The US tire (except retreading) market is experiencing steady growth. The market value stood at $16.300 billion in 2023, with forecasts predicting an incremental rise to $16.633 billion by 2028. Year-on-year, the market is projected to grow by approximately 0.3% to 0.4% annually. Over the five-year period from 2024 to 2028, the compound annual growth rate (CAGR) is estimated to be around 0.4%.

Future trends to watch for include:

The impact of evolving fuel efficiency standards pushing toward innovative tire designs.
Advancements in electric and autonomous vehicle technology potentially altering tire demand.
Sustainability efforts influencing material sourcing and tire manufacturing practices.