Australia: Tyre Market 2024

Tyre Market Size in Australia

In 2022, the Australian tyre market increased by X% to $X, rising for the second year in a row after two years of decline. Overall, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Tyre Production in Australia

In value terms, tyre production rose remarkably to $X in 2022 estimated in export price. In general, production posted perceptible growth. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Tyre Exports

Exports from Australia

In 2022, overseas shipments of tyres increased by X% to X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports saw a relatively flat trend pattern. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, tyre exports skyrocketed to $X in 2022. Overall, total exports indicated a perceptible expansion 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 exports peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

New Zealand (X units) was the main destination for tyre exports from Australia, with a X% share of total exports. Moreover, tyre exports to New Zealand exceeded the volume sent to the second major destination, China (X units), twofold. The third position in this ranking was taken by Papua New Guinea (X units), with an X% share.

From 2012 to 2022, the average annual growth rate of volume to New Zealand amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Papua New Guinea (X% per year).

In value terms, China ($X), Papua New Guinea ($X) and New Zealand ($X) were the largest markets for tyre exported from Australia worldwide, with a combined X% share of total exports.

China, with a CAGR of X%, saw the highest growth rate of 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 tyre export price stood at $X per unit in 2022, growing by X% against the previous year. Over the period under review, export price indicated pronounced growth from 2012 to 2022: its price 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, tyre export price increased by X% against 2018 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to Belgium ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (X%), while the prices for the other major destinations experienced more modest paces of growth.

Tyre Imports

Imports into Australia

In 2022, approx. X units of tyres were imported into Australia; growing by X% against the previous year's figure. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, tyre imports amounted to $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X%. 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

In 2022, China (X units) constituted the largest supplier of tyre to Australia, with a X% share of total imports. Moreover, tyre imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), threefold. Japan (X units) ranked third in terms of total imports with an X% share.

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

In value terms, China ($X), Japan ($X) and the United States ($X) were the largest tyre suppliers to Australia, with a combined X% share of total imports. Thailand, South Korea, Taiwan (Chinese), Indonesia, Germany and Vietnam lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Vietnam, with a CAGR of X%, recorded the highest growth rate of 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

In 2022, the average tyre import price amounted to $X per unit, with an increase of X% against the previous year. Over the period under review, the import price, however, showed a noticeable curtailment. The most prominent rate of growth was recorded in 2017 an increase of X%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood 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 the United States ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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