close up of four tires
According to the latest report by IMARC Group, titled, “United States Tire Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The United States tire market size reached 338 Million Units in 2021. Looking forward, IMARC Group expects the market to reach 391.9 Million Units by 2027, exhibiting a growth rate (CAGR) of 2.6% during 2022-2027.
A tire refers to a ring-shaped, pneumatically inflated structure that encloses the rim of a wheel. It is generally made from natural or synthetic rubber, carbon black, fabric, silica, wire, steel, etc., and assists in transferring the vehicle’s load onto the road by generating a soft contact. A tire acts as a cushion for the wheels of a moving vehicle by creating a secure grip for traction. It also absorbs shocks, reduces vibrations, maintains the direction of travel, and endures the tractive force between the vehicle and the road surface, thereby enhancing the automobile’s overall performance.
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United States Tire Market Trends and Drivers:
The growing automotive industry, coupled with the escalating demand for vehicles owing to the rising living standards of the consumers, is primarily driving the United States tire market. In addition to this, the increasing investments by the US government to promote sustainable and environmental-friendly tire manufacturing procedures are also stimulating the growth of the regional market. Furthermore, changing consumer preferences towards advanced vehicles with improved performance are prompting tire manufacturers to use creative designs and technologies for enhancing tire efficiency, controlling overhead cost, improving longevity, etc. This, in turn, is expected to bolster the growth of United States tire market over the coming years.
United States Tire Market 2022-2027 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
- 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
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