NEW YORK, May 5, 2016 /PRNewswire/ -- Iran has the largest automotive industry among the Middle Eastern countries. However, on account of sanctions imposed on Iran by P5 nations (China, France, Russia, UK and US) due to continuous expansion of nuclear programs by the country, the automobile production and sales witnessed a decline during 2010-14. However, after protracted negotiations between Iran and P5 nations, a Joint Comprehensive Plan of Action (JCPOA) was signed by both the sides in Austria on 14th July, 2015. This move is expected to stimulate economic activity in the country over the next five years, which in turn, would boost growth prospects for automobile and tyre industry in Iran. Anticipated revival in automobile industry is expected to drive OEM as well as replacement tyre demand, which is expected to translate into double digit growth of the country's tyre industry during the forecast period.
According to TechSci Research report "Iran Tyre Market Forecast & Opportunities, 2020", the replacement tyre segment accounted for around two-third of the market share in 2014. However, expected increase in automobile production during the forecast period is expected to increase the share of OEM tyre segment during 2015-20. Over the last few years, various international tyre brands like Bridgestone, Continental, Michelin etc. had restricted their operations in the country due to imposed sanctions on Iran. Consequently, over the course of last few years, tyre market in Iran has been dominated by domestic tyre companies like Barez Tyre, Kavir tyre, Yazd Tyre, etc. Easing of sanctions is expected to trigger re-entry of leading international players into the country, which would reduce the market dominance of domestic tyre manufacturers in Iran in the coming years. "Iran Tyre Market Forecast and Opportunities, 2020" discusses the following aspects related to tyre market in Iran:
- Iran Tyre Market Size, Share & Forecast
- Segmental Analysis – Passenger Car Tyres, Light Commercial Vehicle Tyres, Medium & Heavy Commercial Vehicle Tyres, Two-Wheeler Tyres & OTR Tyres
- Policy and Regulatory Environment
- Changing Market Trends and Emerging Opportunities
- Competitive Landscape and Strategic Recommendations
Why You Should Buy This Report?
- To gain an in-depth understanding of tyre market in Iran
- To identify the on-going trends and segment wise anticipated growth in the coming years
- To help industry consultants, tyre companies and other stakeholders to align their market-centric strategies
- To obtain research based business decision and add weight to presentations and marketing material
- To gain competitive knowledge of leading players
- To avail 10% customization in the report without any extra charges and get the research data or trends added in the report as per the buyer's specific needs
The information contained in this report is based on both primary and secondary sources. Primary research included interviews with tyre companies, distributors, retailers and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and other proprietary databases.
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