Slovakia: Passenger Car Tyre Market 2024

Passenger Car Tyre Market Size in Slovakia

The Slovak passenger car tyre market surged to $X in 2021, with an increase of 140% against the previous year. In general, consumption recorded prominent growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Passenger Car Tyre Production in Slovakia

In value terms, passenger car tyre production expanded markedly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 32% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a lower figure.

Passenger Car Tyre Exports

Exports from Slovakia

After three years of decline, overseas shipments of tyres for motor cars increased by 9.7% to X units in 2021. In general, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when exports increased by 18% against the previous year. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, passenger car tyre exports soared to $X in 2021. The total export value increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2013 when exports increased by 22% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X units) was the main destination for passenger car tyre exports from Slovakia, accounting for a 21% share of total exports. Moreover, passenger car tyre exports to Germany exceeded the volume sent to the second major destination, the Czech Republic (X units), twofold. The United States (X units) ranked third in terms of total exports with a 6.5% share.

From 2012 to 2021, the average annual growth rate of volume to Germany totaled -1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+0.8% per year) and the United States (-4.6% per year).

In value terms, Germany ($X), the Czech Republic ($X) and the United States ($X) appeared to be the largest markets for passenger car tyre exported from Slovakia worldwide, together accounting for 39% of total exports. Hungary, Austria, Poland, the UK, France, Belgium, Italy, Turkey, the Netherlands and Spain lagged somewhat behind, together comprising a further 39%.

Among the main countries of destination, Turkey, with a CAGR of +19.6%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average passenger car tyre export price stood at $X per unit in 2021, increasing by 6.1% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.1%. The pace of growth was the most pronounced in 2020 when the average export price increased by 10%. The export price peaked in 2021 and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Austria ($X per unit), while the average price for exports to Poland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+3.8%), while the prices for the other major destinations experienced more modest paces of growth.

Passenger Car Tyre Imports

Imports into Slovakia

In 2021, overseas purchases of tyres for motor cars were 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, total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -12.3% against 2018 indices. The pace of growth appeared the most rapid in 2016 when imports increased by 39%. Imports peaked at X units in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, passenger car tyre imports surged to $X in 2021. Overall, total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when imports increased by 38% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to continue growth in the immediate term.

Imports by Country

The Czech Republic (X units), Germany (X units) and Romania (X units) were the main suppliers of passenger car tyre imports to Slovakia, with a combined 60% share of total imports. These countries were followed by Hungary, Portugal, Poland, Italy, Spain, the Netherlands, France, China and South Korea, which together accounted for a further 32%.

From 2012 to 2021, the biggest increases were recorded for Portugal (with a CAGR of +20.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest passenger car tyre suppliers to Slovakia were the Czech Republic ($X), Germany ($X) and Hungary ($X), with a combined 62% share of total imports. These countries were followed by Romania, Italy, Portugal, Poland, Spain, the Netherlands, France, China and South Korea, which together accounted for a further 29%.

Among the main suppliers, Romania, with a CAGR of +20.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average passenger car tyre import price amounted to $X per unit, growing by 3.6% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average import price increased by 10% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was South Korea ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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