Luxembourg: Market for Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles 2024

Market Size for Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles in Luxembourg

In 2022, the Luxembourg market for tyres for agriculture, forestry, construction, industry and other off the road vehicles increased by 81% to $X, rising for the second year in a row after two years of decline. Overall, consumption enjoyed a perceptible expansion. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the immediate term.

Production of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles in Luxembourg

In value terms, production of tyres for agriculture, forestry, construction, industry and other off the road vehicles fell slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a pronounced decline. The most prominent rate of growth was recorded in 2018 with an increase of 95% against the previous year. Production of peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles

Exports from Luxembourg

In 2022, shipments abroad of tyres for agriculture, forestry, construction, industry and other off the road vehicles increased by 15% to X units, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of 75% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles soared to $X in 2022. In general, total exports indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +64.8% against 2020 indices. The growth pace was the most rapid in 2018 when exports increased by 104%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Germany (X units), Sweden (X units) and the UK (X units) were the main destinations of exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Luxembourg, together accounting for 43% of total exports. South Africa, the United States, France, Turkey, the Netherlands, Italy, Poland, Spain, Belgium and Australia lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +10.6%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Sweden ($X) and South Africa ($X) were the largest markets for agricultural, construction and industrial machinery tyre exported from Luxembourg worldwide, together comprising 43% of total exports. The United States, the UK, France, Poland, the Netherlands, Spain, Turkey, Italy, Australia and Belgium lagged somewhat behind, together accounting for a further 35%.

In terms of the main countries of destination, Spain, with a CAGR of +12.6%, recorded 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 export price for tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X per unit, surging by 12% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average export price increased by 17%. The export price peaked in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to the UK ($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 the UK (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles

Imports into Luxembourg

In 2022, overseas purchases of tyres for agriculture, forestry, construction, industry and other off the road vehicles increased by 50% to X units, rising for the second consecutive year after two years of decline. Over the period under review, imports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2014 with an increase of 99%. Over the period under review, imports of tyres for agriculture, forestry, construction, industry and other off road vehicles attained the maximum at X units in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles shrank to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 72%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports of remained at a somewhat lower figure.

Imports by Country

Belgium (X units), the United States (X units) and the Netherlands (X units) were the main suppliers of imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles to Luxembourg, together comprising 78% of total imports. Germany, Indonesia, Slovakia, the Czech Republic, China and Japan lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2022, the biggest increases were recorded for Slovakia (with a CAGR of +83.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) constituted the largest supplier of tyres for agriculture, forestry, construction, industry and other off the road vehicles to Luxembourg, comprising 53% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 12% share of total imports. It was followed by the United States, with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Belgium totaled +10.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+33.0% per year) and the United States (+17.6% per year).

Import Prices by Country

In 2022, the average import price for tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X per unit, waning by -38.2% against the previous year. Overall, the import price showed a abrupt descent. The most prominent rate of growth was recorded in 2016 when the average import price increased by 77% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2012; however, from 2013 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 Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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