Sweden: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in Sweden

In 2022, the Swedish truck and bus tyre market increased by 19% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +1.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the immediate term.

Exports of Tyres For Buses Or Lorries

Exports from Sweden

After two years of growth, overseas shipments of tyres for buses or lorries decreased by -4.2% to X units in 2022. In general, total exports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +74.5% against 2016 indices. The pace of growth was the most pronounced in 2021 with an increase of 37% against the previous year. As a result, the exports reached the peak of X units, and then reduced modestly in the following year.

In value terms, truck and bus tyre exports reduced slightly to $X in 2022. Over the period under review, total exports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +90.0% against 2016 indices. The pace of growth was the most pronounced in 2021 when exports increased by 42% against the previous year. As a result, the exports reached the peak of $X, and then declined slightly in the following year.

Exports by Country

Norway (X units), Finland (X units) and Denmark (X units) were the main destinations of truck and bus tyre exports from Sweden, with a combined 87% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +38.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for truck and bus tyre exported from Sweden were Norway ($X), Finland ($X) and Denmark ($X), with a combined 85% share of total exports.

Denmark, with a CAGR of +34.8%, recorded the highest rates of growth with regard to the value of exports, in terms of 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, with an increase of 3.2% against the previous year. Overall, the export price, however, continues to indicate a perceptible setback. The growth pace was the most rapid in 2016 when the average export price increased by 8.9% against the previous year. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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 Poland ($X per unit), while the average price for exports to Germany ($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 Finland (-0.4%), while the prices for the other major destinations experienced a decline.

Imports of Tyres For Buses Or Lorries

Imports into Sweden

Truck and bus tyre imports into Sweden rose markedly to X units in 2022, increasing by 12% on the previous year's figure. The total import volume increased at an average annual rate of +4.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when imports increased by 23% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, truck and bus tyre imports expanded markedly to $X in 2022. The total import value increased at an average annual rate of +1.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when imports increased by 19%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Belgium (X units), Germany (X units) and Italy (X units) were the main suppliers of truck and bus tyre imports to Sweden, together accounting for 41% of total imports. Finland, Poland, China, Thailand, France, Luxembourg, Spain, Turkey, South Korea and Hungary lagged somewhat behind, together accounting for a further 45%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +90.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) constituted the largest supplier of tyres for buses or lorries to Sweden, comprising 30% of total imports. The second position in the ranking was taken by Germany ($X), with a 13% share of total imports. It was followed by Italy, with a 6.6% share.

From 2012 to 2022, the average annual growth rate of value from Belgium totaled +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+4.6% per year) and Italy (+43.7% per year).

Import Prices by Country

In 2022, the average truck and bus tyre import price amounted to $X per unit, picking up by 2.8% against the previous year. Over the period under review, the import price, however, recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2017 an increase of 8.1%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per unit), while the price for Hungary ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+3.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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