tire Market: Company Market Share, by Revenue, 2023 29

5.1.3. U.S. Tire Market: Top 6 Company Market Share, by Revenue, 2023 29

5.1.4. U.S. Tire Market: Top 3 Company Market Share, by Revenue, 2023 30

5.2. U.S. Tire Market Company Volume Market Share, 2023 31

5.3. U.S. Tire Market Company Revenue Market Share, 2023 32

5.4. Company Assessment Metrics, 2023 33

5.4.1. Stars 33

5.4.2. Emerging Leaders 33

5.4.3. Pervasive Players 33

5.4.4. Participants 33

5.5. Start-ups /SMEs Assessment Metrics, 2023 33

5.5.1. Progressive Companies 33

5.5.2. Responsive Companies 33

5.5.3. Dynamic Companies 33

5.5.4. Starting Blocks 33

5.6. Strategic Developments 34

5.6.1. Acquisitions & Mergers 34

New Product Launch 34

Regional Expansion 34

5.7. Key Players Product Matrix 35

CHAPTER NO. 6 : PESTEL & ADJACENT MARKET ANALYSIS 36

6.1. PESTEL 36

6.1.1. Political Factors 36

6.1.2. Economic Factors 36

6.1.3. Social Factors 36

6.1.4. Technological Factors 36

6.1.5. Environmental Factors 36

6.1.6. Legal Factors 36

6.2. Adjacent Market Analysis 36

CHAPTER NO. 7 : TIRE MARKET – BY VEHICLE TYPE SEGMENT ANALYSIS 37

7.1. Tire Market Overview, by Vehicle Type Segment 37

7.1.1. Tire Market Revenue Share, By Vehicle Type, 2023 & 2032 38

7.1.2. Tire Market Attractiveness Analysis, By Vehicle Type 39

7.1.3. Incremental Revenue Growth Opportunity, by Vehicle Type, 2024 – 2032 39

7.1.4. Tire Market Revenue, By Vehicle Type, 2018, 2023, 2027 & 2032 40

7.2. Truck and Bus Tires 41

7.3. Commercial Truck Tires 42

7.4. Passenger Car Tires 42

7.5. Light Truck Tires 43

7.6. Motorcycle Tires 43

CHAPTER NO. 8 : TIRE MARKET – BY TIRE CONSTRUCTION  SEGMENT ANALYSIS 44

8.1. Tire Market Overview, by Tire Construction  Segment 44

8.1.1. Tire Market Revenue Share, By Tire Construction , 2023 & 2032 45

8.1.2. Tire Market Attractiveness Analysis, By Tire Construction 46

8.1.3. Incremental Revenue Growth Opportunity, by Tire Construction , 2024 – 2032 46

8.1.4. Tire Market Revenue, By Tire Construction , 2018, 2023, 2027 & 2032 47

8.2. All Season Tires 48

8.3. Bias Ply Tires 49

8.4. Run flat Tires 50

CHAPTER NO. 9 : TIRE MARKET – BY TIRE SEASONALITY SEGMENT ANALYSIS 51

9.1. Tire Market Overview, by Tire Seasonality Segment 51

9.1.1. Tire Market Revenue Share, By Tire Seasonality, 2023 & 2032 52

9.1.2. Tire Market Attractiveness Analysis, By Tire Seasonality 53

9.1.3. Incremental Revenue Growth Opportunity, by Tire Seasonality, 2024 – 2032 53

9.1.4. Tire Market Revenue, By Tire Seasonality, 2018, 2023, 2027 & 2032 54

9.2. All Season Tires 55

9.3. Winter Tires 56

9.4. Summer Tires 57

CHAPTER NO. 10 : TIRE MARKET – BY TIRE BRAND AND TIER SEGMENT ANALYSIS 58

10.1. Tire Market Overview, by Tire Brand and Tier Segment 58

10.1.1. Tire Market Revenue Share, By Tire Brand and Tier, 2023 & 2032 59

10.1.2. Tire Market Attractiveness Analysis, By Tire Brand and Tier 60

10.1.3. Incremental Revenue Growth Opportunity, by Tire Brand and Tier, 2024 – 2032 60

10.1.4. Tire Market Revenue, By Tire Brand and Tier, 2018, 2023, 2027 & 2032 61

10.2. Premium Tires 62

10.3. Mid-Range Tires 63

10.4. Economy Tires 63

10.5. Private Label Tires 64

CHAPTER NO. 11 : TIRE MARKET – BY DISTRIBUTION CHANNEL SEGMENT ANALYSIS 65

11.1. Tire Market Overview, by Distribution Channel Segment 65

11.1.1. Tire Market Revenue Share, By Distribution Channel, 2023 & 2032 66

11.1.2. Tire Market Attractiveness Analysis, By Distribution Channel 67

11.1.3. Incremental Revenue Growth Opportunity, by Distribution Channel, 2024 – 2032 67

11.1.4. Tire Market Revenue, By Distribution Channel, 2018, 2023, 2027 & 2032 68

