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Market Research Report

North America Tire Replacement Market Analysis Report | 2021 Edition | 2019-2035 | Industry Outlook

Published Date :

2021-01-29

Report Pages :

410

Format :

PDF

Region Covered :

North America

North America Tire Replacement Market Overview

The North America tire replacement market has witnessed steady growth in the last couple of years. The increase of replacement tires prices have increased in 2019 averaged from 2% to 7% varying by tire brand. The moderate prices increase primarily due to more stable commodity pricing which exerted less pressure on tire OEM margins as their production costs remained relatively flat. The prices will continue to increase due to the raw material challenges and shortages. USD 20 billion dollars is spent on replacing the tires every year in the US. The 220 million passenger cars and light trucks in North America consume about 130 billion gallons of motor fuels annually. Production of passenger tires rose from 126.10 million units, light truck tires to 26.40 million units, and medium truck tires to 14.80 million units. The combined total of 167.80 million units was the highest in 2011.

2019 U.S. Replacement Tire Sales
Year-2017 Value in USD Billion
Passenger $25.40 Billion
Truck $6.80 Billion
Light Truck $5.20 Billion
OTR $1.70 Billion
Farm $535 Billion

 

Gender Analysis of the Replacement Tire Buying Process
Year Males Females
2015 62 39
2016 61 40
2017 61 40
2018 60 40
2019 60 41

 

North America Tire Replacement Market Segmentation

By Rubber Type

  • Natural Rubber
  • Ethylene –Propylenediene Monomer Rubber
  • Styrene-Butadiene Rubber
  • Polychloroprene
  • Others

By End-User

  • Automotive Sector
  • Aviation Sector
  • Construction Sector

By Distribution Channel

  • Online Distribution Channel
  • Offline Distribution Channel

By Region

  • United States {Market Share9%), Market Size(USD Billion), Sales(Million Units)} Tire Replacement Market
  • Canada {Market Share9%), Market Size(USD Billion), Sales(Million Units)} Tire Replacement Market

We conducted interviews with the North America Tire Replacement Market Manufacturers, OEMs, Aftermarket Players, Brands, Component Manufacturers, End User Industries, Distributors, Traders, Suppliers, Product Managers, Consultants, Decision Makers, VPs, Executives, Sales Managers, Regional Sales Head, C-level Executives, etc.

Key Highlights: North America Tire Replacement Outlook, 2019-2035 (2021 Edition)

The report includes  North America Tire Replacement Manufacturers, Aftermarket Players & Distributors Outlook (Market Competition & Global Presence), Business Strategy & Financial Analysis of Major Players. Further, the study also covers the Industry Insights (Future Trends & Forecast Data), Trade Data (Exports and Imports) and Distribution Model Analysis, Competitive Analysis, Opportunity Analysis.

  • Market Data Outlook: Market Size (USD Billion), Market Share (%), CAGR (%), Y-O-Y Growth Rate (%) of North America Tire Replacement Industry and further it bifurcated into Countries, 2019-2035
  • Sales Outlook: By Rubber Type, By Distribution Channel, By End User Industry Type, By Countries (Value & Volume), 2019-2035
  • Data of Manufactured & Registered Tire: By Rubber Type, By Distribution Channel, By End User Industry Type, By Countries (Value & Volume), 2019-2035
  • Manufacturing/Production of Tire: By Rubber Type (OEMs & Contract Manufacturers), Production Data (By Rubber Type, By Countries), Manufacturing Capacity, Operational Margins, Profit Margin, Distribution Analysis, etc., 2019-2035
  • North America Tire Replacement Industry Outlook: Tire Expenditure, Transportation & Manufacturing Reforms, Manufacturing Facilities, Govt. & Private Investments, R&D, (Current & Future Outlook), 2019-2035
  • Regulatory Framework & Approvals Outlook: Regulatory Framework for Tire Replacement, Govt. Initiatives & Programs, Manufacturing Framework & Regulations, Import Framework, Regulations & Policies, etc.
  • Competitive Outlook: Players Financial Analysis, Marketing Strategies, Ranking Index, Product Portfolio, Pricing Analysis, List of Customers, Competitive Advantage, etc. Company Profiles, SWOT Analysis of Each Player, Recent News & Developments of Each Player, Merger & Acquisitions, etc.  
  • Tire Replacement Aftermarket & Components Outlook: Aftermarket Analysis, Components Sales Outlook, Aftermarket Sales Outlook, Engine and Parts Manufacturers, etc, 2019-2035
  • Market Dynamics: Growth Drivers, Challenges, Opportunities, Trends, SWOT Analysis, PESTLE Analysis, Pricing Patterns, Regulations, Investments, Research & Development, 2019-2035
  • Trade Data of Tire Replacement (Export & Import): By Each Segment, By Countries, (By Value & Volume), 2019-2035
  • Target Analysis: Target & Potential Markets, By Major Countries
  • Risk Analysis: Supply & Demand Analysis, 2019-2035

The study provides an in-depth analysis of current and future trends to elucidate the imminent investment pockets in the market.

