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Tire Industry Market Report 2010

3/29/2010 - Dublin, Ireland - According to a report published by Research and Markets, the apparent U.K. market for rubber tires and tubes was worth an estimated 1.29 billion at manufacturers' selling prices (msp) in 2009, a reduction of 12.6 percent from the figure for 2008. The economic recession and its impact on the automobile manufacturing sector, both in the U.K. and overseas, was a major contributing factor in the decline. The main product sectors considered in this market report include tires for motor cars; tires for light commercial vehicles; tires for heavy commercial vehicles; tires for motorcycles and scooters; tires for other applications, including tires for agricultural vehicles, bicycles, aircraft, civil engineering vehicles, construction or industrial handling vehicles and machines, and solid tires; and retreaded and rebuilt rubber tires. Tires for motor cars constitute the largest sector of the market. A number of trends characterized the U.K. tire industry in 2009. The sharp decline in U.K. vehicle manufacturing significantly affected demand for original equipment (OE) tires. The market for replacement tires for passenger cars appears to have fared better, although the replacement market for commercial vehicle tires was badly affected. Falling demand also seems to have reduced the level of tire imports, and tire exports may have benefited from the fall in the value of sterling against other world currencies. Despite this, import penetration of the U.K. tire market now exceeds 100 percent. U.K. tire producers and suppliers will face a number of legislative changes during and after 2010. In March 2010, new S-marking legislation aimed at reducing noise from tires is set to come into force. In November 2010, EU tire-pressure monitoring system (TPMS) legislation is due to be introduced, and from November 2012 all new tires on sale in Europe will need to be classified and labeled for fuel efficiency, wet grip and noise performance. The apparent U.K. market for rubber tires and tubes is expected to show some recovery in 2010 as the overall U.K. economy returns to growth and has a positive impact on demand for automotive products, including tires. On the downside, new car registrations in the U.K. are currently forecast to decline further in 2010, and U.K. vehicle output, although possibly recovering in 2010, may also remain weak. Accordingly, levels of growth in the U.K. tire market are expected to remain fairly modest over the period to 2014.

Research and Markets
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