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Report
United States Tire Market Report and Forecast 2024-2032
Market Report I 2024-03-25 I 174 Pages I EMR Inc.
United States Tire Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the United States tire market reached a value of USD 364.63 million in 2023. Aided by the technological advancements, environmental considerations, and changing consumer demands, the market is projected to further grow at a CAGR of 2.7% between 2024 and 2032 to reach a value of USD 463.57 million by 2032.
The U.S. tire industry represents a critical and dynamic component of the nation's economic and technological advancement. With a focus on innovation, sustainability, and meeting the evolving needs of consumers and the automotive industry, the tire market is set to embark on a path of substantial growth and development, marking a new era of progress and contribution to the global automotive landscape.
The surge in the United States tire market growth attributed to the robust automotive industry, increased vehicle sales, and the rising demand for replacement tires. This market is projected to witness substantial growth, with a Compound Annual Growth Rate (CAGR) that reflects the industry's adaptability and innovation in meeting contemporary challenges and opportunities.
Several factors contribute to the market's dynamics, including the surge in electric vehicle (EV) adoption, which necessitates the development of specialised tires to support the unique requirements of EVs, such as low rolling resistance and durability to handle increased torque. Additionally, the growing emphasis on sustainability has spurred the tire industry to explore eco-friendly materials and manufacturing processes, reducing environmental impact without compromising on performance.
According to the United States tire market analysis, advancements in tire technology, such as airless tires, intelligent tire systems, and advanced materials, have elevated safety standards, fuel efficiency, and the overall driving experience, catering to the sophisticated needs of modern consumers.
Innovation remains at the forefront of the market's expansion, with manufacturers investing heavily in research and development to introduce cutting-edge features like sensor-embedded tires for real-time monitoring of tire health, adaptive tread patterns for improved traction in diverse weather conditions, and eco-friendly tires made from renewable resources.
The regulatory environment influences the United States tire market outlook through standards and regulations related to safety, environmental compliance, and trade policies. Government initiatives aimed at promoting automotive safety and environmental sustainability further shape the industry's trajectory, encouraging innovation and adoption of green technologies.
Market Segmentation
The market can be divided based on design, type, season, vehicle type, sales channel, and region.
Market Breakup by Design
- Radial
- Bias
Market Breakup by Type
- Tube Tire
- Tubeless Tire
Market Breakup by Season
- Winter Tire
- Summer Tire
- All Season Tire
Market Breakup by Vehicle Type
- Two-Wheeler and Three-Wheeler
- Passenger Vehicle
- Heavy Commercial Vehicle
- Light and Medium Commercial Vehicle
- Others
Market Breakup by Sales Channel
- OEM
- Aftermarket
Market Breakup by Region
- New England
- Mideast
- Great Lakes
- Plains
- Southeast
- Southwest
- Rocky Mountain
- Far West
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global United States tire market. Some of the major players explored in the report by Expert Market Research are as follows:
- Bridgestone Corporation
- Michelin Group
- Continental AG
- Pirelli & C. S.p.A
- Goodyear Tire & Rubber Company
- Yokohama Rubber Co., Ltd.
- Hankook Tire & Technology Co., Ltd.
- Sumitomo Rubber Industries, Ltd.
- Giti Tire Pte Ltd.
- Toyo Tire Corp.
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 North America Tire Market Overview
8.1 Key Industry Highlights
8.2 North America Tire Historical Market (2018-2023)
8.3 North America Tire Market Forecast (2024-2032)
8.4 North America Tire Market Breakup by Country
8.4.1 United States
8.4.2 Canada
9 United States Tire Market Overview
9.1 Key Industry Highlights
9.2 United States Tire Historical Market (2018-2023)
9.3 United States Tire Market Forecast (2024-2032)
10 United States Tire Market by Design
10.1 Radial
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Bias
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 United States Tire Market by Type
11.1 Tube Tire
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Tubeless Tire
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 United States Tire Market by Season
12.1 Winter Tire
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Summer Tire
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 All Season Tire
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
