Dominican Republic: Road Wheel Market 2025

Road Wheel Market Size in the Dominican Republic

The Dominican road wheel market rose modestly to $X in 2022, picking up by 1.8% 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 recorded prominent growth. Road wheel consumption peaked in 2022 and is expected to retain growth in the immediate term.

Road Wheel Exports

Exports from the Dominican Republic

In 2022, after three years of decline, there was significant growth in shipments abroad of road wheels, when their volume increased by 1,320% to X tons. In general, exports saw a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, road wheel exports surged to $X in 2022. Over the period under review, exports showed significant growth. The pace of growth appeared the most rapid in 2013 when exports increased by 767% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

Cuba (X tons), India (X tons) and Venezuela (X tons) were the main destinations of road wheel exports from the Dominican Republic, together accounting for 89% of total exports.

From 2012 to 2022, the biggest increases were recorded for Venezuela (with a CAGR of +33,233.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cuba ($X) remains the key foreign market for road wheels exports from the Dominican Republic, comprising 85% of total exports. The second position in the ranking was taken by Haiti ($X), with a 4.7% share of total exports. It was followed by India, with a 2.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Cuba totaled +86.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (+111.8% per year) and India (0.0% per year).

Export Prices by Country

In 2022, the average road wheel export price amounted to $X per ton, waning by -51.3% against the previous year. Overall, the export price, however, enjoyed slight growth. The most prominent rate of growth was recorded in 2019 an increase of 194%. The export price peaked at $X per ton in 2021, and then plummeted in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turks and Caicos Islands (+24.1%), while the prices for the other major destinations experienced more modest paces of growth.

Road Wheel Imports

Imports into the Dominican Republic

In 2022, overseas purchases of road wheels increased by 9.3% to X tons, rising for the second year in a row after two years of decline. In general, imports posted a resilient increase. The growth pace was the most rapid in 2021 when imports increased by 105%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, road wheel imports expanded slightly to $X in 2022. Overall, imports saw a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 60%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest road wheel supplier to the Dominican Republic, with a 71% share of total imports. Moreover, road wheel imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), sixfold. The third position in this ranking was held by Japan (X tons), with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+5.1% per year) and Japan (+5.8% per year).

In value terms, China ($X) constituted the largest supplier of road wheels to the Dominican Republic, comprising 76% of total imports. The second position in the ranking was held by the United States ($X), with an 11% share of total imports. It was followed by Japan, with a 2.5% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +13.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+9.5% per year) and Japan (+2.6% per year).

Import Prices by Country

The average road wheel import price stood at $X per ton in 2022, waning by -4.8% against the previous year. In general, import price indicated a tangible expansion from 2012 to 2022: its price 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, road wheel import price decreased by -25.7% against 2020 indices. The most prominent rate of growth was recorded in 2016 an increase of 64% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 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 Mexico ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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