Malaysia: Market for Tyres For Buses Or Lorries 2025

Market Size for Tyres For Buses Or Lorries in Malaysia

After four years of growth, the Malaysian truck and bus tyre market decreased by -2.3% to $X in 2022. Overall, consumption recorded a relatively flat trend pattern. Truck and bus tyre consumption peaked at $X in 2021, and then shrank in the following year.

Production of Tyres For Buses Or Lorries in Malaysia

In value terms, truck and bus tyre production totaled $X in 2022 estimated in export price. In general, production, however, continues to indicate a pronounced slump. The pace of growth appeared the most rapid in 2019 with an increase of 47%. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Exports of Tyres For Buses Or Lorries

Exports from Malaysia

In 2022, shipments abroad of tyres for buses or lorries decreased by -23.8% to X units for the first time since 2018, thus ending a three-year rising trend. In general, exports continue to indicate a noticeable reduction. The pace of growth appeared the most rapid in 2021 with an increase of 67%. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, truck and bus tyre exports shrank markedly to $X in 2022. Overall, exports, however, continue to indicate a mild expansion. The pace of growth was the most pronounced in 2021 with an increase of 104% against the previous year. As a result, the exports attained the peak of $X, and then reduced rapidly in the following year.

Exports by Country

Brazil (X units), the United States (X units) and Indonesia (X units) were the main destinations of truck and bus tyre exports from Malaysia, with a combined 76% share of total exports. Poland, Australia, Lithuania, Thailand, Germany, Taiwan (Chinese), Vietnam, Singapore and the Philippines lagged somewhat behind, together comprising a further 9.7%.

From 2012 to 2022, the biggest increases were recorded for Lithuania (with a CAGR of +62.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) remains the key foreign market for tyres for buses or lorries exports from Malaysia, comprising 51% of total exports. The second position in the ranking was taken by the United States ($X), with a 22% share of total exports. It was followed by Indonesia, with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Brazil totaled +19.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+20.5% per year) and Indonesia (-1.9% per year).

Export Prices by Country

In 2022, the average truck and bus tyre export price amounted to $X per unit, falling by -2.3% against the previous year. Overall, export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, truck and bus tyre export price increased by +67.5% against 2017 indices. The growth pace was the most rapid in 2021 an increase of 22% against the previous year. As a result, the export price attained the peak level of $X per unit, and then contracted modestly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($X per unit), while the average price for exports to Vietnam ($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 Taiwan (Chinese) (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tyres For Buses Or Lorries

Imports into Malaysia

In 2022, after two years of growth, there was significant decline in overseas purchases of tyres for buses or lorries, when their volume decreased by -5.2% to X units. Over the period under review, imports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2015 when imports increased by 26% against the previous year. Imports peaked at X units in 2021, and then reduced in the following year.

In value terms, truck and bus tyre imports fell to $X in 2022. Overall, imports, however, saw a buoyant increase. The pace of growth appeared the most rapid in 2018 with an increase of 30%. Over the period under review, imports reached the peak figure at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of truck and bus tyre to Malaysia, with a 58% share of total imports. Moreover, truck and bus tyre imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), twofold. The third position in this ranking was taken by Vietnam (X units), with a 7.9% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +15.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+2.2% per year) and Vietnam (+2.0% per year).

In value terms, China ($X) constituted the largest supplier of tyres for buses or lorries to Malaysia, comprising 69% of total imports. The second position in the ranking was held by Thailand ($X), with a 17% share of total imports. It was followed by Japan, with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +22.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-2.8% per year) and Japan (+1.6% per year).

Import Prices by Country

In 2022, the average truck and bus tyre import price amounted to $X per unit, shrinking by -5.3% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average import price increased by 18%. Over the period under review, average import prices hit record highs at $X per unit in 2021, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per unit), while the price for Indonesia ($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 (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :