US Tyre Demand to Increase by 4.1 per cent
The Rubber Manufacturers Association (RMA) has said that it expects demand for tyres to increase by 4.1 per cent in the US. The growth is attributed mainly to “broad-based economic growth in the consumer and commercial sectors.” According to the association, this growth is expected to continue over the next few years inline with the US economy’s moderate growth pattern. Overall, the combined original equipment (OE) and replacement shipments for both the car and truck categories are anticipated to increase by 12.6 million units to nearly 323 million units. In 2003 it amounted to 310.3 million. The association is projecting that this figure will reach 356 million units by 2009.
In addition, the RMA’s Tire Market Analysis Committee made forecasts for key categories. The committee expects the OE passenger tyre sector to experience a decline of just over one per cent during 2004 with approximately 54 million units shipped. The figure is expected to stabilise at nearly 56 million units in 2009 with little growth expected. In general the committee expects demand to be propped up by the replacement markets. RMA analysts predict a four per cent growth in demand for passenger cars in 2004, which is due to continue at 2.4 per cent as far as 2009. Growth, although to a lesser extent, is also expected in the truck tyre market. This market is expected to grow to approximately 16 million units in 2004. In the future it is expected to grow at more than two per cent per year through to 2006.