11.2. Tire Retailers and Dealers 69

11.3. Online Retail 70

11.4. Wholesale and Distributors 70

CHAPTER NO. 12 : TIRE MARKET – BY END USER SEGMENT ANALYSIS 71

12.1. Tire Market Overview, by End User Segment 71

12.1.1. Tire Market Revenue Share, By End User, 2023 & 2032 72

12.1.2. Tire Market Attractiveness Analysis, By End User 73

12.1.3. Incremental Revenue Growth Opportunity, by End User, 2024 – 2032 73

12.1.4. Tire Market Revenue, By End User, 2018, 2023, 2027 & 2032 73

12.2. Consumer Replacement 75

12.3. Original Equipment Manufacturer 76

12.4. Commercial Fleets 76

CHAPTER NO. 13 : COMPANY PROFILES 77

13.1. Michelin North America Inc. 77

13.1.1. Company Overview 77

13.1.2. Product Portfolio 77

13.1.3. Swot Analysis 77

13.1.4. Business Strategy 78

13.1.5. Financial Overview 78

13.2. The Goodyear Tire & Rubber Company 79

13.3. Bridgestone Americas Inc. 79

13.4. Cooper Tire & Rubber Company 79

13.5. Continental Tire the Americas LLC 79

13.6. Pirelli Tire North America LLC 79

13.7. Kumho Tire United States Inc. 79

13.8. Yokohama Tire Corporation 79

13.9. Toyo Tire United States Corp. 79

13.10. Hankook Tire America Corp. 79

CHAPTER NO. 14 : RESEARCH METHODOLOGY 80

14.1. Research Methodology 80

14.2. Phase I – Secondary Research 81

14.3. Phase II – Data Modeling 81

Company Share Analysis Model 82

Revenue Based Modeling 82

14.4. Phase III – Primary Research 83

14.5. Research Limitations 84

Assumptions 84

 

List of Figures

FIG NO. 1. U.S. Tire Market, Volume (Units) & Revenue (USD Million) 2018 – 2032 19

FIG NO. 2. Porter’s Five Forces Analysis for U.S. Tire Market 27

FIG NO. 3. Company Share Analysis, 2023 28

FIG NO. 4. Company Share Analysis, 2023 29

FIG NO. 5. Company Share Analysis, 2023 29

FIG NO. 6. Company Share Analysis, 2023 30

FIG NO. 7. Tire Market – Company Volume Market Share, 2023 31

FIG NO. 8. Tire Market – Company Revenue Market Share, 2023 32

FIG NO. 9. Tire Market Revenue Share, By Vehicle Type, 2023 & 2032 38

FIG NO. 10. Market Attractiveness Analysis, By Vehicle Type 39

FIG NO. 11. Incremental Revenue Growth Opportunity by Vehicle Type, 2024 – 2032 39

FIG NO. 12. Tire Market Revenue, By Vehicle Type, 2018, 2023, 2027 & 2032 40

FIG NO. 13. U.S. Tire Market for Truck and Bus Tires, Volume (Units) & Revenue (USD Million) 2018 – 2032 41

FIG NO. 14. U.S. Tire Market for Commercial Truck Tires, Volume (Units) & Revenue (USD Million) 2018 – 2032 42

FIG NO. 15. U.S. Tire Market for Passenger Car Tires, Volume (Units) & Revenue (USD Million) 2018 – 2032 42

FIG NO. 16. U.S. Tire Market for Light Truck Tires, Volume (Units) & Revenue (USD Million) 2018 – 2032 43

FIG NO. 17. U.S. Tire Market for Motorcycle Tires, Volume (Units) & Revenue (USD Million) 2018 – 2032 43

FIG NO. 18. Tire Market Revenue Share, By Tire Construction , 2023 & 2032 45

FIG NO. 19. Market Attractiveness Analysis, By Tire Construction 46

FIG NO. 20. Incremental Revenue Growth Opportunity by Tire Construction , 2024 – 2032 46

FIG NO. 21. Tire Market Revenue, By Tire Construction , 2018, 2023, 2027 & 2032 47

FIG NO. 22. U.S. Tire Market for All Season Tires , Volume (Units) & Revenue (USD Million) 2018 – 2032 48

FIG NO. 23. U.S. Tire Market for Bias Ply Tires, Volume (Units) & Revenue (USD Million) 2018 – 2032 49

FIG NO. 24. U.S. Tire Market for Run flat Tires , Volume (Units) & Revenue (USD Million) 2018 – 2032 50

FIG NO. 25. Tire Market Revenue Share, By Tire Seasonality, 2023 & 2032 52

FIG NO. 26. Market Attractiveness Analysis, By Tire Seasonality 53

FIG NO. 27. Incremental Revenue Growth Opportunity by Tire Seasonality, 2024 – 2032 53

