Pakistan Tyre Market Overview:
According to the latest report by IMARC Group, titled “Pakistan Tyre Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the Pakistan tyre market reached a volume of 21.6 Million Units in 2021. Looking forward, IMARC Group expects the market to reach 29.6 Million Units by 2027, exhibiting a CAGR of 5.1% during 2022-2027.
Tyres are critical components in automobiles that are fitted around the rim of a wheel to transfer a vehicle’s load from the axle to the ground and offer tractive force between the road surface and the vehicle. Manufactured using fabric, wire, carbon black, natural/synthetic rubber, and other chemical compounds, they consist of tread, jointless cap piles, and beads. Tyres are typically pneumatically inflated and help provide a flexible cushion for absorbing shock while traveling on rough surfaces.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Pakistan Tyre Market Trends:
The Pakistan tyre market is primarily driven by the high product demand across the automotive sector. Also, a considerable increase in the vehicle ownership rates due to the various macroeconomic reforms undertaken by various governing agencies in Pakistan is substantially favouring the market growth.
In addition to this, the shifting consumer preferences for advanced features, such as the advanced driving assistance system (ADAS), and the emerging trend of electric vehicles (EVs) are also complementing the market growth. Furthermore, the growing awareness regarding sustainability and extensive research and development (R&D) activities are also fostering the growth of the tyre market across the country.
Key Market Segmentation:
Competitive Landscape with Key players:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- General Tyre and Rubber Co. Ltd.
- Panther Tyres Limited
- Diamond Tyres Limited
- Service Industries Limited
- Ghauri Tyre and Tube Pvt. Limited
Breakup by Vehicle Type:
- Two-Wheeler and Three-Wheeler
- Passenger Cars and Light Truck
- Heavy Commercial and OTR
Two-wheeler and three-wheeler represent the most preferred vehicles in Pakistan.
Breakup by OEM and Replacement Segment:
- OEM
- Replacement
At present, replacement tyres account for the majority of the total market share.
Breakup by Domestic Production and Imports:
- Domestic Production
Domestic production exhibits a clear dominance in the market as various new players from the automobile industry are setting up tyre manufacturing plants in Pakistan, which is increasing the domestic production in the country.
Breakup by Legitimate and Grey Market:
- Legitimate
- Grey
The legitimate market currently holds the largest market share.
Breakup by Radial and Bias Tyres:
- Bias
- Radial
Breakup by Tube and Tubeless Tyres:
- Tube Tyres
- Tubeless Tyres
Breakup by Regions:
- Punjab
- Sindh
- Khyber Pakhtunkhwa
- Balochistan
Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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