MENA: 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 MENA

The MENA's market for tyres for agriculture, forestry, construction, industry and other off the road vehicles contracted to $X in 2022, which is down by -6.8% against the previous year. In general, consumption continues to indicate a mild contraction. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Production of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles in MENA

In value terms, production of tyres for agriculture, forestry, construction, industry and other off the road vehicles fell notably to $X in 2022 estimated in export price. Overall, production, however, showed a buoyant expansion. The pace of growth appeared the most rapid in 2018 with an increase of 59% against the previous year. Over the period under review, production of tyres for agriculture, forestry, construction, industry and other off road vehicles hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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

Exports in MENA

In 2022, the amount of tyres for agriculture, forestry, construction, industry and other off the road vehicles exported in MENA declined to X units, which is down by -8.9% on the year before. Total exports indicated a notable increase from 2012 to 2022: its volume 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, exports increased by +14.8% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 47%. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles declined to $X in 2022. Total exports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +23.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 34%. As a result, the exports attained the peak of $X, and then dropped in the following year.

Exports by Country

In 2022, Turkey (X units) represented the key exporter of tyres for agriculture, forestry, construction, industry and other off the road vehicles, mixing up 78% of total exports. It was distantly followed by Israel (X units), mixing up an 18% share of total exports.

Exports from Turkey increased at an average annual rate of +3.0% from 2012 to 2022. At the same time, Israel (+24.2%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing exporter exported in MENA, with a CAGR of +24.2% from 2012-2022. Israel (+15 p.p.) significantly strengthened its position in terms of the total exports, while Turkey saw its share reduced by -8.4% from 2012 to 2022, respectively.

In value terms, Turkey ($X) remains the largest agricultural, construction and industrial machinery tyre supplier in MENA, comprising 66% of total exports. The second position in the ranking was taken by Israel ($X), with a 30% share of total exports.

In Turkey, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles expanded at an average annual rate of +1.6% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in MENA amounted to $X per unit, almost unchanged from the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the export price increased by 34% against the previous year. Over the period under review, the export prices reached the maximum at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Israel ($X per unit), while Turkey stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (-1.3%).

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

Imports in MENA

In 2022, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles in MENA shrank to X units, with a decrease of -12.7% compared with 2021. Overall, imports saw a pronounced setback. The most prominent rate of growth was recorded in 2016 with an increase of 11%. 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 failed to regain momentum.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles dropped to $X in 2022. Over the period under review, imports continue to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2021 when imports increased by 13% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Egypt (X units) and Turkey (X units) represented roughly 44% of total imports in 2022. The United Arab Emirates (X units) ranks next in terms of the total imports with a 14% share, followed by Morocco (7.2%), Iraq (7.1%), Israel (6.4%) and Algeria (5%).

From 2012 to 2022, the biggest increases were recorded for Morocco (with a CAGR of +8.0%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest agricultural, construction and industrial machinery tyre importing markets in MENA were Turkey ($X), the United Arab Emirates ($X) and Egypt ($X), together accounting for 50% of total imports. Israel, Morocco, Iraq and Algeria lagged somewhat behind, together accounting for a further 22%.

Israel, with a CAGR of +4.2%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in MENA stood at $X per unit in 2022, remaining constant against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 23%. Over the period under review, import prices attained the maximum at $X per unit in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+4.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform