Ecuador: Tyre Market 2024

Tyre Market Size in Ecuador

The Ecuadorian tyre market declined to $X in 2022, reducing by X% against the previous year. Over the period under review, consumption saw a mild decline. Tyre consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Tyre Production in Ecuador

In value terms, tyre production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a noticeable expansion. The growth pace was the most rapid in 2015 when the production volume increased by X%. Tyre production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Tyre Exports

Exports from Ecuador

In 2022, approx. X units of tyres were exported from Ecuador; growing by X% on the previous year. In general, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, tyre exports soared to $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

The United States (X units), Colombia (X units) and Venezuela (X units) were the main destinations of tyre exports from Ecuador, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of X%), while the other leaders experienced mixed trend patterns.

In value terms, Colombia ($X), the United States ($X) and Venezuela ($X) constituted the largest markets for tyre exported from Ecuador worldwide, with a combined X% share of total exports.

In terms of the main countries of destination, the United States, with a CAGR of X%, saw the highest rates of growth with regard to 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

The average tyre export price stood at $X per unit in 2022, which is down by X% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per unit, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per unit), while the average price for exports to Chile ($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 Mexico (X%), while the prices for the other major destinations experienced mixed trend patterns.

Tyre Imports

Imports into Ecuador

In 2022, the amount of tyres imported into Ecuador reduced notably to X units, declining by X% against the previous year's figure. Overall, total imports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2017 indices. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, imports hit record highs at X units in 2021, and then dropped notably in the following year.

In value terms, tyre imports reached $X in 2022. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Imports peaked 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 tyre supplier to Ecuador, accounting for a X% share of total imports. Moreover, tyre imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), sixfold. The third position in this ranking was taken by Mexico (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Mexico (X% per year).

In value terms, China ($X) constituted the largest supplier of tyres to Ecuador, comprising X% of total imports. The second position in the ranking was taken by Mexico ($X), with a X% share of total imports. It was followed by Brazil, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (X% per year) and Brazil (X% per year).

Import Prices by Country

The average tyre import price stood at $X per unit in 2022, picking up by X% against the previous year. In general, the import price, however, continues to indicate a noticeable decrease. The import price peaked at $X per unit in 2012; however, from 2013 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 Brazil ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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