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United States Tire Market Overview 2024-2032
The latest report by IMARC Group, titled “United States Tire Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032“, offers a comprehensive analysis of the industry, which comprises insights on the United States tire market trends. The 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.
A tire is a ring-shaped component that surrounds a wheel’s rim to transfer a vehicle’s load from the axle through the wheel to the ground while providing traction on the surface traveled. Tires are made from a combination of natural and synthetic rubber, fabric, wire, carbon black, and other chemical compounds. They are designed to be durable and flexible to withstand various driving conditions and provide optimal performance in terms of handling, safety, and comfort. Tires come in numerous types, including all-season, winter, summer, performance, and off-road, each tailored to specific weather conditions and driving requirements. The tread pattern on the surface of a tire is crucial as it affects the grip and handling of the vehicle. Modern tires often incorporate advanced technologies such as run-flat capabilities, which allow the tire to function for a short distance even after a puncture, and tire pressure monitoring systems (TPMS) that alert drivers to under-inflated tires.
United States Tire Market Trends and Drivers:
The tire market in the United States is experiencing significant growth, driven by various factors and emerging trends that reflect the evolving demands of the automotive industry and consumer preferences. One of the primary drivers is the increasing vehicle production and sales across the country. As the automotive industry continues to expand, the demand for original equipment manufacturer (OEM) tires grows concurrently, fueling the market growth. The rising vehicle fleet and increasing average vehicle age necessitate regular tire replacement, boosting the aftermarket tire segment. Technological advancements in tire manufacturing are also contributing to market growth. Innovations such as run-flat tires, self-inflating tires, and advancements in tread design enhance the performance, safety, and durability of tires, attracting consumers willing to invest in high-quality products.
Furthermore, the development of fuel-efficient tires with low rolling resistance is gaining traction as automakers and consumers alike prioritize fuel economy and reduced emissions. The expanding electric vehicle (EV) market is another critical factor driving the U.S. tire market. EVs require specialized tires that can handle the unique demands of electric drivetrains, such as higher torque and heavier battery weight. As EV adoption increases, the demand for these specialized tires is expected to rise significantly. Consumer preferences for safety and performance are also shaping the market. There is a growing demand for tires that offer superior grip, handling, and braking performance in various weather conditions. This is leading to an increased focus on all-season and winter tires, especially in regions with harsh weather conditions.
Additionally, the trend towards high-performance and ultra-high-performance tires is notable among car enthusiasts and owners of luxury and sports vehicles. Marketing strategies and brand loyalty play a crucial role in driving tire sales. Major tire manufacturers are investing heavily in marketing campaigns, sponsorships, and promotional activities to enhance brand visibility and consumer trust. The rise of e-commerce platforms is further facilitating the easy availability and purchase of tires, providing consumers with a wide range of options and competitive pricing. Moreover, government initiatives and regulations aimed at enhancing road safety and environmental protection are positively influencing the market.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/united-states-tire-market/requestsample
United States Tire Market 2024-2032 Analysis and Segmentation:
The report segmented the market on the basis of region, 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
- 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)
- 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 can provide it to you as a part of the customization.
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