Spain: 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 Spain

After two years of growth, the Spanish market for tyres for agriculture, forestry, construction, industry and other off the road vehicles decreased by -2.4% to $X in 2022. Over the period under review, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +24.9% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2021, and then dropped slightly in the following year.

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

In value terms, production of tyres for agriculture, forestry, construction, industry and other off the road vehicles contracted slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a noticeable setback. The pace of growth was the most pronounced in 2017 with an increase of 104%. Over the period under review, production of tyres for agriculture, forestry, construction, industry and other off road vehicles hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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

Exports from Spain

In 2022, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Spain fell to X units, dropping by -6.5% against 2021 figures. Overall, exports continue to indicate a slight decrease. The most prominent rate of growth was recorded in 2021 with an increase of 26% against the previous year. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles rose notably to $X in 2022. Over the period under review, exports showed a perceptible shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of 20%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

France (X units), Germany (X units) and the UK (X units) were the main destinations of exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Spain, together comprising 38% of total exports. Portugal, the United States, Morocco, Mexico, Italy, the Czech Republic, China, Poland, Belgium and Andorra lagged somewhat behind, together comprising a further 42%.

From 2012 to 2022, the biggest increases were recorded for Andorra (with a CAGR of +53.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X), the United States ($X) and Germany ($X) appeared to be the largest markets for agricultural, construction and industrial machinery tyre exported from Spain worldwide, with a combined 34% share of total exports. China, the UK, Portugal, Belgium, Italy, the Czech Republic, Mexico, Poland, Morocco and Andorra lagged somewhat behind, together comprising a further 21%.

Andorra, with a CAGR of +43.7%, recorded the highest growth rate of the value of exports, among 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

In 2022, the average export price for tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X per unit, jumping by 18% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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 China ($X per unit), while the average price for exports to Morocco ($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 the United States (+3.6%), 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 Spain

In 2022, purchases abroad of tyres for agriculture, forestry, construction, industry and other off the road vehicles increased by 6.5% to X units, rising for the second consecutive year after two years of decline. Over the period under review, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +8.0% 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 +51.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 42% against the previous year. Over the period under review, imports of tyres for agriculture, forestry, construction, industry and other off road vehicles attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles fell to $X in 2022. The total import value increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 35%. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

In 2022, Germany (X units) constituted the largest agricultural, construction and industrial machinery tyre supplier to Spain, with a 47% share of total imports. Moreover, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Germany exceeded the figures recorded by the second-largest supplier, China (X units), twofold. India (X units) ranked third in terms of total imports with an 8.1% share.

From 2012 to 2022, the average annual growth rate of volume from Germany totaled +17.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+5.4% per year) and India (+8.5% per year).

In value terms, India ($X), China ($X) and France ($X) constituted the largest agricultural, construction and industrial machinery tyre suppliers to Spain, together comprising 42% of total imports. Portugal, the Czech Republic, Germany, Poland, Turkey, Italy, Belgium, Taiwan (Chinese), Vietnam and Indonesia lagged somewhat behind, together accounting for a further 31%.

Among the main suppliers, Vietnam, with a CAGR of +68.9%, 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

The average import price for tyres for agriculture, forestry, construction, industry and other off the road vehicles stood at $X per unit in 2022, waning by -15.1% against the previous year. Over the period under review, the import price recorded a perceptible contraction. The pace of growth was the most pronounced in 2018 when the average import price increased by 11%. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 France ($X per unit), while the price for Germany ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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