Asia-Pacific: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in Asia-Pacific

In 2022, the Asia-Pacific truck and bus tyre market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. Over the period under review, consumption, however, showed a noticeable downturn. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Tyres For Buses Or Lorries in Asia-Pacific

In value terms, truck and bus tyre production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Exports of Tyres For Buses Or Lorries

Exports in Asia-Pacific

In 2022, overseas shipments of tyres for buses or lorries increased by X% to X units, rising for the third consecutive year after two years of decline. Total exports indicated a buoyant 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 most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the immediate term.

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 throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

In 2022, China (X units) represented the major exporter of tyres for buses or lorries, mixing up X% of total exports. It was distantly followed by Thailand (X units), creating a X% share of total exports. 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%) and India (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. By contrast, Japan (X%) and South Korea (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Thailand, China and Vietnam increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual growth rate of value in China stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (X% per year) and Japan (X% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per unit, picking up by X% against the previous year. Overall, the export price, however, continues to indicate a perceptible decrease. The pace of growth appeared the most rapid in 2018 when the export price increased by X% against the previous year. The level of export peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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-Pacific

In 2022, approx. X units of tyres for buses or lorries were imported in Asia-Pacific; falling by X% against the year before. The total import volume 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 pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. The volume of import peaked at X units in 2021, and then contracted in the following year.

In value terms, truck and bus tyre imports reduced to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

In 2022, Australia (X units), distantly followed by the Philippines (X units), Malaysia (X units), Indonesia (X units), Pakistan (X units), South Korea (X units) and Japan (X units) represented the major importers of tyres for buses or lorries, together mixing up X% of total imports. Taiwan (Chinese) (X units), Vietnam (X units), Bangladesh (X units), Thailand (X units), Afghanistan (X units) and Myanmar (X units) held a relatively small share of total imports.

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

In value terms, Australia ($X) constitutes the largest market for imported tyres for buses or lorries in Asia-Pacific, comprising X% of total imports. The second position in the ranking was held by Indonesia ($X), with an X% share of total imports. It was followed by South Korea, with an X% share.

In Australia, truck and bus tyre imports decreased by an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and South Korea (X% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per unit, surging by X% against the previous year. Overall, the import price, however, recorded a slight contraction. The pace of growth appeared the most rapid in 2018 an increase of X%. Over the period under review, import prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a 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 Bangladesh (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :