Mexico: Market for Tyres For Buses Or Lorries 2025

Market Size for Tyres For Buses Or Lorries in Mexico

The Mexican truck and bus tyre market soared to $X in 2022, jumping by 24% 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). Over the period under review, the total consumption indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +3.0% 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 +60.5% against 2020 indices. Truck and bus tyre consumption peaked in 2022 and is expected to retain growth in the immediate term.

Exports of Tyres For Buses Or Lorries

Exports from Mexico

In 2022, approx. X units of tyres for buses or lorries were exported from Mexico; picking up by 57% on 2021 figures. In general, exports posted prominent growth. The pace of growth was the most pronounced in 2021 with an increase of 100% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, truck and bus tyre exports surged to $X in 2022. Over the period under review, exports enjoyed a resilient increase. The growth pace was the most rapid in 2017 when exports increased by 95% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.

Exports by Country

The United States (X units) was the main destination for truck and bus tyre exports from Mexico, accounting for a 94% share of total exports. It was followed by Ecuador (X units), with a 2.6% share of total exports. Colombia (X units) ranked third in terms of total exports with a 0.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +21.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+8.6% per year) and Colombia (-11.3% per year).

In value terms, the United States ($X) remains the key foreign market for tyres for buses or lorries exports from Mexico, comprising 94% of total exports. The second position in the ranking was held by Ecuador ($X), with a 2.4% share of total exports. It was followed by Colombia, with a 0.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +20.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+7.9% per year) and Colombia (-19.6% per year).

Export Prices by Country

In 2022, the average truck and bus tyre export price amounted to $X per unit, surging by 8.4% against the previous year. In general, the export price, however, showed a noticeable downturn. The most prominent rate of growth was recorded in 2017 an increase of 20%. Over the period under review, the average export prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Brazil ($X per unit) and the United States ($X per unit), while the average price for exports to Colombia ($X per unit) and Ecuador ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ecuador (-0.7%), while the prices for the other major destinations experienced a decline.

Imports of Tyres For Buses Or Lorries

Imports into Mexico

In 2022, the amount of tyres for buses or lorries imported into Mexico soared to X units, rising by 36% against 2021. Overall, imports recorded a strong increase. The pace of growth was the most pronounced in 2019 when imports increased by 60%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, truck and bus tyre imports surged to $X in 2022. The total import value increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 39%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

China (X units), the United States (X units) and Canada (X units) were the main suppliers of truck and bus tyre imports to Mexico, with a combined 90% share of total imports. Brazil, Thailand and Vietnam lagged somewhat behind, together accounting for a further 7.5%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +45.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Canada ($X) appeared to be the largest truck and bus tyre suppliers to Mexico, with a combined 90% share of total imports. Brazil, Thailand and Vietnam lagged somewhat behind, together comprising a further 7.7%.

In terms of the main suppliers, Vietnam, with a CAGR of +44.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average truck and bus tyre import price stood at $X per unit in 2022, falling by -12.2% against the previous year. Over the period under review, the import price recorded a pronounced setback. The pace of growth was the most pronounced in 2015 an increase of 52% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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