Luxembourg: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in Luxembourg

For the third year in a row, the Luxembourg truck and bus tyre market recorded growth in sales value, which increased by 620% to $X in 2022. Overall, consumption showed a significant expansion. 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 Luxembourg

In value terms, truck and bus tyre production declined slightly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a mild slump. The most prominent rate of growth was recorded in 2016 with an increase of 13% against the previous year. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Exports of Tyres For Buses Or Lorries

Exports from Luxembourg

In 2022, overseas shipments of tyres for buses or lorries 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 +3.5% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, truck and bus tyre exports skyrocketed to $X in 2022. In general, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 20%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X units), the Netherlands (X units) and Poland (X units) were the main destinations of truck and bus tyre exports from Luxembourg, with a combined 60% share of total exports. France, Belgium, Spain, Lithuania, Turkey, Italy, Sweden, Romania, Russia and the UK lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2022, the biggest increases were recorded for Lithuania (with a CAGR of +63.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and France ($X) appeared to be the largest markets for truck and bus tyre exported from Luxembourg worldwide, with a combined 54% share of total exports. Poland, Belgium, Spain, Lithuania, Turkey, Italy, Sweden, Romania, Russia and the UK lagged somewhat behind, together comprising a further 31%.

Among the main countries of destination, Lithuania, with a CAGR of +59.4%, 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

The average truck and bus tyre export price stood at $X per unit in 2022, therefore, remained relatively stable against the previous year. In general, the export price, however, showed a perceptible decline. The growth pace was the most rapid in 2018 when the average export price increased by 10%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Romania ($X per unit), while the average price for exports to the Netherlands ($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 Romania (-0.2%), while the prices for the other major destinations experienced a decline.

Imports of Tyres For Buses Or Lorries

Imports into Luxembourg

In 2022, purchases abroad of tyres for buses or lorries increased by 13% to X units, rising for the sixth consecutive year after two years of decline. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +9.4% 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 +65.5% against 2016 indices. The growth pace was the most rapid in 2013 with an increase of 33% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the near future.

In value terms, truck and bus tyre imports skyrocketed to $X in 2022. In general, imports enjoyed resilient growth. The growth pace was the most rapid in 2014 with an increase of 30% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Germany (X units), Belgium (X units) and Slovakia (X units) were the main suppliers of truck and bus tyre imports to Luxembourg, with a combined 56% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovakia (with a CAGR of +86.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest truck and bus tyre suppliers to Luxembourg were Germany ($X), Belgium ($X) and Slovakia ($X), together comprising 60% of total imports.

Slovakia, with a CAGR of +76.8%, 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 truck and bus tyre import price stood at $X per unit in 2022, with an increase of 3% against the previous year. Overall, the import price, however, saw a perceptible decline. The most prominent rate of growth was recorded in 2020 an increase of 19%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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