13 United States Tire Market by Vehicle Type
13.1 Two-Wheeler and Three-Wheeler
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Passenger Vehicle
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Heavy Commercial Vehicle
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Light and Medium Commercial Vehicle
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 United States Tire Market by Sales Channel
14.1 OEM
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 Aftermarket
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
15 United States Tire Market by Region
15.1 New England
15.1.1 Historical Trend (2018-2023)
15.1.2 Forecast Trend (2024-2032)
15.2 Mideast
15.2.1 Historical Trend (2018-2023)
15.2.2 Forecast Trend (2024-2032)
15.3 Great Lakes
15.3.1 Historical Trend (2018-2023)
15.3.2 Forecast Trend (2024-2032)
15.4 Plains
15.4.1 Historical Trend (2018-2023)
15.4.2 Forecast Trend (2024-2032)
15.5 Southeast
15.5.1 Historical Trend (2018-2023)
15.5.2 Forecast Trend (2024-2032)
15.6 Southwest
15.6.1 Historical Trend (2018-2023)
15.6.2 Forecast Trend (2024-2032)
15.7 Rocky Mountain
15.7.1 Historical Trend (2018-2023)
15.7.2 Forecast Trend (2024-2032)
15.8 Far West
15.8.1 Historical Trend (2018-2023)
15.8.2 Forecast Trend (2024-2032)
16 Market Dynamics
16.1 SWOT Analysis
16.1.1 Strengths
16.1.2 Weaknesses
16.1.3 Opportunities
16.1.4 Threats
16.2 Porter's Five Forces Analysis
16.2.1 Supplier's Power
16.2.2 Buyer's Power
16.2.3 Threat of New Entrants
16.2.4 Degree of Rivalry
16.2.5 Threat of Substitutes
16.3 Key Indicators of Demand
16.4 Key Indicators of Price
17 Value Chain Analysis
18 Trade Data Analysis (HS Code - 4011)
18.1 Major Importing Countries
18.1.1 By Volume
18.1.2 By Value
18.2 Major Exporting Countries
18.2.1 By Volume
18.2.2 By Value
19 Price Analysis
20 Competitive Landscape
20.1 Market Structure
20.2 Company Profiles
20.2.1 Bridgestone Corporation
20.2.1.1 Company Overview
20.2.1.2 Product Portfolio
20.2.1.3 Demographic Reach and Achievements
20.2.1.4 Certifications
20.2.2 Michelin Group
20.2.2.1 Company Overview
20.2.2.2 Product Portfolio
20.2.2.3 Demographic Reach and Achievements
20.2.2.4 Certifications
20.2.3 Continental AG
20.2.3.1 Company Overview
20.2.3.2 Product Portfolio
20.2.3.3 Demographic Reach and Achievements
20.2.3.4 Certifications
20.2.4 Pirelli & C. S.p.A
20.2.4.1 Company Overview
20.2.4.2 Product Portfolio
20.2.4.3 Demographic Reach and Achievements
20.2.4.4 Certifications
20.2.5 Goodyear Tire & Rubber Company
20.2.5.1 Company Overview
20.2.5.2 Product Portfolio
20.2.5.3 Demographic Reach and Achievements
20.2.5.4 Certifications
20.2.6 Yokohama Rubber Co., Ltd.
20.2.6.1 Company Overview
20.2.6.2 Product Portfolio
20.2.6.3 Demographic Reach and Achievements
20.2.6.4 Certifications
20.2.7 Hankook Tire & Technology Co., Ltd.
20.2.7.1 Company Overview
20.2.7.2 Product Portfolio
20.2.7.3 Demographic Reach and Achievements
20.2.7.4 Certifications
20.2.8 Sumitomo Rubber Industries, Ltd.
20.2.8.1 Company Overview
20.2.8.2 Product Portfolio
20.2.8.3 Demographic Reach and Achievements
20.2.8.4 Certifications
20.2.9 Giti Tire Pte Ltd.
20.2.9.1 Company Overview
20.2.9.2 Product Portfolio
20.2.9.3 Demographic Reach and Achievements
20.2.9.4 Certifications
20.2.10 Toyo Tire Corp.
20.2.10.1 Company Overview
20.2.10.2 Product Portfolio
20.2.10.3 Demographic Reach and Achievements
20.2.10.4 Certifications
20.2.11 Others
21 Key Trends and Developments in the Market
List of Key Figures and Tables
1. North America Tire Market: Key Industry Highlights, 2018 and 2032
2. United States Tire Market: Key Industry Highlights, 2018 and 2032
3. United States Tire Historical Market: Breakup by Design (Million Units), 2018-2023
4. United States Tire Market Forecast: Breakup by Design (Million Units), 2024-2032
5. United States Tire Historical Market: Breakup by Type (Million Units), 2018-2023
6. United States Tire Market Forecast: Breakup by Type (Million Units), 2024-2032
7. United States Tire Historical Market: Breakup by Season (Million Units), 2018-2023
8. United States Tire Market Forecast: Breakup by Season (Million Units), 2024-2032
9. United States Tire Historical Market: Breakup by Vehicle Type (Million Units), 2018-2023
10. United States Tire Market Forecast: Breakup by Vehicle Type (Million Units), 2024-2032
11. United States Tire Historical Market: Breakup by Sales Channel (Million Units), 2018-2023
12. United States Tire Market Forecast: Breakup by Sales Channel (Million Units), 2024-2032
13. United States Tire Historical Market: Breakup by Region (Million Units), 2018-2023
14. United States Tire Market Forecast: Breakup by Region (Million Units), 2024-2032
15. Major Exporting Countries by Value
16. Major Importing Countries by Value
17. Major Exporting Countries by Volume
18. Major Importing Countries by Volume
19. United States Tire Market Structure
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