Post sub-prime crisis in the United States, the tires industry has stabilized and since then has been performing positively. With the latest trend of adapting new technology and government's intervention to boost domestic tire production, the tire market in United States is surged to remain positive but grow at a sluggish rate. Retreading and replacement tires market will fuel the sector and tire manufacturing companies will emphasize on setting new tire retreading facilities. United States tire industry is one of the world's largest tires manufacturing market and highly diversified. In United States passenger tires account for maximum market share followed by light, medium & heavy truck tires.
According to “Global & United States Tires Market Forecast & Opportunities, 2017” the United States tire market will grow at a CAGR of 6.3% for next five years, in terms of value. The report also forebodes that Goodyear will continue to be the market leader by 2017. It is anticipated that new tire technology will be adapted by major manufacturers and fuel efficient tires will be dominating the market.
“Global & United States Tires Market Forecast & Opportunities, 2017” report elaborates following particulars: