London – A study of the UK tire market, published by Bharat Books on 21 Nov, suggests that by 2019 growth is expected in tire demand as the automotive industry is growing in the country.
“Besides increasing passenger car sales, growing online sales of replacement tires and rising demand for retreaded tires, especially in commercial vehicles, is expected to propel tire market in the UK over the next five years,” said an overview of the study.
On the growth in both tire and automotive sectors, the summary refers to plants and production facilities set up by leading automotive OEMs, such as Nissan, Honda in the UK.
The report goes on to suggest that the UK tire market is currently estimated at around $5 billion (€4 billion).
According to the study, the market is dominated by the passenger car tire segment, which accounts for more than 80 percent of the total tire demand in the country, followed by commercial vehicle, two-wheeler and off the road (OTR) tire segments.