United Kingdom: 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 the UK

In 2022, the UK market for tyres for agriculture, forestry, construction, industry and other off the road vehicles increased by 1.2% to $X, rising for the second year in a row after two years of decline. In general, consumption, however, saw a relatively flat trend pattern. Consumption of peaked in 2022 and is likely to see gradual growth in the immediate term.

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

Exports from the UK

In 2022, overseas shipments of tyres for agriculture, forestry, construction, industry and other off the road vehicles increased by 1.4% to X units, rising for the second year in a row after two years of decline. Over the period under review, exports, however, recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2018 when exports increased by 43%. Over the period under review, the exports of tyres for agriculture, forestry, construction, industry and other off road vehicles reached the maximum at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X in 2022. In general, exports, however, continue to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2014 with an increase of 25%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Ireland (X units) was the main destination for exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from the UK, accounting for a 38% share of total exports. Moreover, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles to Ireland exceeded the volume sent to the second major destination, Belgium (X units), fourfold. The third position in this ranking was held by France (X units), with an 8.1% share.

From 2012 to 2022, the average annual growth rate of volume to Ireland amounted to -1.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+12.3% per year) and France (+1.0% per year).

In value terms, Ireland ($X) remains the key foreign market for tyres for agriculture, forestry, construction, industry and other off the road vehicles exports from the UK, comprising 33% of total exports. The second position in the ranking was taken by France ($X), with a 12% share of total exports. It was followed by the Netherlands, with a 9.7% share.

From 2012 to 2022, the average annual growth rate of value to Ireland amounted to -3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+4.2% per year) and the Netherlands (-4.7% per year).

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, picking up by 13% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 33% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to the United States ($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 India (+11.6%), 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 the UK

In 2022, the amount of tyres for agriculture, forestry, construction, industry and other off the road vehicles imported into the UK fell slightly to X units, dropping by -4.6% on the year before. The total import volume increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 with an increase of 25% against the previous year. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles expanded modestly to $X in 2022. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 36% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest agricultural, construction and industrial machinery tyre supplier to the UK, with a 47% share of total imports. Moreover, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from China exceeded the figures recorded by the second-largest supplier, India (X units), threefold. Indonesia (X units) ranked third in terms of total imports with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+4.3% per year) and Indonesia (+1.0% per year).

In value terms, India ($X) constituted the largest supplier of tyres for agriculture, forestry, construction, industry and other off the road vehicles to the UK, comprising 25% of total imports. The second position in the ranking was held by China ($X), with an 11% share of total imports. It was followed by Spain, with a 9.9% share.

From 2012 to 2022, the average annual growth rate of value from India amounted to +8.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+8.0% per year) and Spain (-5.0% per year).

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, picking up by 9% against the previous year. Overall, the import price, however, recorded a noticeable setback. The pace of growth appeared the most rapid in 2021 an increase of 12% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Spain ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+25.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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