Slovakia: Market for Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles 2024

Market Size for Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles in Slovakia

The Slovak market for tyres for agriculture, forestry, construction, industry and other off the road vehicles surged to $X in 2022, rising by 126% against the previous year. Overall, consumption saw a temperate expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles in Slovakia

In value terms, production of tyres for agriculture, forestry, construction, industry and other off the road vehicles fell notably to $X in 2022 estimated in export price. Overall, production, however, faced a deep slump. The most prominent rate of growth was recorded in 2021 when the production volume increased by 81% against the previous year. Over the period under review, production of tyres for agriculture, forestry, construction, industry and other off road vehicles hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles

Exports from Slovakia

Exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Slovakia contracted to X units in 2022, with a decrease of -10.4% compared with the year before. Overall, exports, however, enjoyed a resilient increase. The pace of growth was the most pronounced in 2017 with an increase of 155%. Over the period under review, the exports of tyres for agriculture, forestry, construction, industry and other off road vehicles reached the maximum at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles reached $X in 2022. Over the period under review, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2017 when exports increased by 143% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Germany (X units), the Czech Republic (X units) and the United States (X units) were the main destinations of exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Slovakia, with a combined 60% share of total exports. Poland, Turkey, Hungary, Italy, France, Spain, the UK and Belgium lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +204.7%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for tyres for agriculture, forestry, construction, industry and other off the road vehicles exports from Slovakia, comprising 30% of total exports. The second position in the ranking was held by the Czech Republic ($X), with a 14% share of total exports. It was followed by the United States, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to Germany totaled +32.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+19.9% per year) and the United States (+161.7% per year).

Export Prices by Country

The average export price for tyres for agriculture, forestry, construction, industry and other off the road vehicles stood at $X per unit in 2022, picking up by 14% against the previous year. In general, export price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +7.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for tyres for agriculture, forestry, construction, industry and other off the road vehicles increased by +8.2% against 2018 indices. The pace of growth appeared the most rapid in 2018 when the average export price increased by 30% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to the Czech Republic ($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 Spain (+50.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles

Imports into Slovakia

In 2022, approx. X units of tyres for agriculture, forestry, construction, industry and other off the road vehicles were imported into Slovakia; reducing by -11.7% against 2021. In general, total imports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +3.3% 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 +45.4% against 2013 indices. The pace of growth was the most pronounced in 2021 when imports increased by 19% against the previous year. As a result, imports reached the peak of X units, and then reduced in the following year.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles rose markedly to $X in 2022. Over the period under review, imports, however, showed a remarkable increase. The pace of growth appeared the most rapid in 2021 when imports increased by 44%. 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 agricultural, construction and industrial machinery tyre to Slovakia, accounting for a 36% share of total imports. Moreover, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from China exceeded the figures recorded by the second-largest supplier, India (X units), threefold. The third position in this ranking was taken by Indonesia (X units), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (+13.8% per year) and Indonesia (+40.6% per year).

In value terms, India ($X) constituted the largest supplier of tyres for agriculture, forestry, construction, industry and other off the road vehicles to Slovakia, comprising 28% of total imports. The second position in the ranking was held by the Czech Republic ($X), with a 12% share of total imports. It was followed by China, with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India totaled +17.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+8.5% per year) and China (+2.3% per year).

Import Prices by Country

The average import price for tyres for agriculture, forestry, construction, industry and other off the road vehicles stood at $X per unit in 2022, rising by 28% against the previous year. Over the last decade, it increased at an average annual rate of +4.9%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovenia (+21.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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