Portugal: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in Portugal

The Portuguese truck and bus tyre market soared to $X in 2022, jumping by 24% against the previous year. The market value increased at an average annual rate of +3.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Tyres For Buses Or Lorries in Portugal

In value terms, truck and bus tyre production skyrocketed to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Exports of Tyres For Buses Or Lorries

Exports from Portugal

Truck and bus tyre exports from Portugal contracted dramatically to X units in 2022, waning by -68.3% compared with the previous year's figure. Overall, exports faced a abrupt contraction. The pace of growth was the most pronounced in 2017 with an increase of 137% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, truck and bus tyre exports contracted significantly to $X in 2022. In general, exports saw a deep slump. The most prominent rate of growth was recorded in 2017 with an increase of 152%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Spain (X units) was the main destination for truck and bus tyre exports from Portugal, accounting for a 54% share of total exports. Moreover, truck and bus tyre exports to Spain exceeded the volume sent to the second major destination, Morocco (X units), fourfold. Angola (X units) ranked third in terms of total exports with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Spain stood at -9.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Morocco (-11.2% per year) and Angola (-14.0% per year).

In value terms, Spain ($X) remains the key foreign market for tyres for buses or lorries exports from Portugal, comprising 56% of total exports. The second position in the ranking was held by Angola ($X), with a 17% share of total exports. It was followed by Morocco, with a 16% share.

From 2012 to 2022, the average annual growth rate of value to Spain stood at -7.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (-11.6% per year) and Morocco (-7.0% per year).

Export Prices by Country

The average truck and bus tyre export price stood at $X per unit in 2022, picking up by 95% against the previous year. In general, export price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Angola ($X per unit), while the average price for exports to France ($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 Iran (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tyres For Buses Or Lorries

Imports into Portugal

In 2022, imports of tyres for buses or lorries into Portugal declined to X units, waning by -7.2% on the previous year. Overall, total imports indicated a mild increase from 2012 to 2022: its volume increased at an average annual rate of +1.1% 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 +2.8% against 2020 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 71%. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, truck and bus tyre imports expanded rapidly to $X in 2022. Over the period under review, imports, however, showed mild growth. The pace of growth was the most pronounced in 2017 with an increase of 36% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Spain (X units) constituted the largest supplier of truck and bus tyre to Portugal, accounting for a 34% share of total imports. Moreover, truck and bus tyre imports from Spain exceeded the figures recorded by the second-largest supplier, Romania (X units), threefold. The third position in this ranking was held by the Czech Republic (X units), with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain totaled -4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+12.7% per year) and the Czech Republic (+5.9% per year).

In value terms, Spain ($X) constituted the largest supplier of tyres for buses or lorries to Portugal, comprising 46% of total imports. The second position in the ranking was held by Germany ($X), with a 9.9% share of total imports. It was followed by Thailand, with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain stood at -2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.1% per year) and Thailand (+8.1% per year).

Import Prices by Country

In 2022, the average truck and bus tyre import price amounted to $X per unit, increasing by 15% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 22%. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat 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 Japan ($X per unit), while the price for Serbia ($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 (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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