South-Eastern Asia: 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-Eastern Asia

The Southeast Asian market for tyres for agriculture, forestry, construction, industry and other off the road vehicles reduced to $X in 2022, declining by -3.6% against the previous year. In general, consumption, however, continues to indicate a noticeable decrease. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

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

In value terms, production of tyres for agriculture, forestry, construction, industry and other off the road vehicles dropped slightly to $X in 2022 estimated in export price. Overall, production recorded a slight reduction. The most prominent rate of growth was recorded in 2013 with an increase of 42%. As a result, production reached the peak level of $X. From 2014 to 2022, production of growth remained at a lower figure.

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

Exports in South-Eastern Asia

In 2022, shipments abroad of tyres for agriculture, forestry, construction, industry and other off the road vehicles decreased by -14.4% to X units for the first time since 2019, thus ending a two-year rising trend. Total exports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +43.9% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 50%. As a result, the exports reached the peak of X units, and then declined in the following year.

In value terms, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles totaled $X in 2022. Total exports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +136.8% against 2016 indices. The pace of growth was the most pronounced in 2021 with an increase of 45%. Over the period under review, the exports of tyres for agriculture, forestry, construction, industry and other off road vehicles hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

In 2022, Thailand (X units) represented the major exporter of tyres for agriculture, forestry, construction, industry and other off the road vehicles, comprising 74% of total exports. Vietnam (X units) ranks second in terms of the total exports with a 17% share, followed by Indonesia (7.5%).

From 2012 to 2022, average annual rates of growth with regard to agricultural, construction and industrial machinery tyre exports from Thailand stood at +3.6%. At the same time, Vietnam (+19.5%) and Indonesia (+8.5%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +19.5% from 2012-2022. Vietnam (+13 p.p.) and Indonesia (+2.2 p.p.) significantly strengthened its position in terms of the total exports, while Thailand saw its share reduced by -9.1% from 2012 to 2022, respectively.

In value terms, Thailand ($X), Vietnam ($X) and Indonesia ($X) were the countries with the highest levels of exports in 2022, together accounting for 88% of total exports.

Vietnam, with a CAGR of +20.5%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2022, surging by 27% against the previous year. Overall, the export price, however, showed a slight curtailment. The growth pace was the most rapid in 2017 when the export price increased by 34%. Over the period under review, the export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+5.7%), while the other leaders experienced mixed trends in the export price figures.

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

Imports in South-Eastern Asia

In 2022, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles in South-Eastern Asia skyrocketed to X units, picking up by 30% against 2021. Overall, imports, however, recorded a noticeable reduction. The pace of growth was the most pronounced in 2017 when imports increased by 42%. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles fell to $X in 2022. In general, imports, however, continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 when imports increased by 35% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Indonesia was the major importing country with an import of about X units, which finished at 62% of total imports. The Philippines (X units) held the second position in the ranking, distantly followed by Thailand (X units). All these countries together took approx. 27% share of total imports. Singapore (X units), Malaysia (X units) and Myanmar (X units) took a little share of total imports.

Imports into Indonesia decreased at an average annual rate of -3.3% from 2012 to 2022. At the same time, the Philippines (+7.6%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +7.6% from 2012-2022. By contrast, Singapore (-4.5%), Thailand (-7.7%), Myanmar (-7.9%) and Malaysia (-14.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Philippines increased by +14 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported tyres for agriculture, forestry, construction, industry and other off the road vehicles in South-Eastern Asia, comprising 72% of total imports. The second position in the ranking was taken by the Philippines ($X), with a 6.8% share of total imports. It was followed by Singapore, with a 5.7% share.

In Indonesia, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles declined by an average annual rate of -4.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the Philippines (-0.2% per year) and Singapore (-17.4% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per unit in 2022, declining by -27.6% against the previous year. Overall, the import price continues to indicate a noticeable descent. The most prominent rate of growth was recorded in 2018 an increase of 41% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per unit), while the Philippines ($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 (+6.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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