Italy: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in Italy

The Italian truck and bus tyre market soared to $X in 2022, with an increase of 23% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Tyres For Buses Or Lorries in Italy

In value terms, truck and bus tyre production fell modestly to $X in 2022 estimated in export price. In general, production continues to indicate a abrupt descent. The pace of growth appeared the most rapid in 2021 with an increase of 4.2%. Truck and bus tyre production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Tyres For Buses Or Lorries

Exports from Italy

In 2022, approx. X units of tyres for buses or lorries were exported from Italy; waning by -32.1% against the previous year. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when exports increased by 37%. Over the period under review, the exports hit record highs at X units in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, truck and bus tyre exports shrank significantly to $X in 2022. Overall, exports recorded a perceptible downturn. The pace of growth appeared the most rapid in 2021 when exports increased by 19% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units), France (X units) and the UK (X units) were the main destinations of truck and bus tyre exports from Italy, together comprising 51% 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 the UK (with a CAGR of +28.6%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), France ($X) and Germany ($X) constituted the largest markets for truck and bus tyre exported from Italy worldwide, with a combined 48% share of total exports. The Netherlands, Canada, the UK, Turkey, Spain, Mexico, Morocco and Slovakia lagged somewhat behind, together comprising a further 29%.

In terms of the main countries of destination, Mexico, with a CAGR of +17.6%, 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 5.3% against the previous year. Overall, the export price, however, recorded a pronounced decline. The pace of growth was the most pronounced in 2020 an increase of 9.4%. Over the period under review, the average export prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per unit), while the average price for exports to the UK ($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 Mexico (+2.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tyres For Buses Or Lorries

Imports into Italy

In 2022, approx. X units of tyres for buses or lorries were imported into Italy; with a decrease of -4.5% on 2021. The total import volume increased at an average annual rate of +2.6% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 11%. As a result, imports attained the peak of X units, and then declined modestly in the following year.

In value terms, truck and bus tyre imports amounted to $X in 2022. The total import value increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2021 when imports increased by 16%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in years to come.

Imports by Country

The Czech Republic (X units), Turkey (X units) and China (X units) were the main suppliers of truck and bus tyre imports to Italy, together accounting for 36% of total imports. Poland, Slovakia, Romania, France, Germany, Spain, Thailand, South Korea, Egypt and the UK lagged somewhat behind, together accounting for a further 53%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +49.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest truck and bus tyre suppliers to Italy were Turkey ($X), Poland ($X) and Spain ($X), together comprising 29% of total imports. The Czech Republic, Romania, Slovakia, China, Germany, Thailand, France, Egypt, South Korea and the UK lagged somewhat behind, together comprising a further 57%.

Thailand, with a CAGR of +58.5%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average truck and bus tyre import price amounted to $X per unit, surging by 13% against the previous year. In general, the import price, however, continues to indicate a slight decline. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per unit), while the price for the Czech Republic ($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 (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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