Motorcycle Tire Price in Nepal - 2022
Contents:
Motorcycle Tire Price in Nepal (CIF) - 2022
The average motorcycle tire import price stood at $12 per unit in 2022, stabilizing at the previous year. Over the period under review, the import price continues to indicate a perceptible curtailment. The pace of growth was the most pronounced in 2021 an increase of 6.8% against the previous year. The import price peaked at $17 per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.
As there is only one major supplying country, the average price level is determined by prices for India.
From 2012 to 2022, the rate of growth in terms of prices for India amounted to -2.5% per year.
Motorcycle Tire Imports in Nepal
In 2022, the amount of new pneumatic tyres for motorcycles imported into Nepal declined significantly to 756K units, reducing by -22.5% against the previous year. Overall, total imports indicated a mild increase from 2019 to 2022: its volume increased at an average annual rate of +1.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +27.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 65% against the previous year. As a result, imports reached the peak of 976K units, and then reduced markedly in the following year.
In value terms, motorcycle tire imports contracted remarkably to $9.3M in 2022. In general, total imports indicated tangible growth from 2019 to 2022: its value increased at an average annual rate of +2.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +34.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 76% against the previous year. As a result, imports reached the peak of $12M, and then fell significantly in the following year.
Import of Motorcycle Tire in Nepal (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
India | 8.4 | 6.8 | 11.9 | 9.1 | 2.7% |
Others | 0.3 | 0.2 | 0.4 | 0.2 | -12.6% |
Total | 8.7 | 7.0 | 12.2 | 9.3 | 2.2% |
Top Suppliers of Motorcycle Tire to Nepal in 2022:
- India (744.2K units)
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The tyre industry has witnessed significant growth over the years, driven by the increasing demand for automobiles and the expanding global automotive industry. As a result, tire manufacturers around the world are constantly looking to tap into the best import markets for tyres to ensure their products reach a wider audience. The IndexBox Market Intelligence Platform provides comprehensive and up-to-date data on global trade, including import values, market trends, and key statistics. Based on the data sourced from the IndexBox platform, we have compiled a list of the top 10 countries with the highest import values for tyres in 2022. The United States takes the top spot with an import value of $18.7 billion in 2022, followed by Germany and France. Emerging economies like Mexico, Canada, and Australia also contribute significantly to the import market for tyres. The IndexBox market intelligence platform delivers valuable insights into these markets, helping manufacturers and traders make informed decisions and capitalize on the opportunities available.
The global tire market is expected to reach $209 billion in 2030, growing with a CAGR of +2.4% from 2022 to 2030.
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