DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/pmwmx8/tyre_industry) has announced the addition of the "Tyre Industry Market Report 2014" report to their offering.
The authors' estimate that the apparent UK market for rubber tyres and tubes grew in value by 3% in 2013, after a strong recovery from the decline exhibited in 2012.
The UK tyre market is divided into a number of different market sectors depending on final application, including tyres for motor cars; tyres for light commercial vehicles; tyres for motorcycles and bicycles; rubber tyre flaps and inner tubes; tyres for aircraft; tyres for heavy commercial vehicles; and tyres for a range of other applications, such as agricultural, forestry, construction or industrial handling vehicles. The report also examines the market for retreaded tyres, covering products manufactured for buses and lorries; motor cars; and aircraft, construction and industrial vehicles.
The estimated growth in the UK market in 2013 has largely been driven by the strong performance of the automotive industry in recent years. Following a significant decline in 2009, the vehicle manufacturing industry has seen considerable growth, with increasing investment from across the major global vehicle brands in domestic production, in an effort to meet rising demand from the emerging global economies. Domestic demand has also been improving throughout 2013, with rising monthly registrations in comparison with the corresponding period in the previous year leading to forecast annual growth in excess of 10% in the new car and new van segments.
Another major issue impacting the tyre market has been the introduction of tyre labels and tyre pressure monitoring systems (TPMSs). In November 2012, tyre labelling became a requirement under European law and the corresponding UK legislation, in an effort to improve fuel efficiency and therefore reduce carbon emissions through the provision of easily digestible ratings regarding fuel consumption, wet grip and external noise. At the same time, the EU made TPMSs mandatory on all new models of cars and vans to be expanded in 2014 to cover any new car and van in order to provide motorists with greater information on tyre pressure and temperature.
With economic conditions improving, UK automotive manufacturing and domestic vehicle registrations are expected to continue to see growth from 2014 onwards although at steadier rate than 2013. The authors estimate annual increases in the value of the apparent UK tyre market. Over the next few years, growth is expected to be relatively subdued, with more significant increases anticipated from 2015/2016 onwards as economic conditions recover in earnest.
Company Profiles
- ATS Euromaster Ltd
- Bridgestone UK Ltd
- Continental Tyre Group Ltd
- Cooper Tire and Rubber Company Europe Ltd
- Goodyear Dunlop Tyres UK Ltd
- Hankook Tyre UK Ltd
- Micheldever Tyre Services Ltd
- Michelin Tyre PLC
- Pirelli UK Tyres Ltd
- Stapleton's (Tyre Services) Ltd
For more information visit http://www.researchandmarkets.com/research/pmwmx8/tyre_industry
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