Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 330 Million

CAGR (2023-2028)

6.43%

Fastest Growing Segment

Passenger Cars

Largest Market

England


Market Overview

United Kingdom Advanced Tires Market has valued at USD 330 Million in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 6.43%. The United Kingdom's advanced tires market is currently experiencing significant growth, driven by continuous technology advancements in tire construction, materials, and design. These advancements include the incorporation of innovative materials and manufacturing techniques, resulting in tires that offer improved performance, durability, and fuel efficiency. Several factors contribute to the expansion of the market. Firstly, the increasing vehicle production and sales in the UK, coupled with a growing emphasis on vehicle safety, have created a strong demand for advanced tires. Consumers are becoming more aware of the importance of using high-quality tires that provide enhanced safety features and better handling capabilities. Additionally, stringent government regulations regarding tire performance have played a crucial role in driving the adoption of advanced tires. The UK government has implemented strict standards to ensure that tires meet specific criteria related to safety, efficiency, and environmental impact. This has prompted tire manufacturers to invest in research and development to meet these requirements and offer products that comply with the regulations. Furthermore, the rising popularity of electric, autonomous, and connected vehicles has further fueled the demand for advanced tires. These vehicles require tires that are specifically designed to optimize their unique performance characteristics. Advanced tires can enhance the range, efficiency, and overall performance of these vehicles, making them a crucial component in the rapidly evolving automotive industry. The market has also witnessed an influx of well-known international tire manufacturers, who recognize the potential for growth and profitability in the UK market. This influx of competition has stimulated innovation and product development, leading to a wider range of advanced tire options available to consumers. However, the UK's advanced tire market does face challenges. One of the primary challenges is the high production costs associated with developing and manufacturing advanced tires. The incorporation of advanced materials and technologies often requires substantial investment, which can impact the overall cost of production. Additionally, there are environmental concerns associated with the disposal and recycling of worn-out tires, as the improper handling of these tires can have detrimental effects on the environment. Despite these challenges, the outlook for the UK's advanced tire market remains positive. The increasing demand for high-performance tires, driven by various factors such as vehicle safety, government regulations, and evolving automotive technologies, indicates a promising future for the market. With continuous advancements in tire technology and a focus on sustainability, the UK's advanced tire market is poised for further growth and development.     

Key Market Drivers

Stringent Environmental Regulations and Sustainability Initiatives

The United Kingdom has been at the forefront of global efforts to combat climate change. Through its stringent environmental regulations and sustainability initiatives, the country has made a significant impact on the tire market. As a result, there is a growing demand for advanced tires that not only offer improved fuel efficiency and reduced rolling resistance but also prioritize eco-friendliness by lowering carbon emissions. In response to these regulatory requirements and consumer preferences, tire manufacturers are investing heavily in research and development, driving innovation in tire technology to meet the evolving needs of the market. This commitment to sustainability not only benefits the environment but also paves the way for a more sustainable future for the automotive industry as a whole.

Rising Concerns About Road Safety

Road safety is a top priority in the UK, and advanced tires play a crucial role in enhancing it. As consumers become more safety-conscious, there is a growing demand for tires with improved grip, shorter braking distances, and better handling, especially in adverse weather conditions. Advanced tire technologies, such as run-flat tires and enhanced tread designs, are becoming increasingly popular, driven by the need to reduce accidents and ensure safer driving experiences.

Expanding Premium and Luxury Vehicle Segment

The United Kingdom has a thriving market for premium and luxury vehicles, including brands like Rolls-Royce, Bentley, and Aston Martin. These high-end vehicles require top-of-the-line tires to deliver optimal performance. As the luxury car segment continues to expand, there is a corresponding demand for advanced tires that can meet the specific requirements of these vehicles. This trend has pushed tire manufacturers to develop high-performance, low-profile, and bespoke tire solutions tailored to luxury car brands.

Growing Adoption of Electric Vehicles (EVs)

The UK is witnessing a surge in the adoption of electric vehicles (EVs) as part of its commitment to reducing greenhouse gas emissions. Electric vehicles have distinct tire requirements, such as the need for tires with low rolling resistance to maximize range and efficiency. Consequently, the advanced tire market is experiencing increased demand for EV-specific tire models. Manufacturers are developing innovative tire technologies, including sound-reducing tires for quieter electric cars, to cater to this expanding market.

Advancements in Smart Tire Technology

Smart tire technology, which integrates sensors and connectivity features into tires, is gaining traction in the UK market. These sensors monitor tire pressure, temperature, tread wear, and even road conditions in real-time, providing valuable data for both vehicle owners and fleet managers. The potential for improved safety, maintenance cost savings, and enhanced driving experiences has driven the adoption of smart tires. As the UK continues to embrace IoT (Internet of Things) technology, smart tire solutions are expected to become a significant market driver.

E-commerce and Online Tire Sales

The UK's e-commerce sector has been rapidly growing, and the tire market is no exception. Consumers are increasingly turning to online platforms to research, compare, and purchase tires. The convenience of online shopping, along with competitive pricing and the ability to read user reviews, has made e-commerce a popular channel for tire sales. Tire retailers and manufacturers are investing in their online presence to cater to this trend, offering a wide range of tire options and ensuring a seamless purchasing experience.      


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Key Market Challenges

Environmental Regulations and Sustainability Compliance

While environmental regulations can also be seen as a driver for advanced tires, they present significant challenges to tire manufacturers. Stricter emission standards and sustainability goals in the UK necessitate the development of eco-friendly tires with reduced rolling resistance and lower carbon emissions. Meeting these standards requires substantial investments in research and development, which can strain the financial resources of tire companies. Additionally, ensuring the availability of sustainable materials for tire production is an ongoing challenge in the face of global supply chain disruptions.

Volatility in Raw Material Prices

The tire industry relies heavily on raw materials such as natural rubber, synthetic rubber, and various chemicals. Fluctuations in the prices of these commodities can have a profound impact on production costs and profitability. Global factors, including weather events affecting rubber plantations and geopolitical tensions impacting the supply of critical materials, contribute to price volatility. Managing these cost fluctuations while maintaining competitive pricing for advanced tires is a persistent challenge faced by manufacturers operating in the UK market.

Intense Market Competition

The United Kingdom's tire market is highly competitive, with numerous domestic and international manufacturers vying for market share. This intense competition places pressure on companies to continually innovate, not only in tire technology but also in marketing strategies and customer service. Meeting the demands of cost-conscious consumers while offering advanced tire solutions that stand out in a crowded marketplace is a significant challenge.

Technological Advancements and Rapid Obsolescence

The tire industry is evolving rapidly with continuous technological advancements. New tire technologies and materials emerge regularly, rendering existing products obsolete. Manufacturers must invest in research and development to stay ahead of the curve, but this comes with the challenge of predicting and adapting to consumer preferences and emerging trends. The risk of investing in technology that may become outdated before achieving a return on investment is a persistent concern.

Economic Uncertainty and Market Volatility

Economic factors, including recessions, currency fluctuations, and trade disruptions, can have a profound impact on the tire market. The UK's economic landscape is influenced by both domestic and international events, and economic uncertainty can lead to reduced consumer spending and fluctuations in vehicle sales. Manufacturers must navigate these uncertainties, adjusting production volumes and marketing strategies to maintain profitability and market stability.

Consumer Education and Awareness

While advanced tires offer numerous benefits, including improved safety, fuel efficiency, and performance, many consumers may not be fully aware of these advantages. Educating consumers about the benefits of advanced tire technologies and the importance of proper tire maintenance is an ongoing challenge. Tire manufacturers and retailers need to invest in marketing and educational campaigns to raise awareness and ensure that consumers make informed purchasing decisions. This challenge is exacerbated by the fact that consumers may perceive advanced tires as more expensive, requiring additional efforts to communicate their long-term cost savings.      

Key Market Trends

Emphasis on Sustainability and Eco-Friendly Tires

In recent years, sustainability has become a key focus in the United Kingdom's Advanced Tire Market. Consumers are increasingly conscious of their environmental impact, leading to a growing demand for eco-friendly tire options. Manufacturers are responding by developing tires with lower rolling resistance, improved fuel efficiency, and eco-conscious materials. These tires not only reduce carbon emissions but also align with the country's environmental goals, making sustainability a prominent trend in the market.

Expansion of All-Season Tires

The UK experiences a wide range of weather conditions throughout the year, from rainy winters to occasional snowfall. This variability has led to an increased preference for all-season tires. Motorists are drawn to the convenience of a single tire type that can perform well in various conditions. As a result, the market for all-season tires has seen steady growth, with manufacturers investing in the development of advanced all-season tire models to meet the diverse weather needs of consumers.

Rise in Electric and Hybrid Vehicle Adoption

The United Kingdom, like many other countries, is experiencing a significant surge in the adoption of electric and hybrid vehicles (EVs and HEVs). As the demand for these environmentally friendly vehicles continues to rise, the need for specialized tire requirements becomes paramount. One of the key considerations for EV and HEV owners is maximizing the range and efficiency of their vehicles, and this can be achieved through the use of low rolling resistance tires. These types of tires are specifically designed to reduce the energy required for propulsion, allowing electric and hybrid vehicles to travel further on a single charge.

To cater to this growing market, tire manufacturers are investing heavily in research and development to create advanced tires that are tailored to the unique needs of electric and hybrid vehicles. These specialized EV tires are engineered to deliver optimal performance, ensuring a smooth and efficient driving experience while maximizing the range capabilities of the vehicle. This trend of tire innovation for electric mobility is expected to continue as the popularity of electric and hybrid vehicles continues to gain traction worldwide.

With the ongoing advancements in electric vehicle technology and the increasing focus on sustainable transportation solutions, the tire industry plays a crucial role in supporting the transition towards a greener future. By developing specialized tires that meet the specific requirements of electric and hybrid vehicles, tire manufacturers are contributing to the overall efficiency and sustainability of the transportation sector. As electric mobility becomes more mainstream, the tire market will continue to evolve, providing consumers with a wider range of options to enhance the performance and efficiency of their electric and hybrid vehicles.

Digitalization and Smart Tire Technology

The UK is known for its technological advancements, and the tire market is no exception. Smart tire technology, which incorporates sensors to monitor tire pressure, temperature, tread wear, and road conditions in real-time, is gaining prominence. This technology enhances safety, provides valuable data for maintenance, and contributes to improved driving experiences. As the Internet of Things (IoT) continues to evolve, smart tire solutions are becoming increasingly sophisticated and sought-after in the market.

Customization and Bespoke Tire Solutions

A notable trend in the UK Advanced Tire Market is the growing demand for customized and bespoke tire options. Consumers, especially those with premium and luxury vehicles, seek tires tailored to their specific needs and vehicle models. Manufacturers are responding by offering customization options, including unique tread patterns, sizes, and compounds. This trend caters to the discerning preferences of consumers and underscores the desire for personalized products and experiences.

E-commerce and Online Tire Sales

E-commerce has revolutionized the way consumers research and purchase tires in the UK. The convenience of online shopping, combined with competitive pricing and the ability to access user reviews, has made e-commerce a dominant channel for tire sales. Both tire retailers and manufacturers are investing in their online presence, offering a wide range of tire options and ensuring a seamless purchasing experience. This trend is expected to continue as digitalization becomes increasingly integral to consumer behavior.

Segmental Insights

Vehicle Type Insights

The advanced tires market in the United Kingdom is currently experiencing a remarkable surge in demand across various vehicle types. Notably, the passenger car segment is witnessing significant growth, driven by the increasing consumer awareness regarding the safety and high-performance features offered by advanced tires. With advancements in tire technology, such as improved grip and enhanced braking capabilities, drivers are now able to navigate the roads with greater confidence and peace of mind.

Moreover, the commercial vehicle segment is displaying promising expansion as fleet owners recognize the value of fuel efficiency and seek longer-lasting tire options. By investing in advanced tires, businesses can not only reduce their operational costs but also contribute to a more sustainable future. These tires are designed to withstand the demanding requirements of commercial vehicles, ensuring optimal performance and longevity even under heavy loads and challenging conditions.

Furthermore, the off-the-road (OTR) vehicle segment is also gaining attention, with advanced tires proving to be invaluable in providing superior traction and durability, especially in challenging terrains. Whether it's construction sites, mining operations, or agricultural fields, these tires are engineered to withstand the harshest environments and deliver exceptional performance. This growing trend highlights the increasing importance of advanced tires in enhancing vehicle performance and safety across diverse sectors of the UK market.   

Tire Type Insights  

In the United Kingdom, the advanced Tires market is experiencing significant growth. This growth is driven by various factors, including the country's temperate maritime climate, which makes summer Tires the dominant choice due to their optimal performance in warm weather conditions. However, with the increasing concern for safety in icy or snowy conditions, winter Tires are gaining traction. These Tires are equipped with improved safety features that provide better grip and control on slippery surfaces.

Additionally, the all-season Tires segment is emerging as a promising option for consumers. These Tires offer a balanced performance in various weather conditions, providing versatility and cost-effectiveness. With consumers seeking Tires that can adapt to changing weather patterns and offer good performance year-round, the demand for all-season Tires is on the rise.

Overall, the advanced Tires market in the United Kingdom is witnessing a dynamic landscape, driven by the specific needs and preferences of consumers in different weather conditions. As technology continues to advance, tyre manufacturers are continuously innovating to meet the demands of the market and provide enhanced safety, performance, and convenience to drivers across the country.


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Regional Insights

The advanced tires market in the United Kingdom has exhibited steady growth over recent years. This growth has been driven by the increasing demand for high-performance vehicles, including sports cars and luxury vehicles, as well as the rise in vehicle production to meet the growing transportation needs. Additionally, the stringent vehicle emission regulations enforced by the UK government have played a significant role in promoting the use of advanced tires, which are designed to enhance fuel efficiency and reduce carbon emissions.

Moreover, the UK government's focus on promoting electric and autonomous vehicles has further stimulated the adoption of advanced tire technologies. With the increasing shift towards electric and autonomous vehicles, there is a growing need for tires that can provide optimal performance and safety in these emerging technologies. Advanced tire technologies, such as low rolling resistance and intelligent tire monitoring systems, are becoming increasingly important in ensuring the efficiency and reliability of electric and autonomous vehicles.

Despite challenges posed by Brexit uncertainties and the pandemic-induced economic slowdown, the market outlook for advanced tires in the United Kingdom remains promising. The resilience of the automobile industry, coupled with continuous innovation in tire technology, has contributed to the positive growth trajectory. Manufacturers are investing in research and development to create advanced tire solutions that can meet the evolving demands of the market. Furthermore, collaborations between tire manufacturers and vehicle manufacturers are driving the development of customized tire solutions tailored to the specific requirements of electric and autonomous vehicles.

In conclusion, the advanced tires market in the United Kingdom is witnessing steady growth due to various factors, including the increasing demand for high-performance vehicles, vehicle production, stringent emission regulations, and the government's focus on electric and autonomous vehicles. Despite challenges, the market remains promising, supported by the resilience of the automobile industry and ongoing innovation in tire technology.

Recent Developments

  • Infineon Technologies AG combines its proven automotive expertise with its patented glass- Silicon-glass MEMS sensor for the automotive tire pressure monitoring system (TPMS) market to launch the XENSIV™ SP49 tire pressure monitoring sensor. The Sensor integrates MEMS sensors and ASIC and provides smart tire features that Enable advanced tire pressure monitoring systems.
  • In 2022, Maxam has partnered with Case Construction to supply OTR tires.

Key Market Players

  • Bridgestone Corporation
  • Continental AG
  • Goodyear Tire & Rubber Company
  • Sumitomo Rubber Industries Ltd
  • Michelin Group
  • Pirelli & C. S.p.A.
  • Yokohama Rubber Company Limited
  • Kumho Tire Co. Inc.

By Vehicle Type

By Tire Type

By Technology

By Material Type

By Region

  • On-Highway Vehicle
  • Off-Highway Vehicle
  • Run-Flat
  • Airless
  • Pneumatic
  • On-Highway Vehicle Technology
  • Off-Highway Vehicle Technology
  • Natural Rubber
  • Synthetic Rubber
  • Steel
  • Elastomers
  • Others
  • England
  • Scotland
  • Wales
  • Northern Ireland

 

 

Report Scope:

In this report, the United Kingdom Advanced Tires Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • United Kingdom Advanced Tires Market, By Vehicle Type:

o   On-Highway Vehicle

o   Off-Highway Vehicle

  • United Kingdom Advanced Tires Market, By Tire Type:  

o   Run-Flat

o   Airless

o   Pneumatic

  • United Kingdom Advanced Tires Market, By Technology: 

o   On-Highway Vehicle Technology

o   Off-Highway Vehicle Technology

  • United Kingdom Advanced Tires Market, By Material Type: 

o   Natural Rubber

o   Synthetic Rubber

o   Steel

o   Elastomers

o   Others

  • United Kingdom Advanced Tires Market, By Region:   

o   England

o   Scotland

o   Wales

o   Northern Ireland

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the United Kingdom Advanced Tires Market.

Available Customizations:

United Kingdom Advanced Tires Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

United Kingdom Advanced Tires Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]   

Table of content

1.    Introduction

1.1.  Product Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary      

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Impact of COVID-19 on United Kingdom Advanced Tires Market Outlook

