Serbia: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in Serbia

In 2022, the Serbian truck and bus tyre market decreased by -1.7% to $X, falling for the third consecutive year after three years of growth. In general, consumption continues to indicate a noticeable decline. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Tyres For Buses Or Lorries in Serbia

In value terms, truck and bus tyre production fell to $X in 2022 estimated in export price. In general, production, however, showed a resilient increase. The most prominent rate of growth was recorded in 2019 with an increase of 40%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Exports of Tyres For Buses Or Lorries

Exports from Serbia

In 2022, shipments abroad of tyres for buses or lorries decreased by -4.9% to X units for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 117%. The exports peaked at X units in 2021, and then declined modestly in the following year.

In value terms, truck and bus tyre exports expanded sharply to $X in 2022. In general, exports, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2013 when exports increased by 117% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

Exports by Country

Poland (X units), the UK (X units) and Romania (X units) were the main destinations of truck and bus tyre exports from Serbia, with a combined 31% share of total exports. Turkey, Hungary, Spain, France, Italy, Germany, Bulgaria, Ukraine and Russia lagged somewhat behind, together accounting for a further 50%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +48.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for truck and bus tyre exported from Serbia were Poland ($X), the UK ($X) and Turkey ($X), with a combined 30% share of total exports. Romania, Hungary, Italy, France, Spain, Germany, Russia, Bulgaria and Ukraine lagged somewhat behind, together accounting for a further 50%.

Ukraine, with a CAGR of +34.5%, saw the highest growth rate of 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

The average truck and bus tyre export price stood at $X per unit in 2022, rising by 12% against the previous year. Overall, the export price, however, showed a deep setback. The growth pace was the most rapid in 2018 when the average export price increased by 15% against the previous year. The export price peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per unit), while the average price for exports to the UK ($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 Russia (-4.2%), while the prices for the other major destinations experienced a decline.

Imports of Tyres For Buses Or Lorries

Imports into Serbia

In 2022, purchases abroad of tyres for buses or lorries was finally on the rise to reach X units after two years of decline. Overall, total imports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -2.6% against 2019 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 37% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, truck and bus tyre imports expanded significantly to $X in 2022. In general, total imports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +2.7% 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 +66.7% against 2015 indices. The pace of growth was the most pronounced in 2018 when imports increased by 19% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest supplier of truck and bus tyre to Serbia, accounting for a 36% share of total imports. Moreover, truck and bus tyre imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), twofold. South Korea (X units) ranked third in terms of total imports with a 6.5% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +23.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+15.5% per year) and South Korea (+50.1% per year).

In value terms, China ($X) constituted the largest supplier of tyres for buses or lorries to Serbia, comprising 31% of total imports. The second position in the ranking was held by Turkey ($X), with a 13% share of total imports. It was followed by South Korea, with an 8.1% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +21.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+11.1% per year) and South Korea (+53.4% per year).

Import Prices by Country

In 2022, the average truck and bus tyre import price amounted to $X per unit, picking up by 12% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 27%. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+10.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform