Rising sales of two wheelers and expanding fleet size of vehicles to drive the Pakistan Tire market through 2026.
According to TechSci Research report, “Pakistan Tire Market By Vehicle Type (Two-Wheeler, Passenger Car, OTR, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle), By Demand Category (OEM & Aftermarket), By Tire Construction Type (Radial and Bias), By Sales Channel (Offline and Online), By Price Segment (Ultra Budget, Budget, Premium), By Region, Competition, Forecast & Opportunities, 2026”, Pakistan tire market is anticipated to reach USD 1.65 billion at a CAGR of 8.47% by 2026 because of rapidly broadening fleet size of vehicles. The increase in per capita income has resulted in an increase in purchasing power as well as a rise in the population’s standard of living. This has resulted in advancement of vehicle sales as well as expansion of fleet size, leading to increase in the replacement demand for tires in Pakistan. Also, high restoration rate has been witnessed due to poor infrastructure in rural areas across the country. When vehicles are driven on poor roads, tires tread wears down speedily and results in increased aftermarket tire demand. An increasing number of new models of cars are being launched due to high interest and choice among citizens in Pakistan. Consequently, various passenger car manufacturers are asserting the introduction of new models with enhanced and advanced safety features. The demand for two wheelers is going to remain high in the near future, which is expected to boost the demand for tires in Pakistan through 2026. However, during the COVID-19 outbreak, which led to economic crisis in 2020, the country’s automotive sales collapsed considerably. Following the COVID-19, the tire market has again gained some pace in Pakistan. Following a compelling reduction in production and sales in recent months, vehicle production has resumed, with sales also increasing, which has increased the demand for tires in the OEM category. Increased tires sales via e-commerce websites are also benefiting the tires market.
Browse more than 64 market data Figures and 7 tables spread through 121 Pages and an in-depth TOC on “Pakistan Tire Market”
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 expanding fleet size of the vehicle, it is forecasted that the trend is going to be the same in upcoming years also. On the basis of vehicle type, two-wheelers tires are leading the Pakistan tire market with more than half of the total market followed by passenger cars, OTR, LCV and M&HCV. In the forecast period also, it is expected that two-wheeler tires will generate the highest demand in terms of vehicle type in the Pakistan tire market. On the basis of tire construction type, bias tires are monopolizing the Pakistan tire market over radial tire with almost 77% of the market share. This is mainly due to the expected increase in fleet of two wheelers in the forecast period.
Servis Tyres, Panther Tyres Limited, The General Tyre and Rubber Company of Pakistan Limited, Diamond Tyres Ltd., Goodyear Tire and Rubber Company, Others (Ghauri Tyre & Tube Pvt Ltd, Yokohama Rubber Co. Ltd, etc.) are the key players in the market. The key players are developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers and acquisitions, new product developments. They are also increasing their marketing activities and enriching product portfolio across the country to increase their customer outreach.
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“In 2020, two-wheelers tires accounted for the largest share in Pakistan tire market. This segment is expected to dominate in the future as well because of rising sales and growing fleet size of two-wheelers in Pakistan.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Pakistan Tire Market By Vehicle Type (Two-Wheeler, Passenger Car, OTR, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle), By Demand Category (OEM & Aftermarket), By Tire Construction Type (Radial and Bias), By Sales Channel (Offline and Online), By Price Segment (Ultra Budget, Budget, Premium), By Region, Competition, Forecast & Opportunities, 2026” has evaluated the future growth potential of Pakistan Tire Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Pakistan tire market.
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