openPR Logo
Press release

COVID-19 Impact on Pakistan Rubber Tyre Market 2020-2026 Country Level Analysis, Current Trade Size And Future Prospective

07-30-2020 05:59 PM CET | Logistics & Transport

Press release from: Allied Market Research

Pakistan Rubber Tyre Market

Pakistan Rubber Tyre Market

Pakistan rubber tyre market size was valued at $272.10 million in 2017, and is projected to reach $1,592.90 million by 2025, registering a CAGR of 24.8% from 2018 to 2025. The radial type by design segment was the highest revenue contributor in 2017, accounting for $207.7 million, and is estimated to reach $1,196.4 million by 2025, registering a CAGR of 24.6% during the forecast period.

Get Sample Report for More Details @ https://www.alliedmarketresearch.com/request-sample/4977

A tyre is a component fitted around the rim of a wheel to transfer the load of a vehicle from the axle to the ground. Rubber tyre consists of tread, jointless cap piles, beads, and other materials, which include synthetic rubber, carbon black, and fabric. The major function of the tyre is to protect the wheel rim and offer tractive force between the road surface and the vehicle. Since, it is manufactured from rubber, it also provides a flexible cushion, thereby reducing the impact of the vibrations and absorbing the shock of the vehicle. There is an exponential increase in the demand for tyre due to the rise in vehicle production in Pakistan to cater the increase in requirement of vehicles across all segments. Thus, the tyre demand is ultimately governed by automobile production.

However, the developments in the market of retreading tyre in which worn tyres are replaced by tread are expected to limit the growth of new tyre market. The cost of raw material required for this process is lesser than manufacturing new tyre. Therefore, a rise in services in Pakistan related to retreading process is expected to restrain the market growth. However, the fluctuating prices of raw materials such as natural rubber and reinforcing materials hinder the growth of the tyre market in Pakistan. Pakistan rubber tyre market trends are decided on the basis of forecast from 2018 to 2025 and the driving factors that are affecting to their growth.

Inquire for discount on this report @ https://www.alliedmarketresearch.com/purchase-enquiry/4977

Pakistan rubber tyre market is segmented based on tyre, component, design, and vehicle type. The Pakistan rubber tyre market forecasted on the basis of year on year growth from 2018 to 2025 by considering the driving and restraining factors. One of the major factors that is driving the growth of the market includes increase in sales of passenger and electric vehicles and rapid economic improvement. Furthermore, automotive manufacturers are shifting their focus to reduce the overall vehicle weight with the use of advanced tyre material; thus driving the growth of the Pakistan rubber tyre market.

The key players operating in the Pakistan rubber tyre market include General Tyre and Rubber Co. Ltd., Servis Tyre, the Goodyear Tyre & Rubber Company, Bridgestone group, Pirelli Tyre S.p.A, Michelin, Ghauri Tyre & Tube Ltd., Continental Corporation, Sumitomo Rubber Industries Ltd., and Yokohama Rubber Co., Ltd

Pakistan automotive sector is experiencing exponential growth due to a rise in the demand for automobiles and use of collaborative & consolidation manufacturing in tyre business. This in turn boosts the growth of the automotive tyres, as tyres are one of the basic components of the vehicle. Thus, the rubber tyre manufacturers in Pakistan are witnessing strong competition to capture a larger market share. For instance, South Korea’s second largest tyre manufacturer Kumho Tyre has sealed a deal with a Pakistani company-Century Engineering Industries-to transfer its tyre making technology for the next 10 years due to rise in intense competition in the rubber tyre market. Also, this factor is responsible for swift changes in the tyre market that makes it more dynamic.

Original tyres are installed by vehicle manufacturers at the factory, which is recognized as a primary division of the tyre market, whereas the replacement aftermarket is another division market. Thus, tyre manufacturers are engaged in producing sustainable and high durable tyres with a high level of performance to attract more vehicle manufacturers. Therefore, there is a rise in competition among tyre manufacturers in Pakistan. This in turn fosters the growth of Pakistan rubber tyre market.

