Magazine for the professional tire industry
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MTD January 2015 T o domestic truck tire dealers, 2014 will go down as a banner year. Replacement truck tire demand increased signifcantly compared to 2013. Shipments were up 10.2%, from 15.7 million units to 17.3 million. Retreaded truck tires grew nearly 5%, from 14.9 million units to 15.6 million (see Chart 16). Te segments combined for 32.9 million tires worth $10.3 billion in replacement sales. Tire manufacturers not only enjoyed the increase in replace- ment sales, but also benefted from a 16% increase in OE sales. According to the Auto Care Association, medium and heavy-duty replacement sales, which include tires, parts, ac- cessories, non-warranty service repair and maintenance for Class 4 through Class 8 trucks, have grown 19.5% since 2009. Of the estimated $81.3 billion market, medium and wide-base truck tires accounted for $4.7 billion. Average new and retreaded truck tire prices were down substantially in 2014 compared to 2013 mainly due to lower raw material costs: Tire segment 2014 2013 2012 New truck $381.50 $401.27 $425.00 Retreaded truck $237.48 $250.24 $228.24 Total medium and heavy truck sales neared 400,000 units for the year, up 12%. Te Auto Care Association projects truck part and maintenance sales will continue to rise steadily, reaching $90.4 billion in 2017. Adding to the good news is a positive forecast from the American Trucking Associations, which predicts 11.6 billion tons of goods will be carried by trucks in 2019. Facts section: Commercial Double digit growth! New truck tires were in demand at the replacement and OE levels last year Chart 14 2014 U.S. MARKET SHARE, RETREADED TRUCK TIRES (based on 15.6 million units) Bridgestone (Bandag) 42.0% Goodyear 25.0% Michelin 23.5% Marangoni 5.0% Others 4.5% Chart 16 2014 TRUCK TIRE REPLACEMENT MARKET BREAKDOWN (Before 2009, the number of retreaded truck tires pro- duced last topped new truck tire shipments in 2004.) 10 15 20 Retreaded New 2014 2013 2012 2011 2010 2009 In 2014, the average price of a retreaded truck tire was $237.48. The average price of a new tire was $381.50. Chart 15 2014 U.S. REPLACEMENT MEDIUM/HEAVY TRUCK TIRE BRAND SHARES (based on 17.3 million units) Michelin 18.0% Bridgestone 17.5% Goodyear 12.5% Yokohama 10.0% Firestone 8.0% Continental 5.0% Double Coin 4.0% General 3.0% Hankook 3.0% Hercules 3.0% Toyo 2.5% BFGoodrich 2.0% Dunlop 2.0% Dynatrac 2.0% Sailun 2.0% Gladiator 1.0% Kelly 1.0% Kumho 1.0% Roadmaster 1.0% Sumitomo 1.0% Others 3.0% 46