The biggest jump is expected in truck replacement tire shipments. The USTMA is forecasting demand of 22.6 million units in 2024, an 8.9-percent rebound from 2023, when shipments dropped 22.5 percent from 2022.
Replacement light truck shipments are slated to jump 4.7 percent, to 35.9 million units this year from 34.3 million units in 2023, while replacement passenger tire shipments, the largest category tracked, will remain relatively flat (221.2 million units this year versus 219.2 million units in 2023).
Replacement passenger, light truck and truck/bus tire shipments will have a total increase of 5.4 million units in 2024, according to the USTMA.
Meanwhile, the trade association reported that original equipment shipments for passenger tires will be unchanged from 2023 at 45.7 million units, while OE light truck shipments are expected to increase 5.5 percent to 6.2 million units.
At the same time, medium truck/bus tire shipments will fall 5 percent to 5.9 million units.
The trade association—which represents a dozen tire companies with U.S.-based manufacturing capacities—did not provide reasons for its forecast.
The USTMA does not provide projections for manufacturing or imports/exports. In 2023 domestic production fell in all three major categories: passenger tire output down 5.1 percent to 95.6 million units; light truck tire production down 11.3 percent to 23.4 million units; and truck/bus tire output down 8 percent to 12.4 million units.
