China: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in China

In 2022, the Chinese truck and bus tyre market increased by X% to $X for the first time since 2018, thus ending a three-year declining trend. Overall, consumption, however, continues to indicate a deep downturn. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Production of Tyres For Buses Or Lorries in China

In value terms, truck and bus tyre production dropped modestly to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Exports of Tyres For Buses Or Lorries

Exports from China

In 2022, overseas shipments of tyres for buses or lorries increased by X% to X units, rising for the third year in a row after two years of decline. In general, exports continue to indicate a strong increase. The pace of growth was the most pronounced in 2020 with an increase of X%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, truck and bus tyre exports surged 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 remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by X%. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

The United States (X units), Mexico (X units) and Russia (X units) were the main destinations of truck and bus tyre exports from China, with a combined X% share of total exports. Saudi Arabia, the United Arab Emirates, Australia, Canada, Iraq, Indonesia, Malaysia, Vietnam, Pakistan and the Philippines lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for truck and bus tyre exported from China were the United States ($X), Mexico ($X) and Russia ($X), with a combined X% share of total exports. Saudi Arabia, the United Arab Emirates, Australia, Canada, Iraq, Indonesia, Malaysia, Vietnam, Pakistan and the Philippines lagged somewhat behind, together accounting for a further X%.

Iraq, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average truck and bus tyre export price stood at $X per unit in 2022, growing by X% against the previous year. Over the period under review, the export price, however, saw a perceptible reduction. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($X per unit) and Vietnam ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) and Pakistan ($X 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 the United States (X%), while the prices for the other major destinations experienced a decline.

Imports of Tyres For Buses Or Lorries

Imports into China

In 2022, supplies from abroad of tyres for buses or lorries decreased by X% to X units for the first time since 2017, thus ending a four-year rising trend. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, imports reached the maximum at X units in 2021, and then fell remarkably in the following year.

In value terms, truck and bus tyre imports dropped to $X in 2022. Over the period under review, imports showed a noticeable descent. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Thailand (X units), Japan (X units) and the United States (X units) were the main suppliers of truck and bus tyre imports to China, with a combined X% share of total imports. Spain, Vietnam and Germany lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest truck and bus tyre suppliers to China were Thailand ($X), Japan ($X) and Spain ($X), together accounting for X% of total imports. The United States, Vietnam and Germany lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average truck and bus tyre import price stood at $X per unit in 2022, rising by X% against the previous year. In general, the import price, however, saw a perceptible downturn. The pace of growth appeared the most rapid in 2015 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2016 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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