United States Tire Market to Reach 400.3 Million Units by 2032, Propelled by the Surging Demand for Vehicle Production

February 21, 2023 | Automotive Industry

The latest report by IMARC, titled “United States Tire Market Report by Design (Radial, Bias), End-Use (OEM, Replacement), Vehicle Type (Passenger Cars, Light Commercial Vehicles, Medium and Heavy Commercial Vehicles, Two Wheelers, Three Wheelers, Off-The-Road (OTR)), Distribution Channel (Offline, Online), Season (All Season Tires, Winter Tires, Summer Tires), and Region 2024-2032”, finds that the United States tire market size reached 350.6 Million Units in 2023. Tire refers to a thick ring made of rubber that is inflated and installed over the outer edge or the rim of the vehicle wheel. It provides friction and enables the vehicle to travel on the road more easily. They are also manufactured from materials like fabric, steel wires, synthetic rubber, carbon black, silica, and vulcanization accelerator. It is also used to enable effective shock absorption and reduced vibrations. In recent years, tires have gained momentum as they offer numerous advantages, such as braking forces to the surface, even distribution of vehicular weight on the road, maintaining the direction of travel, and improved vehicle landing.

United States Tire Market Trends:

One of the primary factors driving the market is the surging demand for vehicle production in the United States. Additionally, the exponential growth in the automobile sector is creating a positive market outlook. Other than this, the rising sales of luxury, passenger, and electric vehicles (RVs) due to the expanding income levels of the masses and rapid urbanization, is positively influencing the market growth. Besides this, the growing environmental concerns and the increasing support by the Federal Government of the United States (U.S. Federal Government) to promote eco-friendly and sustainable manufacturing techniques in the production procedure are catalyzing the market growth. In line with this, key players are recovering and recycling used tires to conserve the energy needed to manufacture new ones. Moreover, the increasing number of logistics and transportation activities to deliver packages, along with the rising number of farming activities in the agriculture sector are escalating the product demand across the country. Looking forward, IMARC Group expects the market volume to reach 400.3 Million Units by 2032, expanding at a CAGR of 1.4% during the forecast period (2024-2032).

Market Summary:

  • Based on the design, the market has been bifurcated into radial and bias.
  • On the basis of the end use, the market has been segregated into OEM and replacement.
  • Based on the vehicle type, the market has been segmented into passenger cars, light commercial vehicles, medium and heavy commercial vehicles, two wheelers, three wheelers, and off-the-road (OTR).
  • On the basis of the distribution channel, the market has been categorized into offline and online.
  • Based on the season, the market has been divided into all season tires, winter tires, and summer tires.
  • Region-wise, the market has been classified into Northeast, Midwest, South, and West.
  • The competitive landscape of the market has also been analyzed, along with detailed profiles of the key players operating in the industry.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units Million Units
Segment Coverage Design, End-Use, Vehicle Type, Distribution Channel, Season, Region
Region Covered Northeast, Midwest, South, West
Customization Scope 10% Free Customization
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Post-Sale Analyst Support 10-12 Weeks
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United States Tire Market to Reach 400.3 Million Units by 2032, Propelled by the Surging Demand for Vehicle Production
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