Australia and Oceania: Market for Tyres For Buses Or Lorries 2024

Exports of Tyres For Buses Or Lorries

Exports in Australia and Oceania

In 2022, shipments abroad of tyres for buses or lorries increased by 6% to X units, rising for the second year in a row after two years of decline. In general, exports enjoyed prominent growth. The pace of growth appeared the most rapid in 2015 with an increase of 311% against the previous year. As a result, the exports reached the peak of X units. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, truck and bus tyre exports surged to $X in 2022. Overall, exports, however, continue to indicate a abrupt setback. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Australia prevails in exports structure, reaching X units, which was approx. 93% of total exports in 2022. It was distantly followed by New Zealand (X units), achieving a 5.3% share of total exports.

Australia was also the fastest-growing in terms of the tyres for buses or lorries exports, with a CAGR of +9.5% from 2012 to 2022. New Zealand (-8.2%) illustrated a downward trend over the same period. While the share of Australia (+21 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of New Zealand (-18.8 p.p.) displayed negative dynamics.

In value terms, Australia ($X) remains the largest truck and bus tyre supplier in Australia and Oceania, comprising 88% of total exports. The second position in the ranking was held by New Zealand ($X), with an 11% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Australia stood at -6.5%.

Export Prices by Country

The export price in Australia and Oceania stood at $X per unit in 2022, jumping by 215% against the previous year. In general, the export price, however, saw a deep reduction. The most prominent rate of growth was recorded in 2016 an increase of 236%. Over the period under review, the export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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 New Zealand ($X per unit), while Australia amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+0.5%).

Imports of Tyres For Buses Or Lorries

Imports in Australia and Oceania

In 2022, purchases abroad of tyres for buses or lorries increased by 0.8% to X units, rising for the seventh consecutive year after three years of decline. The total import volume increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 12% against the previous year. The volume of import peaked in 2022 and is likely to see steady growth in years to come.

In value terms, truck and bus tyre imports expanded sharply to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 27% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Australia prevails in imports structure, reaching X units, which was approx. 85% of total imports in 2022. It was distantly followed by New Zealand (X units), mixing up a 9.1% share of total imports. The following importers - Fiji (X units) and Papua New Guinea (X units) - each amounted to a 4.4% share of total imports.

Imports into Australia increased at an average annual rate of +1.3% from 2012 to 2022. At the same time, Fiji (+18.8%) and New Zealand (+5.0%) displayed positive paces of growth. Moreover, Fiji emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +18.8% from 2012-2022. By contrast, Papua New Guinea (-1.8%) illustrated a downward trend over the same period. While the share of New Zealand (+2.5 p.p.) and Fiji (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Australia (-3.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported tyres for buses or lorries in Australia and Oceania, comprising 85% of total imports. The second position in the ranking was taken by New Zealand ($X), with a 9.9% share of total imports. It was followed by Papua New Guinea, with a 2.6% share.

In Australia, truck and bus tyre imports decreased by an average annual rate of -1.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: New Zealand (+3.0% per year) and Papua New Guinea (-4.5% per year).

Import Prices by Country

In 2022, the import price in Australia and Oceania amounted to $X per unit, with an increase of 6% against the previous year. Overall, the import price, however, showed a pronounced contraction. The most prominent rate of growth was recorded in 2021 when the import price increased by 13% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Papua New Guinea ($X per unit), while Fiji ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (-1.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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