According to the latest report by IMARC Group, titled, “United States Tire Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The United States tire market size reached 344.7 Million Units in 2022. Looking forward, IMARC Group expects the market to reach 402.1 Million Units by 2028, exhibiting a growth rate (CAGR) of 2.7% during 2023-2028.
Market Overview:
Tires are crucial vehicle components made of rubber that are inflated and installed over the outer edge or rim of the wheel. They provide the required friction and enable the vehicle to move more easily on the road. They are commonly manufactured using steel wires, fabric, synthetic rubber, carbon black, silica, and vulcanization accelerator. They also improve shock absorption and reduce vibrations while driving. At present, tires are gaining immense traction across the automotive and transportation industries in the United States as they offer various benefits, such as providing braking forces to the surface, evenly distributing vehicular weight on the road, maintaining the direction of travel, and improving vehicle landing.
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United States Tire Market Trends and Drivers:
The United States tire market is primarily driven by the increasing vehicle production. Moreover, the rising sales of luxury, passenger, and electric vehicles due to inflating consumer disposable incomes and rapid urbanization is positively influencing the market growth. Additionally, the increasing support from the U.S. Federal Government to promote eco-friendly and sustainable manufacturing techniques in the production process owing to rising environmental concerns has catalyzed the market growth. Furthermore, numerous key players are focusing on recovering and recycling used tires to conserve the energy required for manufacturing new ones, thereby contributing to the market growth. Other factors, including the increasing logistics and transportation activities for package delivery, rising farming activities in the agriculture sector, and rapid growth in the automobile industry, are also anticipated to drive the market further.
United States Tire Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape:
- The competitive landscape of the industry has also been examined along with the profiles of the key players.
The report has segmented the market based on design, end-use, vehicle type, distribution channel and season.
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
- Market Breakup by Rim Size
- Market Breakup by Tire Size
- Price Ranges by Rim Size
- 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
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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