Peru: Passenger Car Tyre Market 2024

Passenger Car Tyre Market Size in Peru

In 2021, after two years of decline, there was significant growth in the Peruvian passenger car tyre market, when its value increased by 119% to $X. Overall, the total consumption indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -15.9% against 2018 indices. Passenger car tyre consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Passenger Car Tyre Production in Peru

In value terms, passenger car tyre production skyrocketed to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when the production volume increased by 21% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Passenger Car Tyre Exports

Exports from Peru

In 2021, overseas shipments of tyres for motor cars decreased by -31.1% to X units for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports, however, showed a buoyant expansion. The growth pace was the most rapid in 2019 when exports increased by 126% against the previous year. The exports peaked at X units in 2020, and then fell rapidly in the following year.

In value terms, passenger car tyre exports shrank sharply to $X in 2021. Overall, exports, however, saw strong growth. The most prominent rate of growth was recorded in 2019 when exports increased by 85%. The exports peaked at $X in 2020, and then reduced rapidly in the following year.

Exports by Country

Mexico (X units) was the main destination for passenger car tyre exports from Peru, with a 66% share of total exports. Moreover, passenger car tyre exports to Mexico exceeded the volume sent to the second major destination, Chile (X units), sixfold. The third position in this ranking was taken by Colombia (X units), with a 9.7% share.

From 2012 to 2021, the average annual growth rate of volume to Mexico amounted to +24.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+29.4% per year) and Colombia (+0.1% per year).

In value terms, Mexico ($X) remains the key foreign market for tyres for motor cars exports from Peru, comprising 58% of total exports. The second position in the ranking was held by Chile ($X), with a 13% share of total exports. It was followed by Colombia, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to Mexico amounted to +19.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+22.0% per year) and Colombia (-3.0% per year).

Export Prices by Country

In 2021, the average passenger car tyre export price amounted to $X per unit, with an increase of 23% against the previous year. In general, the export price, however, showed a noticeable decrease. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Brazil ($X per unit), while the average price for exports to Mexico ($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 Brazil (+8.0%), while the prices for the other major destinations experienced more modest paces of growth.

Passenger Car Tyre Imports

Imports into Peru

After two years of decline, purchases abroad of tyres for motor cars increased by 29% to X units in 2021. Overall, total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +8.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 with an increase of 40% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, passenger car tyre imports soared to $X in 2021. In general, total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained 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 Peru, accounting for a 75% share of total imports. Moreover, passenger car tyre imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X units), more than tenfold. The third position in this ranking was held by Thailand (X units), with a 5.2% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +14.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+24.2% per year) and Thailand (+4.4% per year).

In value terms, China ($X) constituted the largest supplier of tyres for motor cars to Peru, comprising 60% of total imports. The second position in the ranking was taken by Thailand ($X), with an 8.4% share of total imports. It was followed by Brazil, with an 8.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+6.6% per year) and Brazil (+20.0% per year).

Import Prices by Country

The average passenger car tyre import price stood at $X per unit in 2021, jumping by 32% against the previous year. Overall, the import price, however, continues to indicate a pronounced setback. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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