Colombia: 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 Colombia

The Colombian market for tyres for agriculture, forestry, construction, industry and other off the road vehicles soared to $X in 2022, with an increase of 25% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a abrupt curtailment. Consumption of peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

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

Exports from Colombia

In 2022, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Colombia shrank remarkably to X units, which is down by -51.7% on the previous year's figure. In general, exports showed a abrupt setback. The most prominent rate of growth was recorded in 2018 when exports increased by 68% against the previous year. As a result, the exports attained the peak of X units. From 2019 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles contracted significantly to $X in 2022. Overall, exports recorded a abrupt slump. The pace of growth appeared the most rapid in 2018 with an increase of 142% against the previous year. Over the period under review, the exports of tyres for agriculture, forestry, construction, industry and other off road vehicles attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Panama (X units), Suriname (X units) and Mexico (X units) were the main destinations of exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Colombia, together comprising 54% of total exports. Peru, the United States, Ecuador, Honduras, Brazil and Chile lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +46.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Ecuador ($X), Honduras ($X) and Peru ($X) appeared to be the largest markets for agricultural, construction and industrial machinery tyre exported from Colombia worldwide, with a combined 45% share of total exports. Panama, Mexico, Suriname, the United States, Chile and Brazil lagged somewhat behind, together accounting for a further 27%.

In terms of the main countries of destination, Suriname, with a CAGR of +51.3%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

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, falling by -5.5% against the previous year. Overall, the export price recorded a abrupt slump. The growth pace was the most rapid in 2020 an increase of 55% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Honduras ($X per unit), while the average price for exports to Suriname ($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 Honduras (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Colombia

In 2022, the amount of tyres for agriculture, forestry, construction, industry and other off the road vehicles imported into Colombia shrank to X units, declining by -13% against 2021. In general, imports showed a abrupt decline. The growth pace was the most rapid in 2021 when imports increased by 62%. Over the period under review, imports of tyres for agriculture, forestry, construction, industry and other off road vehicles reached the peak figure at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles soared to $X in 2022. Overall, imports showed a perceptible reduction. Imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

China (X units), India (X units) and Brazil (X units) were the main suppliers of imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles to Colombia, with a combined 69% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +14.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), the United States ($X) and Brazil ($X) appeared to be the largest agricultural, construction and industrial machinery tyre suppliers to Colombia, together comprising 78% of total imports. China, India and Panama lagged somewhat behind, together comprising a further 12%.

Among the main suppliers, India, with a CAGR of +7.3%, 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

The average import price for tyres for agriculture, forestry, construction, industry and other off the road vehicles stood at $X per unit in 2022, surging by 120% against the previous year. In general, the import price showed measured growth. Over the period under review, average import prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Panama ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+33.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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