Hungary: Aircraft Tyre Market 2024

Aircraft Tyre Market Size in Hungary

The Hungarian aircraft tyre market fell to $X in 2021, declining by -5.3% against the previous year. In general, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Aircraft Tyre Production in Hungary

In value terms, aircraft tyre production shrank to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 28%. Aircraft tyre production peaked at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Aircraft Tyre Exports

Exports from Hungary

In 2021, overseas shipments of tyres for aircraft were finally on the rise to reach X units after two years of decline. Over the period under review, exports showed resilient growth. The growth pace was the most rapid in 2018 with an increase of 1,850% against the previous year. The exports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, aircraft tyre exports soared to $X in 2021. Overall, exports, however, continue to indicate a slight setback. The most prominent rate of growth was recorded in 2018 with an increase of 2,083% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Iran (X units) was the main destination for aircraft tyre exports from Hungary, with a 83% share of total exports. Moreover, aircraft tyre exports to Iran exceeded the volume sent to the second major destination, Serbia (X units), eightfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Iran was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (-7.4% per year) and Georgia (0.0% per year).

In value terms, Iran ($X) emerged as the key foreign market for tyres for aircraft exports from Hungary, comprising 91% of total exports. The second position in the ranking was taken by Georgia ($X), with a 4.8% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Iran was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Georgia (0.0% per year) and Serbia (-19.7% per year).

Export Prices by Country

In 2021, the average aircraft tyre export price amounted to $X per unit, jumping by 67% against the previous year. Overall, the export price, however, saw a abrupt curtailment. The pace of growth was the most pronounced in 2016 an increase of 304%. Over the period under review, the average export prices attained the maximum at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Iran ($X per unit), while the average price for exports to Serbia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+212.8%), while the prices for the other major destinations experienced a decline.

Aircraft Tyre Imports

Imports into Hungary

In 2021, overseas purchases of tyres for aircraft increased by 367% to X units, rising for the second year in a row after five years of decline. In general, imports enjoyed a buoyant increase. Imports peaked at X units in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, aircraft tyre imports skyrocketed to $X in 2021. Over the period under review, imports saw a buoyant increase. The most prominent rate of growth was recorded in 2020 with an increase of 1,153% against the previous year. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, France (X units) constituted the largest aircraft tyre supplier to Hungary, accounting for a 52% share of total imports. Moreover, aircraft tyre imports from France exceeded the figures recorded by the second-largest supplier, the Czech Republic (X units), fourfold. The third position in this ranking was taken by the UK (X units), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from France totaled +57.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+23.3% per year) and the UK (+16.7% per year).

In value terms, the largest aircraft tyre suppliers to Hungary were France ($X), the UK ($X) and the United States ($X), together comprising 86% of total imports.

France, with a CAGR of +61.6%, recorded the highest growth rate of the value of imports, among 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 aircraft tyre import price stood at $X per unit in 2021, rising by 69% against the previous year. Overall, the import price posted a strong expansion. The most prominent rate of growth was recorded in 2020 an increase of 371%. The import price peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per unit), while the price for the Czech Republic ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+17.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :