Republic of Korea - Tyres For Buses Or Lorries - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPrice for Truck and Bus Tyre in South Korea - 2022
Contents:
- Price for Truck and Bus Tyre in South Korea (FOB) - 2022
- Price for Truck and Bus Tyre in South Korea (CIF) - 2022
- Exports of Truck and Bus Tyre in South Korea
- Imports of Truck and Bus Tyre in South Korea
Price for Truck and Bus Tyre in South Korea (FOB) - 2022
The average truck and bus tyre export price stood at $187 per unit in 2022, surging by 15% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2018 when the average export price increased by 17%. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.
Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Saudi Arabia ($187 per unit) and Poland ($187 per unit), while the average price for exports to France ($187 per unit) and the UK ($187 per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+1.1%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Truck and Bus Tyre in South Korea (CIF) - 2022
The average truck and bus tyre import price stood at $174 per unit in 2022, with an increase of 2.1% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 27% against the previous year. Over the period under review, average import prices hit record highs at $205 per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Spain ($174 per unit) and Thailand ($174 per unit), while the price for France ($174 per unit) and Germany ($174 per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (-0.6%), while the prices for the other major suppliers experienced a decline.
Exports of Truck and Bus Tyre in South Korea
In 2022, shipments abroad of tyres for buses or lorries decreased by -1% to 4.9M units, falling for the second consecutive year after two years of growth. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 16%. As a result, the exports reached the peak of 5.7M units. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, truck and bus tyre exports expanded remarkably to $927M in 2022. The total export value increased at an average annual rate of +2.1% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Truck and Bus Tyre in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 285 | 295 | 271 | 370 | 9.1% |
| Mexico | 51.8 | 40.9 | 53.4 | 58.2 | 4.0% |
| Germany | 43.2 | 42.7 | 46.5 | 43.7 | 0.4% |
| United Kingdom | 35.2 | 29.7 | 33.4 | 39.4 | 3.8% |
| Turkey | 35.4 | 37.8 | 37.5 | 36.7 | 1.2% |
| Netherlands | 24.2 | 31.7 | 31.3 | 31.1 | 8.7% |
| Saudi Arabia | 60.4 | 50.1 | 27.2 | 30.3 | -20.5% |
| Italy | 33.1 | 25.1 | 27.1 | 27.7 | -5.8% |
| France | 17.1 | 15.9 | 23.6 | 23.9 | 11.8% |
| Australia | 19.2 | 21.2 | 24.2 | 21.7 | 4.2% |
| Canada | 10.3 | 9.2 | 14.5 | 19.8 | 24.3% |
| Spain | 21.7 | 18.2 | 18.6 | 17.1 | -7.6% |
| Poland | 15.0 | 16.2 | 16.4 | 16.7 | 3.6% |
| Others | 218 | 174 | 192 | 190 | -4.5% |
| Total | 870 | 807 | 816 | 927 | 2.1% |
Top Export Markets for Truck and Bus Tyre from South Korea in 2022:
- United States (1974.3K units)
- Mexico (310.5K units)
- Germany (233.2K units)
- United Kingdom (210.4K units)
- Turkey (195.7K units)
- Netherlands (166.1K units)
- Saudi Arabia (161.9K units)
- Italy (148.1K units)
- France (127.4K units)
- Australia (115.9K units)
- Canada (105.9K units)
- Spain (91.2K units)
- Poland (89.2K units)
Imports of Truck and Bus Tyre in South Korea
In 2022, supplies from abroad of tyres for buses or lorries decreased by -4.5% to 1.4M units, falling for the second year in a row after two years of growth. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 12% against the previous year. As a result, imports attained the peak of 1.6M units. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, truck and bus tyre imports declined slightly to $245M in 2022. The total import value increased at an average annual rate of +1.4% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 8.9% against the previous year. As a result, imports attained the peak of $251M, and then dropped slightly in the following year.
| Import of Truck and Bus Tyre in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 151 | 151 | 154 | 155 | 0.9% |
| Thailand | 53.9 | 53.3 | 68.9 | 64.7 | 6.3% |
| Spain | 4.8 | 3.6 | 4.4 | 5.4 | 4.0% |
| Japan | 2.7 | 2.5 | 3.4 | 4.3 | 16.8% |
| Others | 22.2 | 19.7 | 20.9 | 14.8 | -12.6% |
| Total | 234 | 231 | 251 | 245 | 1.5% |
Top Suppliers of Truck and Bus Tyre to South Korea in 2022:
- China (892.3K units)
- Thailand (371.5K units)
- Spain (31.2K units)
- Japan (24.4K units)
This report provides an in-depth analysis of the market for truck and bus tyre in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 22111355 - New pneumatic rubber tyres for buses or lorries with a load index . .121
- Prodcom 22111357 - New pneumatic rubber tyres for buses or lorries with a load index > .121
Country coverage:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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