U.S. - Tyres - Market Analysis, Forecast, Size, Trends and Insights
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U.S. - Tyres - Market Analysis, Forecast, Size, Trends and Insights
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Article Publishing Date: Jul 7, 2022

US Tire Market Report: Prices, Companies, Supply Chain and Logistics 2022

The US tire market is one of the most important in the world. It's worth billions of dollars and there are many companies vying for a piece of the pie. It is forecast to grow at a CAGR of 3.3% from 2022 to 2025, according to a new report by IndexBox. In this blog post, we'll take a look at prices, companies, challenges and opportunities in the US tire market.

The Leading Tire Companies in the US

The US tire market is highly competitive, with a large number of companies vying for market share. The leading tire companies in the US include Michelin, Bridgestone, Continental, Goodyear, and Pirelli. These companies have a long history in the US market and are well-established brands.

Michelin is the leading tire company in the US, with a market share of around 20%. The company has a strong presence in the passenger car and light truck segments and offers a wide range of tire products.

Bridgestone is the second-largest tire company in the US, with a market share of around 15%. The company has a strong presence in the passenger car, SUV, and light truck segments.

Continental is the third-largest tire company in the US, with a market share of around 10%. The company has a strong presence in the passenger car and SUV segments.

Goodyear is the fourth-largest tire company in the US, with a market share of around 8%. The company has a strong presence in the passenger car segment.

Pirelli is the fifth-largest tire company in the US, with a market share of around 5%. The company has a strong presence in the passenger car and SUV segments.

Market Challenges and Opportunities

The US tire market is currently facing a number of challenges, including declining sales, increased competition from imports, and rising raw material costs. However, there are also opportunities for growth in the market, such as the increasing demand for tires with special features and the growing popularity of tire subscription programs.

To stay competitive in the US tire market, companies need to be aware of these challenges and opportunities and adjust their strategies accordingly.

Declining sales

One of the biggest challenges facing the US tire market is declining sales. In recent years, tire sales have been declining in both the passenger car and commercial vehicle segments.

This decline is due to a number of factors, including the increasing use of ride-sharing services, the growing popularity of electric vehicles, and the aging of the US population. As a result of these trends, it is expected that tire sales will continue to decline in the future.

Increased competition from imports

Another challenge facing the US tire market is increased competition from imports. In recent years, there has been a significant increase in the number of tires imported into the United States.

This increase is due to a combination of factors, including the rising cost of raw materials in the United States and the continued expansion of Chinese tire manufacturers. As a result of this increased competition, it is expected that prices for tires will continue to decline in the future.

Rising raw material costs

A third challenge facing the US tire market is rising raw material costs. In recent years, there has been a significant increase in the cost of rubber and other raw materials used to manufacture tires. This increase is due to a number of factors, including the declining value of the US dollar and the growing demand for tires in emerging markets.

Growing demand for tires with special features

Despite these challenges, there are also opportunities for growth in the US tire market. One of the most significant opportunities is the growing demand for tires with special features.

In recent years, there has been an increasing demand for tires that offer improved fuel economy, longer tread life, and other special features. As a result of this trend, it is expected that sales of specialty tires will grow at a faster rate than sales of traditional tires in the future.

Tire subscription programs

Another opportunity for growth in the US tire market is the growing popularity of tire subscription programs. Tire subscription programs allow drivers to pay a monthly fee in exchange for access to a selection of different tires. These programs are becoming increasingly popular with drivers who want to reduce their costs and simplify their tire-buying experience. As the popularity of these programs grows, it is expected that more tire manufacturers will offer subscription programs in the future.

Consumer Trends and Insights

The US tire market is constantly evolving, and keeping up with the latest trends is essential for companies looking to stay ahead of the competition. In this blog section, we'll take a closer look at some of the most important consumer trends and insights that are shaping the market today.

One of the most important trends to keep an eye on is the increasing preference for premium tires. A recent study found that 43% of US consumers are willing to pay more for a tire that offers superior quality and performance. This trend is being driven by a number of factors, including the growing popularity of luxury vehicles and the increasing demands of modern driving conditions.

Another key trend to watch is the growing demand for all-season tires. As the name suggests, all-season tires are designed to provide optimal performance in all weather conditions. This makes them an ideal choice for consumers who want to be prepared for anything that Mother Nature might throw their way.

Finally, it's also worth keeping an eye on the growing popularity of tire recycling programs. These programs allow consumers to trade in their old tires for new ones, which helps to reduce waste and environmental impact. Many major tire manufacturers now offer recycling programs, so this is something that is definitely worthconsidering when making your next purchase.

Tire Recycling Programs

There are many programs available to recycle old tires. The most common way to recycle tires is through a process called tire-derived fuel, or TDF. TDF involves grinding up old tires and using them as fuel in power plants. This process helps to reduce the environmental impact of old tires while also providing a renewable source of energy.

