Jordan: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in Jordan

The Jordanian truck and bus tyre market fell to $X in 2022, with a decrease of -10.5% against the previous year. In general, the total consumption indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +5.3% against 2020 indices. Truck and bus tyre consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Tyres For Buses Or Lorries in Jordan

In value terms, truck and bus tyre production contracted to $X in 2022 estimated in export price. Overall, production, however, enjoyed strong growth. The pace of growth appeared the most rapid in 2017 with an increase of 213%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Exports of Tyres For Buses Or Lorries

Exports from Jordan

Truck and bus tyre exports from Jordan shrank rapidly to X units in 2022, with a decrease of -71.7% compared with the year before. Over the period under review, exports showed a deep contraction. The growth pace was the most rapid in 2016 with an increase of 1,504% against the previous year. Over the period under review, the exports attained the maximum at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, truck and bus tyre exports reduced remarkably to $X in 2022. In general, exports saw a abrupt contraction. The most prominent rate of growth was recorded in 2016 with an increase of 978%. Over the period under review, the exports reached the maximum at $X in 2021, and then declined remarkably in the following year.

Exports by Country

Free Zones (X units) was the main destination for truck and bus tyre exports from Jordan, with a 92% share of total exports. Moreover, truck and bus tyre exports to Free Zones exceeded the volume sent to the second major destination, Syrian Arab Republic (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Free Zones totaled -5.7%.

In value terms, Free Zones ($X) remains the key foreign market for tyres for buses or lorries exports from Jordan, comprising 92% of total exports. The second position in the ranking was held by Syrian Arab Republic ($X), with a 7.8% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Free Zones totaled -5.3%.

Export Prices by Country

In 2022, the average truck and bus tyre export price amounted to $X per unit, surging by 15% against the previous year. Overall, the export price continues to indicate a slight expansion. The pace of growth appeared the most rapid in 2018 when the average export price increased by 1,614%. The export price peaked in 2022 and is likely to continue growth in the near future.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Syrian Arab Republic ($X per unit), while the average price for exports to Free Zones amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Free Zones (+0.4%).

Imports of Tyres For Buses Or Lorries

Imports into Jordan

In 2022, overseas purchases of tyres for buses or lorries decreased by -16.8% to X units, falling for the second consecutive year after two years of growth. Overall, imports saw a perceptible decrease. The growth pace was the most rapid in 2020 with an increase of 40% against the previous year. Over the period under review, imports reached the peak figure at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, truck and bus tyre imports shrank dramatically to $X in 2022. Over the period under review, imports recorded a pronounced reduction. The pace of growth appeared the most rapid in 2019 when imports increased by 29% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of truck and bus tyre to Jordan, accounting for a 57% share of total imports. Moreover, truck and bus tyre imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), fourfold. Thailand (X units) ranked third in terms of total imports with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-6.5% per year) and Thailand (+12.4% per year).

In value terms, China ($X) constituted the largest supplier of tyres for buses or lorries to Jordan, comprising 57% of total imports. The second position in the ranking was taken by Japan ($X), with a 15% share of total imports. It was followed by Thailand, with a 7.7% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-7.2% per year) and Thailand (+11.5% per year).

Import Prices by Country

In 2022, the average truck and bus tyre import price amounted to $X per unit, picking up by 2.1% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 27%. Over the period under review, average import prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Indonesia ($X per unit) and Egypt ($X per unit), while the price for the Czech Republic ($X per unit) and Poland ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-0.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform