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The North America tire market reached a volume of 370 Million Units in 2020. Looking forward, IMARC Group expects the market to exhibit moderate growth during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Tire refers to a rubber covering, placed around the rim of metallic wheel to provide flexible cushion with road for traction and smooth acceleration. The modern pneumatic tires are generally made up of synthetic rubber, natural rubber, fabric, wire, carbon black and other chemical compounds. Best quality of tire helps in increasing vehicle’s performance, reduces wear and tear, minimizing rolling resistance, improves mileage and traction, and enhances grip for safety. Owing to this, tire has wide applications in two-wheelers, passenger vehicles, light and commercial trucks, buses, and military vehicles.
North America represents one of the largest tire markets accounting to escalating demand for automobiles as a result of outpaced economy and high disposable income of consumers. Apart from this, increasing number of infrastructure projects, developed construction industry and high demand for replacement tires in the region have fueled the tire market. Expanding vehicle fleet for agricultural purposes along with the new technological advancements will continue to spur the demand in the upcoming years.
IMARC Group’s latest report provides a deep insight into the North America tire market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the North America tire market in any manner.
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Report Customization: Although IMARC has tried to cover everything in the North America tire market landscape, we believe that every stakeholder may have their own specific needs. In view of this, we provide up to 20-man hours of free customization for each report.
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