UK's tire market is expected to witness a modest growth at a CAGR of 2.0% during the forecast period (2020-2026). The country is one of the major vehicle industries all across the globe. As per the OICA, the country produced around 1.4 million vehicles in 2019. Out of this, 1.3 million were passenger cars and around 78,000 were commercial vehicles. The country has a vehicle fleet of around 40 million in 2018. Out of this, the share of passenger cars was 34.9 million, whereas the commercial vehicle was 5.1 million in 2018. However, decreasing vehicle sales, and Brexit are some of the restraining factors for the country’s market. 

UK tire market is segmented on the basis of vehicle type, road application, construction, tire type, and sales channel. By the sales channel, the market is bifurcated into OEM and aftermarket. OEM is expected to hold a major market share during the forecast period. 

Some of the key players of the UK tire market include Bridgestone Corp., Continental AG, Cooper Tire & Rubber Co., Goodyear Tire and Rubber Co., Michelin Group, Nokian Tyres PLC, Pirelli & C. S.p.A., The Yokohama Rubber Co, Ltd., Trelleborg AB among others. The market players are significantly contributing to the market growth by adopting various strategies including mergers, & acquisitions, collaborations, new product launch, and geographical expansion, to stay competitive in the market. 

Research Methodology

The market study of the UK tire market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts to bring more authenticity to the reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for tire manufacturers & distributors, automakers, auto-ancillary companies, start-ups, venture capitalists, seed funders, research organizations, and other related organizations for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, products offered by the companies, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights into the market for making better business decisions. 

Market Segmentation

1. UK Tire Market Research and Analysis by Vehicle Type
2. UK Tire Market Research and Analysis by Road Application 
3. UK Tire Market Research and Analysis by Construction
4. UK Tire Market Research and Analysis by Tire Type
5. UK Tire Market Research and Analysis by Sales Channel

The Report Covers

• Comprehensive research methodology of the UK Tire market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the UK Tire industry.
• Insights about market determinants which are stimulating the UK Tire market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.