Bicycle Tire Price in South Korea - 2022
Contents:
- Bicycle Tire Price in South Korea (CIF) - 2022
- Bicycle Tire Price in South Korea (FOB) - 2022
- Bicycle Tire Imports in South Korea
- Bicycle Tire Exports in South Korea
Bicycle Tire Price in South Korea (CIF) - 2022
In 2022, the average bicycle tire import price amounted to $7.4 per unit, growing by 26% against the previous year. Over the period under review, import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Japan ($7.4 per unit) and Vietnam ($7.4 per unit), while the price for China ($7.4 per unit) and Germany ($7.4 per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Bicycle Tire Price in South Korea (FOB) - 2022
In 2022, the average bicycle tire export price amounted to $11 per unit, growing by 1.7% against the previous year. Overall, the export price recorded a strong increase. The growth pace was the most rapid in 2019 an increase of 81%. The export price peaked in 2022 and is expected to retain growth in the immediate term.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($11 per unit), while the average price for exports to Myanmar ($2 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 Vietnam (+26.4%), while the prices for the other major destinations experienced more modest paces of growth.
Bicycle Tire Imports in South Korea
In 2022, overseas purchases of new pneumatic tyres for bicycles decreased by -22.2% to 1.2M units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, total imports indicated a prominent expansion from 2019 to 2022: its volume increased at an average annual rate of +11.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 40%. Over the period under review, imports reached the maximum at 1.5M units in 2021, and then dropped dramatically in the following year.
In value terms, bicycle tire imports shrank to $8.7M in 2022. In general, total imports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +19.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +71.5% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 48% against the previous year. Imports peaked at $8.9M in 2021, and then shrank slightly in the following year.
| Import of Bicycle Tire in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 1.8 | 2.4 | 3.0 | 2.9 | 17.2% |
| Thailand | 0.8 | 1.1 | 1.0 | 1.3 | 17.6% |
| Taiwan (Chinese) | 0.3 | 0.5 | 1.2 | 1.2 | 58.7% |
| Indonesia | 0.9 | 1.4 | 1.6 | 0.9 | 0.0% |
| Germany | 0.7 | 0.9 | 0.9 | 0.8 | 4.6% |
| Vietnam | 0.4 | 0.9 | 0.5 | 0.7 | 20.5% |
| Italy | N/A | 0.1 | 0.2 | 0.5 | 123.6% |
| Others | 0.2 | 0.3 | 0.4 | 0.4 | 26.0% |
| Total | 5.1 | 7.5 | 8.9 | 8.7 | 19.5% |
Top Suppliers of Bicycle Tire to South Korea in 2022:
- China (399.3K units)
- Thailand (181.6K units)
- Taiwan (Chinese) (166.4K units)
- Indonesia (117.0K units)
- Germany (113.3K units)
- Vietnam (88.7K units)
- Italy (70.9K units)
Bicycle Tire Exports in South Korea
In 2022, bicycle tire exports from South Korea surged to 3.9K units, increasing by 299% compared with 2021. Over the period under review, exports saw a significant expansion. Over the period under review, the exports reached the maximum at 7.1K units in 2020; however, from 2021 to 2022, the exports remained at a lower figure.
In value terms, bicycle tire exports skyrocketed to $44K in 2022. Overall, exports showed a significant expansion. The exports peaked at $51K in 2020; however, from 2021 to 2022, the exports failed to regain momentum.
| Export of Bicycle Tire in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Taiwan (Chinese) | N/A | N/A | N/A | 13.7 | 0% |
| China | N/A | 8.0 | 1.2 | 11.6 | 20.4% |
| Vietnam | N/A | 19.7 | N/A | 10.7 | -26.3% |
| Malaysia | N/A | N/A | N/A | 3.4 | 0% |
| United States | 0.4 | 0.1 | N/A | 3.0 | 95.7% |
| Japan | 0.2 | 6.6 | N/A | 1.0 | 71.0% |
| Gambia | N/A | N/A | N/A | 0.7 | 0% |
| Switzerland | N/A | 10.0 | N/A | N/A | 0% |
| Belgium | 5.7 | N/A | N/A | N/A | 0% |
| Vanuatu | N/A | N/A | 6.2 | N/A | 0% |
| Australia | N/A | 4.0 | 3.0 | N/A | -25.0% |
| Others | 9.4 | 2.1 | 0.4 | 0.2 | -72.3% |
| Total | 15.7 | 50.5 | 10.9 | 44.3 | 41.3% |
Top Export Markets for Bicycle Tire from South Korea in 2022:
- Taiwan (Chinese) (1204.0 units)
- China (1027.0 units)
- Vietnam (941.0 units)
- Malaysia (303.0 units)
- United States (264.0 units)
- Japan (89.0 units)
- Gambia (62.0 units)
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