Summary

The Pakistan tyre market size reached 24.0 Million Units in 2023. Looking forward, IMARC Group expects the market to reach 35.4 Million Units by 2032, exhibiting a growth rate (CAGR) of 4.3% during 2024-2032.

Tyres are one of the essential components in automobiles as they aid in transferring the load of the vehicle from the axle to the ground. They are manufactured using materials such as fabric, wire, carbon black, natural and synthetic rubber, and other chemical compounds. As tyres are pneumatically inflated, they provide a flexible cushion for absorbing shock when the vehicle travels on a rough surface. Presently, the rising vehicle motorization rate in Pakistan is impelling the demand for tyres in the country.

The Pakistan tyre (tire) industry is currently experiencing moderate growth on account of the increasing vehicle ownership in the country. This can also be attributed to numerous infrastructural and macroeconomic reforms undertaken by the Government of Pakistan, which is resulting in the development of industrial, construction and agricultural industries. For instance, the Government has reduced the prices of fertilizers, approved the Seed Act and Plant Breeders Bill, and increased loans for farmers to improve agricultural activities which, in turn, is boosting the overall sales of tyres in this sector. Apart from this, the Government is also imposing taxes on tyre imports to support domestic manufacturers. Furthermore, due to a consistent rise in the demand for tyres, local and foreign investors are showing interest in the industry, which is anticipated to strengthen the market growth in the upcoming years. For example, General Tyre and Rubber Company (GTR), one of the leading companies in Pakistan, is planning to set up a new manufacturing unit in the Special Economic Zone (SEZ) in Faisalabad.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Pakistan tyre market report, along with forecasts at the country and regional level from 2024-2032. Our report has categorized the market based on vehicle type, OEM and replacement segment, domestic production and imports, legitimate and grey market, radial and bias tyres, and tube and tubeless tyres.

Breakup by Vehicle Type:

Two-Wheeler and Three-Wheeler
Passenger Cars and Light Truck
Heavy Commercial and OTR

Two-wheeler and three-wheeler represent the most preferred vehicles in Pakistan.

Breakup by OEM and Replacement Segment:

OEM
Replacement

At present, replacement tyres account for the majority of the total market share.

Breakup by Domestic Production and Imports:

Domestic Production
Imports

Domestic production exhibits a clear dominance in the market as various new players from the automobile industry are setting up tyre manufacturing plants in Pakistan, which is increasing the domestic production in the country.

Breakup by Legitimate and Grey Market:

Legitimate
Grey

The legitimate market currently holds the largest market share.

Breakup by Radial and Bias Tyres:

Bias
Radial

Presently, bias tyres account for the majority of the market share.

Breakup by Tube and Tubeless Tyres:

Tube Tyres
Tubeless Tyres

Tube tyres are widely utilized in Pakistan as they are lightweight and can run on lower air pressure.

Regional Insights:

Punjab
Sindh
Khyber Pakhtunkhwa
Balochistan
Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are:

General Tyre and Rubber Co. Ltd.
Panther Tyres Limited
Diamond Tyres Limited
Service Industries Limited
Ghauri Tyre and Tube Pvt. Limited

Key Questions Answered in This Report:
How has the Pakistan tyre market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the Pakistan tyre market?
What are the key regional markets?
What is the market breakup on the basis of vehicle type?
What is the market breakup on the basis of OEM and replacement segment?
What is the market breakup on the basis of domestic production and imports?
What is the market breakup on the basis of legitimate and grey market?
What is the market breakup on the basis of radial and bias tyres?
What is the market breakup on the basis of tube and tubeless tyres?
What are the various stages in the value chain of the Pakistan tyre industry?
What are the key driving factors and challenges in the Pakistan tyre industry?
What is the structure of the Pakistan tyre industry and who are the key players?
What is the degree of competition in the Pakistan tyre industry?
What are the profit margins in the Pakistan tyre industry?
How are tyres manufactured?
What are the various unit operations involved in a tyre manufacturing plant?
What is the total size of land required for setting up a tyre manufacturing plant?
What are the machinery requirements for setting up a tyre manufacturing plant?
What are the raw material requirements for setting up a tyre manufacturing plant?
What are the packaging requirements for a tyre manufacturing plant?
What are the transportation requirements for a tyre manufacturing plant?
What are the utility requirements for setting up a tyre manufacturing plant?
What are the manpower requirements for setting up a tyre manufacturing plant?
What are the infrastructure costs for setting up a tyre manufacturing plant?
What are the capital costs for setting up a tyre manufacturing plant?
What are the operating costs for setting up a tyre manufacturing plant?
What will be the income and expenditures for a tyre manufacturing plant?
What is the time required to break-even?

