Estonia: Tyre Market 2024

Tyre Market Size in Estonia

In 2022, the Estonian tyre market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption, however, enjoyed temperate growth. As a result, consumption reached the peak level of $X, and then dropped remarkably in the following year.

Tyre Production in Estonia

In value terms, tyre production amounted to $X in 2022 estimated in export price. Overall, production continues to indicate a precipitous decrease. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. Tyre production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Tyre Exports

Exports from Estonia

In 2022, approx. X units of tyres were exported from Estonia; dropping by X% against the previous year. Over the period under review, exports faced a dramatic decrease. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports attained the peak figure at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, tyre exports declined to $X in 2022. Overall, exports continue to indicate a dramatic shrinkage. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Finland (X units) was the main destination for tyre exports from Estonia, with a X% share of total exports. Moreover, tyre exports to Finland exceeded the volume sent to the second major destination, Latvia (X units), twofold. The third position in this ranking was taken by Lithuania (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Finland amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (X% per year) and Lithuania (X% per year).

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

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

Export Prices by Country

The average tyre export price stood at $X per unit in 2022, surging by X% against the previous year. Over the period under review, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tyre export price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in the near future.

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

Tyre Imports

Imports into Estonia

In 2022, supplies from abroad of tyres increased by X% to X units, rising for the second year in a row after two years of decline. Over the period under review, imports, however, continue to indicate a abrupt contraction. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, tyre imports declined to $X in 2022. In general, imports, however, showed a abrupt slump. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Latvia (X units), Poland (X units) and China (X units) were the main suppliers of tyre imports to Estonia, with a combined X% share of total imports. South Korea, Germany, Finland, Sri Lanka, Lithuania, the Netherlands, Serbia, Russia, Japan and Indonesia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Sri Lanka (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest tyre suppliers to Estonia were Latvia ($X), Poland ($X) and China ($X), with a combined X% share of total imports. Finland, South Korea, Germany, the Netherlands, Lithuania, Russia, Serbia, Japan, Sri Lanka and Indonesia lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Lithuania, with a CAGR of X%, recorded 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

The average tyre import price stood at $X per unit in 2022, which is down by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform