Pakistan Tyre Market to Reach 35.4 Million Units by 2032, Impelled by Increasing Adoption of Vehicles

January 04, 2022 | Automotive Industry

According to the latest report by IMARC Group, titled "Pakistan Tyre Market Report by Vehicle Type (Two-Wheeler and Three-Wheeler, Passenger Cars and Light Truck, Heavy Commercial and OTR), OEM and Replacement Segment (OEM, Replacement), Domestic Production and Imports (Domestic Production, Imports), Legitimate and Grey Market (Legitimate, Grey), Radial and Bias Tyres (Bias, Radial), Tube and Tubeless Tyres (Tube Tyres, Tubeless Tyres), and Region 2024-2032," the Pakistan tyre market reached a volume of 24.0 Million Units in 2023. Tyres are widely utilized in various types of automobiles. They generally comprise a bead, sidewall, inner liner and body ply that is mounted over a wheel rim to act as a cushion. These components are usually molded together that help in providing smooth transactions between the surface and the wheel. Tyres are widely utilized to support the weight of the vehicle while transmitting braking or traction force to the road surface. Additionally, they are also designed for reducing vibrations and absorbing road shocks while changing and maintaining the direction of travel.

Pakistan Tyre Market Trends:

The market in Pakistan is majorly driven by significant growth in the automotive sector. Moreover, the rising demand for enhanced comfort while traveling among the masses is providing a boost to the market growth. This has encouraged numerous leading players in the market to heavily invest in product innovations, which is creating a positive outlook for the market. Apart from this, the increasing population and the inflating disposable income levels of individuals across the country have led to a considerable rise in the sales of personal vehicles, which is providing an impetus to the market growth. The market is further driven by continual technological advancements and the widespread integration of advanced techniques with the manufacturing process. Other factors, including rapid urbanization, continuous improvements in the construction and agriculture infrastructure and extensive research and development (R&D) activities conducted by key players to introduce improved product variants, are further projected to drive the market growth across Pakistan. On account of the aforementioned factors, the market is anticipated to reach a volume of 35.4 Million Units by 2032.

Market Summary:

On the basis of the vehicle type, the market has been segmented into two-wheeler and three-wheeler, passenger cars and light truck, heavy commercial and OTR. Among these, two-wheeler and three-wheeler represent the most preferred vehicles in Pakistan.
Based on the segment, the market has been bifurcated into OEM and replacement, wherein replacement tyres account for the majority of the total market share.
The market has been segregated into domestic production and imports, wherein domestic production exhibits the largest market share.
The market has been classified into legitimate and grey market, wherein the legitimate market currently holds the largest market share.
The market has been categorized into radial and bias tyres. Among these, bias tyres account for the majority of the market share.
The market has been segmented tube and tubeless tyres, wherein tube tyres are widely utilized in Pakistan.
On the basis of the regional insights, the market has been divided into Punjab, Sindh, Khyber Pakhtunkhwa, and Balochistan.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include General Tyre and Rubber Co. Ltd., Panther Tyres Limited, Diamond Tyres Limited, Service Industries Limited and Ghauri Tyre and Tube Pvt. Limited.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Million, Million Units
Segment Coverage	Vehicle Type, OEM and Replacement Segment, Domestic Production and Imports, Legitimate and Grey Market, Radial and Bias Tyres, Tube and Tubeless Tyres, Region
Region Covered	Punjab, Sindh, Khyber Pakhtunkhwa, Balochistan
Companies Covered	General Tyre and Rubber Co. Ltd., Panther Tyres Limited, Diamond Tyres Limited, Service Industries Limited and Ghauri Tyre and Tube Pvt. Limited
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2599 Five User License: US$ 3099 Corporate License: US$ 3599
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Pakistan Tyre Market to Reach 35.4 Million Units by 2032, Impelled by Increasing Adoption of Vehicles

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