Hungary: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in Hungary

The Hungarian truck and bus tyre market declined sharply to $X in 2022, shrinking by -31.1% against the previous year. Overall, consumption, however, enjoyed pronounced growth. As a result, consumption reached the peak level of $X, and then shrank markedly in the following year.

Production of Tyres For Buses Or Lorries in Hungary

In value terms, truck and bus tyre production plummeted to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the production volume increased by 92%. Truck and bus tyre production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Tyres For Buses Or Lorries

Exports from Hungary

In 2022, the amount of tyres for buses or lorries exported from Hungary fell to X units, with a decrease of -10.9% against 2021 figures. Overall, exports, however, posted pronounced growth. The most prominent rate of growth was recorded in 2019 with an increase of 80%. As a result, the exports attained the peak of X units. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, truck and bus tyre exports expanded slightly to $X in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 59%. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X units) was the main destination for truck and bus tyre exports from Hungary, accounting for a 21% share of total exports. Moreover, truck and bus tyre exports to Germany exceeded the volume sent to the second major destination, Poland (X units), twofold. The third position in this ranking was held by Turkey (X units), with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany stood at +2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+6.8% per year) and Turkey (+17.2% per year).

In value terms, the largest markets for truck and bus tyre exported from Hungary were Germany ($X), Romania ($X) and Poland ($X), with a combined 36% share of total exports. The Czech Republic, Austria, the UK, Italy, Turkey, France, Slovakia, Belgium, the Netherlands and Spain lagged somewhat behind, together comprising a further 47%.

Among the main countries of destination, Belgium, with a CAGR of +68.3%, saw the highest growth rate of 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 truck and bus tyre export price amounted to $X per unit, increasing by 15% against the previous year. In general, the export price, however, continues to indicate a noticeable shrinkage. The pace of growth appeared the most rapid in 2020 when the average export price increased by 29% 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 Romania ($X per unit), while the average price for exports to Turkey ($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 Austria (+3.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Tyres For Buses Or Lorries

Imports into Hungary

After two years of growth, purchases abroad of tyres for buses or lorries decreased by -6.1% to X units in 2022. Overall, total imports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +4.4% 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 +15.1% against 2019 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 51% against the previous year. As a result, imports reached the peak of X units. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, truck and bus tyre imports shrank to $X in 2022. The total import value increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when imports increased by 30%. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Germany (X units), Slovakia (X units) and France (X units) were the main suppliers of truck and bus tyre imports to Hungary, with a combined 49% share of total imports. Serbia, China, Poland, Romania, Spain, India, the Czech Republic, Thailand, Turkey and Italy lagged somewhat behind, together accounting for a further 43%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +374.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of tyres for buses or lorries to Hungary, comprising 27% of total imports. The second position in the ranking was held by Slovakia ($X), with an 11% share of total imports. It was followed by Spain, with a 9.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany amounted to +16.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovakia (-1.9% per year) and Spain (-0.5% per year).

Import Prices by Country

In 2022, the average truck and bus tyre import price amounted to $X per unit, with an increase of 4.2% against the previous year. Over the period under review, the import price, however, saw a mild reduction. The pace of growth appeared the most rapid in 2017 an increase of 22% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 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 Spain ($X per unit), while the price for Serbia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+20.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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