Uruguay: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in Uruguay

In 2022, the Uruguayan truck and bus tyre market increased by 48% to $X, rising for the second year in a row after two years of decline. Overall, consumption recorded buoyant growth. Truck and bus tyre consumption peaked in 2022 and is expected to retain growth in years to come.

Exports of Tyres For Buses Or Lorries

Exports from Uruguay

In 2022, after three years of growth, there was significant decline in overseas shipments of tyres for buses or lorries, when their volume decreased by -5.4% to X units. Overall, exports recorded a abrupt setback. The pace of growth was the most pronounced in 2013 with an increase of 530% against the previous year. Over the period under review, the exports attained the maximum at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, truck and bus tyre exports declined to $X in 2022. Over the period under review, exports saw a deep setback. The pace of growth appeared the most rapid in 2013 with an increase of 1,593%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Venezuela (X units) was the main destination for truck and bus tyre exports from Uruguay, with a 94% share of total exports. Moreover, truck and bus tyre exports to Venezuela exceeded the volume sent to the second major destination, Brazil (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Venezuela totaled +4.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (-22.4% per year) and Paraguay (-40.1% per year).

In value terms, Venezuela ($X) remains the key foreign market for tyres for buses or lorries exports from Uruguay, comprising 98% of total exports. The second position in the ranking was held by Paraguay ($X), with a 1.1% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Venezuela amounted to +4.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (-39.5% per year) and Brazil (-39.8% per year).

Export Prices by Country

In 2022, the average truck and bus tyre export price amounted to $X per unit, almost unchanged from the previous year. In general, export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +7.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, truck and bus tyre export price decreased by -27.2% against 2017 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by 169%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Venezuela ($X per unit), while the average price for exports to Brazil ($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 Paraguay (+1.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Tyres For Buses Or Lorries

Imports into Uruguay

In 2022, overseas purchases of tyres for buses or lorries increased by 56% to X units, rising for the second consecutive year after three years of decline. Over the period under review, total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +8.6% 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 +89.5% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, truck and bus tyre imports soared to $X in 2022. Overall, total imports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.2% 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 +89.6% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 46%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in years to come.

Imports by Country

China (X units), Brazil (X units) and Thailand (X units) were the main suppliers of truck and bus tyre imports to Uruguay, together accounting for 98% of total imports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +38.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest truck and bus tyre suppliers to Uruguay were China ($X), Brazil ($X) and Thailand ($X), together comprising 98% of total imports.

Thailand, with a CAGR of +42.7%, recorded the highest growth rate of 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

In 2022, the average truck and bus tyre import price amounted to $X per unit, declining by -7.4% against the previous year. Over the period under review, the import price showed a perceptible curtailment. The growth pace was the most rapid in 2021 when the average import price increased by 8%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 Argentina ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+7.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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