Northern America: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in Northern America

The North American truck and bus tyre market skyrocketed to $X in 2022, growing by 22% against the previous year. The market value increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Tyres For Buses Or Lorries in Northern America

In value terms, truck and bus tyre production stood at $X in 2022 estimated in export price. Overall, production, however, recorded a mild shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 11%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Tyres For Buses Or Lorries

Exports in Northern America

In 2022, truck and bus tyre exports in Northern America declined to X units, stabilizing at the previous year. In general, exports recorded a noticeable decrease. The most prominent rate of growth was recorded in 2021 with an increase of 14%. The volume of export peaked at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, truck and bus tyre exports rose rapidly to $X in 2022. Over the period under review, exports continue to indicate a noticeable descent. The pace of growth was the most pronounced in 2021 when exports increased by 24%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, the United States (X units) was the key exporter of tyres for buses or lorries, generating 62% of total exports. It was distantly followed by Canada (X units), making up a 38% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of -2.9%).

In value terms, the United States ($X) remains the largest truck and bus tyre supplier in Northern America, comprising 67% of total exports. The second position in the ranking was taken by Canada ($X), with a 33% share of total exports.

In the United States, truck and bus tyre exports contracted by an average annual rate of -2.7% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per unit, increasing by 6.4% against the previous year. In general, the export price saw a mild expansion. The pace of growth was the most pronounced in 2018 an increase of 13%. Over the period under review, the export prices reached the peak figure in 2022 and is likely to see gradual growth in years to come.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while Canada amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+2.1%).

Imports of Tyres For Buses Or Lorries

Imports in Northern America

In 2022, purchases abroad of tyres for buses or lorries increased by 15% to X units, rising for the second consecutive year after two years of decline. Total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +6.1% 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 +42.6% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 24% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, truck and bus tyre imports skyrocketed to $X in 2022. Total imports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +4.3% 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 +62.8% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 28%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

In 2022, the United States (X units) represented the key importer of tyres for buses or lorries, creating 86% of total imports. It was distantly followed by Canada (X units), creating a 14% share of total imports.

The United States was also the fastest-growing in terms of the tyres for buses or lorries imports, with a CAGR of +6.4% from 2012 to 2022. At the same time, Canada (+4.3%) displayed positive paces of growth. While the share of the United States (+2.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Canada (-2.6 p.p.) displayed negative dynamics.

In value terms, the United States ($X) constitutes the largest market for imported tyres for buses or lorries in Northern America, comprising 84% of total imports. The second position in the ranking was held by Canada ($X), with a 16% share of total imports.

In the United States, truck and bus tyre imports increased at an average annual rate of +4.7% over the period from 2012-2022.

Import Prices by Country

The import price in Northern America stood at $X per unit in 2022, picking up by 11% against the previous year. Overall, the import price, however, recorded a mild curtailment. The most prominent rate of growth was recorded in 2014 an increase of 20% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per unit), while the United States totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-1.6%).

Source: IndexBox Platform

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