The United States tire market size reached 350.6 Million Units in 2023. Looking forward, IMARC Group expects the market to reach 400.3 Million Units by 2032, exhibiting a growth rate (CAGR) of 1.4% during 2024-2032.
United States Tire Market Overview
Market Size in 2023: 350.6 Million Units
Market Forecast in 2032: 400.3 Million Units
Market Growth Rate: 1.4% (2024-2032)
The U.S. tire market is experiencing steady growth, driven by increasing vehicle ownership and the growing demand for high-performance tires. This expansion is fueled by advancements in tire technology and the rising focus on safety and fuel efficiency. According to the latest report by IMARC Group, The tire market size is projected to grow at a CAGR of 1.4% from 2024 to 2032.
United States Tire Industry Trends and Drivers:
Key trends in the United States tire market include a growing focus on sustainability and innovation. Additionally, tire manufacturers are investing in eco-friendly materials and technologies that reduce environmental impact, such as the use of recycled rubber and the development of tires with lower emissions. There is also a push toward smart tires that incorporate sensors to monitor tire pressure, temperature, and overall condition, enhancing vehicle safety and performance. The rise of autonomous and connected vehicles is expected to further influence the market, as these vehicles will require specialized tires that can integrate with advanced vehicle systems.
Moreover, the increasing adoption of EVs is creating opportunities for tire manufacturers to design high-performance tires optimized for electric drivetrains, focusing on durability and efficiency. As the U.S. continues to transition toward greener transportation, tire manufacturers are likely to prioritize sustainability, innovation, and performance to stay competitive in this evolving market.
The United States tire market is primarily driven by the increasing vehicle population and the rise in automotive sales. Additionally, the growing demand for passenger and commercial vehicles, driven by economic recovery and rising consumer spending, is fueling tire demand. Moreover, the surge in e-commerce and logistics has significantly increased the need for commercial vehicles, further boosting the market. Government regulations mandating the use of advanced tires, such as low rolling resistance tires for fuel efficiency, are also playing a role in market growth. Along with this, the trend toward electric vehicles (EVs) is encouraging tire manufacturers to innovate and produce specialized tires designed to meet the unique needs of these vehicles.
Apart from this, replacement tire market in the U.S. is also expanding due to the increasing average age of vehicles. As vehicles stay on the road longer, the need for replacement tires continues to rise, supporting the aftermarket segment. In line with this, low interest rates and favorable financing options for vehicle purchases have also spurred new vehicle sales, which in turn drive demand for original equipment (OE) tires. Furthermore, the expanding network of tire service centers and online tire retailers is making tire replacement more accessible for consumers.
United States Tire Market Forecast & 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
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
Ask analyst for your customized sample: https://www.imarcgroup.com/request?type=report&id=4059&flag=F
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