Hungary: Passenger Car Tyre Market 2024

Passenger Car Tyre Market Size in Hungary

In 2021, the Hungarian passenger car tyre market increased by 45% to $X for the first time since 2017, thus ending a three-year declining trend. In general, the total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +8.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Passenger Car Tyre Production in Hungary

In value terms, passenger car tyre production soared to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Passenger Car Tyre Exports

Exports from Hungary

In 2021, exports of tyres for motor cars from Hungary soared to X units, increasing by 17% on the previous year's figure. The total export volume increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 with an increase of 24%. The exports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, passenger car tyre exports surged to $X in 2021. The total export value increased at an average annual rate of +4.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by 21%. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Germany (X units), the Netherlands (X units) and France (X units) were the main destinations of passenger car tyre exports from Hungary, together comprising 43% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +25.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for passenger car tyre exported from Hungary were Germany ($X), the Netherlands ($X) and France ($X), with a combined 42% share of total exports. These countries were followed by Austria, Italy, the UK, Romania, Spain, Poland, the United States, the Czech Republic, Turkey and Russia, which together accounted for a further 41%.

Romania, with a CAGR of +24.1%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average passenger car tyre export price amounted to $X per unit, growing by 2.6% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 17% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Poland ($X per unit), while the average price for exports to the Netherlands ($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 Poland (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.

Passenger Car Tyre Imports

Imports into Hungary

In 2021, approx. X units of tyres for motor cars were imported into Hungary; falling by -5.6% on the year before. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 16% against the previous year. Imports peaked at X units in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, passenger car tyre imports expanded significantly to $X in 2021. The total import value increased at an average annual rate of +3.9% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 17%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

Germany (X units), Romania (X units) and the Czech Republic (X units) were the main suppliers of passenger car tyre imports to Hungary, with a combined 41% share of total imports. Slovakia, Poland, Belgium, Portugal, Spain, Serbia, China, France, Italy and Turkey lagged somewhat behind, together comprising a further 51%.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +56.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Belgium ($X) and Romania ($X) appeared to be the largest passenger car tyre suppliers to Hungary, with a combined 45% share of total imports. Slovakia, the Czech Republic, Spain, Poland, Portugal, France, Italy, Serbia, China and Turkey lagged somewhat behind, together comprising a further 48%.

Among the main suppliers, Turkey, with a CAGR of +58.3%, saw the highest rates of growth with regard to 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 2021, the average passenger car tyre import price amounted to $X per unit, surging by 18% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.4%. The most prominent rate of growth was recorded in 2020 an increase of 22% against the previous year. Over the period under review, average import prices reached the peak figure in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Belgium ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+13.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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