Overview of the Market for Truck and Bus Tire in the United Kingdom
In value terms, truck and bus tire production plummeted to $ in 2019 estimated in export prices. In general, production, however, saw a perceptible contraction. The pace of growth appeared the most rapid in 2018 when the production volume increased by % y-o-y. Over the period under review, production reached the maximum level at $ in 2013; however, from 2014 to 2019, production stood at a somewhat lower figure.
The size of the truck and bus tire market in the UK reduced to $ in 2019, which is down by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% from 2007 to 2019; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2008 with an increase of % against the previous year. Over the period under review, the market reached the maximum level at $ in 2014; however, from 2015 to 2019, consumption stood at a somewhat lower figure.