Asia-Pacific: Market for Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles 2024

Market Size for Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles in Asia-Pacific

The Asia-Pacific market for tyres for agriculture, forestry, construction, industry and other off the road vehicles skyrocketed to $X in 2022, picking up by 25% against the previous year. Over the period under review, consumption saw a slight increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles in Asia-Pacific

In value terms, production of tyres for agriculture, forestry, construction, industry and other off the road vehicles stood at $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 6.8%. As a result, production reached the peak level of $X. From 2014 to 2022, production of growth remained at a lower figure.

Exports of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles

Exports in Asia-Pacific

In 2022, the amount of tyres for agriculture, forestry, construction, industry and other off the road vehicles exported in Asia-Pacific dropped to X units, shrinking by -13% against the previous year. Over the period under review, exports continue to indicate a pronounced reduction. The pace of growth appeared the most rapid in 2021 when exports increased by 38%. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X in 2022. Total exports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.6% 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 +50.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 37% against the previous year. Over the period under review, the exports of tyres for agriculture, forestry, construction, industry and other off road vehicles reached the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

China (X units) and India (X units) were the major exporters of tyres for agriculture, forestry, construction, industry and other off the road vehicles in 2022, resulting at near 35% and 29% of total exports, respectively. Thailand (X units) held the next position in the ranking, followed by Taiwan (Chinese) (X units) and Sri Lanka (X units). All these countries together held near 27% share of total exports. Japan (X units) and Vietnam (X units) held a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Vietnam (with a CAGR of +19.5%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and India ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 86% share of total exports. Thailand, Vietnam, Sri Lanka and Taiwan (Chinese) lagged somewhat behind, together comprising a further 11%.

Vietnam, with a CAGR of +20.5%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per unit, surging by 26% against the previous year. Overall, the export price enjoyed a strong expansion. The most prominent rate of growth was recorded in 2018 when the export price increased by 31%. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per unit), while Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+16.4%), while the other leaders experienced more modest paces of growth.

Imports of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles

Imports in Asia-Pacific

In 2022, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles in Asia-Pacific surged to X units, increasing by 22% on 2021 figures. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 26%. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles surged to $X in 2022. Over the period under review, imports, however, continue to indicate a mild decrease. The most prominent rate of growth was recorded in 2017 with an increase of 23% against the previous year. Over the period under review, imports of tyres for agriculture, forestry, construction, industry and other off road vehicles reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Australia (X units) and Indonesia (X units) were the largest importers of tyres for agriculture, forestry, construction, industry and other off the road vehicles in 2022, amounting to near 30% and 25% of total imports, respectively. The Philippines (X units) took the next position in the ranking, followed by New Zealand (X units) and India (X units). All these countries together took approx. 20% share of total imports. Japan (X units), China (X units), Thailand (X units), South Korea (X units), Nepal (X units), Singapore (X units) and Taiwan (Chinese) (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Nepal (with a CAGR of +29.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X) constitutes the largest market for imported tyres for agriculture, forestry, construction, industry and other off the road vehicles in Asia-Pacific, comprising 50% of total imports. The second position in the ranking was held by Indonesia ($X), with a 15% share of total imports. It was followed by China, with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Australia was relatively modest. In the other countries, the average annual rates were as follows: Indonesia (-4.0% per year) and China (+2.1% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2022, with a decrease of -4.8% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 37%. The level of import peaked at $X per unit in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+13.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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