US represent the world's largest and advanced tyre market. The industry has been growing at a notable speed during the last few years on the back of growing automobile production, domestic and foreign investments, and regulatory support. However, 2009 proved disappointment for the industry and economic crisis dented tyre demand-supply mix significantly. Manufacturers halt their capacity expansion plans and even closed several plants, which were not costs competitive. The industry witnessed remarkable recovery in 2010 and in the wake of increasing tyre demand, the supply side also rejuvenated.
According to our research, "US Tyre Industry Analysis", tyre industry in the US is undergoing a transformation phase amid drastically declined Chinese imports and encouraged domestic production. The recovering automobile production, replacement tyre demand, and advancements in technology upgradation is revitalizing industry's growth outlook and sustaining market attractiveness of the US as a viable investment destination in the region. As per the research, the total tyre shipments in the country is expected to witness a 4.2% CAGR growth during 2011-2014, which will keep the US on the forefront of the industry development.
Despite such a promising future growth prospects, there are some factors, which can affect the growth trajectory of the tyre industry. For instance, the industry is highly raw material intensive and any fluctuation in raw material availability leads to substantial price fluctuation in tyre production costs. Among all ingredients, natural rubber accounts for the most dominating share. In 2010, in the total costs break-up, rubber captured 47% share. In order to sustain its competitive edge and its dominance, the country will have to increase its rubber production in the coming years to maintain balance between tyre industry demand and supply.
Our report, "US Tyre Industry Analysis" has been authored to evaluate the future growth potential of tyre industry in the US. It provides statistics and information on market structure, tyre production, and shipment by segments, exports, and imports trends. tyre shipment projections have been provided for all prominent industry segments, such as passenger tyres, light truck tyres, medium and heavy truck tyres and agriculture/forestry tyres, which facilitate cutting edge market intelligence to clients while making investment decisions.