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Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Pakistan Automobile Industry
5.1 Overview
5.2 Production Trends
5.2.1 Market Performance
5.2.2 Market Breakup by Vehicle Type
5.2.3 Market Breakup by Region
5.2.4 Market Forecast
5.3 Vehicles Registration in Pakistan
5.3.1 Market Performance
5.3.2 Vehicle Registration by Region
5.4 New Industry Entrants
6 Pakistan Tyre Market
6.1 Market Overview
6.2 Market Performance
6.2.1 Volume Trends
6.2.2 Value Trends
6.3 Impact of COVID-19
6.4 Market Breakup by Vehicle Type
6.5 Market Breakup by OEM and Replacement Segment
6.6 Market Breakup by Domestic Production and Imports
6.7 Market Breakup by Legitimate and Grey Market
6.8 Market Breakup by Radial and Bias Tyres
6.9 Market Breakup by Tube and Tubeless Tyres
6.10 Market Breakup by Region
6.11 Market Forecast
6.12 SWOT Analysis
6.12.1 Overview
6.12.2 Strengths
6.12.3 Weaknesses
6.12.4 Opportunities
6.12.5 Threats
6.13 Value Chain Analysis
6.13.1 Overview
6.13.2 Research and Development
6.13.3 Raw Material Procurement
6.13.4 Tyre Manufacturing
6.13.5 Marketing
6.13.6 Distribution
6.13.7 End-Users
6.13.8 Recycling
6.14 Porters Five Forces Analysis
6.14.1 Overview
6.14.2 Bargaining Power of Buyers
6.14.3 Bargaining Power of Suppliers
6.14.4 Degree of Competition
6.14.5 Threat of New Entrants
6.14.6 Threat of Substitutes
6.15 Price Analysis
6.15.1 Price Indicators
6.15.2 Price Structure
7 Market Breakup by Vehicle Type
7.1 Two-Wheeler and Three-Wheeler Tyres
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Passenger Cars and Light Truck Tyres
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Heavy Commercial and OTR Tyres
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by OEM and Replacement Segment
8.1 OEM Tyres
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Replacement Tyres
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Domestic Production and Imports
9.1 Domestic Production
9.2 Imports
10 Market Breakup by Legitimate and Grey Market
10.1 Legitimate Market
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Grey Market
10.2.1 Market Trends
10.2.2 Market Forecast
11 Market Breakup by Radial and Bias Tyres
11.1 Bias Tyres
11.1.1 Market Trends
11.1.2 Market Forecast
11.2 Radial Tyres
11.2.1 Market Trends
11.2.2 Market Forecast
12 Market Breakup by Tube and Tubeless Tyres
12.1 Tube Tyres
12.1.1 Market Trends
12.1.2 Market Forecast
12.2 Tubeless Tyres
12.2.1 Market Trends
12.2.2 Market Forecast
13 Market Breakup by Region
13.1 Punjab
13.2 Sindh
13.3 Khyber Pakhtunkhwa
13.4 Balochistan
14 Foreign Direct Investment in Pakistan
15 Tyre Manufacturing Process
15.1 Product Overview
15.2 Radial Tyre Component
15.3 Tyre Design Process
15.4 Detailed Process Flow
15.5 Various Types of Unit Operations Involved
15.6 Tyre Performance Criteria
15.7 Technical Tests
15.8 Mass Balance and Raw Material Requirements
16 Project Details, Requirements and Costs Involved
16.1 Land, Location and Site Development
16.1.1 Overview of Land Location
16.1.1.1 Project Planning and Phasing of Development
16.1.1.2 Environmental Impacts
16.1.2 Land Requirement and Expenditure
16.2 Plant Layout
16.3 Plant Machinery
16.3.1 Machinery Costs
16.3.2 Machinery Suppliers
16.3.3 Machinery Pictures
16.4 Raw Materials
16.4.1 Raw Material Required and Specifications
16.4.2 Raw Material Procurement
16.4.3 Raw Material Expenditure
16.4.4 Raw Material Supplier
16.4.5 Raw Material and Final Product Pictures
16.5 Packaging Requirements and Expenditures
16.6 Transportation Requirements and Expenditures
16.7 Utilities Requirements and Expenditures
16.8 Manpower Requirements and Expenditures
16.9 Other Capital Investments
17 Loans and Financial Assistance
18 Project Economics
18.1 Capital Cost of the Project
18.2 Techno-Economic Parameters
18.3 Product Pricing and Margins Across Various Levels of the Supply Chain
18.4 Taxation and Depreciation
18.5 Income Projections
18.6 Expenditure Projections
18.7 Financial Analysis
18.7.1 Liquidity Analysis
18.7.2 Profitability Analysis
18.7.2.1 Payback Period
18.7.2.2 Net Present Value:
18.7.2.3 Internal Rate of Return
18.7.2.4 Profit and Loss Account
18.7.3 Uncertainty Analysis
18.7.4 Sensitivity Analysis
18.8 Economic Analysis
19 Case Study – Apollo Tyre
20 Competitive Landscape
20.1 Key Players
20.2 Key Players Profiles
20.2.1 General Tyre and Rubber Co. Ltd.
20.2.1.1 Company Overview
20.2.1.2 Company Description
20.2.2 Panther Tyres Limited
20.2.2.1 Company Overview
20.2.2.2 Company Description
20.2.3 Diamond Tyres Limited
20.2.3.1 Company Overview
20.2.3.2 Company Description
20.2.4 Service Industries Limited
20.2.4.1 Company Overview
20.2.4.2 Company Description
20.2.5 Ghauri Tyre and Tube Pvt. Limited
20.2.5.1 Company Overview
20.2.5.2 Company Description
List of Figures
Figure 1: Pakistan: Tyre Market: Major Drivers and Challenges
Figure 2: Pakistan: Automobile Market: Production Volume (in Million Units), 2018-2023
Figure 3: Pakistan: Automobile Market: Breakup by Vehicle Type (in %), 2023
Figure 4: Pakistan: Automobile Market: Breakup by Region (in %), 2023
Figure 5: Pakistan: Automobile Market Forecast: Production Volume (in Million Units), 2024-2032
Figure 6: Pakistan: Automobile Market: Number of New Registration of Vehicles (in Million Units), 2018-2023
Figure 7: Pakistan: Automobile Market: Breakup by Region (in %), 2023
Figure 8: Pakistan: Automobile Market: Upcoming Automobile Companies
Figure 9: Pakistan: Tyre Market: Volume Trends (in Million Units), 2018-2023
Figure 10: Pakistan: Tyre Market: Sales Value (in Million US$), 2018-2023
Figure 11: Pakistan: Tyre Market: Breakup by Vehicle Type (in %), 2023
Figure 12: Pakistan: Tyre Market: Breakup by OEM and Replacement Segment (in %), 2023
Figure 13: Pakistan: Tyre Market: Breakup by Domestic Production and Imports (in %), 2023
Figure 14: Pakistan: Tyre Market: Breakup by Legitimate and Grey Market (in %), 2023
Figure 15: Pakistan: Tyre Market: Breakup by Radial and Bias Tyres (in %), 2023
Figure 16: Pakistan: Tyre Market: Breakup by Tube and Tubeless Tyres (in %), 2023
Figure 17: Pakistan: Tyre Market: Breakup by Region (in %), 2023
Figure 18: Pakistan: Tyre Market Forecast: Volume Trends (in Million Units), 2024-2032
Figure 19: Pakistan: Tyre Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 20: Pakistan: Tyre Industry: SWOT Analysis
Figure 21: Pakistan: Tyre Industry: Value Chain Analysis
Figure 22: Pakistan: Tyre Industry: Porter’s Five Forces Analysis
Figure 23: Pakistan: Motorcycle Tyre Manufacturing: Price Structure Analysis
Figure 24: Pakistan: Tyre (Two-Wheeler and Three-Wheeler) Market: Production Volume (in Million Units), 2018-2023
Figure 25: Pakistan: Tyre (Two-Wheeler and Three-Wheeler) Market: Consumption Volume (in Million Units), 2018-2023
Figure 26: Pakistan: Tyre (Two-Wheeler and Three-Wheeler) Market Forecast: Production Volume (in Million Units), 2024-2032
Figure 27: Pakistan: Tyre (Two-Wheeler and Three-Wheeler) Market Forecast: Consumption Volume (in Million Units), 2024-2032
Figure 28: Pakistan: Tyre (Passenger Cars and Light Truck) Market: Consumption Volume (in Million Units), 2018-2023
Figure 29: Pakistan: Tyre (Passenger Cars and Light Truck) Market Forecast: Production Volume (in Million Units), 2024-2032
Figure 30: Pakistan: Tyre (Passenger Cars and Light Truck) Market Forecast: Consumption Volume (in Million Units), 2024-2032
Figure 31: Pakistan: Tyre (Heavy Commercial and OTR) Market: Production Volume (in Million Units), 2018-2023
Figure 32: Pakistan: Tyre (Heavy Commercial and OTR) Market: Consumption Volume (in Million Units), 2018-2023
Figure 33: Pakistan: Tyre (Heavy Commercial and OTR) Market Forecast: Production Volume (in Million Units), 2024-2032
Figure 34: Pakistan: Tyre (Heavy Commercial and OTR) Market Forecast: Consumption Volume (in Million Units), 2024-2032
Figure 35: Pakistan: Tyre (OEM) Market: Production Volume (in Million Units), 2018-2023
Figure 36: Pakistan: Tyre (OEM) Market: Consumption Volume (in Million Units), 2018-2023
Figure 37: Pakistan: Tyre (OEM) Market Forecast: Production Volume (in Million Units), 2024-2032
Figure 38: Pakistan: Tyre (OEM) Market Forecast: Consumption Volume (in Million Units), 2024-2032
Figure 39: Pakistan: Tyre (Replacement) Market: Consumption Volume (in Million Units), 2018-2023
Figure 40: Pakistan: Tyre (Replacement) Market Forecast: Consumption Volume (in Million Units), 2024-2032
Figure 41: Pakistan: Tyre Market: Import Vs Domestic Production (in %), 2018-2023
Figure 42: Pakistan: Tyre (Domestic Production) Market: Production Volume (in Million Units), 2018-2023
Figure 43: Pakistan: Tyre (Domestic Production) Market Forecast: Production Volume (in Million Units), 2024-2032
Figure 44: Pakistan: Tyre (Imports) Market: Volume Trends (in Million Units), 2018-2023
Figure 45: Pakistan: Tyre Market: Breakup by Legitimate Import and Under-Invoicing (in %), 2023
Figure 46: Pakistan: Tyre (Legitimate) Market: Consumption Volume (in Million Units), 2018-2023
Figure 47: Pakistan: Tyre (Legitimate) Market Forecast: Consumption Volume (in Million Units), 2024-2032
Figure 48: Pakistan: Tyre (Grey) Market: Consumption Volume (in Million Units), 2018-2023
Figure 49: Pakistan: Tyre (Grey) Market Forecast: Consumption Volume (in Million Units), 2024-2032
Figure 50: Pakistan: Tyre (Bias) Market: Consumption Volume (in Million Units), 2018-2023
Figure 51: Pakistan: Tyre (Bias) Market Forecast: Consumption Volume (in Million Units), 2024-2032
Figure 52: Pakistan: Tyre (Radial) Market: Consumption Volume (in Million Units), 2018-2023
Figure 53: Pakistan: Tyre (Radial) Market Forecast: Consumption Volume (in Million Units), 2024-2032
Figure 54: Pakistan: Tyre (Tube) Market: Consumption Volume (in Million Units), 2018-2023
Figure 55: Pakistan: Tyre (Tube) Market Forecast: Consumption Volume (in Million Units), 2024-2032
Figure 56: Pakistan: Tyre (Tubeless) Market: Consumption Volume (in Million Units), 2018-2023
Figure 57: Pakistan: Tyre (Tubeless) Market Forecast: Consumption Volume (in Million Units), 2024-2032
Figure 58: Punjab: Tyre Market: Consumption Volume (in Million Units), 2023 & 2032
Figure 59: Sindh: Tyre Market: Consumption Volume (in Million Units), 2023 & 2032
Figure 60: Khyber Pakhtunkhwa: Tyre Market: Consumption Volume (in Million Units), 2023 & 2032
Figure 61: Balochistan: Tyre Market: Consumption Volume (in Million Units), 2023 & 2032
Figure 62: Components of Radial Tyre
Figure 63: Tyre Manufacturing: Process Flow
Figure 64: Motorcycle Tyre Manufacturing Process: Conversion Rate of Feedstock
Figure 65: Passenger Car Tyre Manufacturing Process: Conversion Rate of Feedstock
Figure 66: Truck Tyre Manufacturing Process: Conversion Rate of Feedstocks
Figure 67: Pakistan: Tyre Manufacturing Plant: Land Location (Kasur District, Punjab)
Figure 68: Tyre Manufacturing: Plant Layout
Figure 69: Tyre Manufacturing Plant: Breakup of Capital Costs (in %)
Figure 70: Tyre Manufacturing Plant: Breakup of Operational Costs
Figure 71: Apollo Tyre Manufacturing Plant: Layout
List of Tables
Table 1: Pakistan: Automobile Market: Key Industry Highlights, 2023 and 2032
Table 2: Pakistan: Tyre Market: Key Industry Highlights, 2023 and 2032
Table 3: Pakistan: Tyre Market Forecast: Breakup by Vehicle Type (in Million Units), 2024-2032
Table 4: Pakistan: Tyre Market Forecast: Breakup by OEM and Replacement Segment (in Million Units), 2024-2032
Table 5: Pakistan: Tyre Market Forecast: Breakup by Domestic Production and Imports (in Million Units), 2024-2032
Table 6: Pakistan: Tyre Market Forecast: Breakup by Legitimate and Grey Market (in Million Units), 2024-2032
Table 7: Pakistan: Price Difference between Grey and Legitimate Tyre
Table 8: Pakistan: Tyre Market Forecast: Breakup by Radial and Bias Tyres (in Million Units), 2024-2032
Table 9: Pakistan: Tyre Market Forecast: Breakup by Tube and Tubeless Tyres (in Million Units), 2024-2032
Table 10: Pakistan: Tyre Market Forecast: Breakup by Region (in Million Units), 2024-2032
Table 11: Tyre Manufacturing Plant: Raw Material Requirements (in Units/Day)
Table 12: Tyre Manufacturing Plant: Project Planning
Table 13: Tyre Manufacturing Plant: Phasing of Development
Table 14: Environmental Impacts during Construction Phase
Table 15: Environmental Impacts during Operation Phase
Table 16: Mitigation Measures during Construction Phase
Table 17: Mitigation measures during operation phase
Table 18: Tyre Manufacturing Plant: Costs Related to Land and Site Development (in US$)
Table 19: Tyre Manufacturing Plant: Costs Related to Plant Machinery (in US$)
Table 20: Tyre Manufacturing Plant: Suppliers of Machinery
Table 21: Tyre Manufacturing: Specification of SBR 1712
Table 22: Tyre Manufacturing: Specification of SBR 1712
Table 23: Tyre Manufacturing: Specification of PBR 1210
Table 24: Tyre Manufacturing: Specification of Carbon Black
Table 25: Tyre Manufacturing: Specification of Bead Wire
Table 26: Tyre Manufacturing: Specification of Nylon-6,6
Table 27: Tyre Manufacturing Plant: Raw Material Requirements (in Units/Day) and Expenditures (US$/Unit)
Table 28: Tyre Manufacturing Plant: Suppliers of Machinery
Table 29: Tyre Manufacturing Plant: Costs Related to Packaging (US$/Unit)
Table 30: Tyre Manufacturing Plant: Costs Related to Utilities (in US$)
Table 31: Tyre Manufacturing Plant: Costs Related to Salaries and Wages (in US$)
Table 32: Tyre Manufacturing Plant: Costs Related to Other Capital Investments (in US$)
Table 33: Details of Financial Assistance Offered by Financial Institutions
Table 34: Tyre Manufacturing Plant: Capital Costs (in US$)
Table 35: Tyre Manufacturing Plant: Manufacturing Capacity
Table 36: Tyre Manufacturing Plant: Operating Costs
Table 37: Tyre Manufacturing Plant: Taxation (in US$/Year)
Table 38: Tyre Manufacturing Plant: Depreciation (in US$/Year)
Table 39: Tyre Manufacturing Plant: Income Projections (in US$)
Table 40: Tyre Manufacturing Plant: Expenditure Projections (in US$/Year)
Table 41: Tyre Manufacturing Plant: Liquidity Analysis Without Considering the Income Tax Liability (US$)
Table 42: Tyre Manufacturing Plant: Liquidity Analysis with Considering the Income Tax Liability (US$)
Table 43: Tyre Manufacturing Plant: Profitability Analysis Without Considering Tax Liability (in US$)
Table 44: Tyre Manufacturing Plant: Profitability Analysis on Considering the Income Tax Liability (in US$)
Table 45: Tyre Manufacturing Plant: Profit and Loss Account (in US$)
Table 46: Tyre Manufacturing Plant: Discount Factor Rate (in US$)
Table 47: Tyre Manufacturing Plant: Sensitivity Analysis (in US$)
Table 48: Tyre Manufacturing Plant: Profit and Loss Account When Key Parameter Prices Increases (in US$)
Table 49: Tyre Manufacturing Plant: Profit and Loss Account When Key Parameter Prices Decreases (in US$)
Table 50: Pakistan Tyre: Company Profiles
Table 51: General Tyre and Rubber Co. Ltd.: Key Financials (in Million US$)
Table 52: Service Industries Ltd.: Key Financials (in Million US$)