According to the latest report by IMARC Group, titled “Pakistan Tyre Market Report: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the Pakistan tyre market reached a volume of 21.0 Million Units in 2020. Looking forward, IMARC Group expects the market to reach a volume of 32.2 Million Units by 2026. The 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.
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 (tire) 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.
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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
Breakup by OEM and Replacement Segment:
Breakup by Domestic Production and Imports:
- Domestic Production
Breakup by Legitimate and Grey Market:
Breakup by Radial and Bias Tyres:
Breakup by Tube and Tubeless Tyres:
- Tube Tyres
- Tubeless Tyres
Breakup by Regions:
- Khyber Pakhtunkhwa
Key highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- 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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