Kuwait - Tyres - Market Analysis, Forecast, Size, Trends and Insights
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View PricingTyre Price in Kuwait - 2021
Contents:
- Tyre Price in Kuwait (CIF) - 2022
- Tyre Price in Kuwait (FOB) - 2022
- Tyre Imports in Kuwait
- Tyre Exports in Kuwait
Tyre Price in Kuwait (CIF) - 2022
In 2022, the average tyre import price amounted to $65 per unit, rising by 2.4% against the previous year. Overall, the import price, however, continues to indicate a perceptible decrease. The pace of growth appeared the most rapid in 2014 an increase of 9.4%. Over the period under review, average import prices reached the peak figure at $95 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 India ($91 per unit), while the price for China ($47 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+2.0%), while the prices for the other major suppliers experienced mixed trend patterns.
Tyre Price in Kuwait (FOB) - 2022
In 2022, the average tyre export price amounted to $88 per unit, picking up by 13% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 84%. As a result, the export price reached the peak level of $135 per unit. From 2017 to 2022, the average export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($174 per unit), while the average price for exports to Benin ($9.2 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 Jordan (+15.5%), while the prices for the other major destinations experienced more modest paces of growth.
Tyre Imports in Kuwait
In 2022, approx. 2.5M units of tyres were imported into Kuwait; with a decrease of -10.7% on 2021. In general, imports recorded a perceptible slump. The most prominent rate of growth was recorded in 2021 when imports increased by 29% against the previous year. Imports peaked at 2.8M units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.
In value terms, tyre imports contracted to $163M in 2022. Overall, imports saw a noticeable slump. The pace of growth was the most pronounced in 2021 when imports increased by 23% against the previous year. Over the period under review, imports attained the maximum at $185M in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.
| Import of Tyre in Kuwait (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 69.4 | 60.6 | 61.2 | 58.7 | -5.4% |
| Japan | 42.0 | 30.2 | 33.3 | 26.0 | -14.8% |
| South Korea | 13.9 | 8.6 | 10.3 | 10.0 | -10.4% |
| India | 7.0 | 5.9 | 8.4 | 7.1 | 0.5% |
| Thailand | 7.7 | 6.4 | 7.5 | 6.6 | -5.0% |
| United Arab Emirates | 3.1 | 1.9 | 2.2 | 4.4 | 12.4% |
| United States | 6.7 | 5.2 | 5.7 | 3.9 | -16.5% |
| Vietnam | 3.9 | 4.0 | 3.6 | 3.6 | -2.6% |
| Others | 31.6 | 22.5 | 46.0 | 42.7 | 10.6% |
| Total | 185 | 145 | 178 | 163 | -4.1% |
Top Suppliers of Tyre to Kuwait in 2022:
- China (1247.5K units)
- Japan (311.7K units)
- South Korea (145.3K units)
- Thailand (92.6K units)
- United Arab Emirates (78.7K units)
- India (78.3K units)
- Vietnam (45.9K units)
- United States (32.6K units)
Tyre Exports in Kuwait
For the third consecutive year, Kuwait recorded decline in overseas shipments of tyres, which decreased by -9.3% to 20K units in 2022. In general, exports saw a deep downturn. The smallest decline of -2.1% was in 2021. The exports peaked at 30K units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
In value terms, tyre exports rose modestly to $1.7M in 2022. Over the period under review, exports saw a abrupt decline. Over the period under review, the exports reached the maximum at $2.9M in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
| Export of Tyre in Kuwait (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Free Zones | 687 | 567 | 486 | 559 | -6.6% |
| Qatar | 395 | 338 | 343 | 407 | 1.0% |
| Saudi Arabia | 406 | 292 | 155 | 150 | -28.2% |
| Jordan | 223 | 166 | 112 | 117 | -19.3% |
| Hong Kong SAR | 219 | 104 | 45.3 | 71.8 | -31.0% |
| United States | 25.8 | 97.1 | 67.5 | 65.5 | 36.4% |
| Bahrain | 14.9 | 21.7 | 66.0 | 56.5 | 55.9% |
| Australia | 220 | 39.1 | 60.9 | 53.5 | -37.6% |
| Singapore | 144 | 50.3 | 81.6 | 52.7 | -28.5% |
| Netherlands | 98.4 | 32.0 | 45.1 | 38.3 | -27.0% |
| Egypt | 114 | 32.9 | 15.7 | 17.2 | -46.8% |
| Benin | 1.9 | 4.5 | 7.8 | 5.4 | 41.6% |
| Others | 385 | 262 | 190 | 130 | -30.4% |
| Total | 2,934 | 2,006 | 1,676 | 1,724 | -16.2% |
Top Export Markets for Tyre from Kuwait in 2022:
- Free Zones (5.1K units)
- Qatar (4.3K units)
- Saudi Arabia (2.3K units)
- United States (1.9K units)
- Netherlands (0.9K units)
- Jordan (0.8K units)
- Australia (0.7K units)
- Bahrain (0.6K units)
- Hong Kong SAR (0.6K units)
- Benin (0.6K units)
- Singapore (0.3K units)
- Egypt (0.1K units)
This report provides an in-depth analysis of the tyre market in Kuwait. 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:
- Kuwait
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Kuwait
- 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
-
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
-
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
-
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
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