United Kingdom: Passenger Car Tyre Market 2024

Passenger Car Tyre Market Size in the UK

In 2021, the UK passenger car tyre market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Passenger Car Tyre Production in the UK

In value terms, passenger car tyre production stood at $X in 2021 estimated in export price. Overall, production, however, continues to indicate a perceptible downturn. The pace of growth appeared the most rapid in 2017 when the production volume increased by 8.9% against the previous year. Passenger car tyre production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Passenger Car Tyre Exports

Exports from the UK

In 2021, overseas shipments of tyres for motor cars decreased by -39.7% to X units, falling for the fourth consecutive year after three years of growth. Over the period under review, exports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2015 with an increase of 13% against the previous year. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, passenger car tyre exports declined remarkably to $X in 2021. In general, exports saw a deep slump. The growth pace was the most rapid in 2013 with an increase of 5% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Ireland (X units) was the main destination for passenger car tyre exports from the UK, with a 25% share of total exports. Moreover, passenger car tyre exports to Ireland exceeded the volume sent to the second major destination, the Netherlands (X units), twofold. The third position in this ranking was held by the United States (X units), with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Ireland amounted to -7.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-9.9% per year) and the United States (-5.5% per year).

In value terms, Ireland ($X), the Netherlands ($X) and the United States ($X) appeared to be the largest markets for passenger car tyre exported from the UK worldwide, with a combined 41% share of total exports. These countries were followed by Slovakia, Germany, Belgium, China, France, Italy, the United Arab Emirates, Spain and Slovenia, which together accounted for a further 44%.

In terms of the main countries of destination, Slovakia, with a CAGR of +69.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average passenger car tyre export price stood at $X per unit in 2021, increasing by 40% against the previous year. Over the period under review, the export price saw pronounced growth. The most prominent rate of growth was recorded in 2020 an increase of 42% against the previous year. The export price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Italy ($X per unit), while the average price for exports to Slovenia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+6.6%), while the prices for the other major destinations experienced more modest paces of growth.

Passenger Car Tyre Imports

Imports into the UK

In 2021, after two years of decline, there was growth in overseas purchases of tyres for motor cars, when their volume increased by 4.7% to X units. The total import volume increased at an average annual rate of +1.4% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 12% against the previous year. Over the period under review, imports reached the peak figure at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, passenger car tyre imports surged to $X in 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest passenger car tyre supplier to the UK, with a 43% share of total imports. Moreover, passenger car tyre imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), fourfold. South Korea (X units) ranked third in terms of total imports with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.6% per year) and South Korea (+3.8% per year).

In value terms, China ($X) constituted the largest supplier of tyres for motor cars to the UK, comprising 32% of total imports. The second position in the ranking was taken by Germany ($X), with a 15% share of total imports. It was followed by South Korea, with a 4.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-2.9% per year) and South Korea (+0.5% per year).

Import Prices by Country

The average passenger car tyre import price stood at $X per unit in 2021, with an increase of 16% against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable decrease. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Italy ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Serbia (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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