Traditionally, wheels and tires are among the first upgrades that vehicle owners make to their cars or trucks. In fact, SEMA Market Research has identified them as "gateway drugs" to further vehicle modification, making them key products driving consumer engagement with the aftermarket.
According to the "2021 SEMA Market Report," the market size for performance and special-purpose tires, off-road and oversize tires and custom wheels grew to $2.64 billion, $2 billion and $1.45 billion, respectively, through 2020. While those numbers imply that the wheel and tire category stayed largely buoyant through the pandemic, some market observers caution that challenging undercurrents may lay ahead—especially for the tire industry.
The February issue of SEMA News Magazine highlighted increasing regulation, rapidly changing consumer purchasing habits and other market forces that stand to impact independent tire retailers the most. Read the article at this link: https://www.sema.org/news-media/magazine/2022/02/tire-and-wheel-trends.