US Tire Market to Experience 5% Growth in the Offing, Predicts TechSci Research in New Report Available at MarketPublishers.com24 Nov 2016 • by Natalie Aster
LONDON – The U.S. is one of the countries that lead the world’s automotive tire space. Besides, it is the number two automobile market globally.
In 2012, there was a slow increase in the marketplace. It was neglected over the period 2013-2015 owing to automobile sales’ increment.
The U.S. automotive tire space is predicted to be driven by rising automobile sales combined with the growing automobile fleet. A sales increase occurring in different vehicle segments (and subsequent expansion of the local replacement automotive fleet) will be one more factor encouraging growth of the local tire industry.
As of 2011, automobile sales in the country stood at approximately 13 million. In 2015, they almost reached 17.5 million units. Besides, the gross national income of this country amounted to USD 54,960 in 2015, up by more than USD 4,000 from 2011.
The demand for tires in the country is predicted to grow at a CAGR of more than 5% in terms of volume over the period 2016-2021.
Passenger car tires own the largest volume share in the local marketplace. They are set to maintain this position in the coming years, as well. Goodyear, Cooper, Sumimoto and Bridgestone are some of top companies in the local marketplace.
New research report “United States Tire Market Forecast & Opportunities, 2021” worked out by TechSci Research offers comprehensive examination of the U.S. tire market. The study starts with a thorough overview of the tire production in this country.
It proceeds with a thorough overview of this marketplace. The report estimates sizing of the world’s market and uncovers details on its shares. The research study insightfully explores performance of each segment of this marketplace.
It proceeds with examination of import and export trends. The research report covers sales channels and concentrates on the market dynamics. The study throws light on the most recent trends and developments. It contains a detailed economic profile of this country.
The report focuses on the competitive environment and profiles such top companies as Bridgestone America and Michelin North America, to name a few.
More new research studies by TechSci Research are available at its page.