Another way to recycle tires is through retreading. Retreading involves stripping the tread off of an old tire and replacing it with new tread. This process can extend the life of a tire by several thousand miles, and it helps to reduce the number of waste tires in landfills.

There are also many programs that collect used tires and recycle them into new products. These products range from playground equipment to rubber mulch for landscaping. By recycling old tires, we can help to reduce waste and create new products that can be used in our homes and communities.

Tire Manufacturing and Environmental Issues

Tire manufacturing is a complex and energy-intensive process. It involves a number of steps, including vulcanization, which uses high temperatures and chemicals to strengthen the rubber. This process can release harmful emissions into the air, including carbon dioxide (CO2), nitrogen oxides (NOx), sulfur dioxide (SO2), and particulate matter (PM).

In addition to environmental concerns, tire manufacturing also raises other issues, such as worker safety. The high temperatures and chemicals used in the vulcanization process can pose a risk to workers if they are not properly protected. There have been cases of workers suffering from chemical burns, respiratory problems, and other health issues as a result of exposure to these substances.

Environmental concerns are a major issue in the US tire market. Some companies have been working to reduce their environmental impact by investing in cleaner production technologies, such as those that capture and recycle emissions. However, there is still room for improvement in this area, and more needs to be done to reduce the environmental impact of tire manufacturing.

Tire Supply Chain and Logistics

Rubber is a major component of tires, and the price of rubber fluctuates based on global supply and demand conditions. This can make it difficult for tire companies to predict their costs and pricing, and can squeeze margins if prices rise unexpectedly.

To combat this, many tire companies are focused on improving their supply chain management and procurement processes. By working closely with suppliers, they can better forecast costs and manage inventory levels. In addition, many companies are investing in new technologies that can help them track trends in the market and optimize their operations.

The US tire market is also facing some challenges due to the current political environment. The Trump administration has imposed tariffs on imported tires, which has raised costs for US companies. In addition, the trade war with China has led to higher prices for Chinese-made tires. As a result, many tire companies are looking for ways to source tires from other countries.

Conclusion

The tire market in the United States is highly competitive, with a large number of companies vying for market share. Prices have been under pressure in recent years, and the industry is facing challenges from changing consumer preferences and new technologies. However, there are also opportunities for growth, particularly in the premium segment of the market. With careful planning and execution, companies can succeed in this tough marketplace.

Source: IndexBox Platform

This report provides an in-depth analysis of the tyre market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.


Product coverage:
• Prodcom 22111100 - New pneumatic rubber tyres for motor cars (including for racing cars)
• Prodcom 22111355 - New pneumatic rubber tyres for buses or lorries with a load index . .121
• Prodcom 22111357 - New pneumatic rubber tyres for buses or lorries with a load index > .121
• Prodcom 22111370 - New pneumatic rubber tyres for aircraft
• Prodcom 22111200 - New pneumatic tyres, of rubber, of a kind used on motorcycles or bicycles
• Prodcom 22111400 - Agrarian tyres, other new pneumatic tyres, of rubber
Country coverage:
• United States

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in the U.S.
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2012–2021
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2012–2021
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2021
Table 2:
Market Volume, In Physical Terms, 2012–2021
Table 3:
Market Value, 2012–2021
Table 4:
Per Capita Consumption In 2007-2021
Table 5:
Imports, In Physical Terms, By Country, 2012–2021
Table 6:
Imports, In Value Terms, By Country, 2012–2021
Table 7:
Import Prices, By Country Of Origin, 2012–2021
Table 8:
Exports, In Physical Terms, By Country, 2012–2021
Table 9:
Exports, In Value Terms, By Country, 2012–2021
Table 10:
Export Prices, By Country Of Destination, 2012–2021
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2021
Figure 2:
Market Value, 2012–2021
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007-2021
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007-2021
Figure 5:
Trade Balance, In Physical Terms, 2007-2021
Figure 6:
Trade Balance, In Value Terms, 2007-2021
Figure 7:
Per Capita Consumption, 2007-2021
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2012–2021
Figure 21:
Production, In Value Terms, 2012–2021
Figure 22:
Imports, In Physical Terms, 2012–2021
Figure 23:
Imports, In Value Terms, 2012–2021
Figure 24:
Imports, In Physical Terms, By Country, 2021
Figure 25:
Imports, In Physical Terms, By Country, 2012–2021
Figure 26:
Imports, In Value Terms, By Country, 2012–2021
Figure 27:
Import Prices, By Country Of Origin, 2012–2021
Figure 28:
Exports, In Physical Terms, 2012–2021
Figure 29:
Exports, In Value Terms, 2012–2021
Figure 30:
Exports, In Physical Terms, By Country, 2021
Figure 31:
Exports, In Physical Terms, By Country, 2012–2021
Figure 32:
Exports, In Value Terms, By Country, 2012–2021
Figure 33:
Export Prices, By Country Of Destination, 2012–2021
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