Uruguay: 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 Uruguay

The Uruguayan market for tyres for agriculture, forestry, construction, industry and other off the road vehicles soared to $X in 2022, picking up by 40% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a strong expansion. Consumption of peaked in 2022 and is likely to see steady growth in the near future.

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

Exports from Uruguay

In 2022, shipments abroad of tyres for agriculture, forestry, construction, industry and other off the road vehicles decreased by -9.9% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports recorded a significant curtailment. The pace of growth appeared the most rapid in 2017 with an increase of 198% against the previous year. Over the period under review, the exports of tyres for agriculture, forestry, construction, industry and other off road vehicles attained the peak figure at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles skyrocketed to $X in 2022. Overall, exports saw a sharp slump. The pace of growth appeared the most rapid in 2017 with an increase of 315% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Argentina (X units), Bolivia (X units) and Paraguay (X units) were the main destinations of exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Uruguay, together comprising 98% 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 Argentina (with a CAGR of +182.8%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for agricultural, construction and industrial machinery tyre exported from Uruguay were Brazil ($X), Argentina ($X) and Bolivia ($X), together comprising 93% of total exports.

Among the main countries of destination, Bolivia, with a CAGR of +50.6%, 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

In 2022, the average export price for tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X per unit, jumping by 132% against the previous year. Overall, the export price, however, continues to indicate a mild curtailment. The most prominent rate of growth was recorded in 2014 when the average export price increased by 275%. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per unit), while the average price for exports to Bolivia ($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 Brazil (+33.9%), while the prices for the other major destinations experienced mixed trend patterns.

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

Imports into Uruguay

In 2022, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles into Uruguay expanded rapidly to X units, increasing by 8.9% on the previous year's figure. Overall, imports showed a strong expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 62% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles soared to $X in 2022. In general, imports continue to indicate prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Brazil (X units) constituted the largest agricultural, construction and industrial machinery tyre supplier to Uruguay, accounting for a 46% share of total imports. Moreover, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Brazil exceeded the figures recorded by the second-largest supplier, China (X units), twofold. India (X units) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual growth rate of volume from Brazil amounted to +27.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+11.2% per year) and India (+4.2% per year).

In value terms, the largest agricultural, construction and industrial machinery tyre suppliers to Uruguay were Brazil ($X), India ($X) and China ($X), with a combined 80% share of total imports. Turkey and Argentina lagged somewhat behind, together accounting for a further 13%.

Among the main suppliers, Turkey, with a CAGR of +30.8%, recorded the highest rates of growth with regard to the value of imports, 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, with an increase of 42% against the previous year. In general, the import price, however, showed a mild downturn. The import price peaked at $X per unit in 2013; however, from 2014 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 Turkey ($X per unit), while the price for Argentina ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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