Tyre Industry
Executive Summary
The apparent UK market for tyres was valued at £1.16bn in 2000. The market has remained relatively stable since 1997, a year in which the apparent market had fallen 9% from the 1996 figure of £1.27bn. There was a slight fall of 1% in the apparent market value in 2000.
The main product sectors for tyres are passenger vehicles, light commercial vehicles, heavy commercial vehicles, agricultural vehicles, civil engineering vehicles, industrial vehicles and others (including motorcycle tyres, bicycle tyres and aircraft tyres). Tyre products include inner tubes and tyre flaps, although these last two sectors are very minor. The passenger car tyre sector is the largest in the market.
The market has been affected recently by factory closures, with tyre manufacturers seeking to move plants to the lower-wage economies of Eastern Europe, Portugal, South America and Asia. However, new production techniques have made production far more automated and certain plants may be reprieved. Low-price imports have yet to make much impact on the market.
The high-performance sector of the passenger car tyre sector has experienced steady growth, fuelled by the current vogue for sports utility vehicles and 4x4 cars. This sector has also been the subject of recent controversy following the recall of Bridgestone tyres fitted to the Ford Explorer vehicle in the US.
The market is expected to remain stagnant in the foreseeable future, although the passenger vehicle tyre and solid industrial vehicle tyre sectors will experience growth. The commercial vehicle tyre market is expected to decline, however, resulting in a market with similar levels to the current value.
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