Tyre Manufacturing in the UK - Market Research Report (2014-2029)
London, United Kingdom
Last Updated: September 2024
SIC C22.110Revenue
£1.4bn
Past 5-Year Growth
Profit
£XX.Xm
Employees
4,465
Businesses
27
Wages
£XXX.Xm
Tyre Manufacturing in the UK industry analysis
The Tyre Manufacturing industry is in decline; revenue is set to drop at a compound annual rate of 4.3% over the five years through 2024-25 to £1.4 billion. Solid import competition, reduced export sales and a drop in manufacturing capacity have all taken sales away from UK manufacturers. Although there's been a slight uptick in the number of UK-registered motor vehicles recently, tyre manufacturers continue to struggle to grow their revenue. The challenging industry landscape has led many small, independent manufacturers to step back because they couldn't keep up with the big players. This trend is steering the industry towards more consolidation as companies come together to stay strong in a tough market.
Trends and Insights
- EV tyre demand is surging with rising electric car sales. As more folks switch to EVs, tyre makers are getting creative, producing tyres that boost battery life and quietness, perfectly complementing the silent ride experience of electric vehicles.
- Car registrations are up, showing recovery signs but not fully there. This uptick, largely due to fleet investments, points towards a gradual recovery within the industry. Challenges persist as markets aim for full rebound.
- Low land prices entice tyre makers to the South West. The region's economical industrial spaces and established infrastructure support cost-effective manufacturing and distribution.
- Smaller tyre manufacturers struggle to break through. The three largest UK manufacturers dominate, holding over two-thirds of the market, with their well-known brands and strong reputations making it hard for smaller companies to compete.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 4.3 % over the past five years, to reach an estimated £1.4bn in 2024.
Trends and Insights
The COVID-19 pandemic punctures tyre sales
- The COVID-19 pandemic brought car manufacturing to a standstill at the start of 2020-21, with factory closures and global supply disruption decimating output. This drove a 12.4% contraction in tyre manufacturing revenue in 2020-21.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to decline over the next five years.
Trends and Insights
Mounting rubber prices and growing vehicle production drive up revenue
- Rubber prices are expected to climb globally, prompting tyre manufacturers to increase their prices to offset the higher costs and mitigate revenue declines. This adjustment is anticipated to help stabilise the market following recent challenges.
Biggest companies in the Tyre Manufacturing in the UK
| Company | Market Share (%)
2025 | Revenue (£m)
2025 |
|---|---|---|
Michelin Tyre plc | 509.8 | |
Pirelli UK Tyres Ltd | 407.7 | |
Cooper Tire & Rubber Co Europe Ltd | 92.2 |
To view the market share and analysis for all 4 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Rubber tyres for light vehicles, Rubber tyres for commercial vehicles and Retreaded tyres. Rubber tyres for light vehicles is the largest segment of the Tyre Manufacturing in the UK.
Trends and Insights
Recovery in vehicle production supports sales of rubber tyres for light vehicles tyres
- Tyre manufacturers produce a wide array of tyres for cars, sport utility vehicles and light trucks.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- There are no industries to display.
Complementors
- Motor Vehicle Manufacturing in the UK
- Motor Vehicle Parts & Accessories Manufacturing in the UK
- Motor Vehicle Maintenance & Repair in the UK
International industries
- Tire Manufacturing in the US
- Tire Manufacturing in Canada
- Tire Manufacturing in China
Table of Contents
About this industry
Industry definition
Companies in this industry manufacture rubber tyres for vehicles, equipment, mobile machinery and aircraft, among other uses. Manufacturers also produce inner tubes for tyres. The rebuilding and retreading of tyres is also included in the industry.
What's included in this industry?
Rubber tyres for light vehiclesRubber tyres for commercial vehiclesRetreaded tyresAircraft tyresSolid tyresInner tubesCompanies
Michelin Tyre plcPirelli UK Tyres LtdCooper Tire & Rubber Co Europe LtdPurchase this report to view all 4 major companies in this industry.
