Passenger Car Tyre Market in Iran
Market Overview
In 
, the Iranian passenger car tyre market was finally on the rise to reach $ after two years of decline. Over the period under review, consumption, however, continues to indicate a abrupt decrease. Passenger car tyre consumption peaked at $ in 2014; however, from 2015 to , consumption remained at a lower figure.
, the Iranian passenger car tyre market was finally on the rise to reach $ after two years of decline. Over the period under review, consumption, however, continues to indicate a abrupt decrease. Passenger car tyre consumption peaked at $ in 2014; however, from 2015 to , consumption remained at a lower figure.Consumption
In , after two years of decline, there was significant growth in consumption of tyres for motor cars, when its volume increased by % to units. Over the period under review, consumption, however, showed a significant decline. Passenger car tyre consumption peaked at units in 2007; however, from 2008 to , consumption failed to regain momentum.
The revenue of the passenger car tyre market in Iran soared to $ in , increasing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, recorded a deep reduction. Over the period under review, the market reached the maximum level at $ in 2014; however, from 2015 to , consumption remained at a lower figure.
, after two years of decline, there was significant growth in consumption of tyres for motor cars, when its volume increased by % to units. Over the period under review, consumption, however, showed a significant decline. Passenger car tyre consumption peaked at units in 2007; however, from 2008 to , consumption failed to regain momentum.The revenue of the passenger car tyre market in Iran soared to $
in , increasing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, recorded a deep reduction. Over the period under review, the market reached the maximum level at $ in 2014; however, from 2015 to , consumption remained at a lower figure.Market Forecast
Depressed by shrinking demand for passenger car tyre in Iran, the market is expected to continue its downward consumption trend over the next eight-year period. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to units by the end of .
In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to depress the market volume to units by the end of .In value terms, the market is forecast to contract with an anticipated CAGR of -
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Market Structure
Driven by a growing demand, the share of imports in total supply in Iran increased significantly over the last fifteen years (from % to %). Total import supply of passenger car tyre is expected to rise, though it will be moderately impacted by price increases. Passenger car tyre market in Iran consists almost entirely of imported products.
% to %). Total import supply of passenger car tyre is expected to rise, though it will be moderately impacted by price increases. Passenger car tyre market in Iran consists almost entirely of imported products.Trade Balance
Iran remains a net importer of passenger car tyre; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
. In , there was a significant trade deficit of units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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