Tire Dealers in the US - Industry Market Research Report

Tire Dealers in the US - Industry Market Research Report

Tire Dealers in the US

Tire Dealers industry retail tires and tire tubes for passenger cars, sport utility vehicles and commercial trucks. The industry has encountered mixed conditions over the past five years. Rising consumer spending through 2019, prior to the COVID-19 pandemic, led to increasing vehicle miles, as more families favored personal vehicles over public transportation. Consequently, demand for tires and maintenance services grew, benefiting the industry. Positive economic conditions also enabled more consumers to purchase premium replacement tires, aiding revenue growth. However, lower commodity prices and heightened price competition constrained industry revenue growth during the period. Furthermore, weak demand during the pandemic due to delaying nonessential purchases and reducing vehicle miles for consumers and commercial operations, alike, further pressured industry performance during the period. Still, industry revenue is expected to rise, growing at an annualized rate of 1.5% to $45.6 billion over the five years to 2023, including an expected 3.8% increase in 2023 alone as demand continues to slump.

The Tire Dealers industry retails tires and tire tubes for passenger cars, sport utility vehicles and commercial trucks. Businesses that offer maintenance services in addition to tire sales are included in this industry; however, mail order and online tire sellers are excluded.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.