Estonia: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in Estonia

In 2022, after two years of growth, there was significant decline in the Estonian truck and bus tyre market, when its value decreased by -11% to $X. In general, consumption, however, showed a buoyant expansion. Truck and bus tyre consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Exports of Tyres For Buses Or Lorries

Exports from Estonia

In 2022, the amount of tyres for buses or lorries exported from Estonia dropped to X units, with a decrease of -6.3% compared with the previous year's figure. Overall, exports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2018 with an increase of 33% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, truck and bus tyre exports reduced to $X in 2022. Over the period under review, exports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 27% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Finland (X units), Russia (X units) and Latvia (X units) were the main destinations of truck and bus tyre exports from Estonia, together comprising 78% of total exports. Lithuania, Slovakia, Belarus and Poland lagged somewhat behind, together comprising a further 20%.

From 2012 to 2022, the biggest increases were recorded for Belarus (with a CAGR of +43.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Finland ($X) remains the key foreign market for tyres for buses or lorries exports from Estonia, comprising 53% of total exports. The second position in the ranking was taken by Russia ($X), with a 15% share of total exports. It was followed by Latvia, with a 14% share.

From 2012 to 2022, the average annual growth rate of value to Finland totaled -5.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (-21.5% per year) and Latvia (-12.5% per year).

Export Prices by Country

In 2022, the average truck and bus tyre export price amounted to $X per unit, falling by -4.3% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by 36%. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Finland ($X per unit), while the average price for exports to Belarus ($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 Cuba (+23.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tyres For Buses Or Lorries

Imports into Estonia

In 2022, approx. X units of tyres for buses or lorries were imported into Estonia; waning by -16.2% compared with the previous year. Overall, imports saw a abrupt descent. The most prominent rate of growth was recorded in 2016 with an increase of 19% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, truck and bus tyre imports reduced modestly to $X in 2022. Over the period under review, imports recorded a drastic downturn. The most prominent rate of growth was recorded in 2021 with an increase of 17% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Latvia (X units) constituted the largest truck and bus tyre supplier to Estonia, with a 31% share of total imports. Moreover, truck and bus tyre imports from Latvia exceeded the figures recorded by the second-largest supplier, China (X units), twofold. The third position in this ranking was taken by Thailand (X units), with a 9.4% share.

From 2012 to 2022, the average annual growth rate of volume from Latvia totaled +20.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-14.2% per year) and Thailand (+3.0% per year).

In value terms, Latvia ($X) constituted the largest supplier of tyres for buses or lorries to Estonia, comprising 30% of total imports. The second position in the ranking was taken by Poland ($X), with a 12% share of total imports. It was followed by Thailand, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from Latvia stood at +13.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+3.9% per year) and Thailand (+0.9% per year).

Import Prices by Country

The average truck and bus tyre import price stood at $X per unit in 2022, rising by 14% against the previous year. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 26% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Finland ($X per unit), while the price for China ($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 (+19.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform