PAKISTAN, PAKISTAN, PAKISTAN, June 27, 2023/EINPresswire.com/ — The latest report by IMARC Group, titled “Pakistan Tyre Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the Pakistan tyre market reached size reached 22.9 Million Units in 2022. Looking forward, IMARC Group expects the market to reach 31.0 Million Units by 2028, exhibiting a growth rate (CAGR) of 4.9% during 2023-2028.
A tyre refers to a ring-shaped strong, pneumatic, and flexible structure that is placed around the rim of a wheel. It is manufactured using wire, fabric, natural, carbon black, synthetic rubber, and other chemical additives. It acts as a primary point of contact between the vehicle and the road, transmitting acceleration, braking, and steering forces. It comes in various sizes and specifications to accommodate different vehicles, from bicycles and motorcycles to cars and trucks. It has a lower fuel consumption due to less rolling resistance and helps absorb impact and increases general comfort. It aids in getting a better grip on snowy and icy surfaces owing to the high content of rubber, due to which demand for a tyre is rising in Pakistan.
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Pakistan Tyre Market Trends:
Significant growth in the automotive sector is driving the Pakistan tyre market. Moreover, the government of Pakistan has implemented various initiatives and incentives to promote the domestic automotive industry, including policies supporting local tyre manufacturing, which is providing a boost to the market. Furthermore, on account of changing lifestyles and consumer preferences, there is an increased demand for vehicles tailored to specific purposes, such as SUVs, sports cars, and motorcycles. This is strengthening the demand across the country. Besides, ongoing technological advancements and the integration of advanced techniques with the manufacturing process is creating a positive market outlook. Other factors, including rapid urbanization and extensive research and development (R&D) activities, are also influencing the market.
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
• Market Outlook
• 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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