Political Factors Driving the UK Tire Market

The UK tire market is anticipated to grow with a modest CAGR of 2.0% during the forecast period (2020-2026). Growth in the average distance by passenger cars, growing demand for high-performance tires are some of the major factors driving the market growth. However, decreasing vehicle, Brexit, and COVID-19 pandemic are restraining market growth. 

UK was the second-largest vehicle market in Europe till 2018. However, with the decreasing vehicle sales France takeover it. The vehicle sales of UK had reached high to 3.12 million in 2016 which has reduced to 2.67 million in 2019. Brexit can also impact market growth as vehicle exports can be decreased from the UK in the near future. For instance, due to decline sales in Europe Honda and Ford announced to close their Swindon and Bridgend plants respectively, in 2019. 

Browse the full report description of "UK Tire Market Size, Share & Trends Analysis Report By Vehicle Type (Passenger Cars, Light & Medium Commercial Vehicle, Heavy Commercial Vehicle, Two-Wheeler and Other), By Road Application (All-Season Tire, Summer Tire, Winter Tire and Other), By Construction (Radial Tire and Bias Ply Tire), By Tire Type (Tubeless Tire and Tubbed Tire), By Sales Channel (OEM and Aftermarket) Forecast Period 2020-2026" at https://www.omrglobal.com/industry-reports/uk-tire-market

However, government regulations are also working in the favour of the market. In July 2020, in order to increase the safety of the vehicle, the Department for Transport announced that tires aged 10 years or older will be banned on the front axles of lorries, buses, and coaches. As per the government estimated around 1% of the total tires used are more than 10 years old which has to be replaced as per new rules, thus will provide some relief to the market. 

Market Coverage

• The market number available for – 2019-2026
• Base year- 2019
• Forecast period- 2020-2026
• Segment Covered- 

o Vehicle Type 

o Road Application 

o Construction 

o Tire Type 

o Sales Channel 

• Countries Covered- 

o UK

• Competitive Landscape- Bridgestone Corp., Continental AG, Cooper Tire & Rubber Co., Goodyear Tire and Rubber Co., Michelin Group, Pirelli & C. S.p.A.

Key questions addressed by the report

• What is the market growth rate?
• Which segment dominates the market in the base year?
• Which segment will project the fastest growth in the market?
• How COVID-19 impacted the market?

o Recovery Timeline

o Deviation from the pre-COVID-19 forecast

o Most affected region

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

UK Tire Market Report Segment

By Vehicle Type

• Passenger Cars 
• Light & Medium Commercial Vehicle 
• Heavy Commercial Vehicle 
• Two-Wheeler
• Other (Construction, Agricultural, Customized Sports)

By Road Application 

• All-Season Tire 
• Summer Tire 
• Winter Tire 
• Other

By Construction

• Radial Tire 
• Bias Ply Tire

By Tire Type

• Tubeless Tire 
• Tubbed Tire 

By Sales Channel 

• OEM 
• Aftermarket 

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