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NORTH AMERICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET FORECAST 2022-2030

The North America tire aftermarket, tire replacement market is set to be valued at $17.18 billion by 2030, propelling with a 3.60% CAGR during the estimation years, 2022-2030.

NORTH AMERICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET FORECAST 2022-2030

North America Tire Aftermarket, Tire Replacement Market by Tire Type (Radial Tire, Bias Tire) Market by Rim Size (13-5 Inches, 16-18 Inches, 19-21 Inches, More Than 21 Inches) Market by Distribution Channel (Original Equipment Supplier, Independent Aftermarket) by Geography

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The North America tire aftermarket, tire replacement market is set to be valued at $17.18 billion by 2030, propelling with a 3.60% CAGR during the estimation years, 2022-2030.

North America is home to major automotive companies, thereby increasing the need for automotive components. Moreover, the United States and Canada enjoy a high per capita income leading to increased investments in recreational racing and the customization of tires. These significant factors are driving the market growth in the region.

North America Tire Aftermarket, Tire Replacement Market

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The North America tire aftermarket, tire replacement market growth study entails a thorough assessment of Canada and United States. Most aftermarket categories in the United States are seeing record or near-record sales. The automotive tire aftermarket is thriving in the United States due to the country’s well-established vehicle industry. The automobile industry’s aftermarket comprises vehicle services and components businesses. Almost all wheeled land vehicles, whether off-road or on-road, need tires. Because of this dependency, the tire sector is a critical component of the United States automotive industry.

Furthermore, major market players intend to collaborate on creating an intelligent braking system. In addition, according to Universal Technical Institute, the United States has 239,100 auto repair and maintenance centers. These after-sales mechanisms offer a vital support system to automotive vehicles in providing tire replacements. Hence, the extensive development of the automotive sector presence of tire manufacturing companies and service centers are the growth enablers of the United States tire aftermarket, tire replacement market.

The North America tire aftermarket, tire replacement market evaluation covers segmentation by rim size, tire type, and distribution channel. Market by rim size includes 16-18 inches, 19-21 inches, 13-15 inches, and more than 21 inches.

The size of the rims affects the car’s performance, noise levels, comfort, and fuel efficiency. Reducing tire sidewall height results in quicker performance and improved handling; nevertheless, bigger wheels might influence ride quality, making for a jittery driving experience. As a result, firms in the automobile tire aftermarket are focused on strategic alliances and innovation to supply high-end goods and meet expanding customer demand.

The 19-21 rim size segment is anticipated to observe significant growth in the Automotive Tire Aftermarket Market. As bigger tires and wheels are better for increasing the vehicle’s traction, the 19-21 rim size segment is anticipated to grow significantly. The enhanced performance of the 19-21 rim size segment, such as sharper turn-in and more mid-corner balance, is anticipated to propel the segment growth.

Market manufacturers provide products for rim sizes larger than 21, but the market for this category is still modest. The greater the rim size, the more difficult and costly it is to obtain replacement tires. There are a few tire manufacturers who produce more than 21 sector rim sizes for big tires, but this issue is largely preventable in vehicle dealerships, which is expected to enhance the segment’s growth.

Prominent players in the North America tire aftermarket, tire replacement market include Goodyear Tires, Maxxis, Cooper Tire & Rubber Company, the Yokohama Rubber Co Ltd, etc.

Maxxis is an automotive company that manufactures tires. It offers tire products for bicycles, light trucks, motorcycles, karts, cars, ATVs, trailers, etc. The company is headquartered in  Suwanee, United States.

Victra Sport 5 VS5, S PRO, and Campro MAC2 are some of the most popular products from Maxxis. Victra Sport 5 VS5 provides high-performance tires for track days, hot hatches, and sports cars. On the other hand, the S PRO tire is designed to provide a quiet ride with a smooth and decent grip for contemporary SUVs. Campro MAC2 helps camping professionals meet performance, comfort, and durability demands.

Report Synopsis

Report Scope

Details
Market Forecast Years 2022-2030
Base Year 2021
Market Historical Years 2018-2021
Forecast Units Revenue ($ Billion)
Segments Analyzed Tire Type, Rim Size, Distribution Channel
Countries Analyzed United States and Canada
Companies Analyzed

Apollo Tyres, Bridgestone Corporation, CEAT Limited, Continental AG, Goodyear Tires, Hankook Tire & Technology Co Ltd, JK Tyre, Maxxis, Michelin, MRF, NEXEN TIRE Corporation, Pirelli & C SpA, Sumitomo Rubber Industries Ltd, The Yokohama Rubber Company, Toyo Tires

