US Tires Market Report 2021
“For the majority of consumers, tires aren’t at the top of their minds and are likely to stay that way until they encounter an issue. When issues arise, consumers are…

US Tires Market Report 2021

£ 3,695 (Excl.Tax)

Report Summary

This report provides comprehensive and current information and analysis of the US Tires market including US Tires market size, anticipated market forecast, relevant market segmentation, and industry trends for the Tires market in the US.

Current market landscape

While most consumers who have at least one vehicle in their household have purchased tires, some 41% aren’t aware of what brand of tires are on their vehicle. This represents an opportunity for tire retailers to educate consumers in various ways.

COVID-19 has led to an increased emphasis on the use of personal vehicles as a form of protection from the virus. As the chip shortage continues to affect the production of new vehicles, used cars have witnessed extended use and demand. The average age of a vehicle is roughly 12 years and has continually increased annually. This presents a good sign for tire brands and retailers, indicating that consumers will need multiple tire changes throughout the lifetime of their vehicle.

Future market trends in the automotive tire market

Moving forward, retailers and brands have the opportunity to expand upon complimentary services and aspects of customer services to generate in-store traffic and gain the trust of consumers through in-store salespeople. Retailers who adapt to the need for convenience amongst consumers will be able to differentiate themselves from their competitors by bringing the services to them.

Read on to discover more about US tire market research, read our US DIY Auto Maintenance Market Report 2021, or take a look at our other Automotive Market research reports.

Quickly understand

  • The impact of COVID-19 on automobile reliance and the tires market.
  • Trends in recent tire purchases, including attitudes, reasons and locations shopped.
  • Consumer price expectations for tires and the optimal price point to appeal to shoppers.
  • The behaviors and attitudes of consumers in the market for tires.

Covered in this report

Brands include: Michelin, Goodyear, Bridgestone, Uniroyal, Kelly, Firestone, Cooper, Hankook, Continental, Yokohama, Falken, General, Toyo, Pirelli, Kumho, Multi-Mile, Nexen, AutoZone, Discount Tire, Big O Tires, Kempa, Root, Allstate, Volta, Discount Tire, Walmart, Costco, Sam’s Club, Midas, Active Green, Ross.

Expert analysis from a specialist in the field

This report, written by Gabe Sanchez, a leading analyst in the Automotive sector, delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.

For the majority of consumers, tires aren’t at the top of their minds and are likely to stay that way until they encounter an issue. When issues arise, consumers are likely to lean on a retailer they trust to guide them through their purchasing process but not without doing their own research. Tire brands and retailers must position themselves as the experts while also providing a trustworthy and transparent purchasing experience for the consumer.
Gabriel Sanchez, Automotive Analyst
Gabe Sanchez
Automotive Analyst

Table of Contents

  1. Overview

    • What you need to know
      • This Report looks at the following areas
        • Definition
          • Market context
            • Economic and other assumptions
              • COVID-19: US context
              • Executive Summary

                  • Top takeaways
                    • Market overview
                      • Figure 1: Total US sales and fan chart forecast of market, at current prices, 2016-26
                    • Impact of COVID-19 on tires
                      • Figure 2: Short-, medium- and long-term impact of COVID-19 on tires, 2021
                    • Opportunities and challenges
                      • Consider an omnichannel approach
                        • Educate on various tire types
                          • Develop flexible payment options
                            • Invest in sustainability efforts
                            • The Market – Key Takeaways

                              • US replacement tires market expected to see incremental increases in sales
                                • Consumers continue to be critical of their spending
                                  • Average price per pound of rubber has been on the rise
                                    • Increased reliability and lifetime of vehicles can benefit tire retailers and brands
                                    • Market Size and Forecast

                                      • US tire market bounces back, with incremental increases through 2026
                                        • Figure 3: Total US sales and fan chart forecast of market, at current prices, 2016-26
                                        • Figure 4: Total US sales and forecast of market, at current prices, 2016-26
                                      • Impact of COVID-19 on tires
                                      • Market Factors

                                        • Consumer confidence and unemployment drive consumers to tighten their budgets
                                          • Figure 5: Consumer confidence and unemployment, 2000-21
                                        • Average price per pound of rubber is on the rise
                                          • Figure 6: Global price of rubber, US cents per pound, annual, not seasonally adjusted, 2000-20
                                        • The average lifetime of tires is between three to five years
                                        • Companies and Brands – Key Takeaways

                                          • Retailers are adapting to the consumer’s need for convenience
                                            • Brands and retailers who promote equality have an opportunity to develop and capture an under-represented market
                                              • Complimentary services and customer service can be a differentiator
                                                • Brands and retailers should continue to promote the environmental impact of their products
                                                  • Develop cross-category partnerships
                                                  • Brand Performance

                                                    • Michelin leads manufacturers in units shipped
                                                      • Figure 7: US manufacturers’ share of unit shipments of replacement passenger and light truck tires, by manufacturer and brand, 2020
                                                  • Competitive Strategies

                                                    • Tire retailers come to you
                                                      • Figure 8: Roll by Goodyear
                                                    • Auto part retailers incentivize sustainability
                                                      • Figure 9: AutoZone battery and oil recycling program
                                                    • Bridgestone showcases its commitment to diversity and equality
                                                      • Figure 10: Bridgestone participates in the Nashville pride festival
                                                    • Big O Tires and Discount Tire leverage technology
                                                      • Figure 11: Discount Tire app featuring tire visualizer
                                                    • Michelin reaches consumers beyond tires
                                                      • Figure 12: Michelin soles on Kempa shoes
                                                  • Market Opportunities

