It is believed the fire broke out in an industrial shedat Chapel Hill, at around 3.30pm on Thursday.
The shed contained vehicles including a digger, forklift and lorry.
The Department of Environment said Minister Alex Attwood has been kept fully informed of the blaze.
A department spokesman added: "NI Environment Agency have been on site and is co-ordinating with the Fire Service, in order to reduce the risk of pollution, which is considered to be minimal.
"It is believed around 1000 tyres were on site, which has been subject to robust enforcement in recent times."
SDLP Councillor Sean O'Hare praised the emergency services for their swift response to the blaze.
"I would like to thank the PSNI and fire fighters for attending the scene with great haste and bringing the fire under control. Their swift action prevented the fire from spreading," he said.
Road diversions remained in place for several hours.