The North America Tire Market is projected to grow at a CAGR of 2.60%; Fuelled by the Increasing Automotive Sector.

Key Takeaways:

• In 2021, the US made 9,157 thousand vehicles, per the Bureau of Transportation Statistics, spurring tire market expansion.
• Canada's auto production, valued at US$74,598 million by Statistics Canada, contributes significantly to the industry.
• The US spent $94,438 million on vehicle parts and accessories in 2021, according to the Bureau of Transportation Statistics.

Based on type, tubeless tire holds a significant North America tire market share as it offers distinct benefits regarding velocity, convenience, grip, and protection from punctures.

Tubeless tires reduce the friction between the tire and tube, thereby decreasing rolling resistance compared to folding tires or tubular ones. They enable lower inflation pressure, enhancing comfort, control in critical situations, and bolstering puncture protection, thus lowering the chances of blowouts.

In April 2024, Kumho Tire U.S.A. introduced two new options in its expanding EV tire lineup: the Majesty 9 Solus TA91 EV and the Crugen HP71 EV. These tires featured Kumho Tire’s proprietary K-Silent technology, aimed at reducing cabin noise and enhancing comfort, with added all-weather performance.

Tubed tires consist of an inner tube filled with air, positioned between the rim and tire. The tube's valve connects to the rim hole for tire inflation. Additionally, it helps maintain the tire's shape and, importantly, provides support for the vehicle's weight, ensuring stability. According to the World Integrated Trade Solutions (WITS), there was a 19.72% compound annual growth rate (CAGR) for U.S. imports of bicycle inner tubes from 2019 to 2022.

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Market Segmentation

North America Tire Market Report and Forecast 2026-2035 offers a detailed analysis of the market based on the following segments:

Market Breakup by Design

• Radial
• Bias

Market Breakup by Type

• Tube Tire
• Tubeless Tire

Market Breakup by Season

• Winter Tire
• Summer Tire
• All-Season Tire

Market Breakup by Vehicle Type

• Two-Wheeler and Three-Wheeler
• Passenger Vehicle
• Heavy Commercial Vehicle
• Light and Medium Commercial Vehicle

Market Breakup by Sales Channel

• OEM
• Aftermarket

Market Breakup by Country

• United States of America
• Canada

Top Players

• Bridgestone Corporation
• Michelin Group
• Continental AG
• Pirelli & C. S.p.A 
• Goodyear Tire & Rubber Company 
• Yokohama Rubber Co., Ltd. 
• Hankook Tire & Technology Co., Ltd. 
• Sumitomo Rubber Industries, Ltd. 
• Giti Tire Pte Ltd. 
• Toyo Tire Corp. 
• Others

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