According to the MRFR, the US commercial tire market is estimated to be worth USD 70,068.9 million in 2032, up from USD 36,875.5 million in 2023, representing a 6.9% CAGR.
The agricultural sector, with its large number of farms and reliance on durable tires for equipment such as tractors and harvesters, continues to promote tire innovation, which is driving market expansion.
The sustainability of materials used in tire manufacturing is positively changing the face of the US commercial tire sector by encouraging environmental stewardship and the advancement of current technology. This shift addresses the issue of ecological and customer expectations for sustainable behavior.
Market Segment insights
The US commercial tire industry is divided into five categories: steer tires, drive tires, trailer tires, all axles, and agricultural and off-road tires. Steer tires are mounted on the front axles of commercial vehicles and are critical for vehicle handling, steering, and stabilization.
The commercial tire industry in the United States is divided into four categories based on use: long haul tires, regional haul tires, city tires, and all-terrain/off-road tires.
The US commercial tire industry is divided into two segments based on construction type: radial and bias ply. Radial tires are made of layers of steel belts that extend radially from the center of the tire, resulting in a flexible and robust structure.
The market is divided into five segments based on vehicle type: trucks, buses and coaches, agricultural and off-road vehicles, industrial vehicles, and construction vehicles.
The market has been divided into two segments based on vehicle propulsion: ICE and electric.
The US commercial tire market is divided into two segments based on end use: OEM and Replacement (online and offline/retail).
The market is divided into three segments based on size: below 20 inches, 20 inches to 40 inches, and 40 inches and above.
Based on road cars. The market has been categorized by GVW into Class 3 (4,536 to 6,350 kg), Class 4 (6,351 to 7,257 kg), Class 5 (7,258 to 8,845 kg), Class 6 (8,846 to 11,793 kg), Class 7 (11,794 to 14,969 kg), and Class 8 (above 14,969 kg).
Regional insights
The commercial tire market in the United States is divided into five regions: northwest, southeast, west, southeast, and Midwest. The growing construction sector in the United States is also driving the commercial tire market, as construction equipment requires high-end/special tires. In 2023, the construction industry will have about 919,000 firms and 8 million employees, with an annual revenue of over $2.1 trillion in the United States. This thriving industry serves a variety of industries, including manufacturing and mining, underlining the importance of dependable commercial tires for maintaining operating efficiency.
Major Players
THE GOODYEAR TIRE & RUBBER COMPANY, MICHELIN, CONTINENTAL AG, BRIDGESTONE CORPORATION, THE YOKOHAMA RUBBER CO., LTD., KUMHO TIRE CO., INC, NEXEN TIRE, BALKRISHNA INDUSTRIES LTD. (BKT TIRES), HANKOOK TIRE & TECHNOLOGY, and TOYO TIRE CORPORATION, among others, are key players in the Commercial Tire market.
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