According to a new research report by RNCOS, India has emerged as one of the world’s most competitive tyre markets due to vast availability of raw material (natural rubber) and ultra modern production facilities. However, the FY 2009 was a quite disturbing period for the industry as the tyre demand-supply was severely hit by recession. Nonetheless, the effect of recession did not last long and the industry posted a remarkable growth in FY 2010.
Research Analysis and Highlights
The report, “Indian Tyre Industry Analysis”,by RNCOS spread over 70 pages, 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, has been provided for all prominent segments, including passenger cars, utility vehicles, and multi-purpose vehicles. This will provide clients with cutting-edge market intelligence and facilitate them towards taking sound investment decisions.
Some of the Key Highlights of the Report are as follows:
- Wide acceptance of radial tyres in India.
- Expected growth of tyre production in India at a CAGR of around 10% during FY 2011-2014.
- Impressive growth of passenger car tyres on account of increasing vehicle sales and replacement demand.
- The concept of ‘green tyres’ becoming a paradigm of the country’s competitive edge.