Related Terms
PNEUMATIC TYRERETREADED TYRENON-PNEUMATIC TYREIndustry Code
SIC 22.11 - Tyre Manufacturing in the UK
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
EV tyre demand is surging with rising electric car sales. As more folks switch to EVs, tyre makers are getting creative, producing tyres that boost battery life and quietness...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Car registrations are up, showing recovery signs but not fully there. This uptick, largely due to fleet investments, points towards a gradual recovery within the industry. Ch...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Low land prices entice tyre makers to the South West. The region's economical industrial spaces and established infrastructure support cost-effective manufacturing and distri...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each region in 2024
- Number and share of revenue each region accounts for in 2024
- Number and share of wages each region accounts for in 2024
- Number and share of employees in each region in 2024
Detailed analysis
- Geographic spread of the industry across Europe, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Smaller tyre manufacturers struggle to break through. The three largest UK manufacturers dominate, holding over two-thirds of the market, with their well-known brands and str...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Michelin dominates with strategic acquisitions. It’s strengthened its market position by taking over other tyre manufacturers, like Fenner and Camso, boosting its global pres...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Michelin Tyre plc's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Pirelli UK Tyres Ltd's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Cooper Tire & Rubber Co Europe Ltd's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for one additional company
Detailed analysis
- Description and key data for Michelin Tyre plc, and factors influencing its performance in the industry
- Description and key data for Pirelli UK Tyres Ltd, and factors influencing its performance in the industry
- Description and key data for Cooper Tire & Rubber Co Europe Ltd, and factors influencing its performance in the industry
- Description, key data and performance trends for one additional company
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Regulations focus on controlling emissions. Tyre manufacturers have to implement industrial furnace controls and adhere to the UK’s carbon market limits.
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Rising costs challenge profitability in the rubber industry. Companies are feeling the squeeze from higher rubber prices and inflation, which dampens profits despite growing ...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Liquidity Ratios (2018-2022)
- Coverage Ratios (2018-2022)
- Leverage Ratios (2018-2022)
- Operating Ratios (2018-2022)
- Assets (2018-2022)
- Liabilities (2018-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the UK include:
- Office for National Statistics
- Office for Budget Responsibility
- Bank of England
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Tyre Manufacturing in the UK industry in United Kingdom in 2024?
The market size of the Tyre Manufacturing in the UK industry in United Kingdom is £1.4bn in 2024.
How many businesses are there in the Tyre Manufacturing in the UK industry in 2024?
There are 27 businesses in the Tyre Manufacturing in the UK industry in United Kingdom, which has declined at a CAGR of 2.7 % between 2019 and 2024.
Has the Tyre Manufacturing in the UK industry in United Kingdom grown or declined over the past 5 years?
The market size of the Tyre Manufacturing in the UK industry in United Kingdom has been declining at a CAGR of 4.3 % between 2019 and 2024.
What is the forecast growth of the Tyre Manufacturing in the UK industry in United Kingdom over the next 5 years?
Over the next five years, the Tyre Manufacturing in the UK industry in United Kingdom is expected to decline.
What are the biggest companies in the Tyre Manufacturing in the UK market in United Kingdom?
The biggest companies operating in the Tyre Manufacturing market in United Kingdom are Michelin Tyre plc, Pirelli UK Tyres Ltd and Cooper Tire & Rubber Co Europe Ltd
What does the Tyre Manufacturing in the UK in United Kingdom include?
Rubber tyres for light vehicles and Rubber tyres for commercial vehicles are part of the Tyre Manufacturing in the UK industry.
Which companies have the highest market share in the Tyre Manufacturing in the UK in United Kingdom?
The company holding the most market share in United Kingdom is Michelin Tyre plc.
How competitive is the Tyre Manufacturing in the UK industry in United Kingdom?
The level of competition is moderate and increasing in the Tyre Manufacturing in the UK industry in United Kingdom.
