A new research report titled, “Indian Radial Tyre Market Outlook to 2015”, from RNCOS says that in India, the demand for medium and heavy passenger carriers have been increasing incessantly. Keeping in view the huge potential of the Indian medium and heavy passenger carrier market, there is a demand for quality tyres and hi-tech methods for the manufacturing of tyres. Automobile manufacturers have also started adopting radial technology owing to the benefits offered by it. They are represented as an add-on feature in their vehicles for enhanced performance and productivity. Considering the above factors, the market of radial tyres for mid-heavy commercial vehicles will grow at a CAGR of 24% during FY 2011-2015.
Our research highlights that, players are not only expanding their capacities but trying to create awareness among the end-users about the benefits of the radial tyres. These initiatives are necessary from India’s perspective as people here are cost conscious and until they are not well informed about the benefits related to that cost they might not easily accept the new steel tyres. Further, the Indian radial tyre market has attracted global manufacturers on account of encouraging growth figures as the radial tyre market is expected to grow at a CAGR of 21% during FY 2011-2015.
The report, “Indian Radial Tyre Market Outlook to 2015”, by RNCOS which is spread over 50 pages provides an in-depth research and rational analysis of the market for radial tyres for various segments in India. It also facilitates the forecasts on total radial market, market of radial tyres for passenger vehicles, LCV’s and Mid-heavy Vehicles. Besides, it provides analysis of India in the global context. The analysis of the market drivers and trends as well as analysis of raw material and rubber prices is also included in the report.
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