Ecuador: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in Ecuador

In 2022, the Ecuadorian truck and bus tyre market increased by X% to $X, rising for the second consecutive year after three years of decline. In general, consumption, however, showed a abrupt shrinkage. Truck and bus tyre consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Production of Tyres For Buses Or Lorries in Ecuador

In value terms, truck and bus tyre production contracted slightly to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Exports of Tyres For Buses Or Lorries

Exports from Ecuador

In 2022, exports of tyres for buses or lorries from Ecuador surged to X units, jumping by X% against 2021. Over the period under review, exports saw pronounced growth. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum 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. Overall, total exports indicated a mild increase from 2012 to 2022: its value 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 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Colombia (X units) was the main destination for truck and bus tyre exports from Ecuador, accounting for a X% share of total exports. Moreover, truck and bus tyre exports to Colombia exceeded the volume sent to the second major destination, Mexico (X units), fourfold. The United States (X units) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Colombia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and the United States (X% per year).

In value terms, Colombia ($X) remains the key foreign market for tyres for buses or lorries exports from Ecuador, comprising X% of total exports. The second position in the ranking was held by Mexico ($X), with a X% share of total exports. It was followed by the United States, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Colombia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and the United States (X% per year).

Export Prices by Country

The average truck and bus tyre export price stood at $X per unit in 2022, with a decrease of X% against the previous year. In general, the export price saw a slight slump. The most prominent rate of growth was recorded in 2014 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Bolivia ($X per unit) and Colombia ($X per unit), while the average price for exports to Venezuela ($X per unit) and Chile ($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 Mexico (X%), while the prices for the other major destinations experienced a decline.

Imports of Tyres For Buses Or Lorries

Imports into Ecuador

In 2022, purchases abroad of tyres for buses or lorries increased by X% to X units, rising for the second year in a row after three years of decline. Over the period under review, imports, however, recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, truck and bus tyre imports soared to $X in 2022. Overall, imports, however, showed a perceptible descent. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest truck and bus tyre supplier to Ecuador, accounting for a X% share of total imports. Moreover, truck and bus tyre imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X units), ninefold. Colombia (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and Colombia (X% per year).

In value terms, China ($X) constituted the largest supplier of tyres for buses or lorries to Ecuador, comprising X% of total imports. The second position in the ranking was taken by Brazil ($X), with a X% share of total imports. It was followed by Colombia, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and Colombia (X% per year).

Import Prices by Country

The average truck and bus tyre import price stood at $X per unit in 2022, with an increase of X% against the previous year. Overall, the import price, however, continues to indicate a pronounced descent. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per unit), while the price for Peru ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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