New Zealand: 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 New Zealand

The New Zealand market for tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X in 2022, rising by 1.6% 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). Overall, the total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +2.5% 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 +47.9% against 2020 indices. Over the period under review, the market attained the maximum level in 2022 and is likely to see gradual growth in the near future.

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

Exports from New Zealand

Exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from New Zealand shrank remarkably to X units in 2022, reducing by -22.9% on 2021 figures. Overall, exports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2018 when exports increased by 271% against the previous year. As a result, the exports attained the peak of X units. From 2019 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles rose remarkably to $X in 2022. In general, exports recorded a deep slump. The most prominent rate of growth was recorded in 2018 with an increase of 302% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports of remained at a lower figure.

Exports by Country

Fiji (X units), Samoa (X units) and Cook Islands (X units) were the main destinations of exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from New Zealand, with a combined 50% share of total exports. Australia, American Samoa, the UK, Tuvalu, Norfolk Island, Italy, Vanuatu, Ukraine and Niue lagged somewhat behind, together accounting for a further 44%.

From 2012 to 2022, the biggest increases were recorded for Norfolk Island (with a CAGR of +32.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), Fiji ($X) and Italy ($X) were the largest markets for agricultural, construction and industrial machinery tyre exported from New Zealand worldwide, together accounting for 62% of total exports. Samoa, American Samoa, Cook Islands, Tuvalu, Vanuatu, the UK, Norfolk Island, Niue and Ukraine lagged somewhat behind, together comprising a further 24%.

Among the main countries of destination, Norfolk Island, with a CAGR of +34.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

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 2022, with an increase of 48% against the previous year. In general, the export price recorded a resilient increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to Cook Islands ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+24.7%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into New Zealand

In 2022, approx. X units of tyres for agriculture, forestry, construction, industry and other off the road vehicles were imported into New Zealand; dropping by -9.8% against the year before. In general, total imports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +24.4% against 2018 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 33%. As a result, imports attained the peak of X units, and then contracted in the following year.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles expanded markedly to $X in 2022. Overall, total imports indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +59.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 50%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X units) constituted the largest supplier of agricultural, construction and industrial machinery tyre to New Zealand, with a 39% 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, Indonesia (X units), twofold. The third position in this ranking was held by Thailand (X units), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+5.8% per year) and Thailand (+7.4% per year).

In value terms, the largest agricultural, construction and industrial machinery tyre suppliers to New Zealand were China ($X), India ($X) and Japan ($X), with a combined 49% share of total imports. Indonesia, Thailand, Vietnam and Taiwan (Chinese) lagged somewhat behind, together comprising a further 21%.

In terms of the main suppliers, Vietnam, with a CAGR of +53.9%, 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

In 2022, the average import price for tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X per unit, rising by 17% against the previous year. Overall, the import price, however, continues to indicate a perceptible reduction. The pace of growth was the most pronounced in 2018 when the average import price increased by 18%. The import price peaked at $X per unit in 2012; however, from 2013 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 India ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+16.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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