Oman: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in Oman

The Omani truck and bus tyre market contracted to $X in 2022, falling by -4.8% 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). In general, consumption saw a noticeable downturn. The pace of growth appeared the most rapid in 2021 with an increase of 9.1% against the previous year. Truck and bus tyre consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Exports of Tyres For Buses Or Lorries

Exports from Oman

Truck and bus tyre exports from Oman skyrocketed to X units in 2022, growing by 28% compared with the previous year's figure. In general, exports posted a significant expansion. The growth pace was the most rapid in 2018 with an increase of 246% against the previous year. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, truck and bus tyre exports expanded significantly to $X in 2022. Overall, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 241%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X units), Somalia (X units) and Yemen (X units) were the main destinations of truck and bus tyre exports from Oman, together comprising 74% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Somalia (with a CAGR of +130.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for truck and bus tyre exported from Oman were the United Arab Emirates ($X), Somalia ($X) and Yemen ($X), with a combined 72% share of total exports.

Among the main countries of destination, Somalia, with a CAGR of +112.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average truck and bus tyre export price amounted to $X per unit, waning by -10.2% against the previous year. Over the period under review, the export price saw a noticeable curtailment. The most prominent rate of growth was recorded in 2017 an increase of 50%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Yemen ($X per unit) and Somalia ($X per unit), while the average price for exports to Qatar ($X per unit) and Sudan ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (-3.6%), while the prices for the other major destinations experienced a decline.

Imports of Tyres For Buses Or Lorries

Imports into Oman

After two years of decline, overseas purchases of tyres for buses or lorries increased by 0.7% to X units in 2022. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when imports increased by 19% against the previous year. Over the period under review, imports attained the peak figure at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, truck and bus tyre imports shrank to $X in 2022. Over the period under review, imports, however, showed a mild downturn. The most prominent rate of growth was recorded in 2021 with an increase of 7.2% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest truck and bus tyre supplier to Oman, with a 45% share of total imports. Moreover, truck and bus tyre imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X units), twofold. India (X units) ranked third in terms of total imports with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+3.9% per year) and India (+8.2% per year).

In value terms, China ($X) constituted the largest supplier of tyres for buses or lorries to Oman, comprising 49% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 20% share of total imports. It was followed by Thailand, with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-2.0% per year) and Thailand (+13.1% per year).

Import Prices by Country

The average truck and bus tyre import price stood at $X per unit in 2022, reducing by -4% against the previous year. In general, the import price saw a slight descent. The most prominent rate of growth was recorded in 2018 when the average import price increased by 25%. 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 Italy ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :