Global Tyre Market 2024

Tyre Market Size

The global tyre market was finally on the rise to reach $X in 2022, after two years of decline. Over the period under review, consumption showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the global market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Tyre Production

In value terms, tyre production dropped modestly to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Over the period under review, global production attained the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Tyre Exports

Exports

Global tyre exports dropped slightly to X units in 2022, leveling off at the previous year's figure. The total export volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports reached the peak of X units, leveling off in the following year.

In value terms, tyre exports stood at $X in 2022. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the global exports reached the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

In 2022, China (X units) represented the key exporter of tyres, making up X% of total exports. Thailand (X units) ranks second in terms of the total exports with an X% share, followed by Germany (X%). Vietnam (X units), India (X units), Indonesia (X units), Japan (X units), South Korea (X units), Poland (X units), the Netherlands (X units), Spain (X units), Romania (X units) and the Czech Republic (X units) followed a long way behind the leaders.

Exports from China increased at an average annual rate of X% from 2012 to 2022. At the same time, Vietnam (X%), Thailand (X%), Romania (X%), the Netherlands (X%), India (X%), Poland (X%) and Spain (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2022. The Czech Republic experienced a relatively flat trend pattern. By contrast, Indonesia (X%), South Korea (X%), Germany (X%) and Japan (X%) illustrated a downward trend over the same period. While the share of China (X p.p.), Vietnam (X p.p.) and Thailand (X p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Japan (X p.p.) and Germany (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest tyre supplier worldwide, comprising X% of global exports. The second position in the ranking was taken by Thailand ($X), with a X% share of global exports. It was followed by Germany, with a X% share.

In China, tyre exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (X% per year) and Germany (X% per year).

Export Prices by Country

In 2022, the average tyre export price amounted to $X per unit, with an increase of X% against the previous year. Over the period under review, the export price, however, continues to indicate a mild slump. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. The global export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while Vietnam ($X per unit) was amongst the lowest.

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

Tyre Imports

Imports

In 2022, supplies from abroad of tyres increased by X% to X units, rising for the second consecutive year after three years of decline. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, global imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, tyre imports rose significantly to $X in 2022. Overall, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, global imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, the United States (X units), distantly followed by Germany (X units), the Netherlands (X units) and Mexico (X units) were the largest importers of tyres, together making up X% of total imports. The following importers - France (X units), Italy (X units), the UK (X units), Brazil (X units), Russia (X units), Canada (X units), Spain (X units), Poland (X units) and Australia (X units) - together made up X% of total imports.

Imports into the United States increased at an average annual rate of X% from 2012 to 2022. At the same time, the Netherlands (X%), Mexico (X%), Poland (X%), Spain (X%), Australia (X%), Germany (X%), Italy (X%), the UK (X%) and Canada (X%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2022. Brazil, Russia and France experienced a relatively flat trend pattern. The Netherlands (X p.p.), the United States (X p.p.) and Mexico (X p.p.) significantly strengthened its position in terms of the global imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported tyres worldwide, comprising X% of global imports. The second position in the ranking was taken by Germany ($X), with a X% share of global imports. It was followed by France, with a X% share.

In the United States, tyre imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Germany (X% per year) and France (X% per year).

Import Prices by Country

The average tyre import price stood at $X per unit in 2022, with an increase of X% against the previous year. In general, the import price, however, continues to indicate a mild slump. The pace of growth was the most pronounced in 2018 an increase of X%. Global import price peaked 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 destination: amid the top importers, the country with the highest price was Australia ($X per unit), while the Netherlands ($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 other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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