GCC: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in GCC

The GCC truck and bus tyre market reached $X in 2022, rising by X% against the previous year. In general, consumption saw a relatively flat trend pattern. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Tyres For Buses Or Lorries in GCC

In value terms, truck and bus tyre production contracted to $X in 2022 estimated in export price. In general, production continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Tyres For Buses Or Lorries

Exports in GCC

Truck and bus tyre exports contracted notably to X units in 2022, declining by X% against the previous year's figure. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The volume of export peaked at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, truck and bus tyre exports dropped rapidly to $X in 2022. Over the period under review, exports showed a mild slump. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates represented the key exporting country with an export of about X units, which amounted to X% of total exports. Oman (X units) took the second position in the ranking, followed by Kuwait (X units). All these countries together took near X% share of total exports. The following exporters - Saudi Arabia (X units) and Bahrain (X units) - each resulted at an X% share of total exports.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of exports of tyres for buses or lorries. At the same time, Oman (X%) and Kuwait (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. Saudi Arabia experienced a relatively flat trend pattern. By contrast, Bahrain (X%) illustrated a downward trend over the same period. While the share of Oman (X p.p.) and Kuwait (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Bahrain (X p.p.) and the United Arab Emirates (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest truck and bus tyre supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Oman ($X), with a X% share of total exports. It was followed by Kuwait, with a X% share.

In the United Arab Emirates, truck and bus tyre exports plunged by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Oman (X% per year) and Kuwait (X% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per unit, waning by X% against the previous year. In general, the export price continues to indicate a pronounced slump. The pace of growth was the most pronounced in 2014 when the export price increased by X%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in the United Arab Emirates ($X per unit) and Oman ($X per unit), while Bahrain ($X per unit) and Saudi Arabia ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced a decline in the export price figures.

Imports of Tyres For Buses Or Lorries

Imports in GCC

In 2022, approx. X units of tyres for buses or lorries were imported in GCC; waning by X% on the previous year's figure. Overall, imports continue to indicate a pronounced decline. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The volume of import peaked at X units in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, truck and bus tyre imports expanded significantly to $X in 2022. In general, imports continue to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates was the key importing country with an import of about X units, which accounted for X% of total imports. Qatar (X units) took an X% share (based on physical terms) of total imports, which put it in second place, followed by Oman (X%) and Kuwait (X%). Bahrain (X units) followed a long way behind the leaders.

Imports into the United Arab Emirates decreased at an average annual rate of X% from 2012 to 2022. At the same time, Qatar (X%) and Bahrain (X%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. Oman experienced a relatively flat trend pattern. By contrast, Kuwait (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Kuwait, Qatar and Oman 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, the United Arab Emirates ($X) constitutes the largest market for imported tyres for buses or lorries in GCC, comprising X% of total imports. The second position in the ranking was held by Oman ($X), with a X% share of total imports. It was followed by Qatar, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Oman (X% per year) and Qatar (X% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per unit, rising by X% against the previous year. Overall, the import price, however, showed a mild decrease. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Oman ($X per unit), while Qatar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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