Peru: Market for Tyres For Buses Or Lorries 2025

Market Size for Tyres For Buses Or Lorries in Peru

The Peruvian truck and bus tyre market dropped to $X in 2022, waning by -12.7% 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). The market value increased at an average annual rate of +3.5% 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 of $X, and then reduced in the following year.

Exports of Tyres For Buses Or Lorries

Exports from Peru

Truck and bus tyre exports from Peru fell dramatically to X units in 2022, reducing by -24.2% compared with the previous year's figure. Over the period under review, exports saw a abrupt curtailment. The pace of growth was the most pronounced in 2021 with an increase of 384%. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, truck and bus tyre exports contracted significantly to $X in 2022. Overall, exports showed a deep contraction. The pace of growth appeared the most rapid in 2021 with an increase of 303% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Nicaragua (X units), Mexico (X units) and Colombia (X units) were the main destinations of truck and bus tyre exports from Peru, with a combined 48% share of total exports. Haiti, Guatemala, Brazil, Chile, Costa Rica, Canada, Bolivia, Panama, Ecuador and Trinidad and Tobago lagged somewhat behind, together accounting for a further 46%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Brazil (with a CAGR of +12.1%), while the other leaders experienced mixed trend patterns.

In value terms, Guatemala ($X), Colombia ($X) and Haiti ($X) constituted the largest markets for truck and bus tyre exported from Peru worldwide, with a combined 41% share of total exports. Costa Rica, Nicaragua, Mexico, Brazil, Bolivia, Chile, Canada, Ecuador, Panama and Trinidad and Tobago lagged somewhat behind, together accounting for a further 48%.

Among the main countries of destination, Brazil, with a CAGR of +10.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average truck and bus tyre export price amounted to $X per unit, waning by -17.6% against the previous year. Overall, the export price showed a abrupt contraction. The pace of growth was the most pronounced in 2019 an increase of 23%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Guatemala ($X per unit), while the average price for exports to Nicaragua ($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 Guatemala (+1.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Tyres For Buses Or Lorries

Imports into Peru

After two years of growth, overseas purchases of tyres for buses or lorries decreased by -9.4% to X units in 2022. Overall, total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +5.8% 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 +12.2% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 25% against the previous year. Imports peaked at X units in 2021, and then contracted in the following year.

In value terms, truck and bus tyre imports reduced to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 42% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest truck and bus tyre supplier to Peru, accounting for a 63% share of total imports. Moreover, truck and bus tyre imports from China exceeded the figures recorded by the second-largest supplier, India (X units), eightfold. Brazil (X units) ranked third in terms of total imports with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +9.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+3.1% per year) and Brazil (+8.1% per year).

In value terms, China ($X) constituted the largest supplier of tyres for buses or lorries to Peru, comprising 70% of total imports. The second position in the ranking was taken by Brazil ($X), with a 6.7% share of total imports. It was followed by India, with a 3.6% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-6.1% per year) and India (-8.8% per year).

Import Prices by Country

In 2022, the average truck and bus tyre import price amounted to $X per unit, declining by -6% against the previous year. In general, the import price continues to indicate a drastic downturn. The pace of growth was the most pronounced in 2021 when the average import price increased by 22% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat 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 Japan ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-3.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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