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Pakistan Tyre Market Types, Demand, Top Manufactures and Application in Grooming Regions
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According to the latest report by IMARC Group, titled " Pakistan Tire Market : Industry Trends, Share, Size, Growth and Forecast 2019-2024 ", the Pakistan Tire Market reached 20.9 Million Units in 2018, growing at a CAGR of nearly 6.4% during 2011-2018. Tires are strong and flexible, which are manufactured using natural or synthetic rubber, fabric and carbon black. They have a wheel drive and a secure grip between the vehicle and the road. In addition to this, they enhance the performance of the vehicle by providing a cushion which absorbs shocks and vibrations. They are installed in cars, trucks, nozzles, tractors, bicycles and motorcycles; common conveyances including wheelchairs and golf carts; and industrial vehicles like forklifts. At present, Pakistan is witnessing an increase in the motor vehicle rate, and growing growth in the automotive industry, which is spurring the demand for tires in the country.
Request Free Sample Report: https://www.imarcgroup.com/pakistan-tyre-market/requestsample
Pakistan Tire Market Trends:
The Pakistan tire market is currently experiencing growth in the growing demand for vehicles. This can be accredited to the rising population, rapid urbanization and inflating income levels of consumers. Apart from this, the government in the country is focusing on macroeconomic reforms that are resulting in the growth of construction, industrial and agriculture sectors. For example, the Government of Pakistan has recently approved the Seed Act Bill and Plant Breeders Bill, which, in turn, is boosting the sales of commodities in the sector. It is also raising taxes on the imports of domestic manufacturers. Further, with the rising demand for local as well as foreign manufacturers are investing in the region to expand their businesses. For instance, General Tire and Rubber Company (GTR), the leading company in Pakistan, has set up its new manufacturing unit in the Special Economic Zone (SEZ) in Faisalabad. Looking forward, the analysis of Pakistan tyre market size is estimated to reach 28.5 Million Units by 2024.
Pakistan Tire Market Summary:
· On the basis of the vehicle type, the market segment, the two-wheelers and the three-wheelers, the heavy trucks and the heavy commercial vehicles and the off-the-road (OTR) vehicles. At present, the two-wheelers and three-wheelers segment leads the market, holding the largest Pakistan tire market share.
· Replacement on the original equipment manufacturer (OEM) and replacement segments.
· The market has-been classified on the basis of legitimate and gray markets, with the legitimate market Currently accounting for the majorité of the total share.
· The production of imports and the production of domestic products is dominant.
· The market aussi HAS-been divided on the basis of the radial and bias tires, tires with radial holding the Largest market share.
· Based on the tube and tubeless tires, tubeless tires Currently Represent the leading segment.
· Region-wise, the market has been segregated in Punjab, Sindh, Khyber Pakhtunkhwa and Balochistan. Amongst these, Punjab represents the biggest market, holding the dominant share.
· The competitive landscape of the market HAS aussi beens Examined with Reviews some of the key players being white General Tire and Rubber Co. Ltd., Panther Tires Limited, Diamond Tires Limited, Service Industries Limited and Ghauri Tire and Tube Pvt. Limited.
Browse Full Report with TOC & List of Figure: https://www.imarcgroup.com/pakistan-tyre-market
IMARC Group is a leading market research firm that offers management strategy and market research worldwide. We partner with customers in their sectors to identify their highest-value opportunities, their most critical challenges, and their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, nanotechnology and novel processing methods are at the top of the company's expertise.
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For India market research reports, visit: http: // www. marketresearchindia.co.in
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