Greece: 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 Greece

In 2022, the Greek market for tyres for agriculture, forestry, construction, industry and other off the road vehicles decreased by -15.5% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, the total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Consumption of peaked at $X in 2021, and then fell significantly in the following year.

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

Exports from Greece

In 2022, shipments abroad of tyres for agriculture, forestry, construction, industry and other off the road vehicles increased by 300% to X units, rising for the third consecutive year after two years of decline. Over the period under review, exports continue to indicate a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles shrank rapidly to $X in 2022. In general, exports, however, continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2020 when exports increased by 68%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Hungary (X units) was the main destination for exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Greece, accounting for a 54% share of total exports. Moreover, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles to Hungary exceeded the volume sent to the second major destination, Ghana (X units), threefold. Slovakia (X units) ranked third in terms of total exports with a 16% share.

From 2012 to 2022, the average annual growth rate of volume to Hungary totaled +1,489.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ghana (+70.7% per year) and Slovakia (+19,152.4% per year).

In value terms, Cyprus ($X), Albania ($X) and Slovakia ($X) constituted the largest markets for agricultural, construction and industrial machinery tyre exported from Greece worldwide, with a combined 57% share of total exports.

Slovakia, with a CAGR of +952.8%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for tyres for agriculture, forestry, construction, industry and other off the road vehicles stood at $X per unit in 2022, shrinking by -79% against the previous year. Over the period under review, the export price saw a deep reduction. The pace of growth appeared the most rapid in 2016 an increase of 146% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cyprus ($X per unit), while the average price for exports to Hungary ($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 Ghana (+57.2%), while the prices for the other major destinations experienced mixed trend patterns.

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

Imports into Greece

In 2022, after two years of growth, there was decline in supplies from abroad of tyres for agriculture, forestry, construction, industry and other off the road vehicles, when their volume decreased by -5% to X units. The total import volume increased at an average annual rate of +3.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by 28%. Over the period under review, imports of tyres for agriculture, forestry, construction, industry and other off road vehicles reached the peak figure at X units in 2021, and then shrank modestly in the following year.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles reduced to $X in 2022. Overall, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.8% 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 +54.4% against 2015 indices. The pace of growth was the most pronounced in 2013 with an increase of 31% against the previous year. Over the period under review, imports of tyres for agriculture, forestry, construction, industry and other off road vehicles attained the peak figure at $X in 2021, and then contracted in the following year.

Imports by Country

China (X units), India (X units) and Turkey (X units) were the main suppliers of imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles to Greece, with a combined 78% share of total imports. Germany, Thailand, Taiwan (Chinese) and Vietnam lagged somewhat behind, together accounting for a further 14%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +44.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), China ($X) and Turkey ($X) appeared to be the largest agricultural, construction and industrial machinery tyre suppliers to Greece, together comprising 74% of total imports. Germany, Thailand, Vietnam and Taiwan (Chinese) lagged somewhat behind, together comprising a further 3.5%.

Vietnam, with a CAGR of +25.9%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for tyres for agriculture, forestry, construction, industry and other off the road vehicles stood at $X per unit in 2022, waning by -5.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2016 when the average import price increased by 17%. The import price peaked at $X per unit in 2020; however, from 2021 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 India ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :