Recently, the U.S. Tire Manufacturers Association (USTMA) made a forecast for the tire market sales in 2022-the tire market in 2022 is expected to continue to explode and exceed sales in 2021.
According to USTMA's forecast, the US market is expected to sell 5.1 million tires in 2022, of which the original equipment market is expected to usher in a sales growth of more than 5%. In the heavy truck original equipment market, as the shortage of transport drivers is effectively improved, the sales in this field are expected to increase by 6.3% year-on-year. Such a bold speculation is based on the "chip shortage" that will continue to interfere with the automotive industry in 2021. The problem of "chip shortage" is gradually being solved. With the continuous launch of new cars, the original equipment business of tire companies is gradually recovering.
The same is true in the domestic market. The Ministry of Industry and Information Technology of China recently stated that the shortage of automotive chips in China has gradually eased. For the gap that still exists, the next step will support the collaborative innovation of vehicle, parts, and chip companies. Orderly increase China's domestic chip production and supply capacity. This means that with the increase in automobile production, the demand for original tires will further expand. Therefore, industry insiders speculate that in 2022, the global market demand for original equipment will usher in a substantial increase.