Romania: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in Romania

After six years of growth, the Romanian truck and bus tyre market decreased by -74.6% to $X in 2022. Over the period under review, consumption faced a abrupt setback. The pace of growth appeared the most rapid in 2020 with an increase of 7.1% against the previous year. Truck and bus tyre consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Tyres For Buses Or Lorries in Romania

In value terms, truck and bus tyre production skyrocketed to $X in 2022 estimated in export price. In general, production saw a perceptible contraction. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Tyres For Buses Or Lorries

Exports from Romania

Truck and bus tyre exports from Romania rose significantly to X units in 2022, with an increase of 5.5% on the previous year. In general, total exports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +5.8% 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 +29.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 23% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, truck and bus tyre exports rose to $X in 2022. Overall, total exports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +3.5% 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 +61.1% against 2015 indices. The pace of growth was the most pronounced in 2021 when exports increased by 33% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Germany (X units), France (X units) and Italy (X units) were the main destinations of truck and bus tyre exports from Romania, together comprising 46% of total exports. Poland, Turkey, Spain, Slovakia, the Netherlands, Switzerland, Belgium, Hungary, the Czech Republic and the UK lagged somewhat behind, together comprising a further 36%.

From 2012 to 2022, the biggest increases were recorded for Slovakia (with a CAGR of +35.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and Italy ($X) were the largest markets for truck and bus tyre exported from Romania worldwide, together comprising 46% of total exports. Poland, Spain, Hungary, Turkey, the Netherlands, Switzerland, Slovakia, Belgium, the UK and the Czech Republic lagged somewhat behind, together accounting for a further 35%.

Slovakia, with a CAGR of +32.8%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination 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 truck and bus tyre export price amounted to $X per unit, dropping by -2.7% against the previous year. Over the period under review, the export price continues to indicate a pronounced downturn. The pace of growth appeared the most rapid in 2020 an increase of 16%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

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 Hungary ($X per unit), while the average price for exports to Slovakia ($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 (+3.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tyres For Buses Or Lorries

Imports into Romania

In 2022, overseas purchases of tyres for buses or lorries increased by 2.6% to X units, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 27% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, truck and bus tyre imports rose sharply to $X in 2022. In general, total imports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +3.9% 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 +43.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 29%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Hungary (X units), China (X units) and Turkey (X units) were the main suppliers of truck and bus tyre imports to Romania, together accounting for 40% of total imports. Slovakia, Serbia, Poland, Thailand, Germany, the Czech Republic, the Netherlands, Spain, South Korea and France lagged somewhat behind, together comprising a further 49%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +138.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Hungary ($X), Germany ($X) and Slovakia ($X) appeared to be the largest truck and bus tyre suppliers to Romania, together comprising 35% of total imports. Turkey, Thailand, Poland, China, the Netherlands, South Korea, Spain, the Czech Republic, Serbia and France lagged somewhat behind, together comprising a further 49%.

In terms of the main suppliers, Thailand, with a CAGR of +150.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average truck and bus tyre import price amounted to $X per unit, growing by 8.2% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 9.6% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for Serbia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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