Denmark: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in Denmark

The Danish truck and bus tyre market expanded rapidly to $X in 2022, increasing by 10% against the previous year. The market value increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Truck and bus tyre consumption peaked in 2022 and is likely to see gradual growth in years to come.

Production of Tyres For Buses Or Lorries in Denmark

In value terms, truck and bus tyre production reduced sharply to $X in 2022 estimated in export price. Overall, production faced a sharp curtailment. The most prominent rate of growth was recorded in 2019 when the production volume increased by 7.6%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Tyres For Buses Or Lorries

Exports from Denmark

Truck and bus tyre exports from Denmark surged to X units in 2022, jumping by 23% against 2021 figures. Over the period under review, exports recorded resilient growth. The pace of growth was the most pronounced in 2018 when exports increased by 80% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, truck and bus tyre exports soared to $X in 2022. In general, exports, however, showed a mild reduction. The most prominent rate of growth was recorded in 2021 when exports increased by 111% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X units), the Netherlands (X units) and Slovenia (X units) were the main destinations of truck and bus tyre exports from Denmark, with a combined 50% share of total exports. Poland, Sweden, Hungary, Austria, France, Norway, Finland, Iceland, Romania and Italy lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hungary (with a CAGR of +217.1%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Germany ($X) and Slovenia ($X) appeared to be the largest markets for truck and bus tyre exported from Denmark worldwide, with a combined 68% share of total exports. Sweden, Poland, Romania, Hungary, France, Finland, Austria, Norway, Iceland and Italy lagged somewhat behind, together accounting for a further 24%.

Among the main countries of destination, Hungary, with a CAGR of +339.4%, saw the highest growth rate of 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

The average truck and bus tyre export price stood at $X per unit in 2022, picking up by 20% against the previous year. Over the period under review, the export price, however, recorded a abrupt downturn. The most prominent rate of growth was recorded in 2021 an increase of 45%. 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 stood at a somewhat lower figure.

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 the Netherlands ($X per unit), while the average price for exports to Italy ($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 Hungary (+38.6%), while the prices for the other major destinations experienced a decline.

Imports of Tyres For Buses Or Lorries

Imports into Denmark

In 2022, truck and bus tyre imports into Denmark expanded notably to X units, growing by 8.7% compared with the previous year's figure. Overall, total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +5.1% 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 +68.1% against 2013 indices. The pace of growth was the most pronounced in 2021 with an increase of 12% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, truck and bus tyre imports rose notably to $X in 2022. In general, total imports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.1% 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 +44.5% against 2018 indices. The most prominent rate of growth was recorded in 2021 with an increase of 26% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Germany (X units) constituted the largest supplier of truck and bus tyre to Denmark, with a 45% share of total imports. Moreover, truck and bus tyre imports from Germany exceeded the figures recorded by the second-largest supplier, Sweden (X units), threefold. Thailand (X units) ranked third in terms of total imports with an 8.9% share.

From 2012 to 2022, the average annual growth rate of volume from Germany totaled +8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+55.5% per year) and Thailand (+56.1% per year).

In value terms, Germany ($X) constituted the largest supplier of tyres for buses or lorries to Denmark, comprising 38% of total imports. The second position in the ranking was held by Sweden ($X), with a 13% share of total imports. It was followed by Thailand, with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+53.5% per year) and Thailand (+47.0% per year).

Import Prices by Country

In 2022, the average truck and bus tyre import price amounted to $X per unit, rising by 5.6% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 12% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat 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 Spain ($X per unit), while the price for China ($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 (+1.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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