                                                    • Complimentary services and customer service can further differentiate retailers
                                                      • Build awareness through rewards, referrals and partnerships
                                                        • Reach for the road trip travelers
                                                          • Figure 13: Volta charging station advertising
                                                        • Leverage digital platforms to target women and younger generations
                                                          • Category innovation and new tire technologies
                                                          • The Consumer – Key Takeaways

                                                            • Most consumers know what brand of tires are on their vehicles
                                                              • Consumers are most likely to purchase their tires in sets
                                                                • Local tire shops lead, tire brand retailers aren’t far behind
                                                                  • Trust is key for consumers purchasing tires
                                                                    • Consumers seek low, low prices
                                                                    • Recent Tire Purchases

                                                                      • All vehicle owners purchase tires at some point; nearly three fourths have purchased in the last three years
                                                                        • Figure 14: Most recent tire purchase, 2021
                                                                      • Many consumers are brand agnostic when it comes to tires
                                                                        • Figure 15: Awareness of tire brand, 2021
                                                                      • Men are most aware of the brand of tires on their vehicle
                                                                        • Figure 16: Awareness of tire brand, gender and age, 2021
                                                                        • Figure 17: Firestone paid partnership with @uglyducklingdiy
                                                                      • Consumers are most likely to purchase tires in sets of two or four
                                                                        • Figure 18: Number of tires purchased during last purchase, 2019, 2021
                                                                        • Figure 19: Midas buy 3 get 1 free promotion
                                                                      • Older consumers are most likely to purchase a set of four tires
                                                                        • Figure 20: Number of tires purchased during last purchase, gender and age, 2021
                                                                      • Consumer income has a minimal impact on the number of tires purchased
                                                                        • Figure 21: Number of tires purchased during last purchase, Household income, 2021
                                                                    • Purchasing Locations

                                                                      • Local tire shops lead but other locations aren’t far behind
                                                                        • Figure 22: Purchasing locations, 2021
                                                                      • Trust, convenience, price drive purchase decisions
                                                                        • Figure 23: Troncalli dealership marketing messaging
                                                                        • Figure 24: Reasons for purchasing at location, 2021
                                                                      • Younger consumers shop local, influenced by recommendations
                                                                        • Figure 25: Purchasing locations, by age, 2021
                                                                        • Figure 26: Reasons for purchasing at location, gender and age, 2021
                                                                      • With higher household income comes increased emphasis on retailer trust
                                                                        • Figure 27: Reasons for purchasing at location, household income, 2021
                                                                      • Hispanic consumers seek value when purchasing tires
                                                                        • Figure 28: Purchasing locations, Hispanic origin, 2021
                                                                        • Figure 29: Reasons for purchasing at location, race, 2021
                                                                    • Pricing Expectations

                                                                      • Consumers seek favorable pricing that could be difficult to achieve in today’s market
                                                                        • Figure 30: Active green + Ross auto care financing
                                                                        • Figure 31: Tire price sensitivity – Optimal price, 2021
                                                                        • Figure 32: Tire price sensitivity – Threshold prices, 2021
                                                                      • High income consumers are less price sensitive, but still seek the best deal
                                                                        • Figure 33: Consumer behavior, by household income, 2021
                                                                      • Price incentives impact brand and retailer choice…to a degree
                                                                        • Figure 34: Impact of price incentives on purchase decisions, 2021
                                                                      • However, location and availability reign supreme
                                                                        • Figure 35: Purchasing locations, area, 2021
                                                                    • Tire Maintenance and Replacement

                                                                      • Nearly half of consumers can tell when it is time to replace their tires
                                                                        • Figure 36: Tire maintenance and replacement behaviors, 2021
                                                                      • Older consumers are more proactive in replacing tires
                                                                        • Figure 37: Tire maintenance and replacement behaviors, gender and age, 2021
                                                                    • Consumer Attitudes toward Tire Types

                                                                      • Consumers understand the benefits of new tires; trust in used tires is low
                                                                          • Figure 38: Consumer attitudes toward new and used tires, by age, 2021
                                                                        • Consumers aren’t sold on specialty tires
                                                                          • Figure 39: Consumer attitudes toward specialty tires, by age, 2021
                                                                        • Urban consumers aren’t sold on seasonal tires
                                                                            • Figure 40: Consumer attitudes toward seasonal tires, by region, 2021
                                                                        • Impact of Professionals

                                                                          • Consumers lean on the assistance of professionals for recommendations and services
                                                                            • Figure 41: AutoZone showcases their customer service on social
                                                                            • Figure 42: Role of professional/mechanic, 2021
                                                                          • Older consumers are more likely turn to professionals for tire changes, but are less likely to prefer brands that their mechanic recommends
                                                                            • Figure 43: Role of professional/mechanic, by gender and age, 2021
                                                                        • Appendix – Data Sources and Abbreviations

                                                                          • Data sources
                                                                            • Sales data
                                                                              • Forecast
                                                                                • Consumer survey data
                                                                                  • Marketing creative
                                                                                    • Abbreviations and terms
                                                                                      • Abbreviations
                                                                                        • Terms
                                                                                        • Appendix – The Market

                                                                                            • Figure 44: Total US retail sales and forecast of replacement tires, at inflation-adjusted prices, 2016-26
                                                                                        • Appendix – Pricing Expectations

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