Tire Manufacturing in the US - Industry Market Research Report
Description
Tire Manufacturing in the US
Tire manufacturers produce tires for a variety of purposes, in addition to inner tubes and tire repair materials. The steadily rising number of total vehicle miles in the United States and the low price of rubber created healthy operating conditions for tire manufacturers leading up to the outbreak of COVID-19. But as measures were put into place to combat the spread of the virus, domestic travel came to a halt. This caused profit to shrink as revenue dried up while operating costs remained constant. As pandemic-related disruptions ended, domestic travel renewed and the price of rubber fell slightly, providing a bright spot for manufacturers. The lack of new car sales tempered this growth, resulting in overall revenue falling at a CAGR of 2.5% to $23.7 billion over the past five years, including a drop of 1.2% in 2023 alone.
This industry manufactures aircraft and motor vehicle tires, inner tubes and tire repair materials. The finished products are then sold to aircraft and motor vehicle manufacturers and tire wholesalers. Operators do not retread tires.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Tire manufacturers produce tires for a variety of purposes, in addition to inner tubes and tire repair materials. The steadily rising number of total vehicle miles in the United States and the low price of rubber created healthy operating conditions for tire manufacturers leading up to the outbreak of COVID-19. But as measures were put into place to combat the spread of the virus, domestic travel came to a halt. This caused profit to shrink as revenue dried up while operating costs remained constant. As pandemic-related disruptions ended, domestic travel renewed and the price of rubber fell slightly, providing a bright spot for manufacturers. The lack of new car sales tempered this growth, resulting in overall revenue falling at a CAGR of 2.5% to $23.7 billion over the past five years, including a drop of 1.2% in 2023 alone.
This industry manufactures aircraft and motor vehicle tires, inner tubes and tire repair materials. The finished products are then sold to aircraft and motor vehicle manufacturers and tire wholesalers. Operators do not retread tires.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
55 Pages
- ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
PRODUCTS & MARKETS
Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
KEY STATISTICS
Industry Data
Annual Change
Key Ratios
JARGON & GLOSSARY
Pricing
Currency Rates
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