US Tire Market 2023 | Industry Size, Growth, Share and Forecast 2028

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.

A tire refers to a ring-shaped component that encircles a wheel rim. It is produced using natural or synthetic rubber, carbon black, silica, steel, wire, and vulcanization accelerator. Tire transfers the automobile load from the wheel axle to the ground. This provides smooth traction between the surface and the wheel, thus enabling effective shock absorption and reduced vibrations. Tire offers additional benefits, including even distribution of vehicular weight on the road, braking forces to the surface, maintaining the direction of travel, and enhanced vehicle handling.

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United States Tire Market Trends and Drivers:

The rising sales of passenger, luxury, and electric vehicles (EVs), on account of inflating urbanization levels and the increasing purchasing power of individuals, are primarily augmenting the United States tire market. Furthermore, the inflating focus on driver and passenger safety and the growing number of fatal road accidents are causing the demand for premium quality tires with a longer operational life, enhanced stability and reliability, and high puncture resistance is positively influencing the market growth. Apart from this, the launch of eco-friendly, lightweight, and airless three-dimensional (3D) printed variants by key players is acting as another significant growth-inducing factor. Moreover, the rising focus on recovering and recycling used tires to minimize their environmental impact and save a considerable amount of energy required to manufacture new ones is also bolstering the market growth across the country. Besides this, the increasing number of logistics and transportation activities to deliver packages on time is further catalyzing the market growth. Additionally, the inflating numbers of farming activities in the agricultural sector are expected to drive the United States tire market in the coming years.

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
• 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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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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