New Zealand: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in New Zealand

The New Zealand truck and bus tyre market dropped slightly to $X in 2022, reducing by -2.3% 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 tangible growth from 2012 to 2022: its value increased at an average annual rate of +3.3% 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 +39.2% against 2020 indices. As a result, consumption attained the peak level of $X, and then contracted modestly in the following year.

Exports of Tyres For Buses Or Lorries

Exports from New Zealand

In 2022, overseas shipments of tyres for buses or lorries increased by 124% to X units, rising for the second consecutive year after two years of decline. In general, exports, however, showed a deep slump. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, truck and bus tyre exports surged to $X in 2022. Overall, exports, however, saw a deep setback. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Fiji (X units) was the main destination for truck and bus tyre exports from New Zealand, with a 67% share of total exports. Moreover, truck and bus tyre exports to Fiji exceeded the volume sent to the second major destination, Australia (X units), fivefold. China (X units) ranked third in terms of total exports with a 9.9% share.

From 2012 to 2022, the average annual growth rate of volume to Fiji totaled +12.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-20.2% per year) and China (+32.4% per year).

In value terms, Fiji ($X) remains the key foreign market for tyres for buses or lorries exports from New Zealand, comprising 51% of total exports. The second position in the ranking was taken by Australia ($X), with a 21% share of total exports. It was followed by China, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Fiji amounted to +16.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-16.9% per year) and China (+27.3% per year).

Export Prices by Country

In 2022, the average truck and bus tyre export price amounted to $X per unit, picking up by 6.1% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average export price increased by 34%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Tuvalu ($X per unit), while the average price for exports to Fiji ($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 New Caledonia (+18.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tyres For Buses Or Lorries

Imports into New Zealand

In 2022, imports of tyres for buses or lorries into New Zealand contracted to X units, with a decrease of -11.3% on the previous year. Over the period under review, total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +5.0% 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 +12.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 27%. As a result, imports reached the peak of X units, and then declined in the following year.

In value terms, truck and bus tyre imports contracted to $X in 2022. In general, total imports indicated a pronounced increase 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, imports increased by +45.7% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 46%. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of truck and bus tyre to New Zealand, with a 60% share of total imports. Moreover, truck and bus tyre imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), threefold. The third position in this ranking was taken by Japan (X units), with a 5.5% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +10.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+10.6% per year) and Japan (-7.3% per year).

In value terms, China ($X) constituted the largest supplier of tyres for buses or lorries to New Zealand, comprising 53% of total imports. The second position in the ranking was held by Thailand ($X), with a 23% share of total imports. It was followed by Japan, with a 6.8% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+8.9% per year) and Japan (-8.3% per year).

Import Prices by Country

In 2022, the average truck and bus tyre import price amounted to $X per unit, rising by 12% against the previous year. Over the period under review, the import price, however, recorded a slight decrease. The most prominent rate of growth was recorded in 2021 an increase of 15%. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (-1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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