Iran has the largest automotive industry among the Middle East countries. In Iran, the automobile industry is also the second largest sector after oil and gas. As Iran is surrounded by about 20 developing countries, the country provides ample opportunities to various major domestic automotive manufacturers such as Khodro and Sapia to access neighboring marketsthat offer a potential customer base of over 300 million. These players, apart from catering to the domestic automobile demand, also export automobiles to neighboring countries such as Kazakhstan, Venezuela, Turkmenistan, Ukraine, etc. These manufacturers, along with their own car models, have secured licenses from global automotive players for the manufacturing different car models. In 2011, Iran was ranked 11th in terms of global automobile production, however, due to sanctions imposed on the country by the US and EU, the country’s position slipped to 18th in 2012. The sanctions affected the economy of Iran as the automobile production and sales volume registered a double digit negative year-on-year growth in 2012. However, by the end of 2013, the sanctions on Iran were removed. This is expected to significantly boost the automotive and tire industry of the country over the next five years.
According to “Iran Tyre Market Forecast & Opportunities, 2018”, the tire market in Iran is expected to grow at a CAGR of around 7% during 2013-18 in revenue terms. The primary reason can be attributed to anticipated increase in demand for automobiles and tires in the domestic market over the next five years. In 2012, about 50% of the total fleet of automobiles in Iran was more than 25 years old and the vehicle per capita in Iran was also low with about 89 vehicles per thousand people. The tire market in Iran is dominated by domestic manufacturers such as Barez, Kavir, Yazd and Goldstone, while global players such as Goodyear, Kumho, Bridgestone and Pirelli also account for a significant market share. Major provinces such as Azerbaijan and Khuzestan, and cities such as Tehran and Semnan are expected to generate considerable demand for tires over the next five years. “Iran Tyre Market Forecast & Opportunities, 2018” discusses the following aspects related to tire market expansion in Iran:
Why You Should Buy This Report?
- Iran Tire Market Size, Share & Forecast
- Segmental Analysis – Passenger Car Tire, Two Wheeler Tire, Commercial Tire and OTR Tire
- Policy & Regulatory Landscape
- Changing Market Trends &Emerging Opportunities
- Competitive Landscape & Strategic Recommendations
Report Methodology The information contained in this report is based upon both primary and secondary sources. Primary research included interviews with tire manufacturers, distributors and industry personnel. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases. Analyst access from TechSci Research All report purchases include up to 45 minutes telephone time with our Industry Analyst, who will help you to link key findings in the report with the business issues you're addressing. This needs to be used within two months of purchasing the report
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