Tire Business Outlook For United State 2020 - Research Report Says by P&S Intelligence
What helps a vehicle move smoothly on the road? It is not the engine, the shock absorbers, or the tightly welded/bolted metal frame; it is actually the humble tire! With continuous driving, the tire experiences significant wear and tear, just like any other component of an automobile. Another reason for the high demand for these components is the rising average age of vehicles. With automobiles being used for longer periods than before, the tire replacement rate is also going up. For instance, in the U.S., an automobile was driven for around 10.2 years on an average in 2010, but by 2018, the average age of vehicles had risen to 11.5 years. The key reasons behind this has been the fierce competition in the auto sector, which is impelling vehicle manufacturers to offer better and more-durable automobiles to customers. In addition, several stringent government regulations have also been implemented in this regard in the country. Owing to all these factors, the U.S. automotive tire mar...