The UK rubber tyres and tubes market experienced fluctuations from 2013 to 2023. Starting at 2.28 billion Euros in 2013, the market saw gradual growth until 2015, reaching 2.38 billion Euros. However, from 2016 onwards, there was a notable decline. By 2023, the turnover stood at 1.53 billion Euros, reflecting a year-on-year decrease of 2.85% and a five-year CAGR of -1.91%.
Forecasts indicate a continued downward trend, with a five-year forecasted CAGR of -2.63%, leading to an estimated turnover of 1.29 billion Euros by 2028.
Future trends to watch for:
- Technological advancements in tyre materials and manufacturing processes.
- Changes in automotive industry dynamics, especially the shift towards electric vehicles.
- Potential economic impacts and regulatory changes affecting the automotive sector.
