Press release
Pakistan Rubber Tyre Market : Pneumatic Rubber Tyre, Retreaded Rubber Tyre, Cushioned and Solid Rubber Tyre Forecast, 2018-2025
According to a recent report published by Allied Market Research, titled, "Pakistan rubber tyre Market by Tyre, Component, Design, and Vehicle Type: Opportunity Analysis and Industry Forecast, 2018 - 2025," 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 design segment was the highest contributor to the market in 2017, accounting for $207.70 million, and is estimated to reach $1,196.40 million by 2025, registering a CAGR of 24.6% during the forecast period.At present, by vehicle type segment, two-wheeler dominates the market, followed by OTR/TBR, agriculture tractor, and passenger car. Others dominated the Pakistan rubber tyre Market in 2017, whereas pneumatic rubber tyre is expected to grow at a significant rate during the forecast period.
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In addition, the growth of Pakistan rubber tyre market is driven due to the intense competition between tyre manufacturers to produce sustainable, durable in quality, and also due to the production of low cost tyres to meet the demand for tyre are the factors anticipated to lead the growth of Pakistan rubber tyre market. In addition, the adoption of advanced technology in the manufacturing process of tyre to offer high product differentiation to the consumer leads to a high level of performance and durability, which is also expected to drive the growth of the rubber tyre market in Pakistan. Furthermore, the rise in trend of using nitrogen gas in car tyre in Pakistan and an increase in the lifespan of vehicles are the factors expected to project the aftermarket growth of the rubber tyre market in Pakistan. Pakistan rubber tyre market share is rising due to increasing production of all type vehicles in this region.
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Major Market Players:
• BRIDGESTONE GROUP
• GENERAL TYRE AND RUBBER CO. LTD
• MICHELIN
• PIRELLI TYRE S.P.A.
• THE GOODYEAR TYRE & RUBBER COMPANY
• SUMITOMO RUBBER INDUSTRIES LTD.
• THE YOKOHAMA RUBBER CO., LTD.
• CONTINENTAL CORPORATION
• GHAURI TYRE & TUBE (PVT) LTD.
• SERVIS TYRES
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