Companies Mentioned in the Report: Goodyear, Bridgestone, Michelin, Continental, Sumitomo Tires, Pirelli, Hankook Tire, ZC Rubber, Yokohama, MRF, Alliance Tire Company, Birla Tyres, Belshina, Carlisle, Casumina, Cheng Shin Rubber, Deestone, General Tyre Pakistan, Hangzhou Zhongce, Kumho Tires, Nokian Tyres, Shanghai Huayi, Tigar Tyres
NEW YORK, April 13, 2022 (GLOBE NEWSWIRE) -- IndexBox has just published a new report: 'U.S. – Tyres for Buses or Trucks - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.
U.S. Tyre Market Statistics
| Imports | $5,298.6 Million USD |
| Exports | $1,695.2 Million USD |
| Top Export Destinations | Mexico, Canada, Germany |
| Top Foreign Suppliers | Thailand, Canada, Japan |
In 2021, after two years of decline, there was significant growth in the U.S. truck and bus tyre market, when its value increased by 16% to $7.7B. Overall, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level and is likely to continue growth in the immediate term. REQUEST FREE DATA
Tyre Production in the U.S.
In 2021, after two years of decline, there was growth in production of tyres for buses or trucks, when its volume increased by 0.4% to 32M units. In general, production, however, continues to indicate a perceptible curtailment. The growth pace was the most rapid in 2017 when the production volume increased by 18% y-o-y. Over the period under review, production hit record highs at 40M units in 2011; however, from 2012 to 2021, production stood at a somewhat lower figure. REQUEST FREE DATA
In value terms, truck and bus tyre production amounted to $4.9B in 2021. Over the period under review, production, however, showed a mild downturn. The growth pace was the most rapid in 2017 with an increase of 18% y-o-y. Truck and bus tyre production peaked at $5.9B in 2011; however, from 2012 to 2021, production failed to regain the momentum. REQUEST FREE DATA
Tyre Exports from the U.S.
In 2021, after two years of decline, there was significant growth in overseas shipments of tyres for buses or trucks, when their volume increased by 8.9% to 11M units. Overall, exports, however, continue to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2014 with an increase of 15% y-o-y. As a result, exports attained the peak of 15M units. from 2015 to 2021, the growth exports failed to regain the momentum.
In value terms, truck and bus tyre exports skyrocketed to $1.7B in 2021. Over the period under review, exports, however, recorded a noticeable decrease. Over the period under review, exports attained the peak figure at $2.5B in 2014; however, from 2015 to 2021, exports stood at a somewhat lower figure.
Exports by Country
Canada (4.6M units), Mexico (3.5M units) and Germany (956K units) were the main destinations of truck and bus tyre exports from the U.S., with a combined 84% share of total exports.
In value terms, Mexico ($765M), Canada ($610M) and Germany ($101M) appeared to be the largest markets for truck and bus tyre exported from the U.S. worldwide, together comprising 87% of total supplies.
Among the main countries of destination, Germany (+12.9% per year) saw the highest rates of growth with regard to the value of exports, over the last decade, while shipments for the other leaders experienced mixed trend patterns.
Export Prices by Country
In 2021, the average truck and bus tyre export price amounted to $157 per unit, surging by 13% against the previous year. Prices varied noticeably by the country of destination; the country with the highest price was Mexico ($216 per unit), while the average price for exports to Germany ($106 per unit) was amongst the lowest. From 2011 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mexico, while the prices for the other major destinations experienced a decline.
Tyre Imports into the U.S.
In 2021, supplies from abroad of tyres for buses or trucks was finally on the rise to reach 51M units after two years of decline. Overall, total imports indicated a buoyant increase from 2011 to 2021: its volume increased at an average annual rate of +5.0% over the last decade.
In value terms, truck and bus tyre imports skyrocketed to $5.3B in 2021. The total import value increased at an average annual rate of +2.5% from 2011 to 2021.
Imports by Country
In 2021, Thailand (14M units) constituted the largest supplier of truck and bus tyre to the U.S., accounting for a 28% share of total volume. Moreover, truck and bus tyre imports from Thailand exceeded the figures recorded by the second-largest supplier, Canada (6.1M units), twofold. The third position in this ranking was occupied by Vietnam (5.9M units), with a 12% share.
In value terms, the largest truck and bus tyre suppliers to the U.S. were Thailand ($1.5B), Canada ($862M) and Japan ($505M), with a combined 54% share of total imports. These countries were followed by Vietnam, South Korea, Mexico, China, Indonesia and Brazil, which together accounted for a further 29%.
U.S. tyre purchases from China dropped from $1.1B in 2011 to $0.2B in 2021, while imports from Thailand spiked from $0.4B to $1.5B over the same period.
Import Prices by Country
The average truck and bus tyre import price stood at $104 per unit in 2021, leveling off at the previous year. Overall, the import price, however, saw a perceptible slump. Prices varied noticeably by the country of origin; the country with the highest price was Canada ($140 per unit), while the price for Indonesia ($69 per unit) was amongst the lowest. From 2011 to 2021, the most notable rate of growth in terms of prices was attained by Canada, while the prices for the other major suppliers experienced mixed trend patterns.
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Product Coverage
New pneumatic tyres, of rubber, of a kind used for buses and trucks.
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