Pakistan: Passenger Car Tyre Market 2024

Passenger Car Tyre Market Size in Pakistan

The Pakistani passenger car tyre market surged to $X in 2021, growing by 19% against the previous year. Overall, the total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +27.6% against 2018 indices. Passenger car tyre consumption peaked in 2021 and is likely to see steady growth in the near future.

Passenger Car Tyre Production in Pakistan

In value terms, passenger car tyre production soared to $X in 2021 estimated in export price. Over the period under review, production, however, showed resilient growth. The growth pace was the most rapid in 2016 with an increase of 154%. Passenger car tyre production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Passenger Car Tyre Exports

Exports from Pakistan

For the fourth year in a row, Pakistan recorded decline in overseas shipments of tyres for motor cars, which decreased by -63.6% to X units in 2021. Over the period under review, exports faced a abrupt curtailment. The growth pace was the most rapid in 2017 with an increase of 1,634% against the previous year. As a result, the exports attained the peak of X units. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, passenger car tyre exports declined sharply to $X in 2021. In general, exports showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 1,970%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Egypt (X units), Afghanistan (X units) and the Netherlands (X units) were the main destinations of passenger car tyre exports from Pakistan, together comprising 57% of total exports. The United Arab Emirates, Yemen, Germany and the UK lagged somewhat behind, together comprising a further 31%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +19.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for passenger car tyre exported from Pakistan were Egypt ($X), the United Arab Emirates ($X) and the Netherlands ($X), with a combined 53% share of total exports.

Among the main countries of destination, the United Arab Emirates, with a CAGR of +13.9%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average passenger car tyre export price amounted to $X per unit, reducing by -12% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 94%. The export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per unit), while the average price for exports to Yemen ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Yemen (+11.9%), while the prices for the other major destinations experienced a decline.

Passenger Car Tyre Imports

Imports into Pakistan

In 2021, overseas purchases of tyres for motor cars increased by 56% to X units, rising for the second consecutive year after two years of decline. Overall, imports showed strong growth. The most prominent rate of growth was recorded in 2020 with an increase of 123% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in the immediate term.

In value terms, passenger car tyre imports surged to $X in 2021. Over the period under review, imports, however, showed a mild downturn. The most prominent rate of growth was recorded in 2020 with an increase of 121% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest passenger car tyre supplier to Pakistan, with a 62% share of total imports. Moreover, passenger car tyre imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), eightfold. The third position in this ranking was held by Indonesia (X units), with a 5.3% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+1.2% per year) and Indonesia (-5.2% per year).

In value terms, China ($X) constituted the largest supplier of tyres for motor cars to Pakistan, comprising 45% of total imports. The second position in the ranking was taken by Japan ($X), with an 11% share of total imports. It was followed by Thailand, with a 5.9% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-6.8% per year) and Thailand (-7.2% per year).

Import Prices by Country

In 2021, the average passenger car tyre import price amounted to $X per unit, with an increase of 12% against the previous year. In general, the import price, however, saw a deep setback. The most prominent rate of growth was recorded in 2015 an increase of 25% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was South Korea ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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