UK Tire Market to Undergo Formidable Growth through 2025
Expanding production and
demand for vehicles to drive United Kingdom tire market
According
to TechSci Research report, “United
Kingdom Tire Market By Vehicle Type (Passenger Car Tires, Light Commercial
Vehicle Tires, Medium and Heavy Commercial Vehicle Tires, Off-The-Road (OTR)
Tires, Two-Wheeler Tires), By Design (Radial, Bias), By Rim Size (Less than 15
inches, 15-20 inch, More than 20 inch), By Season Type (Summer, Winter, All
Seasons), By End Use (OEM, Replacement), By Region, Forecast & Opportunities,
2025”, the United Kingdom tire market is expected to witness a significant
growth during the forecast period owing to the large and ever expanding vehicle
fleet size in the country. The increasing production of both commercial and
passenger vehicles, to meet the growing demand is acting as a major factor for
the growth of United Kingdom tire market. Additionally, spike in sales of
passenger vehicles due to the high per capita disposable income is accelerating
the demand for tires in the country. Manufacturers are also coming up with advanced
products like ecological, flat-run and nitrogen-based tires, that are
environment-friendly. This is further anticipated to fuel the United Kingdom
tire market in the coming years.
Moreover, thriving electric vehicles market is also
one of the key factors creating the demand for tires. The strict emission laws
and subsidies provided by the United Kingdom government is propelling the
demand for electric vehicles, which in turn is supporting the tire industry.
Further, the reduction in rubber prices is expected to boost the growth of tire
market. However, UK's completion of the withdrawal from the European Union in
December ,2019 is likely to impact the tire industry and domestic trade
inflows.
Browse
XX market data Tables and XX Figures spread through XXX
Pages and an in-depth TOC on "UK Tire Market"
https://www.techsciresearch.com/report/united-kingdom-tire-market/4995.html
United
Kingdom tire market is segmented based on vehicle type, design, rim size, season
type, end use and region. Based on vehicle type, the market is segmented into passenger
car tires, light commercial vehicle tires, medium and heavy commercial vehicle
tires, Off-The-Road (OTR) tires and two-wheeler tires. Among them, the
passenger car tires segment is expected to undergo high growth during the
forecast period owing to rise in number of passenger car vehicle registration
in United Kingdom. The increasing car production is further making passenger
car tire market the dominant segment.
Based
on season type, the United Kingdom tire market is segmented into summer, winter
and all seasons. Among them, the all seasons tires held largest market share in
2019 and are further expected to hold clear dominance during the forecast
period owing to their increased use in automobiles. Their all-round
performance, reliability and durability are making them the preferred choice
among both automobile manufacturers and consumers.
Major
players operating in the United Kingdom tire market include Michelin Tyre plc, Pirelli
UK Tyres Ltd, Cooper Tire & Rubber Co Europe Ltd, Goodyear Dunlop Tyres UK
Ltd, Continental Tyre Group Ltd., Bridgestone United Kingdom Limited, Hankook
Tyre UK Limited, Kumho Tyre UK Limited, Toyo Tires (UK) Limited and Yokohama
HPT Limited. Manufacturers are undertaking growth strategies like partnerships,
mergers & acquisitions to increase their market share in United Kingdom.
Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=4995
Customers
can also request for 10% free customization on this report.
“The
strong economy of United Kingdom is making it one of the largest consumers of
automobiles, especially passenger cars. This provides lucrative growth
opportunity for tire manufacturers. A major portion of demand for tires comes
from London and South East region owing to their high level of urbanization and
large automobile fleet size. Besides, government push for adoption of electric
fuel is anticipated to positively impact the growth of the market.,” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“United Kingdom Tire Market By Vehicle Type (Passenger
Car Tires, Light Commercial Vehicle Tires, Medium and Heavy Commercial Vehicle
Tires, Off-The-Road (OTR) Tires, Two-Wheeler Tires), By Design (Radial, Bias),
By Rim Size (Less than 15 inches, 15-20 inch, More than 20 inch), By Season
Type (Summer, Winter, All Seasons), By End Use (OEM, Replacement), By Region, Forecast
& Opportunities, 2025” has
evaluated the future growth potential of United States tire market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in United Kingdom tire market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]