Colombia: Market for Tyres For Buses Or Lorries 2025

Market Size for Tyres For Buses Or Lorries in Colombia

The Colombian truck and bus tyre market dropped markedly to $X in 2022, which is down by -18.2% 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). In general, consumption continues to indicate a perceptible descent. Truck and bus tyre consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Exports of Tyres For Buses Or Lorries

Exports from Colombia

In 2022, after five years of growth, there was decline in shipments abroad of tyres for buses or lorries, when their volume decreased by -0.3% to X units. Overall, exports showed a perceptible decrease. The most prominent rate of growth was recorded in 2017 with an increase of 78%. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, truck and bus tyre exports shrank slightly to $X in 2022. In general, exports recorded a abrupt slump. The pace of growth was the most pronounced in 2018 with an increase of 84% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for truck and bus tyre exports from Colombia, with a 74% share of total exports. Moreover, truck and bus tyre exports to the United States exceeded the volume sent to the second major destination, Brazil (X units), sevenfold. Mexico (X units) ranked third in terms of total exports with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +90.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (-16.3% per year) and Mexico (-5.3% per year).

In value terms, the United States ($X) remains the key foreign market for tyres for buses or lorries exports from Colombia, comprising 72% of total exports. The second position in the ranking was held by Brazil ($X), with an 11% share of total exports. It was followed by Mexico, with an 8.9% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +97.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (-16.4% per year) and Mexico (-11.3% per year).

Export Prices by Country

In 2022, the average truck and bus tyre export price amounted to $X per unit, remaining stable against the previous year. Overall, the export price, however, saw a pronounced descent. The most prominent rate of growth was recorded in 2014 an increase of 36% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Ecuador ($X per unit) and Chile ($X per unit), while the average price for exports to the United States ($X per unit) and Mexico ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+4.0%), while the prices for the other major destinations experienced a decline.

Imports of Tyres For Buses Or Lorries

Imports into Colombia

Truck and bus tyre imports into Colombia shrank to X units in 2022, which is down by -14% on the year before. Overall, imports showed a pronounced reduction. The growth pace was the most rapid in 2021 when imports increased by 39% against the previous year. Over the period under review, imports reached the maximum at X units in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, truck and bus tyre imports dropped to $X in 2022. Over the period under review, imports recorded a perceptible decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 42% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest truck and bus tyre supplier to Colombia, accounting for a 57% share of total imports. Moreover, truck and bus tyre imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X units), fourfold. Ecuador (X units) ranked third in terms of total imports with a 5.5% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-0.3% per year) and Ecuador (+4.0% per year).

In value terms, China ($X) constituted the largest supplier of tyres for buses or lorries to Colombia, comprising 51% of total imports. The second position in the ranking was held by Brazil ($X), with a 16% share of total imports. It was followed by Ecuador, with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to -3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-5.6% per year) and Ecuador (+8.8% per year).

Import Prices by Country

In 2022, the average truck and bus tyre import price amounted to $X per unit, standing approx. at the previous year. Overall, the import price continues to indicate a mild downturn. The pace of growth was the most pronounced in 2020 when the average import price increased by 15%. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a 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 Ecuador ($X per unit), while the price for Peru ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ecuador (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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