Vietnam: Market for Tyres For Motorcycles or Bicycles 2024

Market Size for Tyres For Motorcycles or Bicycles in Vietnam

The Vietnamese motorcycle or bicycle tyre market contracted markedly to $X in 2022, shrinking by X% against the previous year. Over the period under review, consumption recorded a deep setback. Motorcycle or bicycle tyre consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Production of Tyres For Motorcycles or Bicycles in Vietnam

In value terms, motorcycle or bicycle tyre production amounted to $X in 2022 estimated in export price. The total output 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 growth pace was the most rapid in 2013 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Tyres For Motorcycles or Bicycles

Exports from Vietnam

For the fourth year in a row, Vietnam recorded growth in overseas shipments of tyres for motorcycles or bicycles, which increased by X% to X units in 2022. Over the period under review, exports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, motorcycle or bicycle tyre exports shrank to $X in 2022. In general, exports enjoyed prominent growth. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then contracted in the following year.

Exports by Country

Myanmar (X units) was the main destination for motorcycle or bicycle tyre exports from Vietnam, accounting for a X% share of total exports. Moreover, motorcycle or bicycle tyre exports to Myanmar exceeded the volume sent to the second major destination, Germany (X units), fourfold. The third position in this ranking was taken by the Netherlands (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Myanmar stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and the Netherlands (X% per year).

In value terms, the largest markets for motorcycle or bicycle tyre exported from Vietnam were Myanmar ($X), Germany ($X) and the United Arab Emirates ($X), with a combined X% share of total exports.

In terms of the main countries of destination, Myanmar, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average motorcycle or bicycle tyre export price amounted to $X per unit, which is down by X% against the previous year. Over the period under review, the export price showed a abrupt setback. The most prominent rate of growth was recorded in 2013 an increase of X%. The export price peaked at $X per unit in 2014; however, from 2015 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 the United Arab Emirates ($X per unit), while the average price for exports to Myanmar ($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 the United Arab Emirates (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tyres For Motorcycles or Bicycles

Imports into Vietnam

After two years of growth, purchases abroad of tyres for motorcycles or bicycles decreased by X% to X units in 2022. Overall, total imports indicated a resilient 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, imports increased by X% against 2019 indices. The pace of growth was the most pronounced in 2013 when imports increased by X%. Over the period under review, imports attained the peak figure at X units in 2021, and then shrank sharply in the following year.

In value terms, motorcycle or bicycle tyre imports contracted to $X in 2022. Over the period under review, imports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2021, and then fell in the following year.

Imports by Country

The United Arab Emirates (X units), China (X units) and Brazil (X units) were the main suppliers of motorcycle or bicycle tyre imports to Vietnam, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of X.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of tyres for motorcycles or bicycles to Vietnam, comprising X% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Brazil, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (X.2% per year) and Brazil (X% per year).

Import Prices by Country

In 2022, the average motorcycle or bicycle tyre import price amounted to $X per unit, picking up by X% against the previous year. Over the period under review, the import price saw prominent growth. The pace of growth appeared the most rapid in 2019 when the average import price increased by X%. As a result, import price attained the peak level of $X per unit. From 2020 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per unit), while the price for the United Arab Emirates ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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