Middle East: 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 the Middle East

The Middle Eastern market for tyres for agriculture, forestry, construction, industry and other off the road vehicles fell to $X in 2022, shrinking by -6.7% against the previous year. Over the period under review, consumption showed a mild shrinkage. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

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

In value terms, production of tyres for agriculture, forestry, construction, industry and other off the road vehicles declined markedly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded prominent growth. The growth pace was the most rapid in 2017 when the production volume increased by 63% against the previous year. Over the period under review, production of tyres for agriculture, forestry, construction, industry and other off road vehicles reached the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

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

Exports in the Middle East

In 2022, the amount of tyres for agriculture, forestry, construction, industry and other off the road vehicles exported in the Middle East contracted to X units, waning by -9% on 2021 figures. Total exports indicated a perceptible expansion 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 +14.7% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 47% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles shrank to $X in 2022. Total exports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.2% 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 +23.8% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 34%. As a result, the exports reached the peak of $X, and then dropped in the following year.

Exports by Country

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

From 2012 to 2022, average annual rates of growth with regard to agricultural, construction and industrial machinery tyre exports from Turkey stood at +3.0%. At the same time, Israel (+24.2%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +24.2% from 2012-2022. While the share of Israel (+15 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Turkey (-9.2 p.p.) displayed negative dynamics.

In value terms, Turkey ($X) remains the largest agricultural, construction and industrial machinery tyre supplier in the Middle East, comprising 67% of total exports. The second position in the ranking was held by Israel ($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 the Middle East amounted to $X per unit, approximately equating the previous year. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 34% against the previous year. Over the period under review, the export prices reached the peak figure 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 the Middle East

Imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles declined to X units in 2022, with a decrease of -12.7% compared with the year before. In general, imports continue to indicate a pronounced shrinkage. The growth pace was the most rapid in 2021 with an increase of 34%. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles declined to $X in 2022. Over the period under review, imports showed a deep setback. The most prominent rate of growth was recorded in 2021 when imports increased by 16%. Over the period under review, imports of tyres for agriculture, forestry, construction, industry and other off road vehicles reached the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Turkey (X units), distantly followed by the United Arab Emirates (X units), Iraq (X units), Israel (X units) and Lebanon (X units) were the major importers of tyres for agriculture, forestry, construction, industry and other off the road vehicles, together making up 82% of total imports. Syrian Arab Republic (X units) and Bahrain (X units) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Israel (with a CAGR of +7.4%), while imports 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 the Middle East were Turkey ($X), the United Arab Emirates ($X) and Israel ($X), with a combined 59% share of total imports.

Among the main importing countries, Israel, with a CAGR of +4.2%, recorded the highest growth rate of 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 import price in the Middle East stood at $X per unit in 2022, remaining constant against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the import price increased by 32% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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