GITNUX MARKETDATA REPORT 2024

Must-Know Tire Industry Statistics [Latest Report]

Highlights: The Most Important Tire Industry Statistics

  • The United Kingdom tire market is projected to reach USD 4.2 billion by 2028, growing at a CAGR of 6.4%.
  • The U.S. tire manufacturing sector’s gross output in 2021 was almost 17 billion U.S. dollars, the same as the previous year.
  • 2.46 million people changed tires four times in 2019.
  • The United Kingdom tire market is projected to reach USD 4.2 billion by 2028, growing at a CAGR of 6.4%.
  • Continental Tyres is the most popular tyre brand in Great Britain, with nearly 1.2 million consumers using it in 2021.
  • The US market for replacement tires in 2022 was valued at over 61 billion U.S. dollars, with passenger tires being the largest segment.
  • The U.S. tire manufacturing sector’s gross output in 2021 was almost 17 billion U.S. dollars, the same as the previous year.
  • Revenue of tire manufacturing in California is projected to reach 101.5 million U.S. Dollars by 2024.
  • The global tire market is expected to grow from 112 billion U.S. dollars in 2019 to 154 billion U.S. dollars in 2027.

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Tires are an essential part of the automotive industry, and understanding the tire industry’s statistics can help you make better decisions when it comes to purchasing tires. In this blog post, we’ll explore the tire industry’s current trends and statistics, including the size of the industry, the types of tires being sold, and the most popular brands.

We’ll also look at the impact of the coronavirus pandemic on the tire industry and how it has affected sales and production. Finally, we’ll discuss the future of the tire industry and what the industry might look like in the years to come. So, let’s get started and explore the tire industry’s current statistics.

Tire Industry: The Most Important Statistics

The United Kingdom tire market is projected to reach USD 4.2 billion by 2028, growing at a CAGR of 6.4%.
In 2022, the US market for replacement tires was estimated at 61 billion USD, with 216,100 units of replacement passenger car tires and 41.5 million units of OE passenger car tires shipped.
The U.S. tire manufacturing sector’s gross output in 2021 was almost 17 billion U.S. dollars, the same as the previous year.

Tire Industry Statistics Overview

2.46 million people changed tires four times in 2019.

In 2020, an estimated 6.06 million people in Great Britain were light tires users, 2.9 million were medium users, and 300 thousand were heavy users.

The United Kingdom tire market is projected to reach USD 4.2 billion by 2028, growing at a CAGR of 6.4%.

Thus, the tire market in the United Kingdom is growing at a high rate, which is beneficial for the tire industry. The increasing disposable income of people, increasing demand for passenger cars and fleets, increasing penetration of electric vehicles, and demand for smart tires are all contributing factors to this growth.

Continental Tyres is the most popular tyre brand in Great Britain, with nearly 1.2 million consumers using it in 2021.

This gives insight into the preferences of consumers in Great Britain, which can be used to inform marketing and product development strategies. Additionally, it can be used to compare the popularity of different tyre brands in the region, allowing companies to better understand their competitive landscape.

In 2022, the US market for replacement tires was estimated at 61 billion USD, with 216,100 units of replacement passenger car tires and 41.5 million units of OE passenger car tires shipped.

It provides an estimate of the size of the US tire market and the number of tires being shipped for both replacement and original equipment.

The US market for replacement tires in 2022 was valued at over 61 billion U.S. dollars, with passenger tires being the largest segment.

This supports an understanding of the size of the market and the relative importance of different tire segments.

The U.S. tire manufacturing sector’s gross output in 2021 was almost 17 billion U.S. dollars, the same as the previous year.

The tire manufacturing sector in the U.S. has remained relatively stable despite the economic downturn caused by the COVID-19 pandemic. This is good news for the tire industry, as it suggests that the sector is resilient and can continue to provide jobs and economic benefits to the country.

Revenue of tire manufacturing in California is projected to reach 101.5 million U.S. Dollars by 2024.

The industry is performing in California and how it is expected to perform in the future. This information can be used to inform decisions about investments, production, and other aspects of the tire industry.

The global tire market is expected to grow from 112 billion U.S. dollars in 2019 to 154 billion U.S. dollars in 2027.

Most of the world’s largest tire manufacturers are based in Japan, France, Germany, and the United States, with Bridgestone Corporation being the largest in 2021 based on tire-related revenue.

Conclusion

In conclusion, the tire industry is a large and important part of the global economy. It is a highly competitive market, with many players vying for market share. The industry is constantly evolving, as new technologies and materials are developed to improve performance and reduce costs.

Tire manufacturers are also investing in research and development to stay ahead of the competition. With the increasing demand for tires, the industry is expected to continue to grow in the coming years.

References

1 – https://www.statista.com/statistics/750708/tyres-usage-by-number-of-tyres-in-the-uk/

2 – https://www.statista.com/statistics/750621/tyres-usage-by-user-type-in-the-uk/

3 – https://www.blueweaveconsulting.com/report/united-kingdom-tire-market#:~:text=Report%20Overview&text=The%20United%20Kingdom%20tire%20market,period%20(2022%2D2028).

4 – https://www.statista.com/statistics/750633/leading-tyres-brands-in-the-uk/

5 – https://www.statista.com/topics/3769/tire-market-in-the-us/

6 – https://www.statista.com/statistics/581639/size-of-the-pneumatic-tire-market-in-the-us/#:~:text=In%202021%2C%20the%20U.S.%20market,2021%2C%20followed%20by%20truck%20tires.

7 – https://www.statista.com/statistics/195334/us-tire-manufacturing-gross-output-since-1998/

8 – https://www.statista.com/forecasts/1204607/tire-manufacturing-revenue-in-california

9 – https://www.statista.com/statistics/1228044/global-automotive-tire-market-size/

10 – https://www.statista.com/statistics/225677/revenue-of-the-leading-tire-producers-worldwide/

FAQs

What is the purpose of tires?

The purpose of tires is to provide traction, absorb shock, and keep the vehicle stable.

What are the different types of tires?

The different types of tires include all-season tires, summer tires, winter tires, off-road tires, and high-performance tires.

How often should tires be changed?

Tires should be changed every 6-10 years or when the tread depth is below 2/32 of an inch.

What are the benefits of using high-performance tires?

The benefits of using high-performance tires include improved handling, better grip, and increased fuel efficiency.

What is the difference between winter and summer tires?

The difference between winter and summer tires is that winter tires are designed to provide better traction in cold and icy conditions while summer tires are designed to provide better grip in warm and dry conditions.

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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