Hong Kong SAR, China - Tyres - Market Analysis, Forecast, Size, Trends and Insights
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View PricingTyre Price in Hong Kong SAR - 2023
Contents:
- Tyre Price in Hong Kong SAR (CIF) - 2022
- Tyre Price in Hong Kong SAR (FOB) - 2022
- Tyre Imports in Hong Kong SAR
- Tyre Exports in Hong Kong SAR
Tyre Price in Hong Kong SAR (CIF) - 2022
The average tyre import price stood at $89 per unit in 2022, growing by 12% against the previous year. Overall, the import price, however, showed a noticeable slump. The import price peaked at $141 per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($152 per unit), while the price for Taiwan (Chinese) ($32 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+19.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Tyre Price in Hong Kong SAR (FOB) - 2022
The average tyre export price stood at $63 per unit in 2022, with an increase of 2.1% against the previous year. In general, the export price, however, recorded a perceptible setback. The growth pace was the most rapid in 2018 an increase of 69%. The export price peaked at $98 per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($427 per unit), while the average price for exports to Taiwan (Chinese) ($33 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 (+18.2%), while the prices for the other major destinations experienced mixed trend patterns.
Tyre Imports in Hong Kong SAR
In 2022, purchases abroad of tyres decreased by -17% to 1.9M units, falling for the second year in a row after two years of growth. Over the period under review, imports saw a abrupt decline. The most prominent rate of growth was recorded in 2020 when imports increased by 3% against the previous year. As a result, imports reached the peak of 2.4M units. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, tyre imports reduced to $171M in 2022. In general, imports recorded a deep setback. The smallest decline of -4.3% was in 2021. Over the period under review, imports attained the maximum at $232M in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.
| Import of Tyre in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 58.1 | 31.7 | 27.9 | 30.8 | -19.1% |
| China | 31.4 | 29.8 | 30.1 | 29.2 | -2.4% |
| Thailand | 15.2 | 14.9 | 17.9 | 20.0 | 9.6% |
| Netherlands | 13.4 | 13.6 | 20.8 | 15.8 | 5.6% |
| Italy | 5.3 | 4.0 | 9.4 | 12.6 | 33.5% |
| Germany | 23.4 | 18.6 | 10.9 | 9.1 | -27.0% |
| South Korea | 6.0 | 6.7 | 7.0 | 7.7 | 8.7% |
| Spain | 5.1 | 6.0 | 6.8 | 6.2 | 6.7% |
| Indonesia | 6.4 | 6.3 | 6.7 | 5.9 | -2.7% |
| Belgium | 2.7 | 4.2 | 4.0 | 5.1 | 23.6% |
| United Arab Emirates | 10.4 | 10.1 | 8.1 | 3.1 | -33.2% |
| Oman | 0.4 | 0.9 | 1.5 | 2.0 | 71.0% |
| Taiwan (Chinese) | 1.2 | 1.0 | 1.2 | 1.3 | 2.7% |
| Others | 52.4 | 45.2 | 32.4 | 22.6 | -24.4% |
| Total | 232 | 193 | 185 | 171 | -9.7% |
Top Suppliers of Tyre to Hong Kong SAR in 2022:
- China (398.2K units)
- Japan (354.5K units)
- Thailand (204.8K units)
- Indonesia (159.3K units)
- Netherlands (123.7K units)
- Germany (90.5K units)
- Italy (82.6K units)
- South Korea (81.6K units)
- Spain (71.5K units)
- Taiwan (Chinese) (40.8K units)
- Belgium (37.3K units)
- Oman (33.6K units)
- United Arab Emirates (32.4K units)
Tyre Exports in Hong Kong SAR
In 2022, after three years of growth, there was decline in overseas shipments of tyres, when their volume decreased by -4.4% to 1,000K units. The total export volume increased at an average annual rate of +8.9% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when exports increased by 28% against the previous year. The exports peaked at 1M units in 2021, and then fell slightly in the following year.
In value terms, tyre exports declined slightly to $63M in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 4.7% against the previous year. As a result, the exports reached the peak of $64M, and then dropped in the following year.
| Export of Tyre in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 24.7 | 32.4 | 31.0 | 23.8 | -1.2% |
| Macao SAR | 8.9 | 8.5 | 8.4 | 7.9 | -3.9% |
| Taiwan (Chinese) | 6.7 | 5.4 | 6.7 | 7.5 | 3.8% |
| Cambodia | 3.3 | 2.1 | 2.1 | 3.2 | -1.0% |
| Singapore | 1.8 | 1.5 | 2.1 | 3.1 | 19.9% |
| Others | 17.0 | 11.2 | 13.8 | 17.1 | 0.2% |
| Total | 62.3 | 61.1 | 64.0 | 62.5 | 0.1% |
Top Export Markets for Tyre from Hong Kong SAR in 2022:
- China (559.6K units)
- Taiwan (Chinese) (227.9K units)
- Macao SAR (102.8K units)
- Cambodia (29.8K units)
- Singapore (18.9K units)
This report provides an in-depth analysis of the tyre market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 22111100 - New pneumatic rubber tyres for motor cars (including for racing cars)
- Prodcom 22111355 - New pneumatic rubber tyres for buses or lorries with a load index . .121
- Prodcom 22111357 - New pneumatic rubber tyres for buses or lorries with a load index > .121
- Prodcom 22111370 - New pneumatic rubber tyres for aircraft
- Prodcom 22111200 - New pneumatic tyres, of rubber, of a kind used on motorcycles or bicycles
- Prodcom 22111400 - Agrarian tyres, other new pneumatic tyres, of rubber
Country coverage:
- Hong Kong SAR
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Hong Kong SAR, China
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
468
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The tyre industry has witnessed significant growth over the years, driven by the increasing demand for automobiles and the expanding global automotive industry. As a result, tire manufacturers around the world are constantly looking to tap into the best import markets for tyres to ensure their products reach a wider audience. The IndexBox Market Intelligence Platform provides comprehensive and up-to-date data on global trade, including import values, market trends, and key statistics. Based on the data sourced from the IndexBox platform, we have compiled a list of the top 10 countries with the highest import values for tyres in 2022. The United States takes the top spot with an import value of $18.7 billion in 2022, followed by Germany and France. Emerging economies like Mexico, Canada, and Australia also contribute significantly to the import market for tyres. The IndexBox market intelligence platform delivers valuable insights into these markets, helping manufacturers and traders make informed decisions and capitalize on the opportunities available.
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