Inventory of popular and best-selling specifications in the truck tire market
In 2024, some tire companies disclosed the prices of truck tires of different sizes. Among them, we found that the 22.5-inch tires had the fastest price reduction. The price of some well-known brands of 22.5-inch truck tires has even dropped all the way to less than 700 yuan each. But in the eyes of many industry insiders, such a price drop is not surprising. "22.5-inch tires are almost the most competitive size in the domestic truck tire market. The specifications with high store shipments are almost all concentrated in 22.5 inches. The size specifications that are made by large and small brands are large. The supply is large, and the price is naturally rolled up. It is difficult to make money with this specification."
22.5-inch truck tires, the favorite of the replacement market
Statistics show that in China's truck tire replacement market, the sales volume of 12R22.5 accounts for more than 35%, and the sales performance of 295/80R22.5 in different regions varies, but overall, its share can reach about 8%.
It can be said that these two specifications directly account for nearly half of the sales of some truck tire stores. In overseas markets, 22.5-inch tires are also the mainstream stock size, and are even more popular than in the Chinese market. However, in terms of specific specifications, they are very different from those in China.
In North America, the best-selling specification of 22.5-size tires is 295/75R22.5, which has ranked first in the North American truck tire replacement market for three consecutive years. However, the share of this specification has dropped from 30.1% in 2021 to 28.2% in 2023.
The sales share of 11R22.5 has increased in the North American market in the past two years, from 21.2% in 2021 to 22.1%. The sales share of 255/70R22.5 has remained above 4.5% in the past three years. The above three specifications account for about 55% of the replacement market sales. In the supporting market, the sales share of 22.5-size truck tires is even higher.
22.5-inch truck tires, mainstream in the supporting market
Because of the complex road conditions and long mileage, the replacement cycle of truck tires is naturally shorter. This means that the transmission speed of its supporting specifications to the replacement market is faster. At present, the most popular specification in the North American truck tire supporting market is 295/75R22.5, accounting for 32.5%. This also means that at least in the next three years, 295/75R22.5 will still dominate the North American replacement market for 2 to 3 years.
Similar to the North American passenger car tire supporting market, the top five sales in the North American truck tire supporting market have not changed much in recent years. 11R22.5 has ranked second in sales on the supporting list for three consecutive years, accounting for 28.2% of the supporting market. 275/80R22.5 has dropped from the third to the fourth place in the previous best-selling specifications, but the proportion is still 8.8%.
The above three specifications of 22.5-inch tires account for nearly 70% of the supporting market. This also means that at least in the next three years, 22.5-inch tires will still be the mainstream size in the market. For tire factories, 295/75R22.5 and 11R22.5 are still the necessary specifications for export.
In addition, the proportion of 225/70R19.5-inch truck tires in the US supporting market has been close to 10% in recent years, and this year's North American replacement market, this specification accounts for 9.1%.
22.5-inch sales, 20-inch and 16-inch profits
In the domestic truck tire replacement market, the sales share of 10.00R20 is not low, and it has been maintained at about 8% for many years. This specification can only be ranked among the top three heavy truck replacement specifications. A tire company with truck tires as its main business said that the sales of 20-inch all-steel tires accounted for 44% of its revenue.
At the same time, the price of 20-inch tires in the truck tire market is higher than that of 22.5-inch tires-the average price of a single tire can reach nearly 1,000 yuan, and the gross profit can even reach about 24%. In addition, because the medium and short-distance transportation situation has been good in recent years, the sales volume of 16-inch light truck tire products is not too low.
Both 7.00R16 and 7.50R16 are among the top five truck tire sizes sold in truck tire stores, accounting for 18.1% and 6.03% of the market respectively. At the same time, the profits of 16-inch truck tires are also guaranteed to a certain extent. Tire companies said that the current gross profit margin of 16-inch truck tires exceeds 22%, an increase of about 8% year-on-year compared to 2023, and it is one of the few truck tire sizes in the domestic all-steel tire market with an increase in profits.
