EU: Passenger Car Tyre Market 2024

Passenger Car Tyre Market Size in the EU

In 2021, the EU passenger car tyre market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Passenger Car Tyre Production in the EU

In value terms, passenger car tyre production rose sharply to $X in 2021 estimated in export price. In general, production, however, continues to indicate a slight downturn. The pace of growth appeared the most rapid in 2017 when the production volume increased by 21% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Passenger Car Tyre Exports

Exports in the EU

In 2021, overseas shipments of tyres for motor cars were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, recorded a noticeable descent. The most prominent rate of growth was recorded in 2013 when exports increased by 13% against the previous year. As a result, the exports reached the peak of X units. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, passenger car tyre exports surged to $X in 2021. Over the period under review, exports recorded a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Germany (X units), distantly followed by Poland (X units), Romania (X units), Hungary (X units), the Netherlands (X units), Spain (X units), the Czech Republic (X units), Italy (X units), Portugal (X units) and France (X units) were the main exporters of tyres for motor cars, together constituting 88% of total exports.

From 2012 to 2021, the biggest increases were recorded for Hungary (with a CAGR of +3.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and Poland ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising 39% of total exports. Hungary, Romania, France, the Czech Republic, Portugal, Spain and Italy lagged somewhat behind, together accounting for a further 48%.

Among the main exporting countries, Hungary, with a CAGR of +4.3%, recorded 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 export price in the European Union stood at $X per unit in 2021, surging by 5.2% against the previous year. Over the last nine years, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2016 when the export price increased by 22%. Over the period under review, the export prices hit record highs in 2021 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was the Netherlands ($X per unit), while Spain ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+5.1%), while the other leaders experienced more modest paces of growth.

Passenger Car Tyre Imports

Imports in the EU

After two years of decline, purchases abroad of tyres for motor cars increased by 13% to X units in 2021. Overall, imports recorded a relatively flat trend pattern. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, passenger car tyre imports skyrocketed to $X in 2021. Over the period under review, imports saw a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X units), distantly followed by France (X units), the Netherlands (X units), Italy (X units), Spain (X units), Poland (X units) and Belgium (X units) were the main importers of tyres for motor cars, together generating 73% of total imports. The Czech Republic (X units), Slovakia (X units), Hungary (X units), Romania (X units), Sweden (X units) and Austria (X units) held a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Romania (with a CAGR of +8.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest passenger car tyre importing markets in the European Union were Germany ($X), France ($X) and the Netherlands ($X), together comprising 48% of total imports. Italy, Spain, Belgium, Poland, the Czech Republic, Slovakia, Hungary, Sweden, Austria and Romania lagged somewhat behind, together comprising a further 42%.

Among the main importing countries, Romania, with a CAGR of +9.3%, 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 import price in the European Union stood at $X per unit in 2021, with an increase of 7.8% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 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 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Austria ($X per unit) and the Netherlands ($X per unit), while Spain ($X per unit) and Romania ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+3.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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