UK tyre market valued at £3.2 billion – report

In its new report on the British tyre market, TechSci Research calculates the total value of the UK tyre market this year to be around US$5 billion, or approximately £3.2 billion. The report, titled ‘United Kingdom Tyre Market Forecast & Opportunities, 2019’, opines that tyre demand in the UK will be boosted in the coming five years by anticipated growth in the country’s automotive industry and expansion of the overall vehicle parc.

Other pertinent details include market composition – TechSci Research pegs demand from the passenger car tyre segment at more than 80 per cent of the total, and the remainder is accounted for, in order of size, by the commercial vehicle, two-wheeler and OTR tyre segments. Original equipment tyres only account for 20 per cent of total market volume share. Geographically, more than 85 per cent of all UK market demand comes from England – hardly surprising when considering that 85 per cent of UK residents live in England – with Greater London the epicentre.