  • Current and future trends are outlined to determine the overall attractiveness of the market and single out profitable trends to gain a stronger foothold in the market.
  • Quantitative analysis of the current market and forecast from 2019-2035 is provided to showcase the financial competency of the market.
  • Drivers and opportunities are evaluated to highlight the top factors responsible for market growth. Various segments are carefully evaluated to gauge the potential of the market.
  • Porter’s Five Forces Model and SWOT analysis of the industry illustrate the potency of the buyers & suppliers participating in the market.
  • Competitive Outlook of major players of the market to understand the current business scenario and to understand the complexity and investment-related factors.

Trends, Drivers & Challenges to Market Growth

Demand for high-performance tires in North America continues to increase especially on the replacement side; it represents 38.20 percent of aftermarkets shipment. Growth on the original equipment averaged 40 percent in the past 5 years which accounted for half of the Original Equipment Sales. Shipments of after-sales tires rose 10.20 percent to 78.70 million units, while those to OE customers were up to 4 percent to 25 million units. The biggest challenge is the accumulation of scrap tires which becomes the breeding ground for millions of insects because of health hazards for humans. So proper disposal of these scrap tires is very essential and from time to time they have to be disposed of. The scrap tires can also cause fumes if they are near some oil reserves. The process of replacement is too expensive and complex which is the biggest challenge and restraints for many companies and countries.

South Carolina’s remains no 1 in tire recycling with the estimated daily tire production growing to 103,000 units as expansions by Bridgestone, Continental Tire and Michelin started having an effect on them. Two more plants are operating with those of Trelleborg Wheel Systems and Giti Tire Group will expand in the coming years.

Mergers and Acquisitions

The acquisition is Camso by Michelin strengthened its leadership position by in the specialties areas business by creating a world record. This strategic partnership is carried out by shared values and a strong tradition of innovation and R&D which will make the company the world leader in off road mobility. Camso is a designer, manufacturer and distributor of off road mobility solutions since 1982 with an annual turnover of $1 billion. It is a leading player on several segments, including rubber tracks for farm equipment’s and snowmobiles and material handling equipment market. Camso is one of the top three players on the construction market both on tires and tracks for small construction equipment. Its technological leadership on tracks and tracks systems has created a competitive industrial network around the world also. The acquisition has created will expand its product portfolio and join together to work.

International and Domestic Player Dominance

Good Year remained the No 1 supplier of Original Equipment consumer tires, estimated close to 28 percent of the 1.77 million cars, SUV’s and light trucks built in the USA in 2013 with its Good Year and Dunlop brands. Michelin remains no 2. and then comes BF Good rich brands. Continental and General Brands remain a later part of the list.

Sales Distribution

Import brands claimed more than a quarter of the U.S. passenger and light truck replacement markets, while the domestic makers' and associate brands represented more than 60 percent of each category, according to Tire Business' analysis of RMA and Commerce Department data. U.S. shipments of winter/traction tires grew slightly to a 3.6-percent market share, up from 3.5 percent in 2013. By contrast, winter tires represent 35 percent of aftermarket car tire shipments in Canada. Ironically, unit shipments are roughly 7 million in each country. The roster of OE suppliers will grow to an even dozen this year when Sumitomo Rubber USA L.L.C. starts supplying its Falken brand to a few select vehicles. Bridgestone also is considered a leader on the retail of the ledger, reporting an estimated $4.5 billion in sales through its Bridgestone Retail unit, slightly ahead of mega-retailer Discount Tire/America's Tire. Discount Tire operated 910 stores are year-end 2015, compared with the 2,313 stores under Bridgestone's control. On the sales side, Bridgestone Americas solidified its claim to the top spot in North America with estimated tire-related sales of $10.5 billion, measurably ahead of Michelin North America Inc.'s $9.5 billion and Goodyear's $7 billion.