FIG NO. 28. Tire Market Revenue, By Tire Seasonality, 2018, 2023, 2027 & 2032 54

FIG NO. 29. U.S. Tire Market for All Season Tires, Volume (Units) & Revenue (USD Million) 2018 – 2032 55

FIG NO. 30. U.S. Tire Market for Winter Tires, Volume (Units) & Revenue (USD Million) 2018 – 2032 56

FIG NO. 31. U.S. Tire Market for SummerTires, Volume (Units) & Revenue (USD Million) 2018 – 2032 57

FIG NO. 32. Tire Market Revenue Share, By Tire Brand and Tier, 2023 & 2032 59

FIG NO. 33. Market Attractiveness Analysis, By Tire Brand and Tier 60

FIG NO. 34. Incremental Revenue Growth Opportunity by Tire Brand and Tier, 2024 – 2032 60

FIG NO. 35. Tire Market Revenue, By Tire Brand and Tier, 2018, 2023, 2027 & 2032 61

FIG NO. 36. U.S. Tire Market for Premium Tires, Volume (Units) & Revenue (USD Million) 2018 – 2032 62

FIG NO. 37. U.S. Tire Market for Mid-Range Tires, Volume (Units) & Revenue (USD Million) 2018 – 2032 63

FIG NO. 38. U.S. Tire Market for Economy Tires, Volume (Units) & Revenue (USD Million) 2018 – 2032 63

FIG NO. 39. U.S. Tire Market for Private Label Tires, Volume (Units) & Revenue (USD Million) 2018 – 2032 64

FIG NO. 40. Tire Market Revenue Share, By Distribution Channel, 2023 & 2032 66

FIG NO. 41. Market Attractiveness Analysis, By Distribution Channel 67

FIG NO. 42. Incremental Revenue Growth Opportunity by Distribution Channel, 2024 – 2032 67

FIG NO. 43. Tire Market Revenue, By Distribution Channel, 2018, 2023, 2027 & 2032 68

FIG NO. 44. U.S. Tire Market for Tire Retailers and Dealers Volume (Units) & Revenue (USD Million) 2018 – 2032 69

FIG NO. 45. U.S. Tire Market for Online Retail, Volume (Units) & Revenue (USD Million) 2018 – 2032 70

FIG NO. 46. U.S. Tire Market for Wholesale and Distributors, Volume (Units) & Revenue (USD Million) 2018 – 2032 70

FIG NO. 47. Tire Market Revenue Share, By End User, 2023 & 2032 72

FIG NO. 48. Market Attractiveness Analysis, By End User 73

FIG NO. 49. Incremental Revenue Growth Opportunity by End User, 2024 – 2032 73

FIG NO. 50. Tire Market Revenue, By End User, 2018, 2023, 2027 & 2032 74

FIG NO. 51. U.S. Tire Market for Consumer Replacement Volume (Units) & Revenue (USD Million) 2018 – 2032 75

FIG NO. 52. U.S. Tire Market for Original Equipment Manufacturer, Volume (Units) & Revenue (USD Million) 2018 – 2032 76

FIG NO. 53. U.S. Tire Market for Commercial Fleets, Volume (Units) & Revenue (USD Million) 2018 – 2032 76

FIG NO. 54. Research Methodology – Detailed View 80

FIG NO. 55. Research Methodology 81

List of Tables

TABLE NO. 1. : U.S. Tire Market: Snapshot 17

TABLE NO. 2. : Drivers for the Tire Market: Impact Analysis 23

TABLE NO. 3. : Restraints for the Tire Market: Impact Analysis 25

Frequently Asked Questions:

What is the projected market size and growth rate of the U.S. Tire Market by 2032?

The U.S. Tire Market is expected to grow from USD 127,893.45 million in 2023 to an estimated USD 225,421.21 million by 2032, expanding at a CAGR of 6.50% from 2024 to 2032.

What are the key factors driving the growth of the U.S. Tire Market?

Key drivers include increasing vehicle sales and production, advancements in tire technology such as smart and green tires, growth in commercial vehicle usage, and stringent regulatory and safety standards.

How are technological innovations influencing the U.S. Tire Market?

Technological innovations, particularly the development of smart tires equipped with sensors for real-time data on pressure and tread wear, are enhancing driving safety and performance, significantly influencing market growth.

Which regions in the U.S. are leading in tire demand and why?

High demand in populous states like California, Texas, and Florida is driving the market, attributed to substantial vehicle ownership rates and significant contributions to both consumer and commercial vehicle sales.

What trends are shaping the U.S. Tire Market currently?

Current trends include a shift towards eco-friendly and sustainable tires, increased adoption of advanced tire technologies, rising preference for all-season and all-terrain tires, growth in online tire sales, and the demand for high-performance tires among vehicle enthusiasts.

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