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    1. RESEARCH SCOPE & METHODOLOGY
      • STUDY OBJECTIVES
      • SCOPE OF STUDY
      • METHODOLOGY
      • ASSUMPTIONS & LIMITATIONS
    2. EXECUTIVE SUMMARY
      • MARKET SIZE & ESTIMATES
      • MARKET OVERVIEW
    3. MARKET DYNAMICS
      • KEY DRIVERS
        • GREATER REQUIREMENT FOR ENERGY-EFFICIENT TIRES
        • STRINGENT GOVERNMENT REGULATIONS REGARDING TIRE LABELING
      • KEY RESTRAINTS
        • VOLATILE PRICES OF RUBBER AND OTHER AUTOMOTIVE RAW MATERIALS
    1. KEY ANALYTICS
      • IMPACT OF COVID-19 ON TIRE AFTERMARKET, TIRE REPLACEMENT MARKET
      • KEY MARKET TRENDS
      • PORTER’S FIVE FORCES ANALYSIS
        • BUYERS POWER
        • SUPPLIERS POWER
        • SUBSTITUTION
        • NEW ENTRANTS
        • INDUSTRY RIVALRY
      • OPPORTUNITY MATRIX
      • VENDOR LANDSCAPE
      • REGULATORY FRAMEWORK
    2. MARKET BY TIRE TYPE
      • RADIAL TIRE
      • BIAS TIRE
    3. MARKET BY RIM SIZE
      • 13-15 INCHES
      • 16-18 INCHES
      • 19-21 INCHES
      • MORE THAN 21 INCHES
    4. MARKET BY DISTRIBUTION CHANNEL
      • ORIGINAL EQUIPMENT SUPPLIER
      • INDEPENDENT AFTERMARKET
    5. GEOGRAPHICAL ANALYSIS
      • NORTH AMERICA
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • UNITED STATES
          • CANADA
    1. COMPETITIVE LANDSCAPE
      • KEY STRATEGIC DEVELOPMENTS
        • MERGERS & ACQUISITIONS
        • PRODUCT LAUNCHES & DEVELOPMENTS
        • PARTNERSHIPS & AGREEMENTS
        • BUSINESS EXPANSIONS & DIVESTITURES
      • COMPANY PROFILES
        • APOLLO TYRES
        • BRIDGESTONE CORPORATION
        • CEAT LIMITED
        • CONTINENTAL AG
        • GOODYEAR TIRES
        • HANKOOK TIRE & TECHNOLOGY CO LTD
        • JK TYRE
        • MAXXIS
        • MICHELIN
        • MRF
        • NEXEN TIRE CORPORATION
        • PIRELLI & C SPA
        • SUMITOMO RUBBER INDUSTRIES LTD
        • THE YOKOHAMA RUBBER COMPANY
        • TOYO TIRES

    LIST OF TABLES

    TABLE 1: MARKET SNAPSHOT – TIRE AFTERMARKET, TIRE REPLACEMENT

    TABLE 2: REGULATORY FRAMEWORK

    TABLE 3: NORTH AMERICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY TIRE TYPE, HISTORICAL YEARS, 2018-2021 (IN $ BILLION)

    TABLE 4: NORTH AMERICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY TIRE TYPE, FORECAST YEARS, 2022-2030 (IN $ BILLION)

    TABLE 5: NORTH AMERICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY RIM SIZE, HISTORICAL YEARS, 2018-2021 (IN $ BILLION)

    TABLE 6: NORTH AMERICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY RIM SIZE, FORECAST YEARS, 2022-2030 (IN $ BILLION)

    TABLE 7: NORTH AMERICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY DISTRIBUTION CHANNEL, HISTORICAL YEARS, 2018-2021 (IN $ BILLION)

    TABLE 8: NORTH AMERICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY DISTRIBUTION CHANNEL, FORECAST YEARS, 2022-2030 (IN $ BILLION)

    TABLE 9: NORTH AMERICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ BILLION)

    TABLE 10: NORTH AMERICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ BILLION)

    TABLE 11: LEADING PLAYERS OPERATING IN NORTH AMERICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET

    TABLE 12: LIST OF MERGERS & ACQUISITIONS

    TABLE 13: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

    TABLE 14: LIST OF PARTNERSHIPS & AGREEMENTS

    TABLE 15: LIST OF BUSINESS EXPANSIONS & DIVESTITURES

    LIST OF FIGURES

    FIGURE 1: KEY MARKET TRENDS

    FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

    FIGURE 3: OPPORTUNITY MATRIX

    FIGURE 4: VENDOR LANDSCAPE

    FIGURE 5: NORTH AMERICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, GROWTH POTENTIAL, BY TIRE TYPE, IN 2021

    FIGURE 6: NORTH AMERICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY RADIAL TIRE, 2022-2030 (IN $ BILLION)

    FIGURE 7: NORTH AMERICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY BIAS TIRE, 2022-2030 (IN $ BILLION)

    FIGURE 8: NORTH AMERICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, GROWTH POTENTIAL, BY RIM SIZE, IN 2021

    FIGURE 9: NORTH AMERICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY 13-15 INCHES, 2022-2030 (IN $ BILLION)

    FIGURE 10: NORTH AMERICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY 16-18 INCHES, 2022-2030 (IN $ BILLION)

    FIGURE 11: NORTH AMERICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY 19-21 INCHES, 2022-2030 (IN $ BILLION)

    FIGURE 12: NORTH AMERICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY MORE THAN 21 INCHES, 2022-2030 (IN $ BILLION)

    FIGURE 13: NORTH AMERICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, GROWTH POTENTIAL, BY DISTRIBUTION CHANNEL, IN 2021

    FIGURE 14: NORTH AMERICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY ORIGINAL EQUIPMENT SUPPLIER, 2022-2030 (IN $ BILLION)

    FIGURE 15: NORTH AMERICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY INDEPENDENT AFTERMARKET, 2022-2030 (IN $ BILLION)

    FIGURE 16: NORTH AMERICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, COUNTRY OUTLOOK, 2021 & 2030 (IN %)

    FIGURE 17: UNITED STATES TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, 2022-2030 (IN $ BILLION)

    FIGURE 18: CANADA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, 2022-2030 (IN $ BILLION)      

    1. GEOGRAPHICAL ANALYSIS
      • NORTH AMERICA
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • UNITED STATES
          • CANADA
    1. MARKET BY TIRE TYPE
      • RADIAL TIRE
      • BIAS TIRE
    2. MARKET BY RIM SIZE
      • 13-15 INCHES
      • 16-18 INCHES
      • 19-21 INCHES
      • MORE THAN 21 INCHES
    3. MARKET BY DISTRIBUTION CHANNEL
      • ORIGINAL EQUIPMENT SUPPLIER
      • INDEPENDENT AFTERMARKET

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    We offer 10% free customization including country-level data, niche applications and competitive landscape with every report.


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