MENA: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in MENA

The MENA's truck and bus tyre market fell modestly to $X in 2022, dropping by -4.1% against the previous year. In general, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Production of Tyres For Buses Or Lorries in MENA

In value terms, truck and bus tyre production shrank to $X in 2022 estimated in export price. Overall, production, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 73% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Tyres For Buses Or Lorries

Exports in MENA

In 2022, approx. X units of tyres for buses or lorries were exported in MENA; waning by -3% against the previous year. The total export volume increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 23%. As a result, the exports reached the peak of X units, and then fell slightly in the following year.

In value terms, truck and bus tyre exports reached $X in 2022. Total exports indicated a moderate 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, exports increased by +45.7% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 31%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

Turkey prevails in exports structure, reaching X units, which was near 88% of total exports in 2022. It was distantly followed by Egypt (X units), constituting an 8.6% share of total exports. The United Arab Emirates (X units) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to truck and bus tyre exports from Turkey stood at +4.1%. At the same time, Egypt (+6.8%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing exporter exported in MENA, with a CAGR of +6.8% from 2012-2022. By contrast, the United Arab Emirates (-3.4%) illustrated a downward trend over the same period. While the share of Turkey (+4.7 p.p.) and Egypt (+2.3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (-2.3 p.p.) displayed negative dynamics.

In value terms, Turkey ($X) remains the largest truck and bus tyre supplier in MENA, comprising 81% of total exports. The second position in the ranking was taken by Egypt ($X), with a 14% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey stood at +3.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Egypt (+7.1% per year) and the United Arab Emirates (-5.6% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per unit, with an increase of 14% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The level of export peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Egypt ($X per unit), while Turkey ($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 (+0.3%), while the other leaders experienced a decline in the export price figures.

Imports of Tyres For Buses Or Lorries

Imports in MENA

For the third year in a row, MENA recorded decline in purchases abroad of tyres for buses or lorries, which decreased by -2.2% to X units in 2022. Overall, imports continue to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2016 with an increase of 23%. The volume of import peaked at X units in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, truck and bus tyre imports shrank to $X in 2022. In general, imports showed a perceptible decline. The pace of growth was the most pronounced in 2019 when imports increased by 16% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United Arab Emirates (X units), distantly followed by Turkey (X units), Iraq (X units), Egypt (X units), Algeria (X units) and Morocco (X units) were the largest importers of tyres for buses or lorries, together comprising 74% of total imports. Yemen (X units), Qatar (X units), Israel (X units), Oman (X units), Libya (X units), Iran (X units) and Kuwait (X units) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Iraq (with a CAGR of +6.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest truck and bus tyre importing markets in MENA were the United Arab Emirates ($X), Turkey ($X) and Iraq ($X), with a combined 42% share of total imports.

Iraq, with a CAGR of +5.7%, 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 more modest paces of growth.

Import Prices by Country

The import price in MENA stood at $X per unit in 2022, leveling off at the previous year. In general, the import price continues to indicate a mild descent. The growth pace was the most rapid in 2021 an increase of 14%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Egypt ($X per unit), while Qatar ($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 (+4.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform