Greece: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in Greece

The Greek truck and bus tyre market rose remarkably to $X in 2022, surging by 15% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +5.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in years to come.

Exports of Tyres For Buses Or Lorries

Exports from Greece

In 2022, the amount of tyres for buses or lorries exported from Greece contracted modestly to X units, which is down by -3.4% compared with 2021. Over the period under review, exports saw a abrupt setback. The most prominent rate of growth was recorded in 2016 with an increase of 20%. The exports peaked at X units in 2012; however, from 2013 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 showed a perceptible contraction. The growth pace was the most rapid in 2021 with an increase of 33% against the previous year. 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

Cyprus (X units), Bulgaria (X units) and Albania (X units) were the main destinations of truck and bus tyre exports from Greece, with a combined 80% share of total exports. Luxembourg, Germany, Hungary, Poland and Italy lagged somewhat behind, together comprising a further 18%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Luxembourg (with a CAGR of +118.9%), while the other leaders experienced more modest paces of growth.

In value terms, Cyprus ($X), Bulgaria ($X) and Albania ($X) were the largest markets for truck and bus tyre exported from Greece worldwide, together comprising 84% of total exports. Germany, Luxembourg, Hungary, Poland and Italy lagged somewhat behind, together comprising a further 13%.

In terms of the main countries of destination, Luxembourg, with a CAGR of +165.1%, recorded 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 average truck and bus tyre export price stood at $X per unit in 2022, picking up by 14% against the previous year. Over the last decade, it increased at an average annual rate of +2.4%. The pace of growth was the most pronounced in 2021 when the average export price increased by 26%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Bulgaria ($X per unit), while the average price for exports to Poland ($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 Luxembourg (+21.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tyres For Buses Or Lorries

Imports into Greece

In 2022, truck and bus tyre imports into Greece expanded remarkably to X units, picking up by 8.4% compared with the previous year. The total import volume increased at an average annual rate of +5.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 32%. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, truck and bus tyre imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +4.6% 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 2013 when imports increased by 36%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

China (X units), Turkey (X units) and Thailand (X units) were the main suppliers of truck and bus tyre imports to Greece, with a combined 34% share of total imports. France, Vietnam, Poland, Belgium, Spain, the Netherlands, Serbia, Germany and South Korea lagged somewhat behind, together comprising a further 51%.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +134.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), France ($X) and Turkey ($X) appeared to be the largest truck and bus tyre suppliers to Greece, with a combined 33% share of total imports.

Among the main suppliers, France, with a CAGR of +160.8%, 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

In 2022, the average truck and bus tyre import price amounted to $X per unit, with an increase of 6.7% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 22% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for Serbia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+11.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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