U.S. tire shipments is expected to increase according to a February 2021 forecast by the U.S. Tire Manufacturers Association (USTMA).
The group projects total U.S. tire shipments of 315.7 million units in 2021, compared to 303.2 million units in 2020 and 332.7 million units in 2019. Actual 2020 shipments showed a 4.9 million unit increase over USTMA’s November 2020 forecast, a further indication of the industry’s ongoing recovery.
Original Equipment (OE) shipments for passenger, light truck and truck tires are expected to increase by 10.7%, 3.6%, and 20.0% respectively, with a total increase of 5.1 million units. Replacement passenger and truck tire shipments are projected to increase by 3.5% and 2.9% respectively, with light truck tire replacement shipments showing a minor decline at 0.4%. The total unit addition for replacement shipments is projected to be 7.4 million units.