Distribution Channel 2008 2007
Independent Tire Dealers 60.00% 59.50%
Mass Merchandisers 14.50% 15.00%
Warehouse Clubs 9.00% 9.00%
Tire Company-owned Stores 7.00% 7.50%
Auto Dealerships 5.50% 4.50%
Service Stations 2.50% 3.00%
Miscellaneous Outlets 1.50% 1.50%

 

Bridgestone Retail Operations LLC runs 2,047 retail stores under the following names: Firestone Complete Auto Care (1,481), Tires Plus (422), Expert Tire (98) and Wheel Works (46). It also operates 143 GCR commercial tire centers. Firestone Complete Auto Care outlets sell the Bridgestone, Firestone, Primewell, and Lemans brands. Expert Tire also sells the Fusion brand. Goodyear’s 671 stores include Goodyear Gemini outlets, Just Tires and Allied Discount Tires. Its Just Tires format has 122 stores strategically located in the following metropolitan areas: Chicago (31), Philadelphia (11), Los Angeles (51), Baltimore/Washington, D.C. (12), and Raleigh/Durham (17). They sell Goodyear, Dunlop, Republic, Pirelli, Firestone, Bridgestone, Continental, BFGoodrich, Michelin, Cooper and Kumho tires. TCI Tire Centers, owned by Michelin North America, operates 126 commercial service outlets across the U.S. Its Small Tire Marketing Division distributes Michelin, BFGoodrich, Uniroyal, Yokohama, Han kook and Trivalent brand passenger and light truck tires through 34 distribution centers. Mass merchandisers lost ground to some of the other distribution channels in 2008. Wal-Mart Stores Inc. has close to 3,200 outlets selling tires, although most of those sales are concentrated in its approximately 2,435-store Tire & Lube Service Centers nationwide. Wal-Mart offers Goodyear, Michelin, BFGoodrich, Uniroyal, and Douglas tires. Sears Holdings Corp. owns 859 Sears Auto Centers. They sell the following brands, in order of SKUs offered: Goodyear, Michelin, Dunlop, BFGoodrich, Han kook, Continental, Falken, Firestone, Bridgestone, Uniroyal, Sumitomo, Kumho, Winter Handler and General. Sears also offers two co-branded products: the Michelin Weather-wise and Bridgestone Weather force. Pep Boys-Manny, Moe & Jack is the largest tire-selling auto parts chain with 539 stores (down from 561 last year). The company favors its private brand offerings of Cornell, Futura and Definity, but also offers Hankook, Cooper, and Goodyear.

Many tire manufacturers were able to take advantage of the exchange rate versus the U.S. dollar in 2008, and two companies, Continental and Bridgestone, benefited from major acquisitions. (Although it didn’t affect its tire sales, Continental’s purchase of Siemens VDO Automotive AG for 11.4 billion euros greatly increased its overall revenue in 2008.) Year to year, Korean and North American companies gained revenue thanks to the exchange rate. Japanese companies lost revenue. At year’s end, Bridgestone Corp. was the world leader with an estimated $24.8 billion in new tire sales (see Chart 12). Groupe Michelin came in second with $22.5 billion in global tires sales. However, Michelin was the most profitable tire manufacturer based on its net income-to-net sales ratio. Goodyear finished third with an estimated $19.2 billion in tire sales. In addition to the Big Three, Continental, Sumitomo and Cooper had positive income-to-sales ratios. (Two companies that can’t be compared to the others, especially this year, are Yokohama Rubber Co. and Toyo Tire & Rubber Co. Ltd., because their fiscal years end March 31. Their sales figures, however, are included in Chart 12 as well.) Bridgestone Americas was the U.S. and Canadian leader in new tires. At $9 billion, it outdistanced Goodyear ($7.9 billion) and Michelin North America ($7.2 billion). It should be noted, however, that companies with company-owned stores have the advantage of counting retail pricing on tires sold through their outlets. Goodyear has 671, while Bridgestone has 2,047. In addition, retreading revenue is included in the sales figures for Bridgestone, Goodyear, and Michelin.

The latest news reveals that the rubber plant produces the raw material known as Indian rubber or caoutchouc that can be tapped easily. Statistics reveal that there are problems I n recycling every year. How to dispose of these tires is a great problem in North America. Industry data says that about 200 million tires are discarded worldwide every year. Some are reused afar some economically gained purposes or some are sent to landfills, often piled up and serving as the breeding grounds for millions of insects. There can also catch fires and create toxic fumes of smoke as well. The entire process is quite costly and difficult too. Michelin has come up with the goal of replacing 80 to 85% of the rubber it uses making more eco-friendly materials. For some, it is a nuisance but for some, it is an alternative to economically friendly products.

