Iran Tyre Market Forecast and Opportunities, 2020
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- Date Submitted: 10/20/2015 04:01 AM
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20 Oct 2015- Mumbai, India: Bharatbook.com announces a report on “Iran Tyre Market Forecast and Opportunities, 2020”. 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.
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 this 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...
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 this 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...