Market Research Report
Pakistan Tire Market, By Vehicle Type, By Demand Category, By Tire Construction Type, By Sales Channel, By Price Segment, By Region, Competition Forecast & Opportunities, 2026
|Pakistan Tire Market, By Vehicle Type, By Demand Category, By Tire Construction Type, By Sales Channel, By Price Segment, By Region, Competition Forecast & Opportunities, 2026|
Published: October 1, 2021
Content info: 121 Pages
Delivery time: 2-3 business days
Pakistan tire market is forecast to grow from USD1.00 billion in 2020 to USD1.65 billion by 2026, growing at a CAGR of 8.47% through 2026 due to rapid increase in the fleet size of vehicles, which is setting up the aftermarket demand for tires in Pakistan. Rise in per capita income has led to strengthening of the purchasing capability as well as hike in living standard of Pakistan's population. This is resulting in expansion of vehicle sales as well as increase in fleet size and leading to growth in the demand restoration for tires in Pakistan. Increasing demand for two-wheelers in Pakistan is also boosting two-wheeler production, especially motorcycles, which has led to the growth in demand for two-wheeler tires as well. With the increase in population, number of people preferring personal mode of transportation for commuting is also increasing, which has led to an increase in sales of two-wheelers. Hence, driving the OEM demand for two-wheeler tires in Pakistan over the next five years. However due to the imposition of lockdown across the country, following the COVID-19 outbreak, the sales of automobiles in the country declined significantly. After a big drop in production and sales in previous months, the production of vehicles has resumed now with sales also picking the pace, which is going to generate demand for tires in the OEM segment.
Pakistan tire market can be segmented based on demand category, by vehicle type, by tire construction type, by sales channel, by price segment and by region. On the basis of demand category, aftermarket tires dominate the overall Pakistan tire market with around 72% of total market share in 2020. And because of increasing fleet size of the vehicle, it is expected that the trend will continue to be the same in near future also. On the basis of vehicle type, two-wheelers tires are leading the Pakistan tire market with share of more than 50% in 2020, followed by Passenger Car, OTR, LCV and M&HCV. In the forecast period also, it is expected that the consumption of two-wheeler tires will be more than any other and will increase at a higher CAGR in comparison to other vehicle types. On the basis of construction type, bias tires are dominating the Pakistan tire market over radial tire with almost 77% of the total share. This is mainly due to increasing fleet of two wheelers.
Servis Tyres, Panther Tyres Limited, The General Tyre and Rubber Company of Pakistan Limited, Diamond Tyres Ltd., Goodyear Tire and Rubber Company, Ghauri Tyre & Tube Pvt Ltd, Yokohama Rubber Co. Ltd, etc. are key players in the market. They are developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers and acquisition and new product developments. Players operating in the market are improving R&D capabilities while enhancing operational efficiency to register positive growth.
Years considered for this report:
Historical Period: 2016-2019
Base Year: 2020
Estimated Year: 2021E
Forecast Period: 2022F-2026F
Objective of the Study:
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across Pakistan. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product offerings, distribution channels and presence of all major manufacturers across Pakistan.
TechSci Research calculated the market size of Pakistan Tire Market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated them through analyzing historical data of these product types and its demand category for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, Pakistan tire market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Off the Road (OTR)
Light Commercial Vehicle (LCV)
Medium & Heavy Commercial Vehicle (M&HCV)
Others (Balochistan, Gilgit-Baltistan, etc.)
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report: