Tag: MARKET DATA
Sales of zinc and steel balancing weights set to grow
The latest report on the wheel balancing weights market by Persistence Research values the market at US$ 420 million in 2018. According to the report, it is anticipated to reach a value of US$ 750 million by the end of 2029, influenced by the cyclic trend of the automotive industry and new product launches. The wheel balancing weights market is expected to grow at a moderate compound annual growth rate (CAGR) of 6 per cent during the period.
4×4 and SUV product mix shifting towards budget tyres
Larger capacity, increased comfort in the cabin and multi-terrain capabilities are just some of the reasons why motorists are continuing to choose SUVs when purchasing a new vehicle. Indeed, SUVs and crossovers currently account for a third of the UK’s best-selling cars list of 2019 to date, with offerings from Nissan, Ford and Kia among the biggest sellers.
Tyre dominance in overall aftermarket beginning to diminish
The value of the United Kingdom (UK) automotive aftermarket grew by 4.9 per cent during the course of 2018. According to MarketLine, which produces its data in US-dollars across all markets worldwide, this means the UK automotive aftermarket was and is worth $28.5 billion (£22.53 billion) a year. However, the same research suggests that the value of the UK automotive aftermarket sector is increasing and in 2023 is forecast to be worth $34.4 billion (£27.2 billion), up 20.7 per cent compared with 2018.
SUV tyres continue to drive 4×4 tyre sales growth
Sales of SUV tyres continue to drive growth in the UK 4x4 tyre replacement market, with UHP-orientated tyres growing even faster. According to the latest data provided by market analysts GfK, these trends have come while there have been no clear changes in the market’s brand segmentation, which suggests product mix and volume growth must be behind the improvement.
ETRMA: Truck tyre replacement sales up 9 per cent
The latest ETRMA data shows that the performance of the industry is generally stable and followed expectations, with a very positive evolution for truck tyre replacement (+9 per cent). Agricultural tyre sales performed poorly for the fifth year in a row (-4 per cent). As for the last quarter of 2018, all tyre segments showed […]
The increasingly high-value UK tyre replacement market
4x4/SUV and UHP markets continued to grow in 2018 As part of our review of 2018, Tyres & Accessories asked market research specialists to give an overview of some of the key trends that have taken place in the UK car, 4x4 and light truck replacement tyre market trends during the course of the year. In doing so, we have a good foundation for looking forward into 2019 and beyond. What we found was that UK tyre replacement market is increasingly high-performance and increasingly high-value. GfK’s Panelmarket data compares the period between November 2016 and October 2017 with November 2017 to October 2018. Reading left to right, the infographic below shows the percentage share of the panelmarket broken down by vehicle type (passenger car, 4x4 including SUV and light commercial vehicle); key changes in the panelmarket during the last 12 months broken down by rim diameter; brand tier split; and the two five tyre sizes.
Dundee closure ‘supports Michelin’s intent to accelerate cost savings’ – analyst report
An analyst report published by Jefferies International Limited has stated that the closure of Michelin’s Dundee plant “supports [the company’s] intent to accelerate cost savings during 2019-20.” Presenting its nine-month 2018 results in October, Michelin warned that demand had deflated in the car and truck markets and it was revising down its guidance; subsequently Michelin shares fell to a seven-year low.
Michelin predicts significant slowdown in car and truck tyre demand
While presenting its nine-month 2018 results, Michelin has predicted a significant slowdown in passenger and truck tyre market conditions in the second half of the year. However, the well-known tyre manufacturer also predicted “sustained growth” in the speciality sector, which consists of OTR, two-wheel, aircraft and agricultural tyres.
Run-flats set for “huge growth” by 2023
HTF MI has released a new market study on run-flats. The research study, which provides forecasts the size of the run-flat sector till 2025, suggest Bridgestone, Michelin, Goodyear, Continental, Pirelli, Hankook, Sumitomo Rubber, Yokohama, Giti, Kumho and Cheng Shin Rubber are key players.
DriveRightData offering tyre-connected car parc data
DriveRightData is promoting its parc data as “the ultimate forecasting tool for the tyre professional”. According to the company, the strength of its system is that it matches “accurate and comprehensive reports on the number of vehicles in a territory…to DriveRightData’s unique tyre information”. Available in 77 countries and collated from national registration databases, the combination is only said to be supplied by DriveRightData.
All-season tyre prices continue to grow, winter prices flatten
Earlier research based on point of sales system-based sell-out data shows that mid-range all-season tyres are leading market growth, followed by premium tyres (see “Mid-range all-season tyres lead market growth” for more on this). At the same time 4x4 and SUV tyres specifically appear to be driving growth. Both facts point to the hypothesis that market growth is being driven by high-value products, which makes both all-season tyres in general and SUV/4x4 all-season tyres in particular attractive parts of the tyre business to engage in. But what evidence is there that this thesis is supported by sell-out pricing?
2018 UK truck tyre market data overview
The latest data from market analysis specialists GfK suggests that the market is predominantly made up of regional usage 22.5-inch tyres – a trend that is increasing year-on-year. Here Tyres & Accessories takes a look at the latest market data from a number of sources in order to give an overview of current trends. This article focuses on data provided by GfK, but – owing to the fact that it is current hot topic – also analyses different estimates about how many tyres are made in China, something that is outside the scope of the data provided by GfK and therefore our conclusions on this point are something quite separate to GfK’s input.
OTR tyre sales to grow 4.7% CAGR 2017 – 2022
Whether you call them off-the-road, OTR or earthmover tyres, these products are some of the most valuable tyres in the market. And with good reason. Not only are they the physically largest tyre product segment on the planet, these products are often also required to endure the greatest pressures in the most unforgiving circumstances.
![Car tyre market growing in [rim] size](https://www.tyrepress.com/wp-content/uploads/2018/02/gfk-image-200x134.jpg "Car tyre market growing in [rim] size")
Car tyre market growing in [rim] size
The car tyre market is growing in size – at least in terms of rim diameter. According to the latest UK car tyre market sell-out data produced by market research specialists GfK, 39 per cent of market is now made up of 17-inch and larger rim diameter products. And what’s more the trend points to continued growth. The GfK Point of Sales Tracking data compares figures from January to December 2016 with those from January 2017 to December 2017 in order to produce the comparisons published here.
Global truck TPMS market to grow 10% by 2021
Research and Markets published its "Global Commercial Vehicle Tire Pressure Management System (TPMS) Market 2017-2021" report in December. In it the analysts forecast the global commercial vehicle tyre pressure management system (TPMS) market to grow at a CAGR of 10.38 per cent during the period 2017-2021.