Tyre Industry - Market Report
The apparent UK market for rubber tyres and tubes was worth an estimated £1.36bn at manufacturers’ selling prices (msp) in 2007, having increased by 5% on 2006 and by 15.3% since 2003. Production of tyres in the UK is steadily falling, although imports continue to rise and account for an increasing proportion of domestic supply.
The main product sectors considered in this report are: tyres for passenger vehicles; tyres for light commercial vehicles; tyres for heavy commercial vehicles; tyres for motorcycles and scooters; other tyres, which includes tyres for agricultural vehicles, civil-engineering vehicles, construction or industrial handling vehicles, bicycles and aircraft; and retread tyres. Inner tubes and tyre flaps are other minor sectors. Passenger-car tyres make up the largest sector of the market.
There is a steady and ongoing reduction in the number of companies engaged in the manufacture of rubber tyres and tubes in the UK and also in the numbers involved in the retreading and rebuilding of rubber tyres. Some of this reduction results from the decisions of the major multinational tyre manufacturers to close some of their UK plants, while a number of the smaller manufacturers have also left the market because of its highly competitive nature.
The leading international tyre manufacturers continue to switch their production facilities to low-cost countries. For example, Continental Tyre Group is one of the many producers to have established new manufacturing facilities in the People’s Republic of China, and Bridgestone is developing its plants in countries such as India and Indonesia. Goodyear plans to build new tyre factories in Asia and Eastern Europe, and Michelin is expanding production at its plant in Poland. New production capacity and distribution networks are also being set up in countries such as Russia, Brazil and Thailand. The trend for establishing and expanding production plants and facilities in these low-cost countries continues to put financial pressure on higher-cost plants in Europe and North America.
The value of the UK tyre industry is forecast to show slow but steady growth between 2008 and 2012. However, most of this expansion will be supported by further imports and UK domestic tyre production is likely to decline further. The strength of the UK economy, increases in the cost of raw materials, the manufacturing output of the UK vehicle industry and the impact on the UK market of global tyre industry trends will all affect the UK tyre industry over this 5-year period.
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