United Kingdom: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in the UK

The UK truck and bus tyre market expanded significantly to $X in 2022, surging by 6.2% against the previous year. Over the period under review, consumption, however, continues to indicate a abrupt slump. Truck and bus tyre consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Production of Tyres For Buses Or Lorries in the UK

In value terms, truck and bus tyre production expanded significantly to $X in 2022 estimated in export price. In general, production, however, recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 81%. Truck and bus tyre production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Exports of Tyres For Buses Or Lorries

Exports from the UK

In 2022, shipments abroad of tyres for buses or lorries increased by 0.9% to X units, rising for the second consecutive year after two years of decline. In general, exports, however, faced a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 when exports increased by 9.6%. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, truck and bus tyre exports expanded remarkably to $X in 2022. Over the period under review, exports, however, saw a abrupt downturn. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units), Germany (X units) and Italy (X units) were the main destinations of truck and bus tyre exports from the UK, together accounting for 44% of total exports. The Netherlands, China, Ireland, Switzerland, France, Belgium, Canada, Spain, Slovakia and Turkey lagged somewhat behind, together comprising a further 41%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Switzerland (with a CAGR of +54.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for truck and bus tyre exported from the UK were the United States ($X), Germany ($X) and Ireland ($X), with a combined 40% share of total exports. Italy, the Netherlands, China, France, Switzerland, Belgium, Canada, Spain, Slovakia and Turkey lagged somewhat behind, together comprising a further 43%.

Among the main countries of destination, Switzerland, with a CAGR of +61.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average truck and bus tyre export price amounted to $X per unit, growing by 7.5% against the previous year. Overall, the export price, however, saw a pronounced descent. The most prominent rate of growth was recorded in 2020 when the average export price increased by 20%. Over the period under review, the average export prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Ireland ($X per unit), while the average price for exports to Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tyres For Buses Or Lorries

Imports into the UK

In 2022, truck and bus tyre imports into the UK dropped to X units, reducing by -5.4% against the previous year. The total import volume increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 35% against the previous year. As a result, imports reached the peak of X units, and then shrank in the following year.

In value terms, truck and bus tyre imports shrank slightly to $X in 2022. In general, total imports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +50.5% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 50%. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

Thailand (X units), Slovakia (X units) and France (X units) were the main suppliers of truck and bus tyre imports to the UK, together accounting for 30% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +48.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest truck and bus tyre suppliers to the UK were Thailand ($X), Poland ($X) and Slovakia ($X), together accounting for 27% of total imports.

Among the main suppliers, Thailand, with a CAGR of +36.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average truck and bus tyre import price amounted to $X per unit, rising by 5.7% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 12%. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for Serbia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+8.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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