Asia: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in Asia

The Asian truck and bus tyre market was finally on the rise to reach $X in 2022, after two years of decline. In general, consumption, however, saw a pronounced contraction. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Tyres For Buses Or Lorries in Asia

In value terms, truck and bus tyre production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, production attained 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 in Asia

In 2022, shipments abroad of tyres for buses or lorries increased by X% to X units, rising for the third year in a row after two years of decline. Total exports indicated a prominent increase 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 2020 with an increase of X%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, truck and bus tyre exports soared to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

China was the key exporting country with an export of about X units, which recorded X% of total exports. It was distantly followed by Thailand (X units), achieving a X% share of total exports. Turkey (X units), Vietnam (X units), Japan (X units), India (X units), South Korea (X units) and Malaysia (X units) followed a long way behind the leaders.

Exports from China increased at an average annual rate of X% from 2012 to 2022. At the same time, Vietnam (X%), Malaysia (X%), Thailand (X%), Turkey (X%) and India (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. By contrast, Japan (X%) and South Korea (X%) illustrated a downward trend over the same period. While the share of Thailand (X p.p.), China (X p.p.) and Vietnam (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Korea (X p.p.) and Japan (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest truck and bus tyre supplier in Asia, comprising X% of total exports. The second position in the ranking was held by Thailand ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

In China, truck and bus tyre exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Thailand (X% per year) and Japan (X% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per unit, picking up by X% against the previous year. Over the period under review, the export price, however, showed a perceptible contraction. The growth pace was the most rapid in 2018 an increase of X% against the previous year. The level of export peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Tyres For Buses Or Lorries

Imports in Asia

In 2022, truck and bus tyre imports in Asia contracted to X units, falling by X% compared with 2021. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The volume of import peaked at X units in 2021, and then declined in the following year.

In value terms, truck and bus tyre imports amounted to $X in 2022. In general, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

The purchases of the twelve major importers of tyres for buses or lorries, namely the Philippines, the United Arab Emirates, Turkey, Iraq, Malaysia, Indonesia, Pakistan, South Korea, Iran, Japan, Taiwan (Chinese) and Kazakhstan, represented more than two-thirds of total import. Vietnam (X units) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Indonesia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest truck and bus tyre importing markets in Asia were the United Arab Emirates ($X), Turkey ($X) and Indonesia ($X), together comprising X% of total imports.

In terms of the main importing countries, Indonesia, with a CAGR of X%, saw 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 import price in Asia stood at $X per unit in 2022, surging by X% against the previous year. Overall, the import price, however, continues to indicate a mild descent. The pace of growth appeared the most rapid in 2018 an increase of X%. The level of import peaked at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :