United States Tire Market Size, share, Market forecast & Analysis 2032

The United States Tire Market is experiencing robust growth and is projected to reach USD 98.46 billion by 2031 from USD 69.13 billion in 2022

United States Tire market is anticipated to witness a significant growth during the forecast period on account of increasing vehicle fleet and growing demand of technically advance tires.

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This report focuses on tire volume and value at the country and regional level. This report represents overall tire market size by analyzing historical data from 2020-2024 and future prospect from 2020-2032. Regionally, this report focuses on several regions which include Northeast, Southwest, West, Southeast, and Midwest.

The United States tire market continues to evolve, driven by factors such as technological advancements, changing consumer preferences, and the growth of the automotive industry. This report provides a comprehensive analysis of the United States tire market from 2022 to 2031, focusing on various segments including vehicle type, end-user, radial vs. bias, distribution channel, and regional analysis.

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2. Market Overview

The United States tire market is segmented based on:

Vehicle Type: Passenger Car, Light Commercial Vehicle (LCV), Medium and Heavy Commercial Vehicle (M&HCV), Two-Wheeler, Off the Road Vehicles (OTR)
End-User: Original Equipment Manufacturers (OEM) Vs. Replacement
Radial Vs. Bias
Distribution Channel
Region

3. Market Dynamics

3.1 Drivers

Continuous growth of the automotive industry in the United States.
Increasing demand for high-performance tires with improved fuel efficiency and durability.
Technological advancements leading to the development of innovative tire solutions.
Growing emphasis on safety and environmental sustainability.
Expansion of the aftermarket industry due to the aging vehicle parc.

3.2 Restraints

Fluctuating raw material prices impacting tire manufacturing costs.
Stringent government regulations related to tire labeling, safety standards, and environmental concerns.
Economic uncertainties and market volatility affecting consumer spending on vehicles and aftermarket products.

4. Market Segmentation

4.1 By Vehicle Type

Passenger Car: Dominates the market share owing to the high number of passenger car sales and replacement demand.
LCV and M&HCV: Witnessing steady growth driven by commercial activities, logistics operations, and infrastructure development.
Two-Wheeler: Growing demand due to the rising popularity of motorcycles and scooters for personal transportation.
OTR Vehicles: Used in construction, mining, agriculture, and industrial sectors, driving the demand for specialized OTR tires.

4.2 By End-User

OEM: Original Equipment Manufacturers segment is driven by the production of new vehicles and integration of advanced tire technologies.
Replacement: Replacement market is fueled by tire wear and tear, aging vehicle parc, and consumer preferences for performance upgrades.

4.3 By Radial Vs. Bias

Radial Tires: Dominate the market due to advantages such as better fuel efficiency, improved traction, and longer tread life.
Bias Tires: Still hold significance in specific applications such as agriculture, aviation, and vintage vehicles.

4.4 By Distribution Channel

OEM Distribution: Tires supplied directly to vehicle manufacturers for installation in new vehicles.
Aftermarket Distribution: Replacement tires distributed through tire dealerships, online retail platforms, and automotive service centers.

4.5 By Region

Regional analysis covering major states and metropolitan areas influencing tire demand and consumption patterns.

5. Competitive Landscape

Overview of key players in the United States tire market, including manufacturers, distributors, and retailers.
Analysis of market share, product portfolio, pricing strategies, and recent developments.
Strategies adopted by companies to enhance their market presence, such as mergers & acquisitions, partnerships, and product innovations.

6. Future Outlook and Opportunities

Growth projections and opportunities in the United States tire market until 2031.
Emerging trends like the adoption of sustainable tire materials, smart tire technology, and digitalization in manufacturing and distribution processes.
Strategic recommendations for stakeholders to capitalize on market opportunities and maintain competitiveness.Download Free Sample Report

7. Conclusion

The United States tire market is expected to witness steady growth in the forecast period, driven by technological advancements, increasing vehicle sales, and evolving consumer preferences. However, challenges such as raw material costs and regulatory compliance need to be addressed to ensure sustainable growth and environmental responsibility in the industry.

8. References