Oman: 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 Oman

The Omani market for tyres for agriculture, forestry, construction, industry and other off the road vehicles contracted remarkably to $X in 2022, shrinking by -25.6% against the previous year. Over the period under review, consumption saw a deep slump. Consumption of peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Production of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles in Oman

In value terms, production of tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. Production of peaked in 2022 and is likely to see steady growth in the near future.

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

Exports from Oman

Exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Oman expanded notably to X units in 2022, increasing by 7.7% compared with the year before. In general, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2017 with an increase of 3,015% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles dropped to $X in 2022. Overall, exports recorded buoyant growth. The pace of growth appeared the most rapid in 2017 when exports increased by 2,522% against the previous year. The exports peaked at $X in 2021, and then dropped in the following year.

Exports by Country

Somalia (X units) was the main destination for exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Oman, accounting for a 91% share of total exports. Moreover, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles to Somalia exceeded the volume sent to the second major destination, Yemen (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Somalia totaled +20.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Yemen (+313.4% per year) and the United Arab Emirates (-10.8% per year).

In value terms, Somalia ($X) remains the key foreign market for tyres for agriculture, forestry, construction, industry and other off the road vehicles exports from Oman, comprising 90% of total exports. The second position in the ranking was taken by Yemen ($X), with a 7.4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Somalia totaled +11.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Yemen (+177.9% per year) and the United Arab Emirates (-17.5% per year).

Export Prices by Country

In 2022, the average export price for tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X per unit, falling by -16.1% against the previous year. Over the period under review, the export price recorded a drastic downturn. The most prominent rate of growth was recorded in 2013 when the average export price increased by 22% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, the export prices remained at a 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 Yemen ($X per unit), while the average price for exports to the United Arab Emirates ($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 Somalia (-7.2%), while the prices for the other major destinations experienced a decline.

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

Imports into Oman

In 2022, approx. X units of tyres for agriculture, forestry, construction, industry and other off the road vehicles were imported into Oman; falling by -36% compared with the previous year. Overall, imports saw a abrupt downturn. The most prominent rate of growth was recorded in 2019 with an increase of 71% against the previous year. As a result, imports attained the peak of X units. From 2020 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles declined sharply to $X in 2022. Over the period under review, imports continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2019 with an increase of 40%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports of remained at a somewhat lower figure.

Imports by Country

India (X units), the United Arab Emirates (X units) and China (X units) were the main suppliers of imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles to Oman, with a combined 68% share of total imports. Singapore, South Korea, Brazil, Malaysia, Thailand, Vietnam, Japan, France and Sri Lanka lagged somewhat behind, together comprising a further 18%.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +41.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), China ($X) and the United Arab Emirates ($X) appeared to be the largest agricultural, construction and industrial machinery tyre suppliers to Oman, together comprising 77% of total imports. Japan, South Korea, Brazil, Thailand, Malaysia, Singapore, France, Vietnam and Sri Lanka lagged somewhat behind, together accounting for a further 15%.

Singapore, with a CAGR of +38.3%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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, which is down by -32% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 46%. As a result, import price attained the peak level of $X per unit. From 2021 to 2022, the average 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 China ($X per unit), while the price for Sri Lanka ($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 (+12.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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