Replacement truck tires = double-digit demand
Last year was a good one for both truck tire sales and truck tire retreading, at least in terms of units. Truck tire shipments, in particular, experienced double-digit growth in 2014 vs. 2013.
Demand matched supply, and although the average truck tire and retreaded truck tire prices were down, so were raw material costs.
We broke down the $10.3 billion truck and retreaded truck tire market in the 49th annual Modern Tire Dealer Facts Issue. Compared to 2013, replacement truck tire shipments were up 1.6 million units, while the number of retreaded truck tires was up 800,000 units. Here is a quick list of some of the 2014 statistics.
No. of new truck tires shipped: 17.3
Avg. cost of a new replacement truck tire: $381.50
No. of retreads produced: 15.7 million
Avg. cost per retread: $237.48
Replacement truck tire market value: $6.6 billion
Retreaded truck tire market value: $3.7 billion.
The price gap between a new truck tire and a retread was nearly $200 in 2012. It was close to $150 in 2013. And it was $144.02 last year.
At the original equipment level, truck tire shipments were up a whopping 16%. That's good news for commercial tire dealers down the road.
The 2015 Modern Tire Dealer Facts Issue does more than just break down the replacement truck tire market. It also takes a comprehensive, accurate look at the domestic tire market only days after the year has concluded.
See our January 2015 digital issue here.
See our 2015 Facts Section here.
For more information about the tire industry in 2014, check out these links: