Noida, UP India (PressExposure) April 07, 2011 -- According to our research report "Indian Tyre Industry Analysis", the tyre industry in India witnessed a whole new dimension, during FY 2011, with sudden increase in demand for radial tyres in commercial vehicles segment. All major tyre manufacturers realized that a huge opportunity is coming towards the industry, and to grab the opportunity, capacity in truck & bus radial segment needs to be increased. This promoted interest of global players, like Michelin in the country's tyre sector, and a series of expansion plans from all major players were experienced. With strong replacement demand and increasing automobile sales, the industry is expected to grow at a CAGR of 8% during 2010-2014.
According to our research, the country will witness a growing market for all sub segments of the market however the primary driver for overall market will be commercial goods carriers and passenger cars segment. Along with this segment, activity in commercial passenger carrier, utility vehicles, and multipurpose vehicles will also sustain upward growth trend in the coming years. International export and import activities will also change substantially on the back of reasons discussed in the report.
Further, our report discusses the direction, in which, the Indian tyre industry is likely to move in near term. The report also features forecast for market potential in all market segments. It also includes changing dynamics of market share among market players. Besides, our report provides a thorough analysis and forecast on market potential of tubeless and radial tyres in coming years. It also covers the regulatory developments in the country's tyre industry.
"Indian Tyre Industry Analysis" provides latest developments in the tyre sector of India. Besides this, the report analyzes the market drivers critical to