United States Automotive Tire Replacement Market was valued at USD 22 Billion in 2022 and is projected to reach USD 30 Billion by 2030, growing at a CAGR of 4.5% from 2024 to 2030.
The US Automotive Tire Replacement Market is a significant segment of the country's automotive industry, driven by both consumer demand and commercial needs. As vehicles age and accumulate mileage, the need for replacement tires becomes a critical factor. The demand is largely shaped by factors like tire wear and tear, seasonal changes, and the continual innovation of tire technology. However, the market is not one-size-fits-all. There are distinct requirements and considerations from various industries, which directly influence the types of tires needed in the automotive tire replacement market.
For consumers, the primary factors in tire replacement decisions often include safety, performance, and price. As the average age of vehicles on the road increases, consumers are more likely to need replacement tires. This creates a steady demand for tires in the consumer sector. In addition, the growing popularity of electric vehicles (EVs) has introduced a new market for specialized tires designed to accommodate the unique needs of these vehicles, such as lower rolling resistance and higher durability.
On the industrial side, different sectors have specific requirements when it comes to tire replacement. For example, the transportation and logistics industry, which relies heavily on trucks and freight vehicles, demands tires with enhanced durability, load capacity, and longer service life. In contrast, agricultural vehicles require tires that can withstand tough terrains and weather conditions. Similarly, the construction industry needs tires for heavy-duty machinery that can perform under extreme conditions.
Furthermore, tire manufacturers continue to innovate, offering a variety of options such as all-season, winter, and performance tires. The variety of types available ensures that industries and consumers alike can find tires suited to their particular needs. Seasonal demands, like the increase in tire replacements before winter, further contribute to the cyclical nature of the market.
As the Automotive Tire Replacement Market evolves, trends like sustainability and eco-friendly tire options are gaining importance. Manufacturers are increasingly focused on creating tires that reduce carbon footprints, offering more environmentally conscious alternatives to traditional tire materials.
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Bridgestone Corporation
Continental AG
The Goodyear Tire & Rubber Company
Michelin
Pirelli & C. S.p.A
Sumitomo Corporation
CODA Development
Kumho Tires
Nokian Tyres
Hankook Tire & Technology
The Yokohama Rubber Company
Limited
Zhongce Rubber Group Co.
Ltd.
Maxxis Tyres
Giti Tire
Cooper Tire & Rubber Company
Shandong Linglong Tire Co.
Ltd.
Apollo Tyres Limited
MRF Tyre company
Sailun Group
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the US Automotive Tire Replacement Market
Passenger Car Tires
Light Truck Tires
Heavy Truck Tires
Two-Wheeler Tires
Commercial Vehicle Tires
Online Retail
Dedicated Tire Shops
Automotive Dealerships
Supermarkets and Hypermarkets
Wholesale Distributors
All-Season Tires
Winter Tires
Performance Tires
Off-Road Tires
Run-Flat Tires
Retail Sales
Wholesale Sales
Franchised Dealers
Direct-to-Consumer (D2C)
B2B Sales
Natural Rubber
Synthetic Rubber
Textiles
Metal
Other Materials
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the US Automotive Tire Replacement Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. US Automotive Tire Replacement Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. US Automotive Tire Replacement Market, By Type
6. US Automotive Tire Replacement Market, By Application
7. US Automotive Tire Replacement Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. US Automotive Tire Replacement Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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