Competitive Landscape of North America Tire Replacement Market

  • Christian Brothers Automotive
  • Les Schwab Tire Centers
  • Grease Monkey
  • Good Year Tire & Auto Service
  • Valvoline Instant Oil Change
  • Midas Inc.
  • Firestone Complete Auto Care
  • Meineke Car Care Centers Inc.
  • Tires Plus
  • Big O Tires LLC
  • Tire Kingdom
  • General Maintenance Average
  • Pep Boys
  • Monro Auto Service & Tire
  • Jiffy Lube International, Inc
  • Mavis Discount Tire
  • NTB
  • Walmart
  • Granutech –Saturn Systems
  • Shred-Tech Group
  • Forrec srl
  • Vortex De-Pollution (USA)LLC
  • Eldan Recycling A/S
  • Harden Machinery Limited
  • Thompson Tire Recyclers
  • BDS Waste Disposal Inc.
  • KFA Marketing Consulting
  • Mobile Tire Recycling.com LLC
  • Ameri-Kart, A Myers Industries Company
  • Questor Technology Inc.
  • Plastic Advanced Recycling Corporation (PARC)
  • Tire Service Equipment Mfg.Co.Inc
  • Currie Management consultants Inc
  • SNC-Lavalin Thermal Power
  • Conica AG
  • Intermountain Specialty Gases
  • Rainbow Turf Powder
  • TKM GMBH
  • Ecodot.com
  • Milliken Infrastructures Solution LLC, Granuband Knowledge Center
  • SSI Shredding Systems Inc
  • Sirius Waste Conversion LLC
  • Rubber Form Recycled Products Llc
  • Curotto –Can Inc-Part of the Environmental Solutions Group
  • ESI , Inc of Tennessee
  • Blasters , Inc
  • Keying Enterprise
  • Genox Recycling Tech Co Lmited
  • Diamond Z
  • Desislava 20 Granulators Limited
  • MC Faulkner Inc
  • Tex American Recycling
  • Thermogenics , Inc
  • Schuyler Rubber Co, Inc
  • In En Tec
  • Max Environmental Technologies
  • Eco Green Equipment
  • Engineering and Equipment Co.
  • Jordan Reduction Solutions
  • TRI-Rinse Inc, Environmental Contractors
  • Scraps Industries Inc,
  • Lakin Tire West Inc
  • Humboldt Waste Management Authority
  • Eidal Shredders-Burda Family of Companies
  • IPEC
  • Haldor Topsoe A/S
  • Evans Engineering Limited
  • Easy Route, Inc
  • Beta Analytic Inc
  • AZ Dry Ice Blasting
  • Rubber Mulch
  • Shuttle lift
  • Friendly Environment
  • Western Tire Recyclers
  • Pyrolyx AG
  • Mississippi Tire Recycling

COVID-19 impact on "Tire Replacement Market in North America"

The report analyses and includes a complete detailed chapter of 50-70 pages about the short-term & long terms impact of COVID-19 outbreak on each segment of the "North America Tire Replacement Market" along with government measures to support the sector. It also showcases the current market landscape during COVID, the impact of the virus on leading companies, the expected demand schedule and supply chain in the industry, and other various major factors. This will help you identify those companies that may benefit from this pandemic as well as those that will lose out.

Covered In This North America Tire Replacement Market Report

The report covers the present ground scenario and the future growth prospects of the automotive aftermarket for 2019-2035 along with the market players’ analysis. We calculated the market size and revenue share on the basis of revenue generated from major players in all major countries. North America Tire Replacement Market is forecasted on the basis of revenue analysis, product benchmarking and strategic developments of key market players.

North America Tire Replacement Market Outlook 2019-2035, has been prepared based on in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the tire replacement aftermarket industry space. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. “ North America Tire Replacement Industry Report” also recognizes value chain analysis to understand the cost differentiation, pricing models to provide a competitive advantage to the existing and new entry players.

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Key questions answered in this North America Tire Replacement Market Report

  • What is the total market size by 2035 and what would be the expected growth rate of the market?
  • What is the total revenue per segment and region in 2018-19 and what would be the expected revenue per segment and region over the forecast period?
  • What are the key market trends?
  • What are the factors which are driving this market?
  • What are the major barriers to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities for the existing and entry-level players?
  • What are the recent developments and business strategies of the key players?

Reasons to buy this market study

  • Facilitate decision-making based on strong historic and forecast data for North America Tire Replacement Market
  • Develop strategies based on the latest regulatory framework
  • Position yourself to gain the maximum advantage of the North America Tire Replacement industry’s growth potential
  • Identify key partners and business development avenues across the globe
  • Respond to your competitors’ business structure, strategy, and prospect.



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North America Tire Replacement Market Analysis Report | 2021 Edition | 2019-2035 | Industry Outlook

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