Indian Radial Tyre Market Outlook to 2015
India has emerged as one of the world’s most competitive tyre markets due to vast availability of raw material (natural rubber) and ultramodern production facilities. The focus of leading industry players has shifted towards brand establishment and strengthening distribution network, which have resulted into an improvement in their market share.
According to our research report “Indian Radial Tyre Market Outlook to 2015”, the Indian radial tyre market has attracted global manufacturers on account of encouraging growth figures. These manufacturers are expected to invest huge amounts into the industry over the next few years, with a major proportion of this investment directed towards the Truck & Bus (T&B) radial tyre capacity expansion. http://www.bharatbook.com/market-research-reports/transportation-market-research-report/indian-radial-tyre-market-outlook-to-2015.html
As per the study, higher return and cost effectiveness has been the major driving force for increasing radilaization in Indian tyre industry. The other advantages of radial tyres include fuel efficiency, longevity, retreading and environmental benefits. In fact, fuel efficiency of a radial tyre is 5% higher in case of new vehicles and 3% when it comes to old vehicles . Moreover, significant expansion of vehicle population would transform in healthy replacement demand for radial tyres. However, growth in M&HCV replacement demand however could be affected by a slower economic growth. Market Research
As per our analysis driving on various factors discussed in the report, the radial tyre market is expected to reach INR 393 Billion by FY 2015 growing at a CAGR of more than 21% during FY2011-FY2015. India’s market for radial tyres in commercial vehicles section is still an infant. The passenger car segment switched to radial tyres in a short period of time, with radial tyre penetration level for the category reaching 98%. Besides, the 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.
Further, several greenfield plants are in pipeline to include new capacities. The implementation of brownfield projects is executed to cater to the growing demand. Greenfield units are expected to go on-stream in the coming years, just by the time when there will be an urgent need to bridge an increasing demand-supply gap in T&B radial tyre segment.
The report evaluates the future growth potential of India’s radial tyre industry, and provides statistics and information on market structure, radial tyre market by segments in value terms, exports and imports trends have been provided for all prominent segments, including passenger cars, light commercial vehicles and mid-heavy commercial vehicles. The report also provides insight into the rubber price analysis, raw material demand scenario and tyre retreading analysis. This will provide clients with cutting edge market intelligence and help them make sound investment decisions.
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Indian Radial Tyre Market Outlook to 2015
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