WASHINGTON—The U.S. Tire Manufacturers Association is projecting 2024 as another record year for tire shipments, thanks in part to strong replacement tire volumes, particularly for light truck and truck tires.
According to its latest report, USTMA anticipates 2024 shipments to come in around 338.9 million units. This marks an improvement over the 331.9 million last year and the previous record of 335.2 in 2021.
On the replacement side, passenger tire shipments are expected to come in around 222.3 million units, an uptick of about 1.4 percent year over year.
Meanwhile light truck and truck tire shipments are anticipated to be around 36.3 million units and 23.4 million units, respectively. This represents a year-over-year increase of 5.8 percent for light truck tires and 12.5 percent for truck tires.
For original equipment, USTMA is forecasting passenger tire shipments to come in around 44.5 million units, which is down about 2.6 percent compared to 2023.
On the other hand, light truck tire shipments are poised to come in around 6.7 million units, an increase of 14.6 percent over 2023. Truck tire shipments should be around 5.8 million units, a 6.2 percent increase year over year.
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