Benelux: Market for Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles 2024

Market Size for Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles in Benelux

The Benelux market for tyres for agriculture, forestry, construction, industry and other off the road vehicles shrank dramatically to $X in 2022, falling by -23.3% against the previous year. In general, consumption, however, enjoyed a measured expansion. Over the period under review, the market attained the peak level at $X in 2021, and then declined sharply in the following year.

Production of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles in Benelux

In value terms, production of tyres for agriculture, forestry, construction, industry and other off the road vehicles dropped to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a remarkable increase. The most prominent rate of growth was recorded in 2018 with an increase of 972%. Over the period under review, production of tyres for agriculture, forestry, construction, industry and other off road vehicles attained the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles

Exports in Benelux

In 2022, overseas shipments of tyres for agriculture, forestry, construction, industry and other off the road vehicles increased by 7.2% to X units, rising for the seventh year in a row after two years of decline. In general, exports saw buoyant growth. The most prominent rate of growth was recorded in 2018 when exports increased by 43%. Over the period under review, the exports of tyres for agriculture, forestry, construction, industry and other off road vehicles reached the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X in 2022. Total exports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +34.8% against 2018 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 28%. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Exports by Country

In 2022, the Netherlands (X units) was the largest exporter of tyres for agriculture, forestry, construction, industry and other off the road vehicles, committing 88% of total exports. It was distantly followed by Belgium (X units), comprising an 11% share of total exports.

The Netherlands was also the fastest-growing in terms of the tyres for agriculture, forestry, construction, industry and other off the road vehicles exports, with a CAGR of +14.8% from 2012 to 2022. Belgium (-3.4%) illustrated a downward trend over the same period. The Netherlands (+31 p.p.) significantly strengthened its position in terms of the total exports, while Belgium saw its share reduced by -29.7% from 2012 to 2022, respectively.

In value terms, the Netherlands ($X) remains the largest agricultural, construction and industrial machinery tyre supplier in Benelux, comprising 55% of total exports. The second position in the ranking was taken by Belgium ($X), with a 21% share of total exports.

In the Netherlands, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles expanded at an average annual rate of +6.0% over the period from 2012-2022.

Export Prices by Country

The export price in Benelux stood at $X per unit in 2022, rising by 4% against the previous year. In general, the export price, however, recorded a drastic downturn. The pace of growth appeared the most rapid in 2021 when the export price increased by 12%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per unit), while the Netherlands totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+1.8%).

Imports of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles

Imports in Benelux

After six years of growth, purchases abroad of tyres for agriculture, forestry, construction, industry and other off the road vehicles decreased by -26.4% to X units in 2022. Total imports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 26% against the previous year. The volume of import peaked at X units in 2021, and then fell dramatically in the following year.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles shrank to $X in 2022. Total imports indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.7% 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 +30.4% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 43% against the previous year. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

The Netherlands represented the largest importer of tyres for agriculture, forestry, construction, industry and other off the road vehicles in Benelux, with the volume of imports resulting at X units, which was near 76% of total imports in 2022. It was distantly followed by Belgium (X units), mixing up a 24% share of total imports.

The Netherlands was also the fastest-growing in terms of the tyres for agriculture, forestry, construction, industry and other off the road vehicles imports, with a CAGR of +4.6% from 2012 to 2022. Belgium (-3.3%) illustrated a downward trend over the same period. The Netherlands (+17 p.p.) significantly strengthened its position in terms of the total imports, while Belgium saw its share reduced by -16.8% from 2012 to 2022, respectively.

In value terms, the largest agricultural, construction and industrial machinery tyre importing markets in Benelux were the Netherlands ($X) and Belgium ($X).

The Netherlands, with a CAGR of +3.3%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review.

Import Prices by Country

The import price in Benelux stood at $X per unit in 2022, with an increase of 20% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 25%. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Belgium ($X per unit), while the Netherlands stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+3.0%).

Source: IndexBox Platform