The Indian tyre industry has been witnessing tremendous growth for the past few years on account of growth in automobiles demand, especially in passenger vehicles and two-wheeler segments. In fact, availability of raw material (natural rubber) and ultramodern production facilities has led the country to emerge as one of the world’s most competitive tyre markets. Driven by the strong demand in automobile OEM sector and replacement market, the India tyre industry has been witnessing stupendous growth from since the last two fiscal years.
Further, according to our research report, “Indian Tyre Industry Forecast to 2015”, the tyre production in India is anticipated to reach 191 Million Units by the end of FY 2016. Moreover, manufacturers are expected to invest huge amount into the industry over the next few years, with a major proportion of this investment directed towards the radial tyre capacity expansion.
Our study also finds out how tyre manufacturers are coming up with new technologies to provide customers with better products and services. The concept of ‘green tyres’ is becoming a paradigm of the country’s competitive edge. Technologies like self inflation by goodyear and run flat tyre (RFT) by bridgestone are paving the way in Indian market. This new category of tyres is now being widely accepted in India. Several greenfield projects are also there in pipeline to facilitate an increase in the domestic production capacity to meet the growing tyre demand in the country.
During the course of our study, it has also been found that India’s market for radial tyres in commercial vehicles section is still in its infancy. The passenger car segment switched to radial tyres in a short period of time, with radial tyre penetration level for the category reaching 100%. However, penetration level of radial tyre has also started to increase rapidly in the light commercial vehicles and truck & bus segment. This segment will be the largest growth area over the next few years.
We have found that companies are also looking for overseas plantation of rubber to meet their raw materials need which will help the companies to acquire raw material at cheaper prices. Apart from this, we have done the tyre manufacturing cost analysis in our report and found that raw material account for the major share in total cost. In addition, we have separately analyzed various raw materials cost in our report.
Further, tubeless tyres are gaining ground in Indian market as almost all the automobile manufacturers are launching their vehicles with tubeless tyres. This shows that tubeless tyre market will exhibit tremendous growth in the coming years.
Our report, “Indian Tyre Industry Forecast to 2015”, evaluates the future growth potential of India’s tyre industry, and provides statistics and information on market structure, tyre production by segments, exports and imports trends. Tyre market projections, in value terms, have been provided for all prominent segments, including passenger cars, utility vehicles, multi-purpose vehicles and two-wheelers.
Besides that, through the section of key players, we have tried to provide the insight of current market scenario and existing competition to our customers. Additionally, to provide clearer picture of competitive landscape, we have also included future plans & strategy of key players coupled with the comprehensive analysis of their strengths and weaknesses. All the above information covered in report will provide clients with cutting edge market intelligence and help them make sound investment decisions.