Scandinavia: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in Scandinavia

In 2022, the Scandinavia truck and bus tyre market increased by 17% to $X, rising for the second consecutive year after two years of decline. In general, consumption saw a relatively flat trend pattern. 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 Scandinavia

In value terms, truck and bus tyre production surged to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a dramatic descent. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Tyres For Buses Or Lorries

Exports in Scandinavia

For the third consecutive year, Scandinavia recorded growth in overseas shipments of tyres for buses or lorries, which increased by 21% to X units in 2022. Over the period under review, exports, however, continue to indicate a mild decrease. The most prominent rate of growth was recorded in 2015 with an increase of 40% against the previous year. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, truck and bus tyre exports rose significantly to $X in 2022. Overall, exports, however, showed a slight shrinkage. The most prominent rate of growth was recorded in 2021 when exports increased by 33%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Finland was the major exporting country with an export of around X units, which resulted at 64% of total exports. It was distantly followed by Sweden (X units), comprising a 35% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Sweden (with a CAGR of +5.0%).

In value terms, Sweden ($X) and Finland ($X) constituted the countries with the highest levels of exports in 2022.

Sweden, with a CAGR of +2.5%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

The export price in Scandinavia stood at $X per unit in 2022, with a decrease of -9% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the export price increased by 25% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sweden ($X per unit), while Finland amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (-1.4%).

Imports of Tyres For Buses Or Lorries

Imports in Scandinavia

In 2022, the amount of tyres for buses or lorries imported in Scandinavia expanded notably to X units, surging by 14% compared with the year before. Total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +5.5% 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 +30.9% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of 24%. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in years to come.

In value terms, truck and bus tyre imports surged to $X in 2022. The total import value increased at an average annual rate of +1.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 20%. The level of import peaked in 2022 and is likely to continue growth in years to come.

Imports by Country

Sweden was the key importing country with an import of about X units, which reached 55% of total imports. Finland (X units) ranks second in terms of the total imports with a 26% share, followed by Norway (19%).

From 2012 to 2022, average annual rates of growth with regard to truck and bus tyre imports into Sweden stood at +4.3%. At the same time, Norway (+8.2%) and Finland (+6.7%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +8.2% from 2012-2022. From 2012 to 2022, the share of Norway and Finland increased by +4.3 and +2.7 percentage points, respectively.

In value terms, Sweden ($X) constitutes the largest market for imported tyres for buses or lorries in Scandinavia, comprising 60% of total imports. The second position in the ranking was held by Norway ($X), with a 21% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Sweden stood at +1.5%. In the other countries, the average annual rates were as follows: Norway (+2.2% per year) and Finland (+2.9% per year).

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per unit, with an increase of 3.9% against the previous year. Overall, the import price, however, continues to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2017 when the import price increased by 7.6%. Over the period under review, import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Sweden ($X per unit), while Finland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (-2.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform