Tyres for passenger cars market in Hungary

Earlier Report Observations

The Hungarian passenger car tyre market in value terms showed significant variability between 2018 and 2024. In 2018, the entry of Hankook's new tyre brand Laufenn into the European market increased product availability and competition, contributing to market growth the following year when the market size reached 431 million US dollars. After a contraction to 292 million US dollars in 2020, the market recovered to 432 million US dollars in 2021.

The market peaked at 470 million US dollars in 2022, primarily due to rising tyre prices caused by increased labor and energy costs, as well as EU sanctions that banned imports of synthetic rubber from Russia, which tightened supply. Concurrently, consumers extended tyre life by an average of 20% to reduce expenses, which moderated volume demand but was offset by higher prices in value terms. Subsequently, the market size fell to 360 million US dollars in 2023 and further to 228 million US dollars in 2024.

Production tyres for passenger cars in Hungary

In value, 2018-2021, M $ US

Hungary's passenger car tire production rebounded after two years of decline. In 2021, output reached 1,481 million US dollars, marking a significant 30.3% increase from the previous year. Looking at the period from 2018 to 2021, production grew by 16.4%, with an average annual growth rate of 5.2%. The lowest point was in 2020, at 1,137 million US dollars, while the sharpest drop occurred in 2019, with a decline of 9.2%.

Annual dynamics of production in Hungary in value, 2018-2021, M $ US

In kind, 2018-2021, K unit

Hungary's passenger car tire production recovered following a two-year downturn. In 2021, the country produced 28,959 thousand units, showing a 21.1% rise compared to the year before. From 2018 to 2021, production expanded by 12.9%, translating to an average annual growth of 4.1%. The lowest output was recorded in 2020, at 23,908 thousand units, with the most notable decrease happening in 2019, at 4.1%.

Annual dynamics of production in Hungary in kind, 2018-2021, K unit

Exports tyres for passenger cars from Hungary

Exports in kind, K unit

Hungary's passenger car tire exports grew for the second year in a row. In 2021, exports hit 29,948 thousand units, reflecting a robust 16.0% increase from the prior year. Over the 2018-2021 period, exports rose by 14.3%, equivalent to an annualized rate of 4.6%. The lowest level was in 2019, at 21,833 thousand units, which also saw the largest decline of 16.7%. In contrast, 2020 experienced the biggest jump, with an 18.3% surge.

Annual dynamics of product's exports from Hungary in kind, 2018-2021, K unit

From 2018 to 2021, Hungary's passenger car tire export market was highly diversified. Germany accounted for 19.9% of exports in kind, the Netherlands for 13.9%, and France for 8.7%, together making up only 42.5% of total flows. The remaining 57.5% was distributed among numerous other countries, highlighting a broad partner landscape.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Hungary in kind, 2018-2021

Exports in value, M $ US

Hungary's passenger car tire export value continued to climb for the second consecutive year. In 2021, exports totaled 1,590 million US dollars, representing a solid 19.5% gain from 2020. Between 2018 and 2021, export value increased by 11.6%, corresponding to an annualized growth rate of 3.7%. The lowest point was in 2019, at 1,187 million US dollars, which also recorded the steepest decline of 16.7%.

Annual dynamics of product's exports from Hungary in value, 2018-2021, M $ US

During 2018-2021, Hungary's passenger car tire export value was spread across a wide range of partners. Germany contributed 20.0% of exports in value terms, the Netherlands 13.2%, and France 8.4%, collectively representing just 41.7% of total flows. The majority, 58.3%, came from many other countries, underscoring the market's diversity.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Hungary in value, 2018-2021

Imports tyres for passenger cars to Hungary

Imports in kind, K unit

Hungary's passenger car tire import volume fell for the third year in a row. In 2021, imports amounted to 9,462 thousand units, indicating a modest 5.8% decrease from 2020. From 2018 to 2021, imports dropped by 10.8%, which equates to an average annual decline of 3.7%.

Annual dynamics of product's imports to Hungary in kind, 2018-2021, K unit

Between 2018 and 2021, Hungary's passenger car tire imports in kind were sourced from a broad array of countries. Germany made up 20.2% of imports in kind, Romania 12.7%, and Czechia 11.2%, together accounting for only 44.1% of total flows, with the rest coming from various other partners.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Hungary in kind, 2018-2021

Imports in value, M $ US

Hungary's passenger car tire import value rose for the second consecutive year. In 2021, imports reached 541 million US dollars, showing a solid 11.4% increase over the previous year. Over the 2018-2021 period, import value grew by 16.3%, translating to an annualized rate of 5.2%. The lowest value was in 2019, at 462 million US dollars, which also saw the largest decline of 0.7%.

Annual dynamics of product's imports to Hungary in value, 2018-2021, M $ US

The structure of Hungary's passenger car tire imports in value terms from 2018 to 2021 was notably diversified. Germany represented 22.1% of imports in value terms, Romania 11.6%, and Belgium 9.2%, together comprising just 42.9% of total flows. No single country dominated, reflecting a balanced and varied import landscape.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Hungary in value, 2018-2021