Serbia: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in Serbia

In 2022, the Serbian truck and bus tyre market decreased by X% to $X, falling for the fourth year in a row after two years of growth. In general, consumption recorded a noticeable downturn. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Production of Tyres For Buses Or Lorries in Serbia

In value terms, truck and bus tyre production shrank modestly to $X in 2022 estimated in export price. Overall, production, however, recorded a strong increase. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Exports of Tyres For Buses Or Lorries

Exports from Serbia

In 2022, truck and bus tyre exports from Serbia reduced to X units, dropping by X% against the previous year. Over the period under review, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. The exports peaked at X units in 2021, and then dropped modestly in the following year.

In value terms, truck and bus tyre exports rose sharply to $X in 2022. Overall, exports, however, saw a buoyant expansion. The pace of growth was the most pronounced in 2013 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Poland (X units), the UK (X units) and Romania (X units) were the main destinations of truck and bus tyre exports from Serbia, together accounting for X% of total exports. Turkey, Hungary, Spain, France, Italy, Germany, Bulgaria, Ukraine and Russia 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 Germany (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), the UK ($X) and Turkey ($X) appeared to be the largest markets for truck and bus tyre exported from Serbia worldwide, with a combined X% share of total exports. Romania, Hungary, Italy, France, Spain, Germany, Russia, Bulgaria and Ukraine lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Ukraine, with a CAGR of X%, recorded the highest growth rate of 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, picking up by X% against the previous year. In general, the export price, however, continues to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2018 an increase of X%. The export price peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

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

Imports of Tyres For Buses Or Lorries

Imports into Serbia

After two years of decline, purchases abroad of tyres for buses or lorries increased by X% to X units in 2022. In general, total imports indicated temperate 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, imports decreased by X% against 2019 indices. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, truck and bus tyre imports rose markedly to $X in 2022. Overall, total imports indicated a measured 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, imports increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2018 with an increase of X%. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, China (X units) constituted the largest truck and bus tyre supplier to Serbia, accounting for a X% share of total imports. Moreover, truck and bus tyre imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), twofold. South Korea (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 stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and South Korea (X% per year).

In value terms, China ($X) constituted the largest supplier of tyres for buses or lorries to Serbia, comprising X% of total imports. The second position in the ranking was held by Turkey ($X), with a X% share of total imports. It was followed by South Korea, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and South Korea (X% per year).

Import Prices by Country

In 2022, the average truck and bus tyre import price amounted to $X per unit, growing by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by X%. The import price peaked at $X per unit in 2014; however, from 2015 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 Luxembourg ($X per unit), while the price for Romania ($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 more modest paces of growth.

Source: IndexBox Platform

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