The US tire market is anticipated to grow at a modest CAGR of 1.9% during the forecast period. The growing demand for high-performance tires and innovation in tire technology are the major factor for the growth of the tire market in the country. As per the OICA, vehicle sales are decreasing in the US since 2016. However, there is a considerable demand from the aftersales sector, providing growth opportunities to the market.
The US tire market is segmented on the basis of vehicle type, road application, construction, tire type, and sales channel. By vehicle type, the market is further segmented into passenger cars, light & medium commercial vehicles, heavy commercial vehicles, two-wheeler, and other. Passenger cars will maintain a major market share during the forecast period. For instance, out of a total of 333 million tire shipments in 2019, 269 million were for passenger cars.
Some of the key players of the US Tire market include Bridgestone Corp., Continental AG, Cooper Tire & Rubber Co., Goodyear Tire and Rubber Co., Michelin Group, Pirelli & C. S.p.A., Sumitomo Rubber Industries Ltd. among other. The market players are significantly contributing to the market growth by adopting various strategies including mergers, & acquisitions, collaborations, new product launch, and geographical expansion, to stay competitive in the market. For instance, in June 2020, JK Tyre & Industries Ltd. has announced to start their operation in the US by setting up the new subsidiary as Western Tires Inc., located in Texas, which will focus on the sales, service, and network expansion. Earlier to this, the company used to export its tires to the US through local partners.
Research Methodology
The market study of the US tire market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts as to bring more authenticity to the reports.
Secondary Sources Include
The report is intended for tire manufacturers & distributors, automakers, auto-ancillary companies, start-ups, venture capitalists, seed funders, research organizations, and other related organizations for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, products offered by the companies, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights into the market for making better business decisions.
Market Segmentation
The Report Covers
1. Report Summary
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
2.3. Rules & Regulations
3. Market Determinants
3.1. Motivators
3.2. Restraints
3.3. Opportunities
4. Market Segmentation
4.1. US Automotive Tire Market By Vehicle Type
4.1.1. Passenger Cars
4.1.2. Light & Medium Commercial Vehicle
4.1.3. Heavy Commercial Vehicle
4.1.4. Two-Wheeler
4.1.5. Other (Construction, Agricultural, Customized Sports)
4.2. US Automotive Tire Market By Road Application
4.2.1. All-Season Tire
4.2.2. Summer Tire
4.2.3. Winter Tire
4.2.4. Other (All-Terrain Tire)
4.3. US Automotive Tire Market By Construction
4.3.1. Radial Tire
4.3.2. Bias Ply Tire
4.4. US Automotive Tire Market By Tire Type
4.4.1. Tubeless Tire
4.4.2. Tubbed Tire
4.5. US Automotive Tire Market By Sales Channel
4.5.1. OEM (Original Equipment Manufacturer)
4.5.2. Aftermarket (Replacement)
5. Company Profiles
5.1. Bridgestone Corp.
5.2. Ceat Ltd.
5.3. Cheng Shin Rubber Ind. Co. Ltd.
5.4. Continental AG
5.5. Cooper Tire & Rubber Co.
5.6. Giti Tire Pte Ltd.
5.7. Goodyear Tire and Rubber Co.
5.8. Hankook Tire Co. Ltd.
5.9. Kenda Rubber Industrial Co., Ltd.
5.10. Michelin Group
5.11. Nexan Tire Corp.
5.12. Omni United (S) Pte. Ltd.
5.13. Pirelli & C. S.p.A.
5.14. Sumitomo Rubber Industries Ltd.
5.15. The Yokohama Rubber Co, Ltd.
5.16. Toyo Tire Corp.
5.17. Trelleborg AB
5.18. Triangle Group
1. US TIRE MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2019-2026 ($ MILLION)
2. US TIRE MARKET RESEARCH AND ANALYSIS BY ROAD APPLICATION, 2019-2026 ($ MILLION)
3. US TIRE MARKET RESEARCH AND ANALYSIS BY CONSTRUCTION, 2019-2026 ($ MILLION)
4. US TIRE MARKET RESEARCH AND ANALYSIS BY TIRE TYPE, 2019-2026 ($ MILLION)
5. US TIRE MARKET RESEARCH AND ANALYSIS BY SALES CHANNEL, 2019-2026 ($ MILLION)
1. US TIRE MARKET SHARE BY VEHICLE TYPE, 2019 VS 2026 (%)
2. US TIRE MARKET SHARE BY ROAD APPLICATION, 2019 VS 2026 (%)
3. US TIRE MARKET SHARE BY CONSTRUCTION, 2019 VS 2026 (%)
4. US TIRE MARKET SHARE BY TIRE TYPE, 2019 VS 2026 (%)
5. US TIRE MARKET SHARE BY SALES CHANNEL, 2019 VS 2026 (%)
6. US PASSENGER CARS TIRE MARKET SIZE, 2019-2026 ($ MILLION)
7. US LIGHT & MEDIUM COMMERCIAL VEHICLE TIRE MARKET SIZE, 2019-2026 ($ MILLION)
8. US HEAVY COMMERCIAL VEHICLE TIRE MARKET SIZE, 2019-2026 ($ MILLION)
9. US TWO-WHEELER TIRE MARKET SIZE, 2019-2026 ($ MILLION)
10. US OTHER VEHICLE TIRE MARKET SIZE, 2019-2026 ($ MILLION)
11. US ALL-SEASON TIRE MARKET SIZE, 2019-2026 ($ MILLION)
12. US SUMMER TIRE MARKET SIZE, 2019-2026 ($ MILLION)
13. US WINTER TIRE MARKET SIZE, 2019-2026 ($ MILLION)
14. US OTHER TIRE MARKET SIZE, 2019-2026 ($ MILLION)
15. US RADIAL TIRE MARKET SIZE, 2019-2026 ($ MILLION)
16. US BIAS PLY TIRE MARKET SIZE, 2019-2026 ($ MILLION)
17. US TUBELESS TIRE MARKET SIZE, 2019-2026 ($ MILLION)
18. US TUBBED TIRE MARKET SIZE, 2019-2026 ($ MILLION)
19. US OEM TIRE MARKET SIZE, 2019-2026 ($ MILLION)
20. US AFTERMARKET TIRE MARKET SIZE, 2019-2026 ($ MILLION)