Hungary: Retreaded Pneumatic Tyre Market 2024

Retreaded Pneumatic Tyre Market Size in Hungary

In 2022, the Hungarian retreaded pneumatic tyre market increased by 12% to $X, rising for the third year in a row after three years of decline. Overall, consumption showed a buoyant expansion. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Retreaded Pneumatic Tyre Production in Hungary

In value terms, retreaded pneumatic tyre production contracted slightly to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the production volume increased by 60% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Retreaded Pneumatic Tyre Exports

Exports from Hungary

In 2022, exports of retreaded pneumatic tyres from Hungary contracted to X units, with a decrease of -7.2% compared with the previous year. Overall, exports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 174% against the previous year. Over the period under review, the exports hit record highs at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, retreaded pneumatic tyre exports totaled $X in 2022. Over the period under review, exports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2016 with an increase of 248%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

The Czech Republic (X units), Romania (X units) and Austria (X units) were the main destinations of retreaded pneumatic tyre exports from Hungary, with a combined 68% share of total exports. Slovakia, Slovenia, Bulgaria and Serbia lagged somewhat behind, together comprising a further 26%.

From 2012 to 2022, the biggest increases were recorded for Bulgaria (with a CAGR of +117.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X), Romania ($X) and Austria ($X) were the largest markets for retreaded pneumatic tyre exported from Hungary worldwide, with a combined 68% share of total exports. Slovakia, Slovenia, Bulgaria and Serbia lagged somewhat behind, together comprising a further 29%.

In terms of the main countries of destination, Bulgaria, with a CAGR of +105.4%, 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

In 2022, the average retreaded pneumatic tyre export price amounted to $X per unit, surging by 9.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.7%. The most prominent rate of growth was recorded in 2016 an increase of 27% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Serbia ($X per unit), while the average price for exports to Austria ($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 Serbia (+19.6%), while the prices for the other major destinations experienced more modest paces of growth.

Retreaded Pneumatic Tyre Imports

Imports into Hungary

In 2022, imports of retreaded pneumatic tyres into Hungary shrank to X units, waning by -4.7% compared with the previous year's figure. Overall, imports, however, posted a prominent expansion. The growth pace was the most rapid in 2016 with an increase of 173% against the previous year. Over the period under review, imports attained the maximum at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, retreaded pneumatic tyre imports expanded modestly to $X in 2022. Over the period under review, imports, however, showed a resilient increase. The pace of growth appeared the most rapid in 2016 with an increase of 169% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Germany (X units) constituted the largest retreaded pneumatic tyre supplier to Hungary, accounting for a 84% share of total imports. Moreover, retreaded pneumatic tyre imports from Germany exceeded the figures recorded by the second-largest supplier, Spain (X units), more than tenfold. France (X units) ranked third in terms of total imports with a 2.2% share.

From 2012 to 2022, the average annual growth rate of volume from Germany totaled +12.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+31.6% per year) and France (-7.3% per year).

In value terms, Germany ($X) constituted the largest supplier of retreaded pneumatic tyres to Hungary, comprising 83% of total imports. The second position in the ranking was taken by Spain ($X), with an 8.8% share of total imports. It was followed by the UK, with a 3.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled +16.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+36.7% per year) and the UK (+357.6% per year).

Import Prices by Country

The average retreaded pneumatic tyre import price stood at $X per unit in 2022, picking up by 9.8% against the previous year. Over the last decade, it increased at an average annual rate of +4.0%. The pace of growth appeared the most rapid in 2013 when the average import price increased by 18%. The import price peaked in 2022 and is likely to continue growth in the near future.

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 the UK ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+89.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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