US tire market to grow at 5% through 2021

New York – The US tire market is set to grow at a CAGR of 5% through 2021, driven by higher vehicle sales and expanding car fleet across the country, according a report by TechSci Research.

The prominent driver for growth in the US tire market is the rising car fleet, which rose from 311.71 million units in 2011 to321.41 million units in 2015.

With an increasing volume share of over 80% in 2015, replacement tire segment dominated the US tire industry. The OEM segment is…

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