Italy: Passenger Car Tyre Market 2024

Passenger Car Tyre Market Size in Italy

For the third consecutive year, the Italian passenger car tyre market recorded decline in sales value, which decreased by -2.2% to $X in 2021. Overall, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Passenger Car Tyre Production in Italy

In value terms, passenger car tyre production fell sharply to $X in 2021 estimated in export price. In general, production showed a drastic downturn. The most prominent rate of growth was recorded in 2018 with an increase of 11%. Passenger car tyre production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Passenger Car Tyre Exports

Exports from Italy

In 2021, the amount of tyres for motor cars exported from Italy rose sharply to X units, surging by 14% against the previous year. In general, exports, however, saw a pronounced slump. Over the period under review, the exports hit record highs at X units in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, passenger car tyre exports skyrocketed to $X in 2021. Overall, exports, however, saw a relatively flat trend pattern. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

France (X units), Germany (X units) and Spain (X units) were the main destinations of passenger car tyre exports from Italy, with a combined 48% share of total exports. These countries were followed by the United States, the UK, Slovakia, the Netherlands, Belgium, Poland, Turkey, South Korea, China and the Czech Republic, which together accounted for a further 32%.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +12.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for passenger car tyre exported from Italy were France ($X), Germany ($X) and Spain ($X), with a combined 42% share of total exports. The Netherlands, the UK, the United States, Belgium, China, Poland, Slovakia, South Korea, Turkey and the Czech Republic lagged somewhat behind, together accounting for a further 38%.

In terms of the main countries of destination, South Korea, with a CAGR of +14.1%, recorded 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 passenger car tyre export price stood at $X per unit in 2021, surging by 6.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.2%. The pace of growth appeared the most rapid in 2014 when the average export price increased by 11% against the previous year. The export price peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was the Netherlands ($X per unit), while the average price for exports to the Czech Republic ($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 Belgium (+10.9%), while the prices for the other major destinations experienced more modest paces of growth.

Passenger Car Tyre Imports

Imports into Italy

Passenger car tyre imports into Italy expanded markedly to X units in 2021, growing by 12% on the previous year. In general, imports showed a relatively flat trend pattern. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, passenger car tyre imports skyrocketed to $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern. Imports peaked at $X in 2013; afterwards, it flattened through to 2021.

Imports by Country

China (X units), Germany (X units) and the Czech Republic (X units) were the main suppliers of passenger car tyre imports to Italy, together comprising 36% of total imports. These countries were followed by Romania, Hungary, Poland, Spain, France, South Korea, Serbia, Russia, Turkey and the Netherlands, which together accounted for a further 48%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Russia (with a CAGR of +25.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest passenger car tyre suppliers to Italy were Germany ($X), China ($X) and the Czech Republic ($X), with a combined 33% share of total imports. These countries were followed by Hungary, Romania, France, Spain, Poland, South Korea, the Netherlands, Turkey, Russia and Serbia, which together accounted for a further 52%.

Russia, with a CAGR of +19.8%, recorded the highest rates of growth with regard to 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

The average passenger car tyre import price stood at $X per unit in 2021, rising by 11% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 15%. Over the period under review, average import prices reached the peak figure in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by Romania (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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