IMARC Group, a leading market research company, has recently releases report titled “North America Tire Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the North America tire market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How Big is the North America Tire Market?

The North America tire market size reached 385.5 Million Units in 2022. Looking forward, IMARC Group expects the market to reach 455.0 Million Units by 2028, exhibiting a growth rate (CAGR) of 3% during 2023-2028.

What is a Tire?

A tire is a crucial automotive component designed to provide traction, support, and a cushioning effect between a vehicle and the road surface. It is typically made of rubber and other materials, including fabric and steel, which are layered and bonded together. Tires are engineered to withstand the weight of the vehicle while ensuring optimal grip and stability, especially during acceleration, braking, and cornering. Tires come in various types, including summer tires for warm weather, winter tires with specialized tread patterns for cold and snowy conditions, and all-season tires that provide a balance of performance in different weather conditions. They are also categorized by their intended use, such as passenger car tires, truck tires, and off-road tires.

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What are the Growth Prospects and Trends in the North America Tire Market?

Advancements in tire technology, such as run-flat tires, self-sealing tires, and smart tires with sensors, represents one of the key factors driving the growth of the market across North America. The level of vehicle sales and ownership in North America is directly impacting the market. As the number of vehicles on the road increases, so does the demand for replacement tires. Economic stability and growth in North America play a crucial role in tire market trends. When the economy is strong, consumers are more likely to purchase new vehicles, which is leading to increased tire sales. The presence of distinct seasons in North America drives the demand for seasonal tires. Winter tire sales increase in colder regions, while all-season tires are popular in milder climates. This seasonality influences tire market fluctuations. Consumer preferences for specific tire brands, types, and features like all-season, performance, or off-road tires impact market dynamics. Marketing and brand reputation play a significant role in consumer choices. The growth of e-commerce and online tire retailers is making it easier for consumers to research and purchase tires online. This trend is expanding the market reach and convenience of buying tires.

What is Included in Market Segmentation?

The report has categorized the market based on segment, application and country.

Segment Insights:

  • OEM Market
  • Replacement Market

Application Insights:

  • Passenger Car/ Light Truck
  • Commercial Tires (Trucks)
  • Commercial Tires (Off- Highway)

Country Insights:

  • United States
  • Canada

Competitive Landscape

  • Competitive Structure
  • Key Player Profiles

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Key Highlights of The Report:

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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