Libya: 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 Libya

The Libyan market for tyres for agriculture, forestry, construction, industry and other off the road vehicles expanded slightly to $X in 2022, surging by 2.8% 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). In general, consumption continues to indicate a abrupt descent. Consumption of peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

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

Exports from Libya

In 2018, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Libya stood at X units, approximately mirroring the year before. Overall, exports continue to indicate a precipitous setback. The smallest decline of -30.3% was in 2016. The exports peaked at X units in 2015; however, from 2016 to 2018, the exports stood at a somewhat lower figure.

In value terms, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles reduced modestly to $X in 2018. Over the period under review, exports recorded a precipitous contraction. The exports peaked at $X in 2015; however, from 2016 to 2018, the exports stood at a somewhat lower figure.

Exports by Country

Egypt (X units) was the main destination for exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Libya, with a approx. 100% share of total exports.

From 2015 to 2018, the average annual rate of growth in terms of volume to Egypt was relatively modest.

In value terms, Egypt ($X) emerged as the key foreign market for tyres for agriculture, forestry, construction, industry and other off the road vehicles exports from Libya.

From 2015 to 2018, the average annual growth rate of value to Egypt was relatively modest.

Export Prices by Country

In 2018, the average export price for tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X per unit, waning by -4% against the previous year. Over the period under review, export price indicated a noticeable expansion from 2015 to 2018: its price increased at an average annual rate of +2.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, export price for tyres for agriculture, forestry, construction, industry and other off the road vehicles increased by +47.0% against 2016 indices. The most prominent rate of growth was recorded in 2017 an increase of 53% against the previous year. As a result, the export price attained the peak level of $X per unit, and then contracted slightly in the following year.

As there is only one major export destination, the average price level is determined by prices for Egypt.

From 2015 to 2018, the rate of growth in terms of prices for Sudan amounted to +6.5% per year.

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

Imports into Libya

In 2022, the amount of tyres for agriculture, forestry, construction, industry and other off the road vehicles imported into Libya declined to X units, which is down by -12.5% against the previous year's figure. In general, imports faced a drastic downturn. The growth pace was the most rapid in 2017 when imports increased by 188%. Over the period under review, imports of tyres for agriculture, forestry, construction, industry and other off road vehicles hit record highs at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles skyrocketed to $X in 2022. Overall, imports saw a abrupt decrease. The growth pace was the most rapid in 2017 with an increase of 93% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Turkey (X units), China (X units) and India (X units) were the main suppliers of imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles to Libya, with a combined 98% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of -12.7%), while purchases for the other leaders experienced a decline.

In value terms, Turkey ($X), China ($X) and India ($X) constituted the largest agricultural, construction and industrial machinery tyre suppliers to Libya, with a combined 93% share of total imports.

Turkey, with a CAGR of -7.9%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

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 37% against the previous year. In general, import price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the average import price increased by 63%. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+21.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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