Hungary: Passenger Car Tire Market Overview 2021

Passenger Car Tire Market Size in Hungary

In 2020, the Hungarian passenger car tire market increased by X% to $X, rising for the fourth consecutive year after three years of decline. The market value increased at an average annual rate of +X% from 2007 to 2020; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2011 when the market value increased by X% y-o-y. Over the period under review, the market hit record highs in 2020 and is expected to retain growth in the near future.

Passenger Car Tire Production in Hungary

In value terms, passenger car tire production expanded notably to $X in 2020 estimated in export prices. In general, production continues to indicate strong growth. The pace of growth appeared the most rapid in 2011 with an increase of X% y-o-y. Passenger car tire production peaked in 2020 and is expected to retain growth in the near future.

Passenger Car Tire Exports

Exports from Hungary

Passenger car tire exports from Hungary surged to X units in 2020, picking up by X% on the previous year. In general, exports enjoyed strong growth. The growth pace was the most rapid in 2008 when exports increased by X% against the previous year. Over the period under review, exports hit record highs at X units in 2018; however, from 2019 to 2020, exports remained at a lower figure.

In value terms, passenger car tire exports rose markedly to $X in 2020. Overall, exports showed a resilient expansion. The growth pace was the most rapid in 2008 when exports increased by X% against the previous year. Over the period under review, exports reached the peak figure at $X in 2018; however, from 2019 to 2020, exports remained at a lower figure.

Exports by Country

Germany (X units), the Netherlands (X units) and France (X units) were the main destinations of passenger car tire exports from Hungary, together accounting for X% of total exports. These countries were followed by Italy, Austria, the UK, Spain, the Czech Republic, Turkey, Romania, Poland and Slovakia, which together accounted for a further X 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Austria (+X% per year), while exports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and France ($X) constituted the largest markets for passenger car tire exported from Hungary worldwide, with a combined X% share of total exports. Austria, Italy, the UK, the Czech Republic, Spain, Romania, Poland, Slovakia and Turkey lagged somewhat behind, together comprising a further X (+X% per year) recorded the highest growth rate of 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 passenger car tire export price stood at $X per unit in 2020, dropping by -X% against the previous year. Overall, export price indicated a temperate increase from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, passenger car tire export price decreased by -X% against 2018 indices. The growth pace was the most rapid in 2009 when the average export price increased by X% year-to-year. The export price peaked at $X per unit in 2013; however, from 2014 to 2020, export prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Slovakia ($X per unit), while the average price for exports to Turkey ($X per unit) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Slovakia, while the prices for the other major destinations experienced more modest paces of growth.

Passenger Car Tire Imports

Imports into Hungary

In 2020, imports of tyres for motor cars into Hungary reduced slightly to X units, dropping by -X% against 2019 figures. Overall, total imports indicated prominent growth from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports increased by +X% against 2017 indices. The pace of growth appeared the most rapid in 2008 when imports increased by X% year-to-year. Over the period under review, imports hit record highs at X units in 2016; however, from 2017 to 2020, imports stood at a somewhat lower figure.

In value terms, passenger car tire imports expanded slightly to $X in 2020. In general, total imports indicated a resilient expansion from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports increased by +X% against 2017 indices. The pace of growth was the most pronounced in 2008 with an increase of X% against the previous year. Imports peaked in 2020 and are expected to retain growth in the immediate term.

Imports by Country

Germany (X units), Romania (X units) and the Czech Republic (X units) were the main suppliers of passenger car tire imports to Hungary, together comprising X% of total imports. These countries were followed by Slovakia, Poland, Belgium, Turkey, Serbia, China, Spain, France and Italy, which together accounted for a further X 2007 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey, while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest passenger car tire suppliers to Hungary were Germany ($X), Romania ($X) and Belgium ($X), with a combined X% share of total imports. These countries were followed by the Czech Republic, Slovakia, Poland, Spain, France, Turkey, Italy, Serbia and China, which together accounted for a further X terms of the main suppliers, Turkey 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

In 2020, the average passenger car tire import price amounted to $X per unit, growing by X% against the previous year. Over the last thirteen years, it increased at an average annual rate of +X%. The pace of growth appeared the most rapid in 2012 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2020, import prices stood at a somewhat lower figure.

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

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Belgium, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for tyres for motor cars in the world?

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The countries with the highest volumes of passenger car tire consumption in 2020 were China (553M units), the U.S. (319M units) and India (138M units), together accounting for 48% of global consumption.

What are the largest producers of tyres for motor cars in the world?

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The country with the largest volume of passenger car tire production was China (748M units), accounting for 36% of total volume. Moreover, passenger car tire production in China exceeded the figures recorded by the second-largest producer, the U.S. (193M units), fourfold. The third position in this ranking was occupied by India (137M units), with a 6.6% share.

What are the leading suppliers of tyres for motor cars to Hungary?

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In value terms, the largest passenger car tire suppliers to Hungary were Germany ($99M), Romania ($65M) and Belgium ($58M), together comprising 46% of total imports. The Czech Republic, Slovakia, Poland, Spain, France, Turkey, Italy, Serbia and China lagged somewhat behind, together comprising a further 47%.

What are the leading importers of tyres for motor cars from Hungary?

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In value terms, Germany ($291M), the Netherlands ($193M) and France ($120M) appeared to be the largest markets for passenger car tire exported from Hungary worldwide, together comprising 45% of total exports. These countries were followed by Austria, Italy, the UK, the Czech Republic, Spain, Romania, Poland, Slovakia and Turkey, which together accounted for a further 37%.

What is the average export price for tyres for motor cars in Hungary?

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The average passenger car tire export price stood at $52 per unit in 2020, reducing by -5.2% against the previous year.

What is the average import price for tyres for motor cars in Hungary?

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The average passenger car tire import price stood at $48 per unit in 2020, surging by 9.3% against the previous year.