Scandinavia: Passenger Car Tyre Market 2024

Passenger Car Tyre Market Size in Scandinavia

The Scandinavia passenger car tyre market surged to $X in 2021, with an increase of 23% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2012; afterwards, it flattened through to 2021.

Passenger Car Tyre Production in Scandinavia

In value terms, passenger car tyre production surged to $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 66%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Passenger Car Tyre Exports

Exports in Scandinavia

In 2021, shipments abroad of tyres for motor cars was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, continue to indicate a mild downturn. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, passenger car tyre exports soared to $X in 2021. In general, exports, however, showed a perceptible setback. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Finland represented the key exporter of tyres for motor cars in Scandinavia, with the volume of exports recording X units, which was near 65% of total exports in 2021. It was distantly followed by Sweden (X units) and Denmark (X units), together generating a 35% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to passenger car tyre exports from Finland stood at -1.8%. At the same time, Sweden (+1.3%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +1.3% from 2012-2021. By contrast, Denmark (-6.1%) illustrated a downward trend over the same period. While the share of Sweden (+5.8 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Finland (-2.2 p.p.) and Denmark (-4 p.p.) displayed negative dynamics.

In value terms, Finland ($X) remains the largest passenger car tyre supplier in Scandinavia, comprising 63% of total exports. The second position in the ranking was held by Sweden ($X), with a 31% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Finland totaled -4.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Sweden (+0.6% per year) and Denmark (-5.5% per year).

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per unit, rising by 5.4% against the previous year. Over the period under review, the export price, however, saw a mild slump. Over the period under review, the export prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: 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 Denmark (+0.6%), while the other leaders experienced a decline in the export price figures.

Passenger Car Tyre Imports

Imports in Scandinavia

In 2021, purchases abroad of tyres for motor cars was finally on the rise to reach X units after four years of decline. In general, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports reached the maximum at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, passenger car tyre imports skyrocketed to $X in 2021. Over the period under review, imports, however, showed a slight reduction. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Sweden (X units), distantly followed by Finland (X units), Norway (X units) and Denmark (X units) were the largest importers of tyres for motor cars, together creating 98% of total imports. Iceland (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Iceland (with a CAGR of +9.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest passenger car tyre importing markets in Scandinavia were Sweden ($X), Norway ($X) and Finland ($X), with a combined 81% share of total imports. Denmark and Iceland lagged somewhat behind, together accounting for a further 19%.

In terms of the main importing countries, Iceland, with a CAGR of +7.2%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per unit, surging by 9.4% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 10% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2021, the import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Norway ($X per unit) and Denmark ($X per unit), while Finland ($X per unit) and Iceland ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+0.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform