Jordan: Market for Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles 2024

Market Size for Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles in Jordan

The Jordanian market for tyres for agriculture, forestry, construction, industry and other off the road vehicles fell dramatically to $X in 2022, which is down by -31.8% 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). Over the period under review, consumption continues to indicate a abrupt shrinkage. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Exports of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles

Exports from Jordan

In 2022, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Jordan surged to X units, with an increase of 730% compared with the previous year. In general, exports, however, faced a sharp shrinkage. Over the period under review, the exports of tyres for agriculture, forestry, construction, industry and other off road vehicles reached the maximum at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles skyrocketed to $X in 2022. Over the period under review, exports, however, saw a abrupt curtailment. Over the period under review, the exports of tyres for agriculture, forestry, construction, industry and other off road vehicles hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Free Zones (X units) was the main destination for exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Jordan, with a 77% share of total exports. Moreover, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles to Free Zones exceeded the volume sent to the second major destination, Syrian Arab Republic (X units), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Free Zones stood at -17.8%.

In value terms, Free Zones ($X) remains the key foreign market for tyres for agriculture, forestry, construction, industry and other off the road vehicles exports from Jordan, comprising 86% of total exports. The second position in the ranking was taken by Syrian Arab Republic ($X), with a 13% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Free Zones amounted to -11.8%.

Export Prices by Country

In 2022, the average export price for tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X per unit, with a decrease of -36.2% against the previous year. In general, the export price, however, continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2018 an increase of 180%. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then declined sharply in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Free Zones ($X per unit), while the average price for exports to Syrian Arab Republic stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Free Zones (+7.3%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles

Imports into Jordan

In 2022, after two years of growth, there was significant decline in purchases abroad of tyres for agriculture, forestry, construction, industry and other off the road vehicles, when their volume decreased by -47.4% to X units. In general, imports recorded a deep reduction. The growth pace was the most rapid in 2021 when imports increased by 42% against the previous year. Over the period under review, imports of tyres for agriculture, forestry, construction, industry and other off road vehicles reached the peak figure at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles declined to $X in 2022. Over the period under review, imports saw a abrupt decline. The most prominent rate of growth was recorded in 2021 when imports increased by 63% against the previous year. Over the period under review, imports of tyres for agriculture, forestry, construction, industry and other off road vehicles hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Japan (X units) constituted the largest supplier of agricultural, construction and industrial machinery tyre to Jordan, accounting for a 63% share of total imports. Moreover, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Japan exceeded the figures recorded by the second-largest supplier, China (X units), threefold. The third position in this ranking was taken by India (X units), with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Japan amounted to -11.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-25.0% per year) and India (-11.6% per year).

In value terms, China ($X) constituted the largest supplier of tyres for agriculture, forestry, construction, industry and other off the road vehicles to Jordan, comprising 39% of total imports. The second position in the ranking was held by Japan ($X), with a 17% share of total imports. It was followed by India, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled -2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-12.4% per year) and India (+3.2% per year).

Import Prices by Country

The average import price for tyres for agriculture, forestry, construction, industry and other off the road vehicles stood at $X per unit in 2022, growing by 68% against the previous year. Over the period under review, the import price saw buoyant growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per unit), while the price for Algeria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+29.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform