Pakistan Tire Market Forecast & Opportunities 2026

1. 2016–2026 PAKISTAN TIRE MARKET Forecast and Opportunities Published on: September 2021 www.techsciresearch.com MARKET INTELLIGENCE. CONSULTING

2. Table of Contents S. No. Contents 1. Product Overview 2. Research Methodology 3. Executive Summary 4. Voice of Customer 4.1. Factors Influencing Purchase Decision 4.2. Brand Recall 4.3. Brand Switching 4.4. Brand Satisfaction Level 5. Pakistan Tire Market Outlook, 2016-2026F 5.1. Market Size & Forecast 5.1.1. By Value & Volume 5.2. Market Share & Forecast (By Volume) By Vehicle Type (Two-Wheeler, Passenger Car, OTR, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle) 5.2.1. 5.2.2. By Demand Category (OEM & Aftermarket) 5.2.3. By Tire Construction Type (Radial Vs Bias) 5.2.4. By Sales Channel (Offline & Online) 5.2.5. By Price Segment (Ultra Budget, Budget, Premium) 5.2.6. By Region 5.2.7. By Top Five Cities (2020) 5.2.8. By Company (2020) 5.3. Vehicle Fleet Size 2016-2026 5.4. Product Market Map (By Vehicle Type, By Region) 2 2 © TechSci Research Automotive

3. Table of Contents S. No. Contents 6. Pakistan Two-Wheeler Tire Market Outlook, 2016-2026F 6.1. Market Size & Forecast 6.1.1. By Value & Volume 6.2. Market Share & Forecast (By Volume) 6.2.1. By Vehicle Type (Motorcycle, Scooters/Mopeds) 6.2.2. By Demand Category 6.2.3. By Tire Construction Type 6.2.4. By Sales Channel 6.2.5. By Rim Size 6.2.6. By Price Segment 6.3. Prominent Tire Sizes 6.4. Two-Wheeler Fleet Size 2016-2026 7. Pakistan Passenger Car Tire Market Outlook, 2016-2026F 7.1. Market Size & Forecast 7.1.1. By Value & Volume 7.2. Market Share & Forecast (By Volume) 7.2.1. By Vehicle Type (Hatchback, Sedan, SUV/MPV) 7.2.2. By Demand Category 7.2.3. By Tire Construction Type 7.2.4. By Sales Channel 7.2.5. By Rim Size 7.2.6. By Price Segment 7.3. Prominent Tire Sizes 7.4. Passenger Car Fleet Size 2016-2026 3 3 © TechSci Research Automotive

4. Table of Contents S. No. Contents 8. Pakistan OTR Tire Market Outlook, 2016-2026F 8.1. Market Size & Forecast 8.1.1. By Value & Volume 8.2. Market Share & Forecast (By Volume) By Application Type (Mining Vehicles, Construction & Industrial Vehicles, Agricultural Vehicles and Others) By Demand Category 8.2.1. 8.2.2. 8.2.3. By Tire Construction Type 8.2.4. By Sales Channel 8.2.5. By Rim Size 8.2.6. By Price Segment 8.3. Prominent Tire Sizes 8.4. OTR Fleet Size 2016-2026 9. Pakistan Light Commercial Vehicle (LCV) Tire Market Outlook, 2016-2026F 9.1. Market Size & Forecast 9.1.1. By Value & Volume 9.2. Market Share & Forecast (By Volume) 9.2.1. By Vehicle Type (Pickup Truck, Panel Van) 9.2.2. By Demand Category 9.2.3. By Tire Construction Type 9.2.4. By Sales Channel 9.2.5. By Rim Size 9.2.6. By Price Segment 9.3. Prominent Tire Sizes 9.4. Light Commercial Vehicle Fleet Size 2016-2026 4 4 © TechSci Research Automotive

5. Table of Contents S. No. Contents 10. Pakistan Medium & Heavy Commercial Vehicle (M&HCV) Tire Market Outlook, 2016-2026F 10.1. Market Size & Forecast 10.1.1. By Value & Volume 10.2. Market Share & Forecast (By Volume) 10.2.1. By Vehicle Type (Truck and Bus) 10.2.2. By Demand Category 10.2.3. By Tire Construction Type 10.2.4. By Sales Channel 10.2.5. By Rim Size 10.2.6. By Price Segment 10.3. Prominent Tire Sizes 10.4. Medium & Heavy Commercial Vehicle Fleet Size 2016-2026 11. Import-Export Analysis 12. Supply Chain Analysis 13. Market Dynamics 13.1. Drivers 13.2. Challenges 14. Market Trends and Developments 15. Policy and Regulatory Landscape 16. Prominent Dealers/Distributors 17. Pakistan Economic Profile 18. Impact of COVID-19 on Pakistan Tire Market 5 5 © TechSci Research Automotive

6. Table of Contents S. No. Contents Page No. 19. Competitive Landscape 104 105 19.1. Servis Tyres Bridgestone Corporation 106 19.2. The General Tyre and Rubber Company of Pakistan Limited 107 19.3. Panther Tyres Limited 108 19.4. Ghauri Tyre & Tube Pvt Ltd 109 19.5. Diamond Tyres Ltd. 110 19.6. Yokohama Rubber Co. Ltd 111 19.7. Crown Tyres Limited 112 19.8. Michelin 113 19.9. Goodyear Tire and Rubber Company 114 19.10. 20. Strategic Recommendations 115 About Us & Disclaimer 21. 121 6 6 © TechSci Research Automotive

7. Product Overview

8. Scope of Report Product of Interest (POI): Tire Tire is a ring like component that encircles the vehicle’s rim and meets the ground. Tires are filled with compressed air to provide a gripping surface for traction on the surface over which the vehicle travels. Most vehicles are equipped with pneumatic tires where air is held under pressure inside the tire. Natural rubber is extensively used in fabrication of tires. However, the modern tires make use of materials like synthetic rubber, fabric, steel wires, carbon black, etc. adding advanced characteristics to the tires. Market Segmentation TIRE CONSTRUCTION TYPE Radial VEHICLE TYPE PAKISTAN TIRE MARKET Passenger Car • Year Range • Light Commercial • Bias • SALES CHANNEL • Offline Vehicle (LCV) Review Period Medium and Heavy • 2016 – 2019 Commercial Vehicle Online • Base Year (M&HCV) DEMAND CATEGORY OEM 2020 Off the Road (OTR) • • Two-Wheeler • Aftermarket Estimated Year • REGION 2021 PRICE SEGMENT Punjab • Ultra Budget • Forecast Period Sindh • Budget • 2022 – 2026 Khyber Pakhtunkhwa • Premium • Others • 8 8 © TechSci Research Automotive

9. Research Methodology

10. Research Methodology Market Profiling •In-depth secondary research was conducted to determine top players market, overall market market size. in the Pakistan and Tire Research & Intelligence Data Collection Data Filter & Analysis Actionable Insights Business Solution size segmental Formulating Questionnaire •In order to conduct industry experts’ interviews, TechSci formulated a detailed questionnaire. Identifying Key Opinion Leaders Questionnaire Design In-depth Interviews ❑ ❑ ❑ Developing List of Respondents A Recent Developments Market Changing Aspects/Dynamics Government Policies Final Conclusion ❑ Primary Research •List of industry players and industry specialists was developed. ❑ B Desk Research ❑ Data Collection C ❑ Company Analysis •TechSci experts and industry players for data collection and verification. conducted interviews with industry Market Participants Key Strengths ❑ ❑ Data Validation Primary Research Secondary Research Paid Sources •Data secondary rigorous triangulation. obtained as a result was of primary and research validated through LinkedIn TechSci Internal Database Company Website Company Annual Reports White Paper Study Financial Reports Investor Presentations Regulatory Body Associations, etc. Factiva Hoovers ❑ ❑ ❑ ❑ ❑ ❑ Data Analysis ❑ ❑ ❑ •The data was scrutinized using MS-Excel and statistical tools, such as Time Series Analysis, etc. to obtain qualitative insights about the Pakistan Tire market. ❑ ❑ and quantitative 10 10 © TechSci Research Automotive

11. Research Methodology Baseline Methodology: For the study, TechSci Research gathered information through primary research surveys with leading tire OEMs operating across the country. We also put through an exhaustive search of credible paid databases, such as Business Week, Factiva, Hoovers, etc., including our internal database. Our team of analysts has then prudently evaluated all the collected information and presented the same in chronological order to depict a meaningful and clear picture of the Pakistan Tire market. While compiling the data, we have also cross checked all the collected information from multiple sources and data warehouses, so as to present the most accurate and precise information of the concerned industry. All the data representation done here is in calendar year period, starting from 1stJanuary 2020 to 31stDecember 2020 until mentioned otherwise. Primary Research – Partial List of Companies Interviewed Few Sources of Secondary Research S. No. Company/Dealers & Distributor Names S. No. Secondary Sources 1. Servis Tyres 2. Bridgestone Corporation 1. OICA The General Tyre and Rubber Company of Pakistan Limited 3. 2. World Bank 4. Panther Tyres Limited PAMA 3. 5. Ghauri Tyre & Tube Pvt Ltd 6. Diamond Tyres Ltd. Industry Magazines 4. 7. Yokohama Rubber Co. Ltd 8. Crown Tyres Limited Credible Paid Database 5. 9. Michelin 10. Goodyear Tire and Rubber Company 11 11 © TechSci Research Automotive

12. Research Methodology Tire Production TechSci Research has mapped production capacities of almost all tire manufacturing facilities in Pakistan, with the help of a series of primary research surveys of all the major tire manufacturing companies in the country, followed by validation through secondary sources such as company annual reports and industry associations. TechSci Research has been successful in identifying the production capacities of each tire plant as well as their respective plant locations, establishment dates and type of tires manufactured. Vehicle Production, Sales & Fleet Size Basic data points needed for analysis of Pakistan Tire market are the historical, current and forecast figures for vehicle production, sales and fleet size. Data for vehicle sales and fleet size has been extracted through various secondary sources and credible data portals. TechSci Research has also maintained a database for vehicle sales and fleet size for two-wheelers, which is regularly updated through various primary research surveys and secondary sources such as tire associations & government publications. Tire Demand OEM Tire Sales OEM tire demand has been calculated by multiplying the average number of tires per vehicle to the total number of vehicles produced. For example, for two-wheeler segment, the average number of tires is considered to be two and for passenger cars, the average number of tires is five. 12 12 © TechSci Research Automotive

13. Research Methodology Replacement Tire Sales Replacement tire demand of a particular country is directly dependent on the country’s vehicle fleet size and historical vehicle sales. Replacement tire demand is calculated by multiplying vehicle fleet with replacement tire ratio, which is obtained by conducting a series of surveys with car owners to understand the frequency of tire replacement, as it varies for different countries depending upon the country’s road conditions, climate, economic and regulatory policies, etc. The replacement ratio is expressed as a percentage. For example, in case of two-wheeler, replacement ratio is considered to be 100% if two tires are replaced per vehicle per year. For instance, for passenger car replacement tire demand calculation: Two-wheeler Fleet Size (Volume) Replacement Ratio (%) Replacement Tire Demand X X No. of Tires = 100,000 X 19% X 2 = 38,000 Tires The calculated replacement tire demand data is further analyzed by TechSci Research through Delphi technique, i.e., multiple rounds of telephonic interviews with tire companies/dealers in Pakistan. The information collected is then cross-verified through industry experts and secondary sources, such as annual reports and paid databases to generate meaningful results. Total Tire Market Forecast OEM Tire Sales + Replacement Tire Sales = Total Tire Market Forecast For forecasting the numbers, we have used time series analysis along with regression analysis, followed by judgmental analysis. 13 13 © TechSci Research Automotive

14. Industry Brief According to TechSci Research report, “Pakistan Tire Market By Vehicle Type (Two-Wheeler, Passenger Car, OTR, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle), By Demand Category (OEM & Aftermarket), By Tire Construction Type (Radial and Bias), By Sales Channel (Offline and Online), By Price Segment (Ultra Budget, Budget, Premium), By Region, Competition, Forecast & Opportunities, 2026”, Pakistan tire market is anticipated to reach USD 1.65 billion at a CAGR of 8.47% by 2026 because of rapidly broadening fleet size of vehicles. The increase in per capita income has resulted in an increase in purchasing power as well as a rise in the population's standard of living. This has resulted in advancement of vehicle sales as well as expansion of fleet size, leading to increase in the replacement demand for tires in Pakistan. Also, high restoration rate has been witnessed due to poor infrastructure in rural areas across the country. When vehicles are driven on poor roads, tires tread wears down speedily and results in increased aftermarket tire demand. An increasing number of new models of cars are being launched due to high interest and choice among citizens in Pakistan. Consequently, various passenger car manufacturers are asserting the introduction of new models with enhanced and advanced safety features. The demand for two wheelers is going to remain high in the near future, which is expected to boost the demand for tires in Pakistan through 2026. However, during the COVID-19 outbreak, which led to economic crisis in 2020, the country's automotive sales collapsed considerably. Following the COVID-19, the tire market has again gained some pace in Pakistan. Following a compelling reduction in production and sales in recent months, vehicle production has resumed, with sales also increasing, which has increased the demand for tires in the OEM category. Increased tires sales via e-commerce websites are also benefiting the tires market. Pakistan tire market can be segmented based on demand category, by vehicle type, by tire construction type, by sales channel, by price segment and by region. On the basis of demand category, aftermarket tires dominate the overall Pakistan tire market with around 72% of total market share in 2020. And because of expanding fleet size of the vehicle, it is forecasted that the trend is going to be the same in upcoming years also. On the basis of vehicle type, two-wheelers tires are leading the Pakistan tire market with more than half of the total market followed by passenger cars, OTR, LCV and M&HCV. In the forecast period also, it is expected that two-wheeler tires will generate the highest demand in terms of vehicle type in the Pakistan tire market. On the basis of tire construction type, bias tires are monopolizing the Pakistan tire market over radial tire with almost 77% of the market share. This is mainly due to the expected increase in fleet of two wheelers in the forecast period. Servis Tyres, Panther Tyres Limited, The General Tyre and Rubber Company of Pakistan Limited, Diamond Tyres Ltd., Goodyear Tire and Rubber Company, Others (Ghauri Tyre & Tube Pvt Ltd, Yokohama Rubber Co. Ltd, etc.) are the key players in the market. The key players are developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers and acquisitions, new product developments. They are also increasing their marketing activities and enriching product portfolio across the country to increase their customer outreach. “In 2020, two-wheelers tires accounted for the largest share in Pakistan tire market. This segment is expected to dominate in the future as well because of rising sales and growing fleet size of two-wheelers in Pakistan.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm. 14 © TechSci Research Automotive

15. Sample Data - Snapshot Pakistan Tire Market Size, By Value (USD Billion), 2016-2026F CAGR 2016-2020 By Value: xx% CAGR 2021E-2026F By Value: xx% 1.80 1.60 1.40 1.20 1.00 0.80 0.60 0.40 0.20 0.00 2016 2017 2018 2019 2020 2021E 2022F 2023F 2024F 2025F 2026F Value (USD Billion) Pakistan Two-Wheeler Tire Market Share, By Vehicle Type, By Volume, 2016–2026F 2016 40.00% 60.00% 2017 40.00% 60.00% 2018 40.00% 60.00% 2019 40.00% 60.00% 2020 40.00% 60.00% 2021E 40.00% 60.00% 2022F 40.00% 60.00% 2023F 40.00% 60.00% 2024F 40.00% 60.00% 2025F 40.00% 60.00% 2026F 40.00% 60.00% Motorcycle Scooters/Mopeds Pakistan Medium & Heavy Commercial Vehicle Tire Market Share, By Demand Category, By Volume, 2016–2026F 2016 40.00% 60.00% 2017 40.00% 60.00% 2018 40.00% 60.00% 2019 40.00% 60.00% 2020 40.00% 60.00% 2021E 40.00% 60.00% 2022F 40.00% 60.00% 2023F 40.00% 60.00% 2024F 40.00% 60.00% 2025F 40.00% 60.00% 2026F 40.00% 60.00% Aftermarket OEM 15 © TechSci Research Automotive

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17. About Us & Disclaimer TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in number of areas to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market. Related Reports • Baltic Tire Market By Vehicle Type (Passenger Car, Medium & Heavy Commercial Vehicle, Light Commercial Vehicle, OTR, Two-Wheeler), By Demand Category (Replacement, OEM), By Tire Type (Radial, Bias), By Country, Competition, Forecast & Opportunities, 2026 2026 • Global Premium Two-Wheeler Tire Market By Type (Standard, Cruiser, Sport, Touring, Adventure Sport) By Demand Category (OEM vs Replacement) By Tire Type (Radial vs Bias) By Rim Size (up to 16inch, 16-17inch, Above 17inch), By Region, Company Forecast & Opportunities, 2026 • United States OTR Tire Market, By Application Type (Construction, Agriculture, Mining, Material Handling, Ports, Forestry and Others), By Demand Category (Replacement, OEM), By Rim Size (Upto 25’’, Above 25”), By Tire Construction (Bias, Radial), By Region, Competition Forecast & Opportunities, 2026 TechSci Research – North America 708 Third Avenue, Manhattan, New York, United States Tel: +1- 646- 360- 1656 Email: sales@techsciresearch.com www.techsciresearch.com TechSci Research – Europe 54, Old brook, Bretton, Peterborough, United Kingdom Email: sales@techsciresearch.com www.techsciresearch.com TechSci Research – Asia-Pacific B – 44, Sector – 57, Noida, National Capital Region, U.P. - India Tel: +91-120-4523900 Email: sales@techsciresearch.com www.techsciresearch.com Disclaimer The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.