5.    Voice of Customer

5.1.  Factors Influencing Purchase Decision

5.2.  Brand Awareness

5.3.  Brand Satisfaction Level

6.    United Kingdom Advanced Tires Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value & Volume

6.2.  Market Share & Forecast

6.2.1.    By Vehicle Type Market Share Analysis (On-Highway Vehicle and Off-Highway Vehicle)

6.2.2.    By Technology Market Share Analysis (On-Highway Vehicle Technology and Off-Highway Vehicle Technology)

6.2.3.    By Tire Type Market Share Analysis (Run-Flat, Airless and Pneumatic)

6.2.4.    By Material Type Market Share Analysis (Natural Rubber, Synthetic Rubber, Steel, Elastomers and Others)  

6.2.5.    By Regional Market Share Analysis

6.2.5.1.        England Market Share Analysis

6.2.5.2.        Scotland Market Share Analysis

6.2.5.3.        Wales Market Share Analysis

6.2.5.4.        Northern Ireland Market Share Analysis

6.2.6.    By Company Market Share Analysis (Top 5 Companies, Others – By Value, 2022)

6.3.  United Kingdom Advanced Tires Market Mapping & Opportunity Assessment

6.3.1.    By Vehicle Type Market Mapping & Opportunity Assessment

6.3.2.    By Technology Market Mapping & Opportunity Assessment

6.3.3.    By Tire Type Market Mapping & Opportunity Assessment

6.3.4.    By Material Type Market Mapping & Opportunity Assessment

6.3.5.    By Regional Market Mapping & Opportunity Assessment

7.    UAE On-Highway Vehicle Advanced Tire Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value & Volume

7.2.  Market Share & Forecast

7.2.1.    By Vehicle Type Market Share Analysis

7.2.2.    By Technology Market Share Analysis

7.2.3.    By Tire Type Market Share Analysis

7.2.4.    By Material Type Market Share Analysis

8.    UAE Off-Highway Vehicle Advanced Tire Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value & Volume

8.2.  Market Share & Forecast

8.2.1.    By Vehicle Type Market Share Analysis

8.2.2.    By Technology Market Share Analysis

8.2.3.    By Tire Type Market Share Analysis

8.2.4.    By Material Type Market Share Analysis

9.    Market Dynamics

9.1.  Market Drivers

9.2.  Market Challenges

10. Market Trends & Developments

11. SWOT Analysis

11.1.               Strength

11.2.               Weakness

11.3.               Opportunities

11.4.               Threats

12. Porter’s Five Forces Model

12.1.               Competitive Rivalry

12.2.               Bargaining Powers of Suppliers

12.3.               Bargaining Powers of Buyers

12.4.               Threat of New Entrants

12.5.               Threat of Substitutes

13. Policy & Regulatory Landscape

14. UAE Economic Profiles

15. Competitive Landscape

15.1.               Company Profiles (Up to 10 Major Companies)

15.1.1. Bridgestone Corporation

15.1.1.1.     Company Details

15.1.1.2.     Key Products Offered

15.1.1.3.     Recent Development

15.1.1.4.     Key Management Personnel

15.1.2. Continental AG

15.1.2.1.     Company Details

15.1.2.2.     Key Products Offered

15.1.2.3.     Recent Development

15.1.2.4.     Key Management Personnel

15.1.3. Goodyear Tire & Rubber Company

15.1.3.1.     Company Details

15.1.3.2.     Key Products Offered

15.1.3.3.     Recent Development

15.1.3.4.     Key Management Personnel

15.1.4. Sumitomo Rubber Industries Ltd

15.1.4.1.     Company Details

15.1.4.2.     Key Products Offered

15.1.4.3.     Recent Development

15.1.4.4.     Key Management Personnel

15.1.5. Michelin Group

15.1.5.1.     Company Details

15.1.5.2.     Key Products Offered

15.1.5.3.     Recent Development

15.1.5.4.     Key Management Personnel

15.1.6. Pirelli & C. S.p.A.

15.1.6.1.     Company Details

15.1.6.2.     Key Products Offered

15.1.6.3.     Recent Development

15.1.6.4.     Key Management Personnel

15.1.7. Yokohama Rubber Company Limited

15.1.7.1.     Company Details

15.1.7.2.     Key Products Offered

15.1.7.3.     Recent Development

15.1.7.4.     Key Management Personnel

15.1.8. Kumho Tire Co. Inc.

15.1.8.1.     Company Details

15.1.8.2.     Key Products Offered

15.1.8.3.     Recent Development

15.1.8.4.     Key Management Personnel

16. Strategic Recommendations

16.1.               Key Focus Areas

16.1.1. Target Regions

16.1.2. Target Vehicle Type

16.1.3. Target Demand Category

17. About Us & Disclaimer  

Figures and Tables

Frequently asked questions

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The market size of the United Kingdom Advanced Tires Market was estimated to be USD 330 Million in 2022.

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In 2022, the dominant segment by vehicle type in the United Kingdom Advanced Tires Market was passenger vehicles. The rise in demand for passenger vehicles, coupled with the growing consumer awareness about the benefits of advanced tires, such as enhanced safety and fuel efficiency, contributed to this segment's dominance.

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In the United Kingdom's Advanced Tires Market, England emerges as the dominant region. It's the largest and most populous of the four regions, with a higher demand for modern and advanced vehicles. Therefore, the demand for advanced tires is significantly higher, making England the leading player in this market.

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The major drivers for the United Kingdom Advanced Tires Market include a focus on enhanced road safety, a growing awareness of environmental sustainability, and the increasing adoption of high-performance and electric vehicles, all of which drive demand for advanced tire technologies.

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Srishti Verma

Business Consultant
Press Release

Advanced Tire Market to Grow with a CAGR of 6.43% in United Kingdom through to 2028

Nov, 2023

The major drivers for the United Kingdom Advanced Tires Market include a focus on enhanced road safety, a growing awareness of environmental sustainability, and the increasing adoption of high-perfor