Updated Aug 25, 2022 21:22

Market for Agricultural, Construction and Industrial Machinery Tire in Germany

Market Overview
The German market for tyres for agriculture, forestry, construction, industry and other off the road vehicles surged to $ in , growing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption posted a mild increase. Over the period under review, the market attained the maximum level in and is expected to retain growth in the near future.

In value terms, production of tyres for agriculture, forestry, construction, industry and other off the road vehicles rose remarkably to $ in estimated in export price. Overall, production, however, showed a abrupt contraction. Production of peaked at $ in 2007; however, from 2008 to , production remained at a lower figure.


Consumption
In , consumption of tyres for agriculture, forestry, construction, industry and other off the road vehicles decreased by -% to units for the first time since 2019, thus ending a two-year rising trend. Overall, consumption, however, saw a relatively flat trend pattern. Consumption of peaked at units in , and then reduced in the following year.

The size of the market for tyres for agriculture, forestry, construction, industry and other off the road vehicles in Germany contracted slightly to $ in , with a decrease of -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, continues to indicate slight growth. Over the period under review, the market hit record highs at $ in , and then reduced modestly in the following year.


Market Forecast
The market for agricultural, construction and industrial machinery tire is expected to start a downward consumption trend over the next eight years. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -% for the eight-year period from to , which is projected to depress the market volume to units by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Agricultural, construction and industrial machinery tire market in Germany consists almost entirely of imported products. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Germany remains a net importer of agricultural, construction and industrial machinery tire; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.