The sold production of rubber tyres and tubes in the UK has exhibited fluctuating trends between 2013 and 2023. The series, measured in million Euros, reached 542.52 in 2023 from a high of 724.63 in 2015. Analysis of recent years shows a -2.61% year-on-year decrease in 2023. The Compound Annual Growth Rate (CAGR) over the last five years indicates a -3.53% average annual decline. These figures underline a persistent downturn since 2015, barring minor recoveries in specific years such as 2021.
Future trends to watch for include:
- Anticipated continuous decline with a -2.39% forecasted five-year CAGR toward 2028.
- Potential impact of technological advancements in tyre manufacturing on production costs and volumes.
- Shift in consumer behaviour towards alternative transportation affecting tyre demand.
- Regulatory changes regarding sustainable materials and production practices.