Motorcycle Tire Price in South Korea - 2022
Contents:
- Motorcycle Tire Price in South Korea (FOB) - 2022
- Motorcycle Tire Price in South Korea (CIF) - 2022
- Motorcycle Tire Exports in South Korea
- Motorcycle Tire Imports in South Korea
Motorcycle Tire Price in South Korea (FOB) - 2022
In 2022, the average motorcycle tire export price amounted to $45 per unit, rising by 8.9% against the previous year. Overall, the export price enjoyed temperate growth. The pace of growth was the most pronounced in 2018 when the average export price increased by 85% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.
Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Philippines ($45 per unit) and India ($45 per unit), while the average price for exports to Canada ($45 per unit) and Australia ($45 per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Nicaragua (+6.3%), while the prices for the other major destinations experienced more modest paces of growth.
Motorcycle Tire Price in South Korea (CIF) - 2022
In 2022, the average motorcycle tire import price amounted to $42 per unit, increasing by 20% against the previous year. Over the last decade, it increased at an average annual rate of +2.5%. As a result, import price reached 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 ($42 per unit) and Spain ($42 per unit), while the price for Thailand ($42 per unit) and Germany ($42 per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Motorcycle Tire Exports in South Korea
In 2022, shipments abroad of new pneumatic tyres for motorcycles decreased by -6.5% to 851K units, falling for the second year in a row after two years of growth. The total export volume increased at an average annual rate of +5.0% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 28%. As a result, the exports reached the peak of 942K units. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, motorcycle tire exports amounted to $38M in 2022. In general, total exports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +14.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +49.9% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 35%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.
| Export of Motorcycle Tire in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 14.2 | 15.6 | 23.1 | 20.9 | 13.8% |
| Germany | 4.3 | 4.1 | 6.0 | 7.1 | 18.2% |
| Canada | 0.6 | 0.6 | 0.8 | 1.4 | 32.6% |
| Japan | 0.8 | 1.0 | 1.0 | 1.2 | 14.5% |
| Nicaragua | 0.9 | 1.0 | 0.9 | 0.9 | 0.0% |
| Australia | 0.3 | 0.4 | 0.4 | 0.6 | 26.0% |
| Philippines | 0.3 | 0.3 | 0.4 | 0.6 | 26.0% |
| India | 0.2 | 0.8 | 0.3 | 0.6 | 44.2% |
| Others | 3.7 | 3.9 | 4.4 | 4.7 | 8.3% |
| Total | 25.4 | 27.8 | 37.4 | 38.1 | 14.5% |
Top Export Markets for Motorcycle Tire from South Korea in 2022:
- United States (467.8K units)
- Germany (157.8K units)
- Canada (30.2K units)
- Japan (27.5K units)
- Nicaragua (20.1K units)
- India (14.3K units)
- Australia (13.9K units)
- Philippines (13.6K units)
Motorcycle Tire Imports in South Korea
In 2022, after three years of growth, there was significant decline in purchases abroad of new pneumatic tyres for motorcycles, when their volume decreased by -7.2% to 391K units. Overall, total imports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +11.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +37.5% against 2019 indices. The growth pace was the most rapid in 2021 when imports increased by 33%. As a result, imports attained the peak of 421K units, and then fell in the following year.
In value terms, motorcycle tire imports rose notably to $16M in 2022. Over the period under review, total imports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +19.0% 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 +68.7% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 26% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.
| Import of Motorcycle Tire in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 1.5 | 2.9 | 5.0 | 5.3 | 52.3% |
| China | 2.8 | 2.5 | 3.1 | 3.1 | 3.5% |
| Germany | 1.9 | 1.5 | 1.9 | 2.2 | 5.0% |
| Thailand | 0.7 | 0.9 | 1.3 | 1.5 | 28.9% |
| Spain | 0.3 | 1.2 | 0.6 | 1.3 | 63.0% |
| Japan | 0.7 | 0.6 | 0.8 | 0.7 | 0.0% |
| Taiwan (Chinese) | 0.7 | 0.6 | 0.4 | 0.5 | -10.6% |
| United States | 0.5 | 0.5 | 0.5 | 0.5 | 0.0% |
| Others | 0.7 | 0.9 | 1.0 | 1.2 | 19.7% |
| Total | 9.7 | 11.6 | 14.6 | 16.3 | 18.9% |
Top Suppliers of Motorcycle Tire to South Korea in 2022:
- Indonesia (126.7K units)
- China (74.9K units)
- Germany (51.8K units)
- Thailand (36.7K units)
- Spain (31.1K units)
- Japan (15.7K units)
- United States (12.5K units)
- Taiwan (Chinese) (12.2K units)
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