United Kingdom Tyre Market Overview, 2029

The United Kingdom tyre market has a rich history and plays a significant role in the broader automotive industry. The sector, valued at approximately £1.4 billion, is crucial for both economic stability and employment, facing challenges from high energy costs and competitive pressures from international markets. Historically, the UK tyre industry has evolved alongside automotive advancements, with early developments in the late 19th century focusing on bicycle tyres before expanding to motor vehicles. Over the decades, key innovations such as the introduction of radial tyres and advancements in materials have shaped the market. The demand for tyres has been influenced by several factors. The growth in vehicle production and an increase in replacement tyre needs due to wear and tear are primary drivers. Additionally, the shift towards eco-friendly and fuel-efficient tyres reflects changing consumer preferences and regulatory pressures aimed at reducing carbon emissions. The British Tyre Manufacturers Association (BTMA) emphasizes the need for government support to address high energy prices and ensure fair trade practices, which are critical for maintaining competitiveness in a global market that has seen a 4.7% decline in revenue over the past five years. Furthermore, the UK tyre market is adapting to environmental challenges by investing in sustainable practices and materials, responding to both consumer demand and regulatory requirements.

According to the research report "United Kingdom Tyre Market Overview, 2029," published by Bonafide Research, the United Kingdom Tyre market is expected to reach a market size of more than USD 4 Billion by 2029. The United Kingdom tyre market is experiencing notable growth, driven by several key trends and the involvement of major players in the industry. Currently valued at approximately £1.4 billion, the market is projected to evolve significantly due to increasing vehicle production, particularly in the electric and hybrid segments. As consumer preferences shift towards environmentally friendly options, manufacturers are focusing on developing advanced tyre technologies, such as smart tyres equipped with sensors that monitor pressure and traction, enhancing safety and performance. Key players in the UK tyre market include global giants like Michelin, Bridgestone, Continental, Goodyear, and Pirelli. These companies dominate the landscape by offering a diverse range of products tailored to various vehicle types and consumer needs. Michelin leads the market with strategic acquisitions that bolster its position, while Bridgestone and Continental are also significant competitors, continually innovating to meet the demands of modern consumers. The retail sector sees strong competition among chains like Kwik Fit, which remains a leader in tyre services, alongside other growing retailers such as HiQ and ATS Euromaster. The rise of electric vehicles (EVs) is particularly influential, as these vehicles require specialised tyres designed for efficiency and performance. This trend is mirrored across Europe, where the shift towards EVs is prompting tyre manufacturers to invest in research and development for innovative solutions that cater to this growing segment.

The tyre market in the United Kingdom is segmented into various categories based on vehicle types, each experiencing distinct developments and demand dynamics. Passenger cars dominate the market, driven by a growing fleet of personal vehicles and increasing vehicle ownership. This segment has seen a significant rise in demand for replacement tyres, with estimates suggesting that annual passenger car tyre replacements exceed 30 million units. The trend towards electric vehicles (EVs) is also influencing this segment, as manufacturers develop specialised tyres that enhance efficiency and performance.Light commercial vehicles (LCVs) represent another crucial segment, benefiting from the expansion of e-commerce and logistics services. The demand for LCV tyres is rising as businesses increasingly rely on these vehicles for deliveries and transportation. This shift is prompting manufacturers to innovate with durable and fuel-efficient tyre options that cater specifically to the operational needs of commercial fleets.The heavy commercial vehicle (HCV) segment is also witnessing growth, driven by the need for robust tyres that can withstand the demands of long-haul transportation. As logistics and freight services expand, there is a corresponding increase in demand for reliable HCV tyres, which are essential for maintaining safety and efficiency in heavy-duty applications.The two-wheeler and three-wheeler segments are experiencing steady demand as well, particularly in urban areas where these vehicles are popular for their convenience and cost-effectiveness. The rise of urban mobility solutions has led to an increased focus on developing tyres that offer enhanced grip and durability for these smaller vehicles.

