Overview of the Global Market for Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles

Market Size for Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles

The global market for tyres for agriculture, forestry, construction, industry and other off the road vehicles totaled $X in 2022, growing by 4.1% against the previous year. In general, consumption recorded a relatively flat trend pattern. Global consumption peaked in 2022 and is likely to see steady growth in the near future.

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

In value terms, production of tyres for agriculture, forestry, construction, industry and other off the road vehicles shrank modestly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 16% against the previous year. Global production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

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

Exports

In 2022, the amount of tyres for agriculture, forestry, construction, industry and other off the road vehicles exported worldwide declined to X units, waning by -10.2% against the previous year's figure. In general, exports showed a noticeable curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 29%. The global exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X in 2022. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 28% against the previous year. The global exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

China (X units) and India (X units) represented roughly 39% of total exports in 2022. The Netherlands (X units) ranks next in terms of the total exports with a 7.9% share, followed by Thailand (6.9%), Taiwan (Chinese) (6.3%) and the United States (5%). Sri Lanka (X units), Germany (X units), Turkey (X units), the Czech Republic (X units), Japan (X units), Italy (X units) and Slovakia (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Slovakia (with a CAGR of +18.0%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest agricultural, construction and industrial machinery tyre supplying countries worldwide were Japan ($X), China ($X) and India ($X), together comprising 47% of global exports. The United States, the Czech Republic, the Netherlands, Thailand, Turkey, Italy, Slovakia, Germany, Sri Lanka and Taiwan (Chinese) lagged somewhat behind, together comprising a further 25%.

Slovakia, with a CAGR of +27.2%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

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, increasing by 13% against the previous year. Overall, export price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 an increase of 22%. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while Taiwan (Chinese) ($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 (+16.4%), while the other global leaders experienced more modest paces of growth.

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

Imports

Global imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles dropped modestly to X units in 2022, waning by -3.6% on the previous year. The total import volume increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 27% against the previous year. As a result, imports reached the peak of X units, and then fell modestly in the following year.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles reached $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 27%. Global imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

The United States was the key importer of tyres for agriculture, forestry, construction, industry and other off the road vehicles in the world, with the volume of imports finishing at X units, which was near 35% of total imports in 2022. Brazil (X units) ranks second in terms of the total imports with an 8.2% share, followed by Mexico (7.6%) and Germany (5.4%). Canada (X units), the Netherlands (X units), Italy (X units), Bolivia (X units), France (X units), the UK (X units), Australia (X units), Spain (X units) and Indonesia (X units) followed a long way behind the leaders.

Imports into the United States increased at an average annual rate of +3.0% from 2012 to 2022. At the same time, Bolivia (+16.8%), Mexico (+8.8%), Spain (+8.0%), Australia (+7.4%), Canada (+4.9%), the Netherlands (+4.6%), Germany (+4.6%), France (+4.5%), Italy (+4.2%), Brazil (+2.8%) and the UK (+2.0%) displayed positive paces of growth. Moreover, Bolivia emerged as the fastest-growing importer imported in the world, with a CAGR of +16.8% from 2012-2022. By contrast, Indonesia (-3.3%) illustrated a downward trend over the same period. Mexico (+3.2 p.p.) and Bolivia (+2.1 p.p.) significantly strengthened its position in terms of the global imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest agricultural, construction and industrial machinery tyre importing markets worldwide were the United States ($X), Australia ($X) and Germany ($X), together comprising 30% of global imports. Canada, France, Mexico, Brazil, the UK, Indonesia, Italy, the Netherlands, Spain and Bolivia lagged somewhat behind, together accounting for a further 28%.

France, with a CAGR of +3.9%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X per unit, rising by 9.3% against the previous year. In general, the import price, however, saw a perceptible curtailment. The most prominent rate of growth was recorded in 2018 an increase of 13% against the previous year. Over the period under review, average import prices hit record highs 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 importing countries. In 2022, amid the top importers, the country with the highest price was Australia ($X per unit), while Bolivia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+0.7%), while the other global leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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