NewswireToday - /newswire/ -
Noida, Uttar Pradesh, India, 2010/12/17 - Increasing awareness and fast increasing penetration in passenger car segment will enable the industry to grow at 21.5% CAGR by FY 2014, RNCOS acknowledged.
According to our latest market research offering “Indian Tyre Industry Analysis”, Indian tyre industry has orchestrated one of the fastest growth rates in Asian continent. Industry’ growth was intact even in the testing scenario of post recessionary period and both demand and supply variants were tremendously positive in FY 2010. The tubeless tyre segment, in particular, received remarkable market developments and the study confirmed its future market attractiveness with projected CAGR of around 21.5% during FY 2010 – FY 2014.
The research revealed that the segment is currently at its early growth stage in the country. During the past few years, almost every major car manufacturer has rolled out their new models with tubeless tyres. Still, the penetration of tubeless tyres is quite low in the passenger car segment. Low market penetration and increasing adoption of tubeless tyres in two wheelers and SUV’s are expected to dynamically expand the tubeless tyre market size in the country and will position India as one of the most attractive destinations for global players to invest and execute their business.
Apart from tubeless tyres, radials were found to be the next growth catalyst for the Indian tyre industry. Conventional cross-ply tyres are rapidly being replaced by radial ones and companies are betting big on this segment. All prominent tyre manufacturers have announced their capacity expansion plans to set up new Greenfield radial tyres production plants. Government’s thrust on building road infrastructure, golden quadrilateral project, and increasing acceptance of radial tyres will enable the industry to intensify market developments.
Our report “Indian Tyre Industry Analysis” is an outcome of extensive research and objective analysis of the Indian tyre industry potentials. The report provides statistics and information of market structure, tyre production, and demand by segments, exports, and imports trends till FY 2014. Market potential estimations and forecasts have been also covered for radial tyre industry and tubeless tyre segments to empower clients with cutting edge market intelligence. The report also contains information about the regulatory environment and leading industry players with focus on their business description and recent developments thus, enabling a balanced market understanding on the concerned industry.
RNCOS (rncos.com) specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.