Pakistan Tyre Market Report, Share, Size, Trends, Growth, Demand and Forecast Till 2024

Pakistan Tyre Market Research Report, Share, Size, Growth and Outlook By 2024

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Report Description

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Report Description and Highlights

Report Description

Pakistan Tyre Market Report By Vehicle Type (Two Wheeler & Three Wheeler Tyres, Passenger Cars & Light Truck Tyres and Heavy Commercial & OTR Tyres), OEM and Replacement Segment (OEM Tyres and Replacement Tyres, Legitimate and Grey Market, Domestic Production and Imports, Radial and Bias Tyres, Tube and Tubeless Tyres, Region Market Overview: According to the latest report by IMARC Group, titled “Pakistan Tyre Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the Pakistan tyre market size reached 20.9 Million Units in 2018, growing at a CAGR of nearly 6.4% during 2011-2018. Tyres are strong and flexible pneumatic structures that are manufactured using natural or synthetic rubber wire, fabric and carbon black. They fit around a wheel’s rim to transfer the vehicle’s load and offer a secure grip between the vehicle and the road. Besides this, they enhance the overall performance of the vehicle by providing a cushion which absorbs shocks and reduces vibrations. They are installed in cars, trucks, buses, tractors, bicycles and motorcycles; common conveyances including wheelchairs and golf carts; and industrial vehicles like forklifts. At present, Pakistan is witnessing an increase in the vehicle motorization rate, and consequent growth in the automotive industry, which is spurring the demand for tyres in the country.

Report Description and Highlights

Report Description Market Trends:

The Pakistan tyre market is currently experiencing growth owing to the increasing demand for vehicles.

This can be accredited to the rising population, rapid urbanization and inflating income levels of consumers. Apart from this, the government in the country is focusing on macroeconomic reforms that are resulting in the growth of the construction, industrial and agriculture sectors. For example, the Government of Pakistan recently approved the Seed Act Bill and Plant Breeders Bill, reduced the prices of fertilizers and increased loans for farmers to enhance agricultural activities, which, in turn, is boosting the sales of tyres in the sector. It is also raising taxes on the imports of tyres to promote domestic manufacturers. Further, with the rising demand for tyres, local as well as foreign manufacturers are investing in the region to expand their businesses. For instance, General Tyre and Rubber Company (GTR), the leading company in Pakistan, has planned to set up its new manufacturing unit in the Special Economic Zone (SEZ) in Faisalabad. Looking forward, the market is projected to reach a consumption volume of 28.5 Million Units by 2024.

Pakistan Tyre Market Segmentation: Market Segmentation by Vehicle Type Request for a sample report: https://www.imarcgroup.com/pakistan-tyre-market/requestsample

Market Forecast

Sample Figure: Global: Wireless Sensors Market Forecast: Sales Value (in Billion US$), 2019-2024

184.3

191.7

199.3

207.3

2019

2020

2021

2022

215.6

224.2

2023

2024

Market Segmentation

Report Description

o Two Wheeler and Three Wheeler Tyres o Passenger Cars and Light Truck Tyres o Heavy Commercial and OTR Tyres On the basis of the vehicle type, the market has been segmented into two-wheelers and threewheelers, passenger cars and light trucks, and heavy commercial and off-the-road (OTR) vehicles. At present, the two-wheelers and three-wheelers segment leads the market, holding the largest share.

Market Segmentation by OEM and Replacement Segment • •

OEM Tyres Replacement Tyres

Based on the original equipment manufacturer (OEM) and replacement segments, replacement tyres exhibit a clear dominance in the market.

Market Segmentation by Domestic Production and Imports •

Domestic Production

For more information, click here: https://www.imarcgroup.com/pakistan-tyre-market

Market Segmentation

Report Description •

Imports

On assessing the domestic production and imports, it has been found that domestic production holds the dominant share in the tyre industry of Pakistan.

Market Segmentation by Region • • • •

Punjab Sindh Khyber Paktunkhwa Balochistan

Region-wise, the market has been segregated into Punjab, Sindh, Khyber Pakhtunkhwa and Balochistan.

Amongst these, Punjab represents the biggest market, holding the dominant share.

Market Segmentation by Legitimate and Grey Market • •

Legitimate Market Grey Market

Market Segmentation

Report Description

The market has been classified on the basis of legitimate and grey markets, with the legitimate market currently accounting for the majority of the total share.

Market Segmentation by Radial and Bias Tyres • •

Bias Tyres Radial Tyres

The market has also been divided on the basis of the radial and bias tyres, with radial tyres holding the largest market share.

Market Segmentation by Tube and Tubeless Tyres • •

Tube Tyres Tubeless Tyres

Based on the tube and tubeless tyres, tubeless tyres currently represent the leading segment.

Competitive Landscape: The competitive landscape of the market has also been examined with some of the key players.

Market Segmentation

Report Description • • • • •

General Tyre and Rubber Co. Ltd. Panther Tyres Limited Diamond Tyres Limited Service Industries Limited Ghauri Tyre and Tube Pvt. Limited

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Report Description and Highlights

Report Description

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