Tyre Market in Iran
Market Overview
The Iranian tyre market skyrocketed to $
in , growing 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). Overall, consumption, however, saw a deep reduction. Over the period under review, the market attained the peak level at $ in 2007; however, from 2008 to , consumption remained at a lower figure.
in , growing 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). Overall, consumption, however, saw a deep reduction. Over the period under review, the market attained the peak level at $ in 2007; however, from 2008 to , consumption remained at a lower figure.Consumption
In , approx. units of tyres were consumed in Iran; which is down by -% compared with the previous year. Over the period under review, consumption saw a drastic downturn. As a result, consumption attained the peak volume of units. From 2010 to , the growth of the consumption failed to regain momentum.
The value of the tyre market in Iran dropped to $ in , declining 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). Overall, consumption continues to indicate a deep contraction. Over the period under review, the market hit record highs at $ in 2007; however, from 2008 to , consumption stood at a somewhat lower figure.
, approx. units of tyres were consumed in Iran; which is down by -% compared with the previous year. Over the period under review, consumption saw a drastic downturn. As a result, consumption attained the peak volume of units. From 2010 to , the growth of the consumption failed to regain momentum.The value of the tyre market in Iran dropped to $
in , declining 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). Overall, consumption continues to indicate a deep contraction. Over the period under review, the market hit record highs at $ in 2007; however, from 2008 to , consumption stood at a somewhat lower figure.Consumption by Type
Tyres for motorcycles or bicycles ( units) constituted the product with the largest volume of consumption, comprising approx. % of total volume. It was followed by tyres for motor cars ( units), with a % share of total consumption. Tyres for buses or lorries ( units) ranked third in terms of total consumption with a % share.
From 2007 to, the average annual growth rate of the volume of tyres for motorcycles or bicycles consumptions amounted to -%. With regard to the other consumed products, the following average annual rates of growth were recorded: tyres for motor cars (-% per year) and tyres for buses or lorries (-% per year).
In value terms, tyres with the largest market size in Iran were tyres for motorcycles or bicycles ($), tyres for buses or lorries ($) and tyres for motor cars ($), together accounting for % of the total market.
Tyres for motorcycles or bicycles, with a CAGR of -%, recorded the highest rates of growth with regard to market size among the main consumed products over the period under review, while market for the other products experienced a decline.
units) constituted the product with the largest volume of consumption, comprising approx. % of total volume. It was followed by tyres for motor cars ( units), with a % share of total consumption. Tyres for buses or lorries ( units) ranked third in terms of total consumption with a % share.From 2007 to
, the average annual growth rate of the volume of tyres for motorcycles or bicycles consumptions amounted to -%. With regard to the other consumed products, the following average annual rates of growth were recorded: tyres for motor cars (-% per year) and tyres for buses or lorries (-% per year).In value terms, tyres with the largest market size in Iran were tyres for motorcycles or bicycles ($
), tyres for buses or lorries ($) and tyres for motor cars ($), together accounting for % of the total market.Tyres for motorcycles or bicycles, with a CAGR of -
%, recorded the highest rates of growth with regard to market size among the main consumed products over the period under review, while market for the other products experienced a decline.Market Forecast
Depressed by shrinking demand for tyre in Iran, the market is expected to continue its downward consumption trend over the next eight years. 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
Tyre market in Iran remained dependent on supplies from foreign countries. In , the share of imports in total consumption was % in value terms and % in physical terms. Affected by an intensive growth in domestic production, which will gradually displace imported products from the market, the share of imports decreased from % in 2007 to % in . Iran domestic supply is expected to continue its growth.
, the share of imports in total consumption was % in value terms and % in physical terms. Affected by an intensive growth in domestic production, which will gradually displace imported products from the market, the share of imports decreased from % in 2007 to % in . Iran domestic supply is expected to continue its growth.Trade Balance
Iran remains a net importer of 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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