According to our research report “ Indian Tyre Industry Analysis”, the tyre industry in India has been strongly growing for the past few years owing to fast economic growth and increasing vehicle demand. The industry sustained its demand-supply growth during the post recessionary testing scenario and posted positive year-on-year growth in 2009. Radial tyre, in particular, has seen remarkable market developments amid its increasing acceptance and long term benefits. The research has further revealed that the segment will continue to see market developments, with double digit CAGR in the next 3-4 years.
The study has inferred that radial tyres are fast gaining acceptance in the Indian tyre industry. In fact, their penetration has reached around 98% in the passenger cars segment, whereas the light commercial vehicles and truck & bus segments are still underpenetrated. Various factors including improving road connectivity, government curbs against overloading of trucks along the major freight corridors will infuse radial tyres demand in the years to come.
Apart from radial tyres, we have done an extensive research on tubeless tyre segment that shows encouraging growth opportunities. The market is currently at the nascent stage, but is developing fast especially in Tire-1 and Tire-2 cities. Premium carmakers have already started rolling out their new models with tubeless tyres and its usage in compact cars is also increasing fast. The market for tubeless tyres is anticipated to grow rapidly in coming years and will provide enormous growth opportunities for domestic and foreign tyre manufacturers.
“ Indian Tyre Industry Analysis” is an outcome of extensive research and thorough analysis of the burgeoning tyre industry in India, its components and supporting raw material market trends. The report also discusses market structure, current and past market performance, segment wise future forecasts and factors critical to the success of the tyre industry.
Additionally, the report has emphasized on the tyre demand trends in prominent vertical industry segments, including passenger cars, utility vehicle, MUV’s and commercial vehicles. The evaluation provides sector wise tyre industry developments and facilitates deep understanding of future tyre demand prospects in these sectors, enabling a balanced market understanding.
For more information visit: http://www.rncos.com/Report/IM267.htm |
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