Kenya: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in Kenya

After four years of growth, the Kenyan truck and bus tyre market decreased by -5.2% to $X in 2022. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2021, and then declined in the following year.

Exports of Tyres For Buses Or Lorries

Exports from Kenya

In 2022, overseas shipments of tyres for buses or lorries increased by 9.9% to X units for the first time since 2018, thus ending a three-year declining trend. Overall, exports, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2018 when exports increased by 1,625%. As a result, the exports attained the peak of X units. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, truck and bus tyre exports reached $X in 2022. Over the period under review, exports, however, faced a deep contraction. The pace of growth appeared the most rapid in 2018 with an increase of 1,646% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

South Sudan (X units), Burundi (X units) and Uganda (X units) were the main destinations of truck and bus tyre exports from Kenya, with a combined 58% share of total exports. Democratic Republic of the Congo, Malawi, Rwanda, Ethiopia, Sudan and Tanzania lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2022, the biggest increases were recorded for Malawi (with a CAGR of +21.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, South Sudan ($X), Malawi ($X) and Uganda ($X) constituted the largest markets for truck and bus tyre exported from Kenya worldwide, with a combined 80% share of total exports.

Malawi, with a CAGR of +17.8%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average truck and bus tyre export price stood at $X per unit in 2022, which is down by -8.5% against the previous year. Over the period under review, the export price saw a perceptible decline. The pace of growth was the most pronounced in 2020 an increase of 70% against the previous year. 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 Sudan ($X per unit), while the average price for exports to Burundi ($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 Sudan (+15.5%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Tyres For Buses Or Lorries

Imports into Kenya

In 2022, approx. X units of tyres for buses or lorries were imported into Kenya; falling by -4.8% against the previous year's figure. Overall, total imports indicated a notable increase from 2012 to 2022: its volume increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +2.3% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of 20%. Imports peaked at X units in 2021, and then dropped slightly in the following year.

In value terms, truck and bus tyre imports reduced to $X in 2022. Over the period under review, imports showed a slight shrinkage. The growth pace was the most rapid in 2020 when imports increased by 24%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of truck and bus tyre to Kenya, with a 58% share of total imports. Moreover, truck and bus tyre imports from China exceeded the figures recorded by the second-largest supplier, India (X units), fivefold. The third position in this ranking was held by Thailand (X units), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+11.7% per year) and Thailand (+26.0% per year).

In value terms, China ($X) constituted the largest supplier of tyres for buses or lorries to Kenya, comprising 71% of total imports. The second position in the ranking was held by Thailand ($X), with a 7.7% share of total imports. It was followed by India, with a 6.5% share.

From 2012 to 2022, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+22.7% per year) and India (+0.8% per year).

Import Prices by Country

The average truck and bus tyre import price stood at $X per unit in 2022, standing approx. at the previous year. Over the period under review, the import price recorded a pronounced descent. The most prominent rate of growth was recorded in 2020 an increase of 33%. The 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 origin: amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for the United Arab Emirates ($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 (-1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :