Finland: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in Finland

The Finnish truck and bus tyre market reduced notably to $X in 2022, with a decrease of X% against the previous year. Overall, consumption saw a deep setback. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Production of Tyres For Buses Or Lorries in Finland

In value terms, truck and bus tyre production soared to $X in 2022 estimated in export price. In general, production, however, saw a sharp reduction. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Exports of Tyres For Buses Or Lorries

Exports from Finland

For the third year in a row, Finland recorded growth in shipments abroad of tyres for buses or lorries, which increased by X% to X units in 2022. In general, exports, however, saw a noticeable decline. The growth pace was the most rapid in 2015 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, truck and bus tyre exports skyrocketed to $X in 2022. Overall, exports, however, continue to indicate a abrupt slump. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Sweden (X units), Norway (X units) and Canada (X units) were the main destinations of truck and bus tyre exports from Finland, together accounting for X% of total exports.

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

In value terms, Sweden ($X), Norway ($X) and Canada ($X) appeared to be the largest markets for truck and bus tyre exported from Finland worldwide, with a combined X% share of total exports. The United States, Estonia, Germany, the Czech Republic, Russia, France, Poland, Switzerland and Italy lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Estonia, with a CAGR of X%, recorded the highest rates of growth with regard to 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

In 2022, the average truck and bus tyre export price amounted to $X per unit, dropping by X% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average export price increased by X%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Estonia ($X per unit), while the average price for exports to the Czech Republic ($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 Poland (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tyres For Buses Or Lorries

Imports into Finland

In 2022, imports of tyres for buses or lorries into Finland fell slightly to X units, reducing by X% on the previous year's figure. Over the period under review, total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X units in 2021, and then dropped in the following year.

In value terms, truck and bus tyre imports expanded notably to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Russia (X units) constituted the largest supplier of truck and bus tyre to Finland, accounting for a X% share of total imports. Moreover, truck and bus tyre imports from Russia exceeded the figures recorded by the second-largest supplier, China (X units), threefold. The third position in this ranking was held by Sweden (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Russia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Sweden (X% per year).

In value terms, the largest truck and bus tyre suppliers to Finland were Sweden ($X), Russia ($X) and Belgium ($X), together comprising X% of total imports. Vietnam, China, South Korea, Thailand, the Netherlands, Poland, Spain, Estonia, Germany and Slovakia lagged somewhat behind, together comprising a further X%.

Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average truck and bus tyre import price amounted to $X per unit, increasing by X% against the previous year. In general, the import price, however, continues to indicate a perceptible contraction. Over the period under review, average import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per unit), while the price for Russia ($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 (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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