Croatia: 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 Croatia

The Croatian market for tyres for agriculture, forestry, construction, industry and other off the road vehicles reduced sharply to $X in 2022, waning by -18.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +16.2% against 2020 indices. As a result, consumption attained the peak level of $X, and then contracted rapidly in the following year.

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

Exports from Croatia

In 2022, after four years of growth, there was significant decline in overseas shipments of tyres for agriculture, forestry, construction, industry and other off the road vehicles, when their volume decreased by -17.7% to X units. In general, exports, however, continue to indicate a perceptible expansion. The pace of growth was the most pronounced in 2019 when exports increased by 33% against the previous year. The exports peaked at X units in 2021, and then fell remarkably in the following year.

In value terms, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles declined to $X in 2022. Over the period under review, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 114% against the previous year. Over the period under review, the exports of tyres for agriculture, forestry, construction, industry and other off road vehicles attained the peak figure at $X in 2021, and then fell in the following year.

Exports by Country

Slovenia (X units), Germany (X units) and Bosnia and Herzegovina (X units) were the main destinations of exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Croatia, together comprising 58% of total exports. Italy, Serbia, Ukraine, Hungary and Romania lagged somewhat behind, together comprising a further 37%.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +71.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Slovenia ($X) remains the key foreign market for tyres for agriculture, forestry, construction, industry and other off the road vehicles exports from Croatia, comprising 49% of total exports. The second position in the ranking was held by Serbia ($X), with a 22% share of total exports. It was followed by Bosnia and Herzegovina, with an 18% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Slovenia amounted to +68.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (+22.6% per year) and Bosnia and Herzegovina (+16.1% per year).

Export Prices by Country

In 2022, the average export price for tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X per unit, rising by 12% against the previous year. Over the period under review, the export price enjoyed significant growth. The pace of growth was the most pronounced in 2014 an increase of 170%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

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 Serbia ($X per unit), while the average price for exports to Hungary ($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 Romania (+50.7%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Croatia

In 2022, the amount of tyres for agriculture, forestry, construction, industry and other off the road vehicles imported into Croatia plummeted to X units, waning by -38.7% against the previous year. Overall, total imports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +2.9% 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 2014 with an increase of 52% against the previous year. Over the period under review, imports of tyres for agriculture, forestry, construction, industry and other off road vehicles hit record highs at X units in 2021, and then reduced dramatically in the following year.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles dropped slightly to $X in 2022. In general, imports, however, posted a buoyant expansion. The growth pace was the most rapid in 2021 when imports increased by 38%. As a result, imports reached the peak of $X, and then reduced in the following year.

Imports by Country

In 2022, China (X units) constituted the largest agricultural, construction and industrial machinery tyre supplier to Croatia, with a 60% share of total imports. Moreover, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from China exceeded the figures recorded by the second-largest supplier, Indonesia (X units), sevenfold. The third position in this ranking was held by Slovenia (X units), with a 6.3% share.

From 2012 to 2022, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+48.6% per year) and Slovenia (+9.6% per year).

In value terms, Slovenia ($X), India ($X) and Slovakia ($X) appeared to be the largest agricultural, construction and industrial machinery tyre suppliers to Croatia, with a combined 42% share of total imports.

Among the main suppliers, Slovenia, with a CAGR of +34.6%, saw the highest rates of growth with regard to 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

The average import price for tyres for agriculture, forestry, construction, industry and other off the road vehicles stood at $X per unit in 2022, jumping by 61% against the previous year. Overall, the import price showed resilient growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Slovakia ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+29.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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