The US tire manufacturing industry's gross output is forecasted to increase steadily from $20.14 billion in 2024 to $20.63 billion in 2028. In 2023, the industry's output stood at approximately $20 billion, showing a modest growth trajectory. Year-on-year variations exhibit consistency, with an increase of about 0.65% to 0.70% annually. The compounded annual growth rate (CAGR) from 2024 to 2028 is projected to be around 0.60%.

Future trends to watch include:

Technological advancements in tire manufacturing, improving efficiency and sustainability.
Increased demand for smart tires due to the rise of electric and autonomous vehicles.
Potential supply chain disruptions impacting raw material availability.