Myanmar: 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 Myanmar

The Myanmar's market for tyres for agriculture, forestry, construction, industry and other off the road vehicles surged to $X in 2022, jumping by 73% 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, consumption, however, continues to indicate a abrupt downturn. Consumption of peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

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

Exports from Myanmar

In 2020, overseas shipments of tyres for agriculture, forestry, construction, industry and other off the road vehicles decreased by -75% to X units, falling for the second year in a row after five years of growth. Over the period under review, exports recorded a perceptible downturn. The most prominent rate of growth was recorded in 2018 when exports increased by 810%. As a result, the exports attained the peak of X units. From 2019 to 2020, 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 dropped rapidly to $X in 2020. Overall, exports recorded a abrupt setback. The growth pace was the most rapid in 2017 with an increase of 517% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2020, the exports remained at a lower figure.

Exports by Country

Spain (X units) was the main destination for exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Myanmar, accounting for a approx. 50% share of total exports.

From 2012 to 2020, the average annual rate of growth in terms of volume to Spain was relatively modest.

In value terms, Spain ($X) emerged as the key foreign market for tyres for agriculture, forestry, construction, industry and other off the road vehicles exports from Myanmar.

From 2012 to 2020, the average annual rate of growth in terms of value to Spain was relatively modest.

Export Prices by Country

The average export price for tyres for agriculture, forestry, construction, industry and other off the road vehicles stood at $X per unit in 2020, falling by -62% against the previous year. Overall, the export price continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2019 when the average export price increased by 319%. The export price peaked at $X per unit in 2012; however, from 2013 to 2020, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Spain.

From 2012 to 2020, the rate of growth in terms of prices for Poland amounted to 0.0% per year.

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

Imports into Myanmar

In 2022, the amount of tyres for agriculture, forestry, construction, industry and other off the road vehicles imported into Myanmar soared to X units, increasing by 75% on 2021. Over the period under review, imports, however, recorded a deep contraction. The pace of growth was the most pronounced in 2015 when imports increased by 231%. Imports peaked at X units in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles skyrocketed to $X in 2022. In general, imports, however, continue to indicate a deep contraction. The pace of growth was the most pronounced in 2013 when imports increased by 156%. Over the period under review, imports of tyres for agriculture, forestry, construction, industry and other off road vehicles attained the maximum at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest agricultural, construction and industrial machinery tyre supplier to Myanmar, accounting for a 71% share of total imports. Moreover, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), fourfold. The third position in this ranking was taken by India (X units), with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-17.9% per year) and India (+16.2% per year).

In value terms, China ($X) constituted the largest supplier of tyres for agriculture, forestry, construction, industry and other off the road vehicles to Myanmar, comprising 54% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 21% share of total imports. It was followed by India, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at -5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+30.9% per year) and India (+7.8% per year).

Import Prices by Country

In 2022, the average import price for tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X per unit, which is down by -23.6% against the previous year. Overall, the import price, however, continues to indicate tangible growth. The pace of growth appeared the most rapid in 2018 when the average import price increased by 203%. Over the period under review, average import prices hit record highs at $X per unit in 2014; however, from 2015 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 Japan ($X per unit), while the price for Thailand ($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 (+21.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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