Spain: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in Spain

After two years of growth, the Spanish truck and bus tyre market decreased by -2.1% to $X in 2022. The market value increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X, and then contracted in the following year.

Production of Tyres For Buses Or Lorries in Spain

In value terms, truck and bus tyre production reduced to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 26%. As a result, production reached the peak level of $X, and then declined in the following year.

Exports of Tyres For Buses Or Lorries

Exports from Spain

In 2022, overseas shipments of tyres for buses or lorries increased by less than 0.1% to X units, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 20%. Over the period under review, the exports hit record highs at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, truck and bus tyre exports expanded slightly to $X in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 21% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

France (X units), Germany (X units) and the United States (X units) were the main destinations of truck and bus tyre exports from Spain, together comprising 43% of total exports. Portugal, Belgium, Italy, the UK, Poland, Turkey, the Netherlands, Russia and India lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of +20.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for truck and bus tyre exported from Spain were France ($X), Germany ($X) and the United States ($X), together accounting for 42% of total exports. Belgium, Portugal, Italy, Poland, the UK, Turkey, the Netherlands, Russia and India lagged somewhat behind, together comprising a further 38%.

Turkey, with a CAGR of +17.8%, 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

The average truck and bus tyre export price stood at $X per unit in 2022, picking up by 4.7% against the previous year. Over the period under review, the export price, however, showed a pronounced decrease. The pace of growth was the most pronounced in 2017 when the average export price increased by 6.5% against the previous year. The export price peaked 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 the Netherlands ($X per unit), while the average price for exports to Russia ($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 Netherlands (+2.2%), while the prices for the other major destinations experienced a decline.

Imports of Tyres For Buses Or Lorries

Imports into Spain

In 2022, purchases abroad of tyres for buses or lorries increased by 3.4% to X units, rising for the second consecutive year after three years of decline. The total import volume increased at an average annual rate of +2.6% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 22%. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, truck and bus tyre imports expanded remarkably to $X in 2022. The total import value increased at an average annual rate of +3.0% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 26% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

Turkey (X units), Slovakia (X units) and China (X units) were the main suppliers of truck and bus tyre imports to Spain, with a combined 31% share of total imports. Germany, France, Thailand, Poland, Romania, the Netherlands, Italy, Vietnam, the Czech Republic and South Korea lagged somewhat behind, together comprising a further 51%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +229.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Turkey ($X) and Poland ($X) constituted the largest truck and bus tyre suppliers to Spain, with a combined 30% share of total imports. China, Italy, Slovakia, Thailand, Vietnam, Romania, South Korea, France, the Netherlands and the Czech Republic lagged somewhat behind, together comprising a further 50%.

In terms of the main suppliers, Vietnam, with a CAGR of +278.7%, 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 truck and bus tyre import price stood at $X per unit in 2022, rising by 8% against the previous year. In general, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per unit), while the price for France ($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 (+14.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :