How Many Tires Actually Need Repairing?
Tire repair businesses rarely restrict themselves to just repairing tires. Often, auto service companies start repairing tires and then branch out. Still, tire repair is a major pillar of the business. But how many tires need repairing?
Many tire repair businesses are looking to grow and expand their franchises into new locations. Can the market really sustain this growth?
Exact numbers are hard to nail down, but globally the automotive aftermarket is worth about $700 billion USD. Clearly, that is a huge number, but what exactly is the automotive aftermarket? It’s the collected business of all transactions concerning automobiles after their initial sale to the public. As you can imagine, automotive repair accounts for the lion’s share of this market. And not only is the automotive aftermarket huge, it is growing. Most estimates have it reaching the trillion dollar mark this decade, possibly as early as 2022.
This growth is encouraged by two main factors: population growth and vehicle age. More people in America means more people with vehicles and the average age of those vehicles is at a record high. So, the automotive aftermarket is definitely growing. Whether each individual tire repair franchise is growing is a different question. That is why you must choose which tire repair business you buy very carefully.
But does the average age of vehicles really affect how many tires are repaired? Business might be good for the automotive aftermarket in general, but what does this mean for tires, specifically?
When you look at a breakdown of the different aspects of the automotive aftermarket, you begin to realize just what a big business tires are. Of all replacement parts, tires represent a plurality of all the money generated within the industry. In layman’s terms, this means tires are replaced more than any other vehicular component. And when you think about it, this makes sense. Your tires are the only part of your automobile that touches the ground. (At least, they’re the only part that’s ever supposed to touch the ground.) There’s far more friction with tires, so of course they wear down faster than any other part. Furthermore, in colder climates, tires should be swapped out for winter tires and then changed back in spring.
Tires do more business than any replacement part. But what about tire repairs? How many tires are repaired every year?
About 200 million tires are purchased every year in America for passenger vehicles and light trucks. That means Americans are spending $20 billion every year. On tires! These numbers are staggering but they’re more impressive when you realize that tires now generally last longer than they did 30 years ago. And one of the reasons for that is the improvement in tire repair. How many tires are repaired every year? This number is impossible to say. We have a record of every replacement tire that is purchased but not all repairs are tracked. But for tire repair businesses, it really doesn’t matter. Whether you repair or replace the tire, you’re doing business. And there is a lot of business to be done.
Contact Tuffy Tire & Auto Service
At Tuffy, we repair and replace a lot of tires. To learn more about our tire repair business, please contact us.Back