Cameroon: 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 Cameroon

In 2022, the Cameroonian market for tyres for agriculture, forestry, construction, industry and other off the road vehicles was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. In general, consumption, however, saw a noticeable decline. Consumption of peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

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

Exports from Cameroon

In 2022, after two years of growth, there was significant decline in overseas shipments of tyres for agriculture, forestry, construction, industry and other off the road vehicles, when their volume decreased by -54.3% to X units. In general, exports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 205%. As a result, the exports reached the peak of X units, and then fell significantly in the following year.

In value terms, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles declined to $X in 2022. Overall, exports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 147% against the previous year. As a result, the exports reached the peak of $X, and then contracted in the following year.

Exports by Country

New Zealand (X units) was the main destination for exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Cameroon, with a 71% share of total exports. Moreover, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles to New Zealand exceeded the volume sent to the second major destination, Canada (X units), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to New Zealand was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+103.4% per year) and Benin (0.0% per year).

In value terms, New Zealand ($X) emerged as the key foreign market for tyres for agriculture, forestry, construction, industry and other off the road vehicles exports from Cameroon, comprising 76% of total exports. The second position in the ranking was taken by Canada ($X), with a 22% share of total exports.

From 2012 to 2022, the average annual growth rate of value to New Zealand was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+74.1% per year) and Benin (0.0% per year).

Export Prices by Country

The average export price for tyres for agriculture, forestry, construction, industry and other off the road vehicles stood at $X per unit in 2022, jumping by 94% against the previous year. Over the period under review, the export price, however, recorded a slight decline. The pace of growth appeared the most rapid in 2020 when the average export price increased by 106% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was New Zealand ($X per unit), while the average price for exports to Benin ($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 Equatorial Guinea (+31.8%), while the prices for the other major destinations experienced a decline.

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

Imports into Cameroon

In 2022, purchases abroad of tyres for agriculture, forestry, construction, industry and other off the road vehicles was finally on the rise to reach X units after four years of decline. Overall, imports, however, recorded a noticeable descent. The pace of growth appeared the most rapid in 2017 when imports increased by 108%. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles surged to $X in 2022. In general, imports, however, saw a deep slump. Over the period under review, imports of tyres for agriculture, forestry, construction, industry and other off road vehicles attained the maximum at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, India (X units) constituted the largest agricultural, construction and industrial machinery tyre supplier to Cameroon, with a 22% share of total imports. Moreover, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from India exceeded the figures recorded by the second-largest supplier, France (X units), twofold. China (X units) ranked third in terms of total imports with a 9% share.

From 2012 to 2022, the average annual growth rate of volume from India stood at -6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-7.5% per year) and China (-4.9% per year).

In value terms, the largest agricultural, construction and industrial machinery tyre suppliers to Cameroon were France ($X), India ($X) and China ($X), together accounting for 44% of total imports. Italy, Brazil, Poland and the United Arab Emirates lagged somewhat behind, together comprising a further 13%.

In terms of the main suppliers, Italy, with a CAGR of +10.1%, saw the highest rates of growth with regard to 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 import price for tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X per unit, approximately reflecting the previous year. In general, the import price, however, continues to indicate a slight descent. The growth pace was the most rapid in 2018 an increase of 44%. The import price peaked at $X per unit in 2020; however, from 2021 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 France ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform