Cote d'Ivoire: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in Cote d'Ivoire

In 2022, the Cote d'Ivoire's truck and bus tyre market decreased by -14.8% to $X for the first time since 2016, thus ending a five-year rising trend. In general, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +93.5% against 2016 indices. As a result, consumption attained the peak level of $X, and then reduced in the following year.

Exports of Tyres For Buses Or Lorries

Exports from Cote d'Ivoire

In 2022, shipments abroad of tyres for buses or lorries decreased by -21.8% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, showed strong growth. The pace of growth appeared the most rapid in 2015 with an increase of 567%. The exports peaked at X units in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, truck and bus tyre exports shrank rapidly to $X in 2022. In general, exports, however, recorded a strong expansion. The growth pace was the most rapid in 2020 when exports increased by 372%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Mali (X units), Benin (X units) and Niger (X units) were the main destinations of truck and bus tyre exports from Cote d'Ivoire, with a combined 98% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Mali (with a CAGR of +45.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for truck and bus tyre exported from Cote d'Ivoire were Mali ($X), Benin ($X) and Niger ($X), with a combined 98% share of total exports.

In terms of the main countries of destination, Mali, with a CAGR of +51.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average truck and bus tyre export price amounted to $X per unit, almost unchanged from the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 20%. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Benin ($X per unit), while the average price for exports to Niger ($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 Benin (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tyres For Buses Or Lorries

Imports into Cote d'Ivoire

In 2022, overseas purchases of tyres for buses or lorries decreased by -15.3% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +18.7% against 2018 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 40%. As a result, imports attained the peak of X units, and then declined dramatically in the following year.

In value terms, truck and bus tyre imports fell to $X in 2022. Overall, total imports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +97.2% against 2016 indices. The most prominent rate of growth was recorded in 2021 with an increase of 42% against the previous year. As a result, imports attained the peak of $X, and then contracted in the following year.

Imports by Country

In 2022, China (X units) constituted the largest truck and bus tyre supplier to Cote d'Ivoire, with a 68% share of total imports. Moreover, truck and bus tyre imports from China exceeded the figures recorded by the second-largest supplier, India (X units), eightfold. The third position in this ranking was held by Thailand (X units), with a 4.9% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +11.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+13.9% per year) and Thailand (+11.0% per year).

In value terms, China ($X) constituted the largest supplier of tyres for buses or lorries to Cote d'Ivoire, comprising 75% of total imports. The second position in the ranking was held by India ($X), with a 4.2% share of total imports. It was followed by Thailand, with a 3.2% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +10.5%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+4.7% per year) and Thailand (+4.9% per year).

Import Prices by Country

The average truck and bus tyre import price stood at $X per unit in 2022, stabilizing at the previous year. In general, the import price, however, saw a slight decline. The most prominent rate of growth was recorded in 2019 when the average import price increased by 24% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per unit), while the price for India ($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 (-0.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform