Navi Mumbai, India (PressExposure) June 25, 2011 -- Tyres offtake by different automobile segments directly reflect the pace of economic activities in a country. The performance of commercial vehicle tyres is directly linked to the country's economic development. India, being the world's second most populous and seventh largest country in terms of area has been orchestrating tremendous GDP growth rate for the last few years, which transform into the dynamic developments of various industries, including automobile and tyres.
According to our new research report "Indian Tyre Industry Analysis", the financial crisis had moderate negative effects on the commercial vehicle market, which created strongest demand for tyres in the country. At the peak of the crisis, the demand for commercial vehicles recorded sluggish growth due to the weak performance of infrastructure, construction, manufacturing, and other sectors. However, the commercial vehicle segment successfully regained its growth from FY 2010 onwards, in terms of both production and sales. The main reason for revival of growth in the commercial vehicle segment was improving demand from almost every core sector. It was reflected in increasing tyres offtake during FY 2010 and tyre production grew by around 18.3% over FY 2009.
India's market for radial tyres in commercial vehicles section is at its infant stage. Passenger car category switched to radial tyres in a short period of time with radicalization level reaching 98% in this segment. Besides, the radial tyre penetration is now starting to increase rapidly in the light commercial vehicle and truck & bus segment. This segment will become the largest growth area during the next few years.
Our report provides an extensive research and objective analysis of the Indian tyre industry and its different segments. The report presents authentic statistics and information of market structure, tyre production, and demand by segments, exports & imports trends till FY 2014. It also features a detail outline of import procedure for raw materials and tyres in the country. Forecasts for market potential have also been 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 the leading industry players with focus on their business description and recent developments. As the performance of tyre industry depends on the availability and prices of raw material, the report will help clients in understanding the impact of rubber prices fluctuation on the tyre industry.
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