Tire Manufacturing in the US - Industry Market Research Report

Tire Manufacturing in the US - Industry Market Research Report

Tire Manufacturing in the US

Tire manufacturers produce tires for a variety of purposes, in addition to inner tubes and tire repair materials. The steadily rising number of total vehicle miles in the United States and the low price of rubber created healthy operating conditions for tire manufacturers leading up to the outbreak of COVID-19. But as measures were put into place to combat the spread of the virus, domestic travel came to a halt. This caused profit to shrink as revenue dried up while operating costs remained constant. As pandemic-related disruptions ended, domestic travel renewed and the price of rubber fell slightly, providing a bright spot for manufacturers. The lack of new car sales tempered this growth, resulting in overall revenue falling at a CAGR of 2.5% to $23.7 billion over the past five years, including a drop of 1.2% in 2023 alone.

This industry manufactures aircraft and motor vehicle tires, inner tubes and tire repair materials. The finished products are then sold to aircraft and motor vehicle manufacturers and tire wholesalers. Operators do not retread tires.

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.