Spain: Passenger Car Tyre Market 2024

Passenger Car Tyre Market Size in Spain

In 2021, after two years of decline, there was significant growth in the Spanish passenger car tyre market, when its value increased by 27% to $X. The market value increased at an average annual rate of +5.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the near future.

Passenger Car Tyre Production in Spain

In value terms, passenger car tyre production expanded rapidly to $X in 2021 estimated in export price. Overall, production recorded a relatively flat trend pattern. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Passenger Car Tyre Exports

Exports from Spain

In 2021, the amount of tyres for motor cars exported from Spain rose remarkably to X units, surging by 11% compared with the previous year's figure. Over the period under review, exports, however, recorded a pronounced reduction. Over the period under review, the exports attained the maximum at X units in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, passenger car tyre exports surged to $X in 2021. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 20%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

France (X units), Germany (X units) and Portugal (X units) were the main destinations of passenger car tyre exports from Spain, together comprising 52% of total exports. These countries were followed by Italy, the UK, the Czech Republic, Turkey, Belgium, Poland, the Netherlands, Slovakia, Hungary and Japan, which together accounted for a further 33%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of -0.1%), while the other leaders experienced a decline.

In value terms, the largest markets for passenger car tyre exported from Spain were France ($X), Germany ($X) and Portugal ($X), together accounting for 54% of total exports. These countries were followed by Italy, the UK, the Czech Republic, the Netherlands, Poland, Belgium, Turkey, Slovakia, Hungary and Japan, which together accounted for a further 31%.

Among the main countries of destination, Hungary, with a CAGR of +5.0%, recorded the highest growth rate of 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 4.8% against the previous year. Over the last nine years, it increased at an average annual rate of +3.6%. The most prominent rate of growth was recorded in 2019 when the average export price increased by 15%. As a result, the export price attained the peak level of $X per unit. From 2020 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Portugal ($X per unit), while the average price for exports to the Czech Republic ($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 Japan (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Passenger Car Tyre Imports

Imports into Spain

In 2021, after two years of decline, there was significant growth in overseas purchases of tyres for motor cars, when their volume increased by 17% to X units. The total import volume increased at an average annual rate of +1.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 22% against the previous year. Over the period under review, imports reached the peak figure 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, imports, however, continue to indicate a relatively flat trend pattern. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

China (X units), Germany (X units) and Poland (X units) were the main suppliers of passenger car tyre imports to Spain, together accounting for 44% of total imports. Italy, France, Portugal, Hungary, Serbia, South Korea, the Czech Republic, Romania, Turkey and the Netherlands lagged somewhat behind, together accounting for a further 46%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +15.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Germany ($X) and Poland ($X) constituted the largest passenger car tyre suppliers to Spain, with a combined 40% share of total imports. These countries were followed by Italy, France, Portugal, Hungary, the Czech Republic, South Korea, Romania, the Netherlands, Serbia and Turkey, which together accounted for a further 49%.

In terms of the main suppliers, the Czech Republic, with a CAGR of +13.5%, saw the highest growth rate of 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 passenger car tyre import price stood at $X per unit in 2021, increasing by 7.1% against the previous year. In general, the import price, however, saw a mild setback. The pace of growth appeared the most rapid in 2020 when the average import price increased by 16%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was the Netherlands ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+1.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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