RMA: Fewer replacement tire shipments in 2015
The Rubber Manufacturers Association (RMA) predicts total tire shipments in the U.S. will increase to more 310 million units in 2015 but expects demand for replacement passenger tires to drop by 1.2 million units in 2015 compared to 2014.
Total U.S. tire shipments are expected to reach nearly 310 million units in 2014, according to the RMA. The group predicts a slight improvement for 2015 to slightly more than 310 million total units.
In 2015, RMA expects demand will reach 310.6 million passenger, light truck and truck tire shipments, an increase of 0.2% compared to the estimated 309.9 million units for 2014.
Passenger original equipment shipments are expected to increase in 2015 due to anticipated growth in auto sales while replacement tire shipments are expected to decline less than 1%. The RMA expects light truck and commercial truck original equipment and replacement tire shipments to grow in 2015.
Original equipment passenger tires: Passenger OE tire shipments for 2014 are expected to be 47.5 million units. Demand for OE tire shipments is expected to increase approximately 1.2 million units to 48.7 million units in 2015, up 2.5%.
Original equipment light truck (LT) tires: Light truck OE tire shipments for 2014 are projected to be 4.7 million units. Demand for tires in this category is predicted to grow 2.1% to 4.8 million units in 2015.
Original equipment commercial truck tires: Commercial OE tire shipments are expected to be 5.4 million units in 2014. The RMA predicts demand for OE commercial truck tires to grow 3.7% to 5.6 million units.
Replacement passenger tires: Replacement passenger tire shipments are expected to be 205.3 million in 2014. Demand for replacement passenger tires is expected to decrease by 0.6% or 1.2 million units to 204.1 million units.
Replacement light truck (LT) tires: Replacement LT tire shipments are anticipated to be 29.6 million 2014. Tire shipments in this category are forecast to grow 0.3% to 29.7 million units in 2015.
Replacement commercial truck tires: This segment is expected to be 17.4 million units in 2014. This segment is expected to increase by 700,000 units or 0.2% to 17.7 million units.