EU: 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 the EU

In 2022, the EU market for tyres for agriculture, forestry, construction, industry and other off the road vehicles increased by 1.8% to $X, rising for the second year in a row after two years of decline. The total consumption indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +2.5% 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 +29.8% against 2020 indices. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

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

In value terms, production of tyres for agriculture, forestry, construction, industry and other off the road vehicles contracted slightly to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 47%. 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 2021, and then reduced modestly in the following year.

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

Exports in the EU

In 2022, overseas shipments of tyres for agriculture, forestry, construction, industry and other off the road vehicles decreased by -2.2% to X units for the first time since 2019, thus ending a two-year rising trend. Total exports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +5.0% 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 +5.6% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of 20%. Over the period under review, the exports of tyres for agriculture, forestry, construction, industry and other off road vehicles hit record highs at X units in 2021, and then contracted modestly in the following year.

In value terms, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles expanded rapidly to $X in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 23%. 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.

Exports by Country

The Netherlands represented the largest exporting country with an export of around X units, which finished at 32% of total exports. Germany (X units) held the second position in the ranking, followed by the Czech Republic (X units), Italy (X units), Slovakia (X units), France (X units) and Poland (X units). All these countries together held near 48% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to agricultural, construction and industrial machinery tyre exports from the Netherlands stood at +14.8%. At the same time, Slovakia (+18.0%), Germany (+14.1%), Italy (+4.2%), Poland (+1.6%) and the Czech Republic (+1.3%) displayed positive paces of growth. Moreover, Slovakia emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +18.0% from 2012-2022. By contrast, France (-2.4%) illustrated a downward trend over the same period. While the share of the Netherlands (+19 p.p.), Germany (+6.2 p.p.) and Slovakia (+4.9 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Poland (-2.3 p.p.), the Czech Republic (-4.4 p.p.) and France (-7.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest agricultural, construction and industrial machinery tyre supplying countries in the European Union were France ($X), the Czech Republic ($X) and the Netherlands ($X), with a combined 39% share of total exports. Italy, Slovakia, Poland and Germany lagged somewhat behind, together comprising a further 25%.

In terms of the main exporting countries, Slovakia, with a CAGR of +27.2%, saw the highest rates of growth with regard to 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 export price in the European Union stood at $X per unit in 2022, growing by 9.6% against the previous year. Overall, the export price, however, continues to indicate a perceptible setback. Over the period under review, the export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was France ($X per unit), while the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (+7.9%), while the other leaders experienced a decline in the export price figures.

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

Imports in the EU

In 2022, supplies from abroad of tyres for agriculture, forestry, construction, industry and other off the road vehicles decreased by -5.4% to X units for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +4.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 28%. As a result, imports reached the peak of X units, and then shrank in the following year.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X in 2022. Total imports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +2.2% 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 +20.7% against 2018 indices. The pace of growth appeared the most rapid in 2021 with an increase of 35%. Over the period under review, imports of tyres for agriculture, forestry, construction, industry and other off road vehicles hit record highs in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, Germany (X units), distantly followed by the Netherlands (X units), Italy (X units), France (X units), Spain (X units) and Poland (X units) represented the main importers of tyres for agriculture, forestry, construction, industry and other off the road vehicles, together mixing up 69% of total imports. The following importers - Belgium (X units), Slovakia (X units), Denmark (X units), Austria (X units), the Czech Republic (X units), Latvia (X units) and Romania (X units) - together made up 19% of total imports.

From 2012 to 2022, the biggest increases were recorded for Austria (with a CAGR of +10.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), France ($X) and Italy ($X) were the countries with the highest levels of imports in 2022, with a combined 47% share of total imports. The Netherlands, Poland, Belgium, Spain, Austria, Slovakia, the Czech Republic, Latvia, Denmark and Romania lagged somewhat behind, together comprising a further 34%.

Slovakia, with a CAGR of +8.4%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the European Union stood at $X per unit in 2022, surging by 6.9% against the previous year. Overall, the import price, however, saw a mild decrease. The pace of growth was the most pronounced in 2018 when the import price increased by 11%. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was France ($X per unit), while Denmark ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (+4.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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