Portugal: Market for Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles 2025

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

The Portuguese market for tyres for agriculture, forestry, construction, industry and other off the road vehicles shrank dramatically to $X in 2022, waning by -18.7% against the previous year. Overall, consumption, however, showed a measured increase. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

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

In value terms, production of tyres for agriculture, forestry, construction, industry and other off the road vehicles contracted dramatically to $X in 2022 estimated in export price. Over the period under review, production faced a precipitous slump. The most prominent rate of growth was recorded in 2021 when the production volume increased by 156% 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 Portugal

After two years of growth, overseas shipments of tyres for agriculture, forestry, construction, industry and other off the road vehicles decreased by -8% to X units in 2022. In general, exports, however, showed strong growth. The most prominent rate of growth was recorded in 2017 when exports increased by 152% against the previous year. The exports peaked at X units in 2021, and then fell in the following year.

In value terms, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles totaled $X in 2022. Over the period under review, exports, however, recorded a prominent increase. The pace of growth was the most pronounced in 2017 when exports increased by 150% against the previous year. Over the period under review, the exports of tyres for agriculture, forestry, construction, industry and other off road vehicles attained the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Spain (X units) was the main destination for exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Portugal, accounting for a 60% share of total exports. Moreover, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles to Spain exceeded the volume sent to the second major destination, Germany (X units), sixfold. The third position in this ranking was held by the United States (X units), with a 6.5% share.

From 2012 to 2022, the average annual growth rate of volume to Spain stood at +20.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+46.0% per year) and the United States (+26.2% per year).

In value terms, the largest markets for agricultural, construction and industrial machinery tyre exported from Portugal were Spain ($X), the United States ($X) and Germany ($X), together accounting for 64% of total exports. Angola, the UK, France, Cuba and the United Arab Emirates lagged somewhat behind, together comprising a further 15%.

In terms of the main countries of destination, the UK, with a CAGR of +79.8%, saw 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 export price for tyres for agriculture, forestry, construction, industry and other off the road vehicles stood at $X per unit in 2022, increasing by 18% against the previous year. Overall, export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for tyres for agriculture, forestry, construction, industry and other off the road vehicles increased by +77.8% against 2017 indices. The pace of growth was the most pronounced in 2020 an increase of 22%. The export price peaked in 2022 and is likely to see steady growth in years to come.

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 the United States ($X per unit), while the average price for exports to the United Arab Emirates ($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 United States (+12.0%), 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 Portugal

In 2022, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles into Portugal fell significantly to X units, waning by -17.8% against the previous year. Over the period under review, imports, however, enjoyed a pronounced increase. The pace of growth appeared the most rapid in 2021 with an increase of 60%. As a result, imports reached the peak of X units, and then declined significantly in the following year.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles fell to $X in 2022. Overall, imports, however, posted a prominent expansion. The growth pace was the most rapid in 2017 when imports increased by 91%. Imports peaked at $X in 2021, and then contracted in the following year.

Imports by Country

India (X units), China (X units) and Spain (X units) were the main suppliers of imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles to Portugal, together comprising 75% of total imports. Turkey, the Netherlands, Vietnam and Taiwan (Chinese) lagged somewhat behind, together comprising a further 17%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +16.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constituted the largest supplier of tyres for agriculture, forestry, construction, industry and other off the road vehicles to Portugal, comprising 46% of total imports. The second position in the ranking was held by Spain ($X), with a 21% share of total imports. It was followed by the Netherlands, with a 6.7% share.

From 2012 to 2022, the average annual growth rate of value from India amounted to +17.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+1.9% per year) and the Netherlands (+8.1% per year).

Import Prices by Country

The average import price for tyres for agriculture, forestry, construction, industry and other off the road vehicles stood at $X per unit in 2022, surging by 14% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.8%. The most prominent rate of growth was recorded in 2013 an increase of 25%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per unit), while the price for Vietnam ($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 Netherlands (+20.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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