Southern Asia: Tyre Market 2024

Tyre Market Size in Southern Asia

The South Asian tyre market expanded to $X in 2022, increasing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Tyre Production in Southern Asia

In value terms, tyre production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Tyre Exports

Exports in Southern Asia

In 2022, approx. X units of tyres were exported in Southern Asia; with a decrease of X% compared with 2021. Total exports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2018 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units, and then fell in the following year.

In value terms, tyre exports expanded remarkably to $X in 2022. Total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of X%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

India represented the key exporter of tyres in Southern Asia, with the volume of exports recording X units, which was approx. X% of total exports in 2022. Sri Lanka (X units) took the second position in the ranking, distantly followed by Pakistan (X units). All these countries together held near X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to tyre exports from India stood at X%. At the same time, Pakistan (X%) and Sri Lanka (X%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Pakistan increased by X percentage points.

In value terms, India ($X) remains the largest tyre supplier in Southern Asia, comprising X% of total exports. The second position in the ranking was taken by Sri Lanka ($X), with a X% share of total exports.

In India, tyre exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Sri Lanka (X% per year) and Pakistan (X% per year).

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per unit, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2018 when the export price increased by X% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the near future.

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

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

Tyre Imports

Imports in Southern Asia

In 2022, imports of tyres in Southern Asia reduced sharply to X units, dropping by X% compared with the year before. Over the period under review, imports recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of X%. The volume of import peaked at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, tyre imports fell notably to $X in 2022. In general, imports continue to indicate a slight setback. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Bangladesh (X units), Pakistan (X units), Afghanistan (X units), India (X units) and Nepal (X units) represented roughly X% of total imports in 2022. It was distantly followed by Sri Lanka (X units), achieving a X% share of total imports.

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

In value terms, the largest tyre importing markets in Southern Asia were India ($X), Bangladesh ($X) and Afghanistan ($X), with a combined X% share of total imports. Pakistan, Nepal and Sri Lanka lagged somewhat behind, together accounting for a further X%.

Nepal, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of 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

The import price in Southern Asia stood at $X per unit in 2022, picking up by X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of X%. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($X per unit), while Nepal ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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