Ireland: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in Ireland

After three years of growth, the Irish truck and bus tyre market decreased by -15.8% to $X in 2022. In general, consumption, however, showed a buoyant increase. Truck and bus tyre consumption peaked at $X in 2021, and then declined markedly in the following year.

Exports of Tyres For Buses Or Lorries

Exports from Ireland

For the fourth consecutive year, Ireland recorded decline in overseas shipments of tyres for buses or lorries, which decreased by 0% to X units in 2022. In general, exports continue to indicate a noticeable expansion. The pace of growth appeared the most rapid in 2015 with an increase of 84%. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, truck and bus tyre exports totaled $X in 2022. Overall, exports recorded prominent growth. The most prominent rate of growth was recorded in 2018 when exports increased by 47%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The UK (X units), the Netherlands (X units) and Belgium (X units) were the main destinations of truck and bus tyre exports from Ireland, with a combined 95% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (with a CAGR of +38.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for truck and bus tyre exported from Ireland were the UK ($X), the Netherlands ($X) and Belgium ($X), together accounting for 95% of total exports.

Belgium, with a CAGR of +58.8%, 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 2022, the average truck and bus tyre export price amounted to $X per unit, stabilizing at the previous year. In general, the export price saw resilient growth. The growth pace was the most rapid in 2019 an increase of 63%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were the Netherlands ($X per unit) and Austria ($X per unit), while the average price for exports to the UK ($X per unit) and Germany ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+14.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tyres For Buses Or Lorries

Imports into Ireland

In 2022, approx. X units of tyres for buses or lorries were imported into Ireland; picking up by 6.2% on 2021 figures. Over the period under review, total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -11.5% against 2020 indices. The pace of growth was the most pronounced in 2019 with an increase of 37%. Over the period under review, imports hit record highs at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, truck and bus tyre imports totaled $X in 2022. In general, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.6% 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 +92.6% against 2016 indices. The most prominent rate of growth was recorded in 2014 with an increase of 26% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

The UK (X units), Spain (X units) and Thailand (X units) were the main suppliers of truck and bus tyre imports to Ireland, with a combined 33% share of total imports. China, Poland, Vietnam, South Korea, Luxembourg, Germany, Turkey, Romania, Hungary and the Netherlands lagged somewhat behind, together accounting for a further 50%.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +192.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Spain ($X) and Luxembourg ($X) appeared to be the largest truck and bus tyre suppliers to Ireland, together accounting for 38% of total imports. Thailand, Germany, South Korea, Vietnam, Poland, Turkey, Romania, China, the Netherlands and Hungary lagged somewhat behind, together comprising a further 48%.

In terms of the main suppliers, Romania, with a CAGR of +194.1%, saw the highest growth rate of 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

The average truck and bus tyre import price stood at $X per unit in 2022, growing by 2.2% against the previous year. Overall, the import price, however, showed a mild descent. The pace of growth was the most pronounced in 2021 an increase of 32% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Hungary ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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