South Africa: 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 South Africa

In 2022, the South African market for tyres for agriculture, forestry, construction, industry and other off the road vehicles increased by 4.6% to $X, rising for the sixth consecutive year after two years of decline. Overall, consumption recorded a relatively flat trend pattern. Consumption of peaked in 2022 and is likely to see steady growth in the near future.

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

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. In general, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 20%. Production of peaked at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

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

Exports from South Africa

Exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from South Africa reduced to X units in 2022, shrinking by -5.1% compared with 2021 figures. Overall, exports showed a drastic downturn. The pace of growth appeared the most rapid in 2021 with an increase of 59% against the previous year. Over the period under review, the exports of tyres for agriculture, forestry, construction, industry and other off road vehicles hit record highs at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles rose notably to $X in 2022. Over the period under review, exports continue to indicate a abrupt descent. The pace of growth appeared the most rapid in 2017 when exports increased by 59% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X units), Namibia (X units) and Zambia (X units) were the main destinations of exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from South Africa, together accounting for 47% 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 China (with a CAGR of +178.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for agricultural, construction and industrial machinery tyre exported from South Africa were Democratic Republic of the Congo ($X), Zimbabwe ($X) and Namibia ($X), together accounting for 46% of total exports. Botswana, Zambia, China, Mozambique, Lesotho, Swaziland and Angola lagged somewhat behind, together accounting for a further 39%.

Among the main countries of destination, China, with a CAGR of +173.2%, 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 a decline.

Export Prices by Country

The average export price for tyres for agriculture, forestry, construction, industry and other off the road vehicles stood at $X per unit in 2022, increasing by 16% against the previous year. Over the period under review, the export price, however, recorded a mild contraction. The most prominent rate of growth was recorded in 2017 an increase of 72% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Democratic Republic of the Congo ($X per unit), while the average price for exports to Mozambique ($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 Democratic Republic of the Congo (+17.5%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into South Africa

In 2022, approx. X units of tyres for agriculture, forestry, construction, industry and other off the road vehicles were imported into South Africa; with an increase of 22% on the previous year's figure. Over the period under review, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 51%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles soared to $X in 2022. In general, total imports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.9% 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 +62.1% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), India (X units) and Japan (X units) were the main suppliers of imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles to South Africa, together accounting for 77% of total imports. Luxembourg, the Czech Republic, the United States and Sri Lanka lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2022, the biggest increases were recorded for Luxembourg (with a CAGR of +16.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Japan ($X) constituted the largest agricultural, construction and industrial machinery tyre suppliers to South Africa, with a combined 62% share of total imports. India, Luxembourg, the Czech Republic and Sri Lanka lagged somewhat behind, together comprising a further 17%.

The Czech Republic, with a CAGR of +15.7%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for tyres for agriculture, forestry, construction, industry and other off the road vehicles stood at $X per unit in 2022, picking up by 7.5% against the previous year. Overall, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for tyres for agriculture, forestry, construction, industry and other off the road vehicles decreased by -30.3% against 2019 indices. The most prominent rate of growth was recorded in 2018 when the average import price increased by 39% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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 the United States ($X per unit), while the price for Sri Lanka ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Zimbabwe (+60.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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