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Vehicle Security Market Report 2010
Key Note Publications Ltd, June 2010
In 2009, the UK vehicle security market was worth an estimated £191.5m at manufacturers' selling prices (msp) and £210m at end-user prices (allowing for distributors' margins on those products that are sold in the aftermarket). Most of the demand for vehicle security products comes from the new-vehicle sector, rather than the aftermarket, and the substantial fall in UK vehicle production in 2009 is believed to have had a significant impact on sales.
The market for vehicle security products includes: locks; other mechanical devices (such as mechanical immobilisers, clamps and motorcycle anchors) and security marking; tracking systems; and other electronic devices, including immobilisers, alarms and combined alarm/immobilisers, and newer products to combat key theft and hijacking.
2009 was one of the most difficult years ever for the UK motor industry. Production of new cars in the UK declined by 31.2%, to fewer than a million (the lowest figure since the 1980s) and new car registrations fell to their lowest total since 1995. Production of commercial vehicles fell by 55.3% — also the lowest total for many decades. These severe falls in vehicle production and sales had a serious impact on the vehicle security market. For example, the value of imports of vehicle locks into the UK fell by 43.9% in 2009. The UK market for motor-vehicle locks is dominated by imports.
The number of recorded motor-vehicle thefts in England and Wales has been falling on an annual basis for many years, and in 2008/2009 there were 592,100 incidents, compared with 820,100 in 2004/2005. Contributing to the decline has been the steady increase in the proportion of passenger cars that are fitted with security devices. According to the British Crime Survey, the proportion of `main' household cars fitted with an immobiliser more than tripled (from 23% to 80%) between 1991 and 2008/2009, while the proportion with central locking more than doubled (from 35% to 91%).
Following the sharp contraction in the value of the vehicle security market in 2009, the sector is projected to experience some improvement in 2010, as vehicle production in the UK starts to recover. An improving economy should also help the aftermarket for these products. Thereafter, and up to 2014, the market is projected to demonstrate further growth, although much will continue to depend on the strength of UK vehicle production and demand for new cars over the period.
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