New Zealand: Passenger Car Tyre Market 2024

Passenger Car Tyre Market Size in New Zealand

In 2021, after three years of decline, there was significant growth in the New Zealand passenger car tyre market, when its value increased by 44% to $X. The market value increased at an average annual rate of +1.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Passenger Car Tyre Exports

Exports from New Zealand

In 2021, shipments abroad of tyres for motor cars decreased by -4.9% to X units, falling for the fourth year in a row after two years of growth. In general, exports, however, recorded a modest increase. The most prominent rate of growth was recorded in 2016 when exports increased by 344% against the previous year. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, passenger car tyre exports fell slightly to $X in 2021. Over the period under review, exports, however, showed a prominent expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 650%. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Australia (X units), Cook Islands (X units) and Belgium (X units) were the main destinations of passenger car tyre exports from New Zealand, with a combined 70% share of total exports. These countries were followed by the Netherlands, Germany, Samoa, Niue, Latvia, the United States, Fiji, Norfolk Island, Hong Kong SAR and French Polynesia, which together accounted for a further 28%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +104.5%), while the other leaders experienced more modest paces of growth.

In value terms, Australia ($X) emerged as the key foreign market for tyres for motor cars exports from New Zealand, comprising 42% of total exports. The second position in the ranking was held by Cook Islands ($X), with an 18% share of total exports. It was followed by the Netherlands, with a 7.5% share.

From 2012 to 2021, the average annual growth rate of value to Australia amounted to +9.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cook Islands (+7.1% per year) and the Netherlands (+93.0% per year).

Export Prices by Country

The average passenger car tyre export price stood at $X per unit in 2021, surging by 3.6% against the previous year. Over the period under review, export price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, passenger car tyre export price increased by +8.5% against 2019 indices. The growth pace was the most rapid in 2016 an increase of 69%. The export price peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Fiji ($X per unit), while the average price for exports to Norfolk Island ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Fiji (+15.7%), while the prices for the other major destinations experienced more modest paces of growth.

Passenger Car Tyre Imports

Imports into New Zealand

In 2021, supplies from abroad of tyres for motor cars was finally on the rise to reach X units for the first time since 2017, thus ending a three-year declining trend. The total import volume increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when imports increased by 64%. Over the period under review, imports attained the maximum in 2021 and are likely to see gradual growth in the immediate term.

In value terms, passenger car tyre imports surged to $X in 2021. The total import value increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of passenger car tyre to New Zealand, with a 53% share of total imports. Moreover, passenger car tyre imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), threefold. The third position in this ranking was held by Indonesia (X units), with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+6.7% per year) and Indonesia (-6.9% per year).

In value terms, China ($X) constituted the largest supplier of tyres for motor cars to New Zealand, comprising 40% of total imports. The second position in the ranking was held by Thailand ($X), with an 18% share of total imports. It was followed by South Korea, with a 6.9% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+5.6% per year) and South Korea (-3.3% per year).

Import Prices by Country

In 2021, the average passenger car tyre import price amounted to $X per unit, surging by 18% against the previous year. In general, the import price, however, recorded a slight slump. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+0.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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