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2023 U.S. Industry Statistics & Market Forecast - Tire Retreading
Market Size & Industry Statistics
The total U.S. industry market size for Tire Retreading:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2017 2018 2019 2020 2021 2022 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year / six-year demand forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|
| Market Forecast ($ millions) | ||||||
| Projected Industry Growth Rate (%) | ||||||
Industry Insights
The tire retreading industry has been experiencing some significant trends that have had a far-reaching impact on the sector. These trends include the emergence of newer technologies, increasing vehicle sales, a shift towards eco-friendly options, and cost-effectiveness.First, the industry has seen an acceleration in newer technologies, which has enabled retreaded tires to have the same operational efficiency as new ones. As such, businesses in the sector are now able to retread more high-performance tires, enhancing durability, reliability, and safety.
Secondly, improvements in vehicle sales have led to an increase in demand for tires. This rapid growth has prompted consumers to opt for more affordable tire options. Tire retreading has therefore become increasingly relevant due to its cost-effectiveness, and has allowed for more customers to enjoy reliable tires at a lower price point.
Thirdly, there has been a shift towards eco-friendly tires due to global environmental concerns. Customers are increasingly looking for ways to reduce waste and decrease their carbon footprint, and tire retreading provides a sustainable option that reduces waste while still maintaining high-quality performance levels.
Finally, the need to reduce costs has also influenced the tire retreading industry. With intense price competition, customers are searching for cost-effective alternatives to new tires. Tire retreading presents an attractive solution, as it helps control expenses while still delivering high-quality tires.
Overall, the tire retreading industry is undergoing a transformation as it adapts to these major trends. Staying up-to-date and following these trends is crucial for businesses operating in the sector to remain competitive and grow their market share.
Product & Services Breakdown
Research products and services in the Tire Retreading industry generating sales. Note that products are broken into categories with different levels of classification.| Product Description | Sales ($ millions) | Percent of Total Sales | |
|---|---|---|---|
Industry Total |
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Resales - Sales Of Products Bought And Sold Without Further Manufacture, Processing, Or Assembly |
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Miscellaneous Receipts, Including Receipts For Repair Work, Sales Of Scrap And Refuse. |
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U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) | |
|---|---|---|
| Total Revenue | Order at top of page |
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| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Tire Retreading company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Tire Retreading industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
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| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Tire Retreading measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 4% | Order at top of page |
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| Chief Executives | 0% | |||
| General and Operations Managers | 2% | |||
| Office and Administrative Support Occupations | 6% | |||
| Installation, Maintenance, and Repair Occupations | 7% | |||
| Other Installation, Maintenance, and Repair Occupations | 5% | |||
| Production Occupations | 64% | |||
| Assemblers and Fabricators | 7% | |||
| Miscellaneous Assemblers and Fabricators | 7% | |||
| Metal Workers and Plastic Workers | 9% | |||
| Other Production Occupations | 43% | |||
| Extruding, Forming, Pressing, and Compacting Machine Setters, Operators, and Tenders | 12% | |||
| Extruding, Forming, Pressing, and Compacting Machine Setters, Operators, and Tenders | 12% | |||
| Miscellaneous Production Workers | 19% | |||
| Tire Builders | 13% | |||
| Transportation and Material Moving Occupations | 7% | |||
| Material Moving Workers | 6% | |||
Tire Retreading Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Tire Retreading industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Tire Retreading industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Tire Retreading industry. |
Source:
Government Contracts
In 2022, the federal government spent a total of $169,999 on Tire Retreading. It has awarded 6 contracts to 4 companies, with an average value of $42,500 per company.| Most Recent Contracts | Date | Total Award Amount |
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