Hong Kong SAR, China: Tyre Market 2025

Tyre Market Size in Hong Kong SAR, China

The Hong Kong tyre market contracted markedly to $X in 2022, declining by X% against the previous year. Overall, consumption showed a abrupt downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Tyre Production in Hong Kong SAR, China

In value terms, tyre production dropped modestly to $X in 2022 estimated in export price. In general, production continues to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2016 when the production volume increased by X%. Tyre production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Tyre Exports

Exports from Hong Kong SAR, China

After two years of growth, overseas shipments of tyres decreased by X% to X units in 2022. In general, total exports indicated a moderate expansion 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, exports increased by X% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of X%. The exports peaked at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, tyre exports reduced to $X in 2022. Overall, exports saw a mild curtailment. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X units) was the main destination for tyre exports from Hong Kong SAR, accounting for a X% share of total exports. Moreover, tyre exports to China exceeded the volume sent to the second major destination, Taiwan (Chinese) (X units), twofold. Macao SAR (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and Macao SAR (X% per year).

In value terms, China ($X) remains the key foreign market for tyres exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was taken by Macao SAR ($X), with a X% share of total exports. It was followed by Taiwan (Chinese), with a X% share.

From 2012 to 2022, the average annual growth rate of value to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

In 2022, the average tyre export price amounted to $X per unit, rising by X% against the previous year. In general, the export price, however, showed a perceptible curtailment. The most prominent rate of growth was recorded in 2018 an increase of X%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

Tyre Imports

Imports into Hong Kong SAR, China

In 2022, approx. X units of tyres were imported into Hong Kong SAR; which is down by X% on the year before. In general, imports continue to indicate a abrupt decrease. The pace of growth was the most pronounced in 2015 with an increase of X%. As a result, imports reached the peak of X units. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, tyre imports dropped to $X in 2022. Overall, imports showed a abrupt contraction. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Japan (X units) and Thailand (X units) were the main suppliers of tyre imports to Hong Kong SAR, together accounting for X% of total imports. Indonesia, the Netherlands, Germany, Italy, South Korea, Spain, Taiwan (Chinese), Belgium, Oman and the United Arab Emirates lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest tyre suppliers to Hong Kong SAR were Japan ($X), China ($X) and Thailand ($X), with a combined X% share of total imports. The Netherlands, Italy, Germany, South Korea, Spain, Indonesia, Belgium, the United Arab Emirates, Oman and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Oman, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average tyre import price stood at $X per unit in 2022, growing by X% against the previous year. Over the period under review, the import price, however, saw a noticeable decrease. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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