North America Tyre Market Outlook, 2029

North America represents one of the largest tire markets accounting to escalating demand for automobiles as a result of outpaced economy and high disposable income of consumers. Apart from this, increasing number of infrastructure projects, developed construction industry and high demand for replacement tires in the region have fuelled the tire market. Expanding vehicle fleet for agricultural purposes along with the new technological advancements will continue to spur the demand in the upcoming years. Furthermore, various efforts by governments of different countries in North America toward encouraging the adoption of Electric Vehicles (EVs) to address environmental issues & curb carbon emissions are displaying a growing number of vehicles in the region. As a result, the leading tire manufacturers are actively working on upgrading their product offerings to suffice the requirements of EVs, which is another crucial aspect expected to drive the market through 2029. Automotive tire is the circular vehicle component made of rubber used to cover the wheel’s rim externally. The major function of the tire is to protect the wheel rim and offer tractive force between the road surface and the vehicle. Since it is manufactured from rubber, it also provides a flexible cushion, thereby reducing the impact of the vibrations and absorbs the shock of the vehicle. Rubber tire consists of tread, joint less cap piles, beads, and other materials, which include synthetic rubber, carbon black, and fabric. According to the research report "North America Tyre Market Overview, 2029," published by Bonafide Research, the North America Tyre market was valued at more than USD 85 Billion in 2023. The North America tyre market is developed well progressed towards maturity. As vehicles are getting more efficient, roads are getting smoother; the North American tyre market finds itself on a suitable pedestal to grow upon. In order to assess and study the regional trends and patterns in the North America tyre market, the research has been approached by looking at the market through appropriate segments and classification. The segments that aided in the comprehensive evaluation of the markets were based on vehicle types, end-use demand, and the demand of tyres on the basis of their construction design. To have a broader understanding of the North America landscape of the tyre market, further segmentation has been made based on countries, and the sales channels through which the products are made available to the distributors and customers. As the North American region is highly developed economically, where the automotive industry is well penetrated, the radial tyres have one of the highest adoption rates in the region as compared to the rest of the world. When the market is segmented on the basis of vehicle types, it has been observed that the LCV tyres were the most demanded in the region historically from 2018 to 2023. One of the reasons for the higher growth is due to the expansion of urban inter and intra city logistics in the region facilitating small and growing businesses.

The tire market in North America is segmented into various categories, each catering to specific vehicle types and usage demands. The primary segments include passenger cars, lightweight commercial vehicles, heavy commercial vehicles, two-wheelers, and three-wheelers. Passenger Car Tires: This segment remains robust, driven by the increasing demand for fuel-efficient and environmentally friendly tires. Innovations in tire technology, such as low rolling resistance designs, are enhancing performance while reducing fuel consumption. Lightweight Commercial Vehicle Tires: This category focuses on vehicles such as vans and light trucks. The demand for these tires is growing due to the rise in e-commerce and last-mile delivery services. Manufacturers are developing tires that offer durability and performance under varying urban conditions, with products designed to minimize downtime and maintenance costs. Heavy Commercial Vehicle Tires: This segment includes tires for trucks and buses, where durability and performance are critical. Recent developments emphasize lighter materials that enhance fuel efficiency without compromising strength. For instance, innovations like optimized wheel designs have led to lighter steel wheels that improve payload capacity while reducing emissions. The trend towards retreading also supports sustainability in this segment, extending the life cycle of tires and reducing waste. Two-Wheeler Tires: The two-wheeler market, encompassing motorcycles and scooters, is experiencing growth due to urbanization and the rising popularity of these vehicles for personal transport. Manufacturers are focusing on enhancing grip and stability while maintaining lightweight designs to improve fuel efficiency. Three-Wheeler and Others: This category includes specialized vehicles used for goods transportation in urban settings. The demand for three-wheeler tires is increasing as they are often more maneuverable in congested areas, making them ideal for delivery services. Innovations in tire technology are aimed at improving load capacity and durability under diverse road conditions. Radial tires feature a construction where the cord plies are arranged at 90 degrees to the direction of travel. This design allows for flexible sidewalls and a stiffer tread area, resulting in several advantages over bias-ply tires. Radials are known for their lower rolling resistance, which translates into better fuel efficiency and longer tread life. These benefits have led to a significant shift in the North American market, where radial tires have become the standard for passenger vehicles and are increasingly adopted in commercial applications. For example, companies like Giti Tire have introduced urban/light-duty tires designed specifically for challenging conditions, featuring wide footprints for better grip and advanced casing constructions for improved handling and comfort. The trend towards radial tires is further supported by their ability to reduce maintenance costs due to fewer punctures and longer service life compared to bias-ply alternatives. Bias-ply tires, characterized by their plies arranged diagonally, offer certain advantages that make them suitable for specific applications. They typically have thicker sidewalls, providing enhanced cut resistance and stability under heavy loads. This makes them a preferred choice for certain construction equipment and trailers, where durability and load-bearing capacity are paramount. Despite the growing popularity of radials, bias-ply tires still hold approximately half of the market share in North America, particularly in sectors where their unique properties are beneficial. Innovations in this segment include the development of bias-belted tires that incorporate stabilizing layers made from advanced materials like Kevlar, enhancing performance while maintaining the traditional advantages of bias construction. OEM Tires are those specified by vehicle manufacturers and fitted to new vehicles at the factory. These tires are designed to meet specific performance standards set by the car manufacturer, balancing attributes such as ride comfort, handling, fuel efficiency, and durability. The demand for OEM tires is driven by the growing automotive industry, with significant investments made by manufacturers in developing tires that align with their vehicles' performance characteristics. Distribution channels for OEM tires typically involve direct partnerships between tire manufacturers and automotive companies, ensuring that the right tires are available for new vehicle production. This segment is projected to grow significantly, reflecting an increasing awareness of tire longevity and performance among consumers. Replacement tires are purchased after the original tires have worn out or been damaged. This segment allows consumers greater flexibility in selecting tires that match their driving habits and preferences. Replacement tires can be further divided into subcategories such as all-season, winter, and performance tires, catering to diverse consumer needs. The distribution of replacement tires is more varied and includes retail tire shops, online marketplaces, and automotive service centers. Consumers often rely on tire specialists for recommendations based on their driving conditions and vehicle specifications. The North American market for replacement tires is substantial, with a significant portion of sales occurring through independent tire dealers and national chains. The growth in this segment is fueled by factors such as increased vehicle ownership, a rise in e-commerce for tire sales, and a growing emphasis on vehicle maintenance among consumers.

Make this report your own

Have queries/questions regarding a report?

Take advantage of intelligence tailored to your business objective

Ask an Expert

Manmayi Raval

Research Consultant

The United States leads the North American tire market due to a combination of factors that enhance its position as a dominant player in the industry. Firstly, the U.S. boasts one of the largest automotive markets globally, which significantly drives the demand for both original equipment manufacturer (OEM) and replacement tires. The prevalence of SUVs and light trucks has further fueled this demand, as these vehicle types require specialized tires that cater to their performance and safety needs. Additionally, the high vehicle ownership rate in the U.S. contributes to a robust replacement tire market, as consumers frequently seek new tires to maintain safety and performance standards. Moreover, stringent safety regulations and performance standards enforced by organizations such as the National Highway Traffic Safety Administration (NHTSA) ensure that tire manufacturers focus on producing high-quality products that meet consumer expectations. This regulatory environment not only fosters innovation but also enhances consumer confidence in the products available in the market. The presence of major tire manufacturers like Goodyear, Bridgestone, and Michelin further solidifies the U.S.'s leadership position, as these companies invest heavily in research and development to introduce advanced tire technologies, including smart tires and eco-friendly options. COVID-19 Impact The Covid-19 pandemic affected almost every industry vertical across the globe and the tire market in the region of North America was no exception. The enforcement of lockdowns along with the travel restrictions across countries significantly affect the tire market. The situation of lockdowns caused production in the automobile industry to stop which affected the demand from the OEM sector. On the other hand the market was also observing decline from the replacement sector during the pandemic as the requirement for new tires declined. Key Players Apollo Tires, Bridgestone, CEAT Tires, Continental, Giti, Goodyears Tires, Hankook, JK tires, Kenda Kumho, Maxxis International, Michelin, MRF, Nexen Tire Corp, Nokian Tires, Pirelli, Sailun Group Co., Ltd, Sumitomo Rubber Industries, Titan International , Toyo Tire Corporation, Triangle Tire Co, Zhongce Rubber Group Co, Yokohama, Doublestar Tire, Linglong, Nankang

Don’t pay for what you don’t need. Save 30%

Customise your report by selecting specific countries or regions

Specify Scope Now

Considered in the report • Geography: North America • Base Year: 2023 • Historical year: 2018 • Forecasted Year: 2029 Countries covered • USA • Canada • Mexico • Rest of North America Aspects covered in the report • Market Size by Value (2018-2029F) • Market Size by Volume (2018-2029F) • Market Share by Vehicle Type • Market Share by End Use • Market Share by Design • Market Share by Sales Channel • Market Share by Country The approach of the report: We keep an eye on evolving markets and try to evaluate the potential of the products and services. If we find the market interesting, we start working on it and create the desired table of content, considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personnel, company owners, dealers, distributors, and end-users. Once the questionnaires have been finalized, we start collecting the primary data (mostly through phone calls) and try to understand the market dynamics regionally or tier-wise. This process gives us in-depth details of the market, including all present companies, the top-performing products with reasons why they dominate; we get the details of new players and their innovative approaches; market trends; dynamics; and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. From this, we get a rough estimate of the market and start checking existing product price variants, trade, production, raw material scenarios, policies and regulatory landscape, etc. Then, to finalize the market, we start collecting financials of each player present in the market, including limited, private limited, and LLPs. Moreover, we perform cross-industry and cross-region analysis of the product, and based on collected primary inputs and using statistical modeling, we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but gives more weight age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together crosscheck the segmentations, validate the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in the form of strategic recommendations for new as well as existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free. Intended Audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Automotive and Transport industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.