RMA: Replacement Tire Market Outshines OE in 2016
The final 2016 forecast by the Rubber Manufacturers Association (RMA) of U.S. tire shipments shows a slight overall increase for the year. And the news is better for the replacement market than for original equipment tire orders.
|2015 Final||2016 Forecast||% Change||Unit Change|
All shipments are in millions, and figures are rounded by the RMA. Numbers in parenthesis are negative.
Five things to know:
- These estimates from the RMA cover all shipments, including RMA members as well as non-members.
- Only one segment of the market has shown improvement in both OE and replacement shipments — and that’s light truck tires. In OE LT tires are up 9.5%, and in replacement they’re up 7.9%.In both categories the figures are beating the RMA's projections for the year which were published in March.
- Passenger tire shipments are down slightly for both OE and replacement.
- OE truck tires took the biggest hit in 2016, with an estimated 1.1 million fewer tires shipped, down 17.6% compared to 2015. Replacement truck tires had a better year, with growth of about .4 million, or 2.5%.
- Overall, 2016 tire shipments are up less than 1 million tires, or .3%, to 314.4 million.