EU: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in the EU

In 2022, the EU truck and bus tyre market increased by 7.2% to $X, rising for the second consecutive year after two years of decline. In general, consumption, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 8.9% against the previous year. Over the period under review, the market reached the peak level in 2022 and is likely to see steady growth in years to come.

Production of Tyres For Buses Or Lorries in the EU

In value terms, truck and bus tyre production stood at $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the production volume increased by 11% against the previous year. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Exports of Tyres For Buses Or Lorries

Exports in the EU

In 2022, truck and bus tyre exports in the European Union fell modestly to X units, with a decrease of -1.7% against the previous year's figure. The total export volume increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 19%. The volume of export peaked at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, truck and bus tyre exports stood at $X in 2022. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 23%. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Slovakia (X units) and Germany (X units) represented roughly 31% of total exports in 2022. Poland (X units) held the next position in the ranking, followed by the Czech Republic (X units), France (X units), Spain (X units), Romania (X units), Hungary (X units) and the Netherlands (X units). All these countries together took near 53% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Slovakia (with a CAGR of +7.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest truck and bus tyre supplying countries in the European Union were Germany ($X), Slovakia ($X) and Poland ($X), with a combined 42% share of total exports. Spain, the Czech Republic, France, Romania, the Netherlands and Hungary lagged somewhat behind, together comprising a further 37%.

In terms of the main exporting countries, Romania, with a CAGR of +3.5%, 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

In 2022, the export price in the European Union amounted to $X per unit, picking up by 3.1% against the previous year. Overall, the export price, however, saw a slight reduction. The most prominent rate of growth was recorded in 2020 an increase of 11% against the previous year. Over the period under review, the export prices reached the maximum at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+1.9%), while the other leaders experienced mixed trends in the export price figures.

Imports of Tyres For Buses Or Lorries

Imports in the EU

In 2022, purchases abroad of tyres for buses or lorries increased by 3.8% to X units, rising for the second consecutive year after three years of decline. The total import volume 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. The pace of growth appeared the most rapid in 2021 with an increase of 19% against the previous year. The volume of import peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, truck and bus tyre imports rose markedly to $X in 2022. The total import value increased at an average annual rate of +1.5% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 24% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Germany (X units), distantly followed by France (X units), the Netherlands (X units), Italy (X units), Poland (X units), Belgium (X units) and Spain (X units) were the main importers of tyres for buses or lorries, together committing 76% of total imports. The following importers - Sweden (X units), Romania (X units), Hungary (X units), the Czech Republic (X units), Austria (X units) and Slovakia (X units) - together made up 13% of total imports.

From 2012 to 2022, average annual rates of growth with regard to truck and bus tyre imports into Germany stood at +3.9%. At the same time, Poland (+7.3%), Slovakia (+5.5%), the Netherlands (+5.4%), the Czech Republic (+5.3%), Hungary (+4.4%), Sweden (+4.3%), Belgium (+4.2%), Romania (+3.9%), Spain (+2.6%), Italy (+2.6%) and France (+2.3%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing importer imported in the European Union, with a CAGR of +7.3% from 2012-2022. Austria experienced a relatively flat trend pattern. From 2012 to 2022, the share of Poland increased by +2 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported tyres for buses or lorries in the European Union, comprising 22% of total imports. The second position in the ranking was taken by France ($X), with an 11% share of total imports. It was followed by the Netherlands, with a 9.4% share.

In Germany, truck and bus tyre imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: France (+0.2% per year) and the Netherlands (+1.8% per year).

Import Prices by Country

The import price in the European Union stood at $X per unit in 2022, surging by 4.5% against the previous year. Overall, the import price, however, continues to indicate a pronounced decline. The pace of growth was the most pronounced in 2018 an increase of 8.6% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 Sweden ($X per unit), while Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+0.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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