U.S.: Tyre Market 2024

Tyre Market Size in the U.S.

In 2022, the U.S. tyre market increased by X% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. Tyre consumption peaked in 2022 and is expected to retain growth in the immediate term.

Tyre Production in the U.S.

In value terms, tyre production reached $X in 2022. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Tyre production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

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Tyre Exports

Exports from the U.S.

In 2022, overseas shipments of tyres increased by X% to X units, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, recorded a perceptible reduction. The pace of growth appeared the most rapid in 2014 when exports increased by X%. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, tyre exports expanded notably to $X in 2022. In general, exports, however, showed a slight decrease. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Canada (X units), Mexico (X units) and Germany (X units) were the main destinations of tyre exports from the United States, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Canada ($X), Mexico ($X) and Australia ($X) were the largest markets for tyre exported from the United States worldwide, with a combined X% share of total exports. Germany and South Korea lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Germany, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average tyre export price amounted to $X per unit, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per unit), while the average price for exports to South Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Tyre Imports

Imports into the U.S.

In 2022, tyre imports into the United States rose slightly to X units, picking up by X% compared with the previous year. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, tyre imports surged to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Thailand (X units), China (X units) and Mexico (X units) were the main suppliers of tyre imports to the United States, together accounting for X% of total imports. Vietnam, Indonesia, South Korea, Canada, Japan, Taiwan (Chinese), Chile, the Philippines, Brazil and India lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest tyre suppliers to the United States were Thailand ($X), Mexico ($X) and Japan ($X), together comprising X% of total imports. Canada, Vietnam, China, South Korea, Indonesia, India, Brazil, Chile, Taiwan (Chinese) and the Philippines lagged somewhat behind, together comprising a further X%.

Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average tyre import price stood at $X per unit in 2022, with an increase of X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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