Scandinavia: Aircraft Tyre Market 2024

Aircraft Tyre Market Size in Scandinavia

In 2021, the Scandinavia aircraft tyre market was finally on the rise to reach $X after five years of decline. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Aircraft Tyre Production in Scandinavia

In value terms, aircraft tyre production shrank dramatically to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a noticeable setback. The growth pace was the most rapid in 2020 when the production volume increased by 169% against the previous year. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Aircraft Tyre Exports

Exports in Scandinavia

In 2021, the amount of tyres for aircraft exported in Scandinavia fell rapidly to X units, waning by -39.2% against 2020. Overall, exports recorded a abrupt descent. The most prominent rate of growth was recorded in 2017 when exports increased by 128% against the previous year. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, aircraft tyre exports fell significantly to $X in 2021. Over the period under review, exports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 537%. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Denmark (X units) was the main exporter of tyres for aircraft, constituting 74% of total exports. It was distantly followed by Sweden (X units) and Finland (X units), together creating a 20% share of total exports. Iceland (X units) and Norway (X units) followed a long way behind the leaders.

Exports from Denmark decreased at an average annual rate of -13.2% from 2012 to 2021. At the same time, Iceland (+23.1%) displayed positive paces of growth. Moreover, Iceland emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +23.1% from 2012-2021. By contrast, Finland (-10.3%), Sweden (-19.1%) and Norway (-42.0%) illustrated a downward trend over the same period. While the share of Denmark (+29 p.p.), Finland (+4.2 p.p.) and Iceland (+4.2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Sweden (-1.7 p.p.) and Norway (-35.8 p.p.) displayed negative dynamics.

In value terms, Sweden ($X) remains the largest aircraft tyre supplier in Scandinavia, comprising 74% of total exports. The second position in the ranking was taken by Denmark ($X), with a 19% share of total exports. It was followed by Finland, with a 2.4% share.

In Sweden, aircraft tyre exports expanded at an average annual rate of +18.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Denmark (-9.5% per year) and Finland (-13.2% per year).

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per unit, surging by 30% against the previous year. Overall, the export price recorded a strong expansion. The pace of growth appeared the most rapid in 2020 when the export price increased by 183%. Over the period under review, the export prices reached the maximum in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Sweden ($X per unit), while Denmark ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+46.8%), while the other leaders experienced more modest paces of growth.

Aircraft Tyre Imports

Imports in Scandinavia

In 2021, approx. X units of tyres for aircraft were imported in Scandinavia; increasing by 61% compared with 2020. Over the period under review, imports, however, recorded a slight curtailment. Over the period under review, imports attained the maximum at X units in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, aircraft tyre imports skyrocketed to $X in 2021. Total imports indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Norway was the main importer of tyres for aircraft in Scandinavia, with the volume of imports recording X units, which was near 41% of total imports in 2021. It was distantly followed by Sweden (X units), Finland (X units) and Iceland (X units), together making up a 55% share of total imports. Denmark (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Finland (with a CAGR of +14.1%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Sweden ($X) constitutes the largest market for imported tyres for aircraft in Scandinavia, comprising 59% of total imports. The second position in the ranking was held by Norway ($X), with a 22% share of total imports. It was followed by Finland, with a 9.7% share.

In Sweden, aircraft tyre imports increased at an average annual rate of +15.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Norway (-6.6% per year) and Finland (+6.5% per year).

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per unit, declining by -1.6% against the previous year. Import price indicated a moderate increase from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, aircraft tyre import price increased by +78.0% against 2016 indices. The most prominent rate of growth was recorded in 2020 an increase of 41% against the previous year. As a result, import price attained the peak level of $X per unit, and then dropped slightly in the following year.

Prices varied noticeably country of destination: the country with the highest price was Sweden ($X per unit), while Finland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+14.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform