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 consecutive year 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 somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Tyre Production in the U.S.

In value terms, tyre production totaled $X in 2022. Overall, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Tyre Exports

Exports from the U.S.

In 2022, shipments abroad of tyres increased by X% to X units, rising for the second consecutive year after two years of decline. In general, exports, however, showed a pronounced decrease. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, tyre exports dropped to $X in 2022. Over the period under review, exports, however, recorded a noticeable downturn. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

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, the largest markets for tyre exported from the United States were Mexico ($X), Canada ($X) and Australia ($X), together comprising X% 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 rates of growth with regard to 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

The average tyre export price stood at $X per unit in 2022, with a decrease of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2015 when the average export price increased by X%. The export price peaked at $X per unit in 2021, and then fell in the following year.

Prices varied noticeably by country of destination: 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, the amount of tyres imported into the United States expanded to X units, with an increase of X% compared with 2021. 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 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

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 being recorded in certain years. 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 Malaysia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

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

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

Import Prices by Country

In 2022, the average tyre import price amounted to $X per unit, growing by X% against the previous year. Overall, the import price, however, continues to indicate a slight descent. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Japan ($X per unit), while the price for Taiwan (Chinese) ($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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