Press Release

North America Tire Market to Surpass $ 91 Billion by 2023

Expanding automobile fleet, increasing sales of vehicles, and rising production of passenger cars and LCVs to drive North America tire market through 2023

According to TechSci Research report, North America Tire Market By Vehicle Type, By Demand Category, By Radial Vs. Bias, By Country, Competition Forecast & Opportunities, 2013 – 2023”, North America tire market is forecast to cross $ 91 billion by 2023, on account of rising sales of automobiles and expanding vehicle fleet. Some of the other factors expected to positively influence the region’s tire market are high demand for replacement tires, increasing number of infrastructure projects and growing construction industry. Few of the prominent tire manufacturing companies with a strong presence in the region are Bridgestone, Goodyear, Michelin, Continental and Pirelli.  A widespread presence of dealers and distributors is expected to push tire sales of these companies in North America during the forecast period. 


Browse 27 market data Figures and Tables spread through 41 Pages and an in-depth TOC on "North America Tire Market"

https://www.techsciresearch.com/report/north-america-tire-market/3297.html

 

With around three quarters of the volume share in 2017, passenger car tire segment dominated the North America tire market, followed by light commercial vehicles, medium & heavy commercial vehicles, OTR vehicles, two-wheelers and three-wheelers. The dominance of passenger car segment is backed by high per capita purchasing power and easy availability of passenger cars in the region. Replacement tire segment holds the largest market share; however, in the coming years, the OEM tire segment is anticipated to witness fastest growth in the region’s tire market.

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“North American countries are quite advanced in comparison to other countries across the globe, in terms of per capita income levels, vehicle ownership and agriculture output. Growing mechanization of agriculture farms coupled with expanding vehicle fleet, growing infrastructural developments, and increasing vehicle sales and production is anticipated to aid the region’s tire market over the next five years.’’, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“North America TireMarket By Vehicle Type, By Demand Category, By Radial Vs. Bias, By Country, Competition Forecast & Opportunities, 2013 – 2023 has analyzed the potential of tire market across the North America region, and provides statistics and information on market size, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyses emerging trends along with essential drivers and key challenges faced by the industry.

 

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Relevant Reports

North America Tire Market By Vehicle Type (Passenger Car, Two-Wheeler, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle & Others), By Demand Category, By Radial Vs. Bias, By Country, Competition Forecast & Opportunities, 2013 – 2023

Automotive | Sep, 2018

Expanding automobile fleet, increasing sales of vehicles, and rising production of passenger cars and LCVs to drive North America tire market through 2023

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