The passenger car pneumatic tires (casings) sales in the US showed variable trends over the past years. In 2023, the value stood at $9.5323 billion, making for a year-on-year increase of 0.79% from 2022. Over the last two years (2022-2023), sales have increased by 6.97%. Analyzing over a broader timeframe, the last five years have seen an average annual growth rate (CAGR) of 0.84%.
Forecasted data from 2024 to 2028 suggests a gradual increase in sales, reaching $9.8943 billion by 2028, with an average annual growth rate (CAGR) of 0.65% for this period. Factors like technological advancements, economic conditions, and consumer behavior could influence these trends.
Future trends to watch for include the impact of electric vehicles on tire demand, sustainability practices leading to eco-friendly tire manufacturing, and potential disruptions due to global supply chain issues. Monitoring these factors will be crucial for understanding the evolving market dynamics.