Report Customization @ https://www.alliedmarketresearch.com/request-for-customization/4977

Contact:
David Correa
Portland, OR, United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research

About Us
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release COVID-19 Impact on Pakistan Rubber Tyre Market 2020-2026 Country Level Analysis, Current Trade Size And Future Prospective here

News-ID: 2100083 • Views: 129

More Releases from Allied Market Research

Cloud-based VDI Market Expected to Reach $ 10,154 million by 2023, Growing at a …
The Objective of the Cloud-based VDI Market report is to depict the trends and upcoming for Cloud-based VDI Industry over the forecast years. In Cloud-based VDI Market report data has been gathered from industry specialists/experts. Although the market size of the market is studied and predicted from 2017 to 2023 mulling over 2016 as the base year of the market study. Attentiveness for the market has increased in recent decades
Railway Management System Market Is Booming Worldwide To Generate Huge Revenue B …
The Objective of the Railway Management System Market report is to depict the trends and upcoming for Railway Management System Industry over the forecast years. In Railway Management System Market report data has been gathered from industry specialists/experts. Although the market size of the market is studied and predicted from 2017 to 2023 mulling over 2016 as the base year of the market study. Attentiveness for the market has increased
Next Generation Storage Devices Market Has High Potential To Grow in a Coming Ye …
The Objective of the Next Generation Storage Devices Market report is to depict the trends and upcoming for Next Generation Storage Devices Industry over the forecast years. In Next Generation Storage Devices Market report data has been gathered from industry specialists/experts. Although the market size of the market is studied and predicted from 2015 to 2022 mulling over 2014 as the base year of the market study. Attentiveness for the
Supply Chain Management Software Market Will Show Admirable Growth in Coming Yea …
The Objective of the Supply Chain Management Software Market report is to depict the trends and upcoming for Supply Chain Management Software Industry over the forecast years. In Supply Chain Management Software Market report data has been gathered from industry specialists/experts. Although the market size of the market is studied and predicted from 2020 to 2027 mulling over 2019 as the base year of the market study. Attentiveness for the

All 5 Releases


More Releases for Pakistan

Clive- Best Shoes In Pakistan
There are numerous reasons for the wearing of shoes. We wear them to protect our feet from the elements when the ground beneath us is too cold or too hot for our soles to withstand. Our outside world (and possibly inside) is not usually soft and smooth so our shoes become a barrier between it and our feet. Shoes protect our feet from encountering objects which may hurt us. We
Biopower in Pakistan, Market Outlook to 2030
"Biopower in Pakistan, Market Outlook to 2030, Update 2016 - Capacity, Generation, Levelized Cost of Energy (LCOE), Investment Trends and Regulations" is the latest report from Publisher, the industry analysis specialists that offer comprehensive information and understanding of the Biopower market in Pakistan. The report provides an in-depth analysis on global renewable power market and global Biopower market with forecasts up to 2030. The report analyzes the power market scenario in
onecoin pakistan
The amount of evidence contributing to OneCoin’s status as a pyramid scheme is considerable. Its directors have previously been involved in other known scam operations, its resources contain no verifiable evidence for any of its business claims and documentation uploaded to support claims often conflicts with the claims themselves. In addition, the quality of hosted content, including standards of English and website construction, are good we do a business as a onecoin
Agrochemicals Market in Pakistan
ReportsWorldwide has announced the addition of a new report title Pakistan: Agrochemicals: Market Intelligence (2016-2021) to its growing collection of premium market research reports. The report “Pakistan: Agrochemicals: Market Intelligence (2016-2021)” provides market intelligence on the different market segments, based on type, active ingredient, formulation, crop, and pest. Market size and forecast (2016-2021) has been provided in terms of both, value (000 USD) and volume (000 KG) in the report. A
Best Job Portal Launched In Pakistan
Pakistan currently is one of the fastest growing economy growth rate near 7%. This growing and flourishing trend in the country has created a lot of jobs in Pakistan`s products and services industry. Foreign investors have been attracted in various sectors of Pakistan`s economy due to reforms of present government and the security of investment. Various websites are offering their services to the young and talented generation for seeking jobs according
B2B Directory,Pakistan Manufacturers,Pakistan Suppliers,Pakistan Exporters,Pakis …
PakBiz.com is a Pakistani B2B directory (portal), specially designed to assist Pakistani industries, companies and organization and to conduct business with the international markets. Pakistani B2B directory portal is considered to be Pakistan's first portal that is designed to cover the needs of the Pakistani Trade, Export and Business sector. Today, local companies in Pakistan do not have not enough resources to promote their products in the international markets due