Hungary: 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 Hungary

The Hungarian market for tyres for agriculture, forestry, construction, industry and other off the road vehicles surged to $X in 2022, jumping by 21% against the previous year. Over the period under review, consumption, however, continues to indicate a mild contraction. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Production of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles in Hungary

In value terms, production of tyres for agriculture, forestry, construction, industry and other off the road vehicles surged to $X in 2022 estimated in export price. In general, production, however, recorded a deep slump. The growth pace was the most rapid in 2019 with an increase of 215%. Over the period under review, production of tyres for agriculture, forestry, construction, industry and other off road vehicles hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

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

Exports from Hungary

In 2022, overseas shipments of tyres for agriculture, forestry, construction, industry and other off the road vehicles decreased by -18.7% to X units, falling for the second year in a row after two years of growth. Overall, exports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 124%. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles fell rapidly to $X in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 13%. The exports peaked at $X in 2021, and then fell dramatically in the following year.

Exports by Country

Italy (X units), France (X units) and the UK (X units) were the main destinations of exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Hungary, together comprising 43% of total exports.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +141.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for agricultural, construction and industrial machinery tyre exported from Hungary were the Czech Republic ($X), Romania ($X) and Slovakia ($X), together accounting for 41% of total exports. France, Italy, Serbia, the UK, the Netherlands, Germany, Finland, Spain, Sweden and Poland lagged somewhat behind, together accounting for a further 29%.

Among the main countries of destination, the UK, with a CAGR of +80.2%, 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

The average export price for tyres for agriculture, forestry, construction, industry and other off the road vehicles stood at $X per unit in 2022, increasing by 2% against the previous year. In general, the export price, however, recorded a abrupt slump. The pace of growth appeared the most rapid in 2018 when the average export price increased by 28% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 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 the Czech Republic ($X per unit), while the average price for exports to Germany ($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 Finland (+20.7%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Hungary

After three years of decline, purchases abroad of tyres for agriculture, forestry, construction, industry and other off the road vehicles increased by 5% to X units in 2022. Overall, imports saw a strong increase. The pace of growth appeared the most rapid in 2014 with an increase of 112% against the previous year. Over the period under review, imports of tyres for agriculture, forestry, construction, industry and other off road vehicles hit record highs at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles dropped slightly to $X in 2022. The total import value increased at an average annual rate of +4.5% over the period 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 2018 when imports increased by 23%. Imports peaked at $X in 2021, and then reduced modestly in the following year.

Imports by Country

China (X units), India (X units) and the United States (X units) were the main suppliers of imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles to Hungary, with a combined 67% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +104.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constituted the largest supplier of tyres for agriculture, forestry, construction, industry and other off the road vehicles to Hungary, comprising 28% of total imports. The second position in the ranking was held by Poland ($X), with a 12% share of total imports. It was followed by Slovakia, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India totaled +25.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+3.0% per year) and Slovakia (+9.8% per year).

Import Prices by Country

In 2022, the average import price for tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X per unit, falling by -5.6% against the previous year. Over the period under review, the import price continues to indicate a noticeable descent. The pace of growth was the most pronounced in 2021 an increase of 28%. Over the period under review, average import prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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 France ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+50.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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