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 pneumatically inflated, ring-shaped structure that encloses the rim of a wheel. It is made from natural or synthetic rubber, fabric, carbon black, silica, steel, wire, etc., and helps in transferring the vehicle’s load onto the road by forming a soft contact. A tire serves as a cushion for the wheels of a moving vehicle by providing a gripping surface for traction. It also absorbs shocks, reduces the impact of vibrations, maintains the direction of travel, and withstands the tractive force between the vehicle and the surface of the road, thereby improving the vehicle’s overall performance.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
The expanding automotive industry and the growing demand for vehicles owing to elevating consumer living standards are driving the United States tire market. Additionally, rising environmental awareness and extended support by the U.S. Federal Government to promote sustainable and eco-friendly manufacturing techniques in tire production processes are catalyzing the market growth. Furthermore, shifting consumer preferences towards vehicles with enhanced performance are encouraging manufacturers to adopt innovative designs and technologies to improve the efficiency, affordability, durability, etc., of the tire. This, in turn, is anticipated to bolster the market growth in the United States over the coming years.
United States Tire Market 2022-2027 Analysis and Segmentation:
The report has segmented the market on the basis on region, design, end-use, vehicle type, distribution channel, 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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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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