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India has appeared as one of the world's most competitive tyre markets due to vast availability of raw material and ultra modern production facilities. Indian Radial tyre market has captivated global manufacturers on account of encouraging growth figures. As per RNCOS analysis, the radial tyre market in India was estimated to be INR 235 Billion in FY 2013 which is anticipated to grow at a CAGR of 10% over the period FY 2014-FY 2018 reaching INR 380 Billion by 2018.

Highlighting the potential of this industry, Shushmul Maheshwari, CEO - RNCOS said that entry of international players and cost effectiveness of such tyres have been the major growth drivers for this industry. He also highlighted that capacity expansion by tyre manufacturers as well as the replacement demand are also encouraging the growth of this industry.

Our analysis suggests that looking at the massive opportunity beyond the passenger car segment international players is now entering in other segments of the radial tyres in India. Apart from the growth of radial tyre business in India in passenger cars, trucks and buses and Light commercial vehicles, the companies are looking opportunity in two-wheeler segment as well. By 2017, it is expected that radial tyre companies will expand their production capacity in order to cater to the demand for such tyres in future. Due to easy accessibility of raw materials in Chennai and Kerala, tyre companies involved either in expansion or installation of new plants focused in these regions are expected to be the same in future.

Indian Radial tyre market is largely untapped and is providing huge potential in coming five years. RNCOS acts as your growth partner in all your business endeavors, be it product launching, geographic expansion, sales improvement, distributor/retailer tie-ups etc. We help to make your business flourish by studying the market dynamics, collating with you business and devising the right strategies.

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