Norway: Tyre Market 2024

Tyre Market Size in Norway

In 2022, the Norwegian tyre market increased by X% to $X, rising for the second year in a row after two years of decline. Overall, consumption continues to indicate a relatively flat trend pattern. Tyre consumption peaked in 2022 and is expected to retain growth in the immediate term.

Tyre Production in Norway

In value terms, tyre production soared to $X in 2022 estimated in export price. In general, production, however, showed a perceptible decline. The most prominent rate of growth was recorded in 2020 with an increase of X%. Tyre production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Tyre Exports

Exports from Norway

In 2022, shipments abroad of tyres increased by X% to X units, rising for the third year in a row after two years of decline. Over the period under review, total exports indicated pronounced growth 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 2019 indices. The pace of growth appeared the most rapid in 2015 with an increase of X%. The exports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, tyre exports declined remarkably to $X in 2022. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of $X, and then declined sharply in the following year.

Exports by Country

Sweden (X units) was the main destination for tyre exports from Norway, accounting for a X% share of total exports. Moreover, tyre exports to Sweden exceeded the volume sent to the second major destination, Denmark (X units), fourfold. Germany (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sweden was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (X% per year) and Germany (X% per year).

In value terms, Sweden ($X) remains the key foreign market for tyres exports from Norway, comprising X% of total exports. The second position in the ranking was held by Denmark ($X), with a X% share of total exports. It was followed by Finland, with an X% share.

From 2012 to 2022, the average annual growth rate of value to Sweden was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (X% per year) and Finland (X% per year).

Export Prices by Country

In 2022, the average tyre export price amounted to $X per unit, shrinking by X% against the previous year. Over the period under review, the export price continues to indicate a pronounced decline. The growth pace was the most rapid in 2021 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per unit, and then dropped notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Iceland ($X per unit), while the average price for exports to Georgia ($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 Iceland (X%), while the prices for the other major destinations experienced a decline.

Tyre Imports

Imports into Norway

In 2022, approx. X units of tyres were imported into Norway; surging by X% on 2021 figures. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, tyre imports expanded rapidly to $X in 2022. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of tyre to Norway, with a X% share of total imports. Moreover, tyre imports from China exceeded the figures recorded by the second-largest supplier, Finland (X units), twofold. Germany (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 China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Finland (X% per year) and Germany (X% per year).

In value terms, China ($X), Finland ($X) and Germany ($X) were the largest tyre suppliers to Norway, with a combined X% share of total imports. France, Russia, Japan, Slovakia, Poland, South Korea, India, the Czech Republic, Turkey and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Turkey, with a CAGR of X%, recorded 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

The average tyre import price stood at $X per unit in 2022, surging by X% against the previous year. Over the period under review, the import price, however, recorded a mild downturn. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. 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.

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 France ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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