Luxembourg: 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 Luxembourg

The Luxembourg market for tyres for agriculture, forestry, construction, industry and other off the road vehicles shrank significantly to $X in 2022, which is down by X% against the previous year. Over the period under review, consumption saw a abrupt downturn. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Production of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles in Luxembourg

In value terms, production of tyres for agriculture, forestry, construction, industry and other off the road vehicles fell to $X in 2022 estimated in export price. Overall, production recorded a perceptible descent. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, production of tyres for agriculture, forestry, construction, industry and other off road vehicles attained the peak level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

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

Exports from Luxembourg

In 2022, overseas shipments of tyres for agriculture, forestry, construction, industry and other off the road vehicles increased by X% to X units, rising for the second consecutive year after two years of decline. Overall, total exports indicated a tangible 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, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles soared to $X in 2022. In general, total exports indicated a slight increase from 2012 to 2022: its value 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, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports of tyres for agriculture, forestry, construction, industry and other off road vehicles attained the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

Germany (X units), Sweden (X units) and the UK (X units) were the main destinations of exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Luxembourg, together comprising X% of total exports. South Africa, France, the United States, Turkey, the Netherlands, Italy, Poland, Spain, Belgium and Australia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Sweden ($X) and South Africa ($X) appeared to be the largest markets for agricultural, construction and industrial machinery tyre exported from Luxembourg worldwide, with a combined X% share of total exports. The United States, the UK, France, Poland, the Netherlands, Spain, Turkey, Italy, Australia and Belgium lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Spain, 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 export price for tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X per unit, with an increase of X% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average export price increased by X% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat 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 the United States ($X per unit), while the average price for exports to the UK ($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 the UK (X%), 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 Luxembourg

In 2022, purchases abroad of tyres for agriculture, forestry, construction, industry and other off the road vehicles increased by X% to X units, rising for the second year in a row after two years of decline. Overall, imports enjoyed a strong increase. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports of tyres for agriculture, forestry, construction, industry and other off road vehicles reached the peak figure at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles contracted modestly to $X in 2022. Over the period under review, total imports indicated mild growth from 2012 to 2022: its value 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 was the most pronounced in 2014 when imports increased by X%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports of remained at a lower figure.

Imports by Country

In 2022, Belgium (X units) constituted the largest agricultural, construction and industrial machinery tyre supplier to Luxembourg, with a X% share of total imports. Moreover, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Belgium exceeded the figures recorded by the second-largest supplier, Germany (X units), sevenfold. The Netherlands (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Belgium amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and the Netherlands (X% per year).

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

From 2012 to 2022, the average annual growth rate of value from Belgium amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Germany (X% per year).

Import Prices by Country

In 2022, the average import price for tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X per unit, falling by X% against the previous year. Over the period under review, the import price continues to indicate a abrupt decline. The growth pace was the most rapid in 2016 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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