The UK tyre market is characterized by two primary construction types: radial and bias ply tyres, Radial tyres are constructed with layers of fabric cords arranged radially from the center of the tyre, which allows for flexibility in the sidewalls while maintaining a strong tread. This design enhances heat dissipation, improves fuel efficiency, and provides better traction on various surfaces. The wider contact patch of radial tyres contributes to superior handling and stability, making them the preferred choice for passenger cars and light commercial vehicles.The demand for radial tyres continues to rise in the UK due to increasing vehicle ownership and a growing preference for high-performance vehicles. As consumers become more environmentally conscious, the shift towards energy-efficient radial tyres is expected to accelerate. Bias ply tyres feature a construction where layers of fabric cords are laid at angles across one another, providing a robust structure that excels in heavy-duty applications. This design allows bias tyres to carry heavy loads and perform well on rough terrains, making them ideal for trucks, agricultural machinery, and construction vehicles. While bias ply tyres are less prevalent in passenger vehicles compared to radial tyres, recent innovations have focused on enhancing their durability and performance. Manufacturers are experimenting with new materials such as reinforced rubber compounds that improve heat resistance and reduce wear.

The OEM segment encompasses tyres supplied directly by manufacturers to automotive companies for new vehicles. This segment is critical as it caters to the increasing production of passenger cars, light commercial vehicles, and heavy commercial vehicles. Major tyre manufacturers such as Michelin, Bridgestone, and Goodyear play a significant role in this sector by developing tyres that meet the specifications and performance requirements set by automakers. The demand for high-quality OEM tyres is driven by the need for safety, performance, and fuel efficiency in new vehicles. As vehicle technology advances, there is a growing emphasis on integrating smart tyre technology—such as sensors that monitor pressure and temperature—into OEM offerings, reflecting a shift towards more innovative and efficient products. The replacement segment addresses the needs of consumers who require new tyres for their existing vehicles due to wear and tear or seasonal changes. This segment holds a substantial share of the market, with estimates suggesting that annual replacement tyre demand in the UK exceeds 30 million units. The distribution channels for replacement tyres are diverse, including both offline and online platforms. Offline channels comprise traditional retail outlets, specialty tyre shops, and automotive service centers where consumers can physically inspect products before purchase. Conversely, online distribution has been gaining momentum, driven by the convenience of e-commerce platforms that allow consumers to compare prices and access a wider range of products from various manufacturers.

COVID-19 Impact
The Covid-19 pandemic affected almost every industry vertical across the globe and the tire market in the region of North America was no exception. The enforcement of lockdowns along with the travel restrictions across countries significantly affect the tire market. The situation of lockdowns caused production in the automobile industry to stop which affected the demand from the OEM sector. On the other hand the market was also observing decline from the replacement sector during the pandemic as the requirement for new tires declined.

Key Players
Apollo Tires, Bridgestone, CEAT Tires, Continental, Giti, Goodyears Tires, Hankook, JK tires, Kenda Kumho, Maxxis International, Michelin, MRF, Nexen Tire Corp, Nokian Tires, Pirelli, Sailun Group Co., Ltd, Sumitomo Rubber Industries, Titan International , Toyo Tire Corporation, Triangle Tire Co, Zhongce Rubber Group Co, Yokohama, Doublestar Tire, Linglong, Nankang

Considered in the report
• Geography: United Kingdom
• Base Year: 2023
• Historical year: 2018
• Forecasted Year: 2029

Aspects covered in the report
• Market Size by Value (2018-2029F)
• Market Size by Volume (2018-2029F)
• Market Share by Vehicle Type
• Market Share by End Use
• Market Share by Design
• Market Share by Sales Channel
• Market Share by Country

The approach of the report:
We keep an eye on evolving markets and try to evaluate the potential of the products and services. If we find the market interesting, we start working on it and create the desired table of content, considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personnel, company owners, dealers, distributors, and end-users. Once the questionnaires have been finalized, we start collecting the primary data (mostly through phone calls) and try to understand the market dynamics regionally or tier-wise. This process gives us in-depth details of the market, including all present companies, the top-performing products with reasons why they dominate; we get the details of new players and their innovative approaches; market trends; dynamics; and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. From this, we get a rough estimate of the market and start checking existing product price variants, trade, production, raw material scenarios, policies and regulatory landscape, etc. Then, to finalize the market, we start collecting financials of each player present in the market, including limited, private limited, and LLPs. Moreover, we perform cross-industry and cross-region analysis of the product, and based on collected primary inputs and using statistical modeling, we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but gives more weight age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together crosscheck the segmentations, validate the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in the form of strategic recommendations for new as well as existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free.

Intended Audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Automotive and Transport industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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