India: Aircraft Tyre Market 2024

Aircraft Tyre Market Size in India

The Indian aircraft tyre market surged to $X in 2021, picking up by 31% 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). Overall, consumption, however, recorded a slight reduction. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Aircraft Tyre Exports

Exports from India

In 2021, overseas shipments of tyres for aircraft increased by 28% to X units for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports, however, recorded a sharp setback. The growth pace was the most rapid in 2014 with an increase of 93%. Over the period under review, the exports attained the maximum at X units in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, aircraft tyre exports reduced slightly to $X in 2021. Overall, exports, however, recorded a precipitous decrease. The most prominent rate of growth was recorded in 2017 with an increase of 70%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

China (X units), Thailand (X units) and Tanzania (X units) were the main destinations of aircraft tyre exports from India, with a combined 86% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +30.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for aircraft tyre exported from India were China ($X), Thailand ($X) and the United States ($X), together comprising 82% of total exports.

Among the main countries of destination, China, with a CAGR of +11.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average aircraft tyre export price amounted to $X per unit, declining by -22.3% against the previous year. Over the period under review, the export price saw a abrupt contraction. The pace of growth appeared the most rapid in 2018 an increase of 74% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2019 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Tanzania ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+3.5%), while the prices for the other major destinations experienced mixed trend patterns.

Aircraft Tyre Imports

Imports into India

In 2021, after three years of decline, there was significant growth in purchases abroad of tyres for aircraft, when their volume increased by 29% to X units. Over the period under review, imports, however, saw a abrupt decrease. Over the period under review, imports reached the maximum at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, aircraft tyre imports soared to $X in 2021. In general, imports, however, continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2013 with an increase of 32%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Thailand (X units) constituted the largest aircraft tyre supplier to India, accounting for a 54% share of total imports. Moreover, aircraft tyre imports from Thailand exceeded the figures recorded by the second-largest supplier, Singapore (X units), fourfold. The United States (X units) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from Thailand stood at +3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+11.4% per year) and the United States (-9.2% per year).

In value terms, Thailand ($X) constituted the largest supplier of tyres for aircraft to India, comprising 57% of total imports. The second position in the ranking was taken by Singapore ($X), with a 15% share of total imports. It was followed by Hong Kong SAR, with a 14% share.

From 2012 to 2021, the average annual growth rate of value from Thailand totaled +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+12.8% per year) and Hong Kong SAR (-9.8% per year).

Import Prices by Country

In 2021, the average aircraft tyre import price amounted to $X per unit, growing by 2.4% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.5%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 36%. Over the period under review, average import prices attained the peak figure at $X per unit in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was France ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+10.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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