Ecuador: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in Ecuador

The Ecuadorian truck and bus tyre market contracted slightly to $X in 2022, which is down by -4.2% against the previous year. In general, consumption recorded a abrupt contraction. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Production of Tyres For Buses Or Lorries in Ecuador

In value terms, truck and bus tyre production declined modestly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 7.2%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Exports of Tyres For Buses Or Lorries

Exports from Ecuador

In 2022, the amount of tyres for buses or lorries exported from Ecuador shrank markedly to X units, dropping by -16.1% compared with 2021 figures. Over the period under review, exports showed a slight reduction. The pace of growth was the most pronounced in 2021 when exports increased by 47%. Over the period under review, the exports attained the peak figure at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, truck and bus tyre exports contracted rapidly to $X in 2022. In general, exports showed a perceptible decrease. The pace of growth appeared the most rapid in 2021 when exports increased by 77%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Colombia (X units) was the main destination for truck and bus tyre exports from Ecuador, with a 70% share of total exports. Moreover, truck and bus tyre exports to Colombia exceeded the volume sent to the second major destination, Peru (X units), sevenfold. The third position in this ranking was held by Venezuela (X units), with a 9.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Colombia stood at +9.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (-6.3% per year) and Venezuela (-14.5% per year).

In value terms, Colombia ($X) remains the key foreign market for tyres for buses or lorries exports from Ecuador, comprising 70% of total exports. The second position in the ranking was taken by Peru ($X), with a 10% share of total exports. It was followed by Venezuela, with a 9.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Colombia totaled +8.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (-7.5% per year) and Venezuela (-15.6% per year).

Export Prices by Country

The average truck and bus tyre export price stood at $X per unit in 2022, waning by -6.8% against the previous year. Over the period under review, the export price continues to indicate a mild reduction. The pace of growth appeared the most rapid in 2014 an increase of 48% against the previous year. The export price peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were the United States ($X per unit) and Chile ($X per unit), while the average price for exports to Bolivia ($X per unit) and Colombia ($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 Mexico (-0.7%), while the prices for the other major destinations experienced a decline.

Imports of Tyres For Buses Or Lorries

Imports into Ecuador

In 2022, the amount of tyres for buses or lorries imported into Ecuador shrank to X units, dropping by -8.4% compared with the previous year. Over the period under review, imports saw a pronounced downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 43%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, truck and bus tyre imports contracted to $X in 2022. Overall, imports recorded a drastic downturn. The pace of growth appeared the most rapid in 2017 with an increase of 51%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of truck and bus tyre to Ecuador, accounting for a 78% share of total imports. Moreover, truck and bus tyre imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X units), more than tenfold. The third position in this ranking was held by Colombia (X units), with a 2.6% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-6.7% per year) and Colombia (-17.7% per year).

In value terms, China ($X) constituted the largest supplier of tyres for buses or lorries to Ecuador, comprising 70% of total imports. The second position in the ranking was held by Brazil ($X), with a 9.4% share of total imports. It was followed by Colombia, with a 4.8% share.

From 2012 to 2022, the average annual growth rate of value from China totaled -2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-4.4% per year) and Colombia (-15.3% per year).

Import Prices by Country

In 2022, the average truck and bus tyre import price amounted to $X per unit, almost unchanged from the previous year. Over the period under review, the import price saw a noticeable decline. The pace of growth was the most pronounced in 2017 when the average import price increased by 5.6%. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 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 Colombia ($X per unit), while the price for Peru ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+2.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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