U.S.: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in the U.S.

In 2022, the U.S. truck and bus tyre market increased by 22% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +3.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Tyres For Buses Or Lorries in the U.S.

In value terms, truck and bus tyre production dropped modestly to $X in 2022. In general, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by 18% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Tyres For Buses Or Lorries

Exports from the U.S.

In 2022, truck and bus tyre exports from the United States contracted modestly to X units, stabilizing at the previous year. In general, exports continue to indicate a perceptible descent. The pace of growth appeared the most rapid in 2014 with an increase of 15% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, truck and bus tyre exports stood at $X in 2022. Overall, exports continue to indicate a noticeable setback. The pace of growth appeared the most rapid in 2021 with an increase of 24%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Canada (X units), Mexico (X units) and Germany (X units) were the main destinations of truck and bus tyre exports from the United States, together comprising 86% of total exports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +29.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Canada ($X) and Germany ($X) appeared to be the largest markets for truck and bus tyre exported from the United States worldwide, together comprising 87% of total exports.

Among the main countries of destination, Germany, with a CAGR of +25.3%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average truck and bus tyre export price stood at $X per unit in 2022, with an increase of 9.6% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 13% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2015; however, from 2016 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 Mexico ($X per unit), while the average price for exports to Germany ($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 Mexico (+1.6%), while the prices for the other major destinations experienced a decline.

Imports of Tyres For Buses Or Lorries

Imports into the U.S.

In 2022, overseas purchases of tyres for buses or lorries increased by 16% to X units, rising for the second consecutive year after two years of decline. Overall, total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +6.4% 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 +44.4% against 2020 indices. The pace of growth appeared the most rapid in 2015 when imports increased by 28%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, truck and bus tyre imports soared to $X in 2022. Over the period under review, total imports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +4.7% 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 +62.6% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Thailand (X units) constituted the largest truck and bus tyre supplier to the United States, accounting for a 28% share of total imports. Moreover, truck and bus tyre imports from Thailand exceeded the figures recorded by the second-largest supplier, Vietnam (X units), twofold. Canada (X units) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Thailand stood at +22.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+24.4% per year) and Canada (-5.5% per year).

In value terms, Thailand ($X) constituted the largest supplier of tyres for buses or lorries to the United States, comprising 29% of total imports. The second position in the ranking was held by Canada ($X), with a 12% share of total imports. It was followed by Japan, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Thailand amounted to +20.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-3.3% per year) and Japan (+5.5% per year).

Import Prices by Country

In 2022, the average truck and bus tyre import price amounted to $X per unit, growing by 11% against the previous year. Over the period under review, the import price, however, continues to indicate a slight decrease. The pace of growth was the most pronounced in 2014 when the average import price increased by 27%. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+2.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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