SADC: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in SADC

In 2022, the SADC truck and bus tyre market increased by 6.3% to $X, rising for the second year in a row after two years of decline. In general, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Tyres For Buses Or Lorries in SADC

In value terms, truck and bus tyre production stood at $X in 2022 estimated in export price. Over the period under review, production, however, recorded a mild reduction. The growth pace was the most rapid in 2015 when the production volume increased by 56%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Tyres For Buses Or Lorries

Exports in SADC

In 2022, overseas shipments of tyres for buses or lorries increased by 17% to X units, rising for the third consecutive year after two years of decline. Over the period under review, exports, however, showed a slight curtailment. The growth pace was the most rapid in 2021 with an increase of 81% against the previous year. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, truck and bus tyre exports skyrocketed to $X in 2022. Overall, exports, however, showed a noticeable shrinkage. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The shipments of the one major exporters of tyres for buses or lorries, namely South Africa, represented more than two-thirds of total export.

South Africa experienced a relatively flat trend pattern with regard to volume of exports of tyres for buses or lorries. While the share of South Africa (+6 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) also remains the largest truck and bus tyre supplier in SADC.

In South Africa, truck and bus tyre exports shrank by an average annual rate of -4.4% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in SADC amounted to $X per unit, rising by 24% against the previous year. In general, the export price, however, recorded a noticeable descent. The growth pace was the most rapid in 2018 when the export price increased by 25% against the previous year. The level of export peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for South Africa.

From 2012 to 2022, the rate of growth in terms of prices for South Africa amounted to -3.7% per year.

Imports of Tyres For Buses Or Lorries

Imports in SADC

Truck and bus tyre imports surged to X units in 2022, jumping by 17% against the year before. Overall, imports saw modest growth. The most prominent rate of growth was recorded in 2021 with an increase of 29% against the previous year. The volume of import peaked in 2022 and is likely to see steady growth in years to come.

In value terms, truck and bus tyre imports dropped modestly to $X in 2022. Over the period under review, imports, however, showed a noticeable slump. The most prominent rate of growth was recorded in 2021 when imports increased by 30%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

South Africa represented the major importing country with an import of about X units, which amounted to 54% of total imports. It was distantly followed by Tanzania (X units), Zambia (X units), Zimbabwe (X units) and Angola (X units), together committing a 30% share of total imports. Madagascar (X units) and Democratic Republic of the Congo (X units) followed a long way behind the leaders.

Imports into South Africa increased at an average annual rate of +4.7% from 2012 to 2022. At the same time, Democratic Republic of the Congo (+5.7%), Zambia (+4.2%), Madagascar (+3.5%) and Zimbabwe (+3.1%) displayed positive paces of growth. Moreover, Democratic Republic of the Congo emerged as the fastest-growing importer imported in SADC, with a CAGR of +5.7% from 2012-2022. By contrast, Tanzania (-3.4%) and Angola (-6.8%) illustrated a downward trend over the same period. South Africa (+16 p.p.) significantly strengthened its position in terms of the total imports, while Angola and Tanzania saw its share reduced by -5.9% and -8.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X), Tanzania ($X) and Zimbabwe ($X) were the countries with the highest levels of imports in 2022, together comprising 67% of total imports.

Zimbabwe, with a CAGR of +3.4%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in SADC amounted to $X per unit, dropping by -16.8% against the previous year. Overall, the import price recorded a pronounced curtailment. The pace of growth was the most pronounced in 2015 when the import price increased by 13% against the previous year. As a result, import price attained the peak level of $X per unit. From 2016 to 2022, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Zimbabwe ($X per unit), while Madagascar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tanzania (+1.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform