U.S.: Passenger Car Tyre Market 2024

Passenger Car Tyre Market Size in the U.S.

After two years of decline, the U.S. passenger car tyre market increased by 3.9% to $X in 2021. The market value increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. Passenger car tyre consumption peaked in 2021 and is likely to see gradual growth in the immediate term.

Passenger Car Tyre Production in the U.S.

In value terms, passenger car tyre production dropped slightly to $X in 2021. The total output value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 18%. Passenger car tyre production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Passenger Car Tyre Exports

Exports from the U.S.

For the third consecutive year, the United States recorded decline in shipments abroad of tyres for motor cars, which decreased by -5% to X units in 2021. Over the period under review, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2014 when exports increased by 16%. As a result, the exports reached the peak of X units. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, passenger car tyre exports declined to $X in 2021. In general, exports showed a deep reduction. The most prominent rate of growth was recorded in 2018 with an increase of 1.6%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Canada (X units) was the main destination for passenger car tyre exports from the United States, with a 55% share of total exports. Moreover, passenger car tyre exports to Canada exceeded the volume sent to the second major destination, Mexico (X units), twofold. The third position in this ranking was taken by South Korea (X units), with a 4.4% share.

From 2012 to 2021, the average annual growth rate of volume to Canada amounted to -8.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-6.5% per year) and South Korea (+11.7% per year).

In value terms, the largest markets for passenger car tyre exported from the United States were Canada ($X), Mexico ($X) and Germany ($X), with a combined 79% share of total exports. South Korea, China, Japan and the United Arab Emirates lagged somewhat behind, together comprising a further 9.5%.

South Korea, with a CAGR of +12.2%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average passenger car tyre export price stood at $X per unit in 2021, with an increase of 4.7% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average export price increased by 15% against the previous year. The export price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+2.7%), while the prices for the other major destinations experienced more modest paces of growth.

Passenger Car Tyre Imports

Imports into the U.S.

In 2021, the amount of tyres for motor cars imported into the United States reached X units, picking up by 11% against the year before. The total import volume increased at an average annual rate of +2.4% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2015 when imports increased by 19% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, passenger car tyre imports expanded significantly to $X in 2021. In general, imports, however, saw a relatively flat trend pattern. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

Thailand (X units), Mexico (X units) and Indonesia (X units) were the main suppliers of passenger car tyre imports to the United States, with a combined 45% share of total imports. These countries were followed by South Korea, Canada, Vietnam, Japan, Chile, Taiwan (Chinese), Brazil, Malaysia, China and the Philippines, which together accounted for a further 42%.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +61.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest passenger car tyre suppliers to the United States were Thailand ($X), Mexico ($X) and Canada ($X), together comprising 42% of total imports. These countries were followed by South Korea, Indonesia, Japan, Vietnam, Chile, Brazil, Malaysia, Taiwan (Chinese), the Philippines and China, which together accounted for a further 39%.

Among the main suppliers, Malaysia, with a CAGR of +63.5%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average passenger car tyre import price amounted to $X per unit, with an increase of 2% against the previous year. Overall, the import price, however, saw a perceptible curtailment. The most prominent rate of growth was recorded in 2014 when the average import price increased by 13%. As a result, import price reached the peak level of $X per unit. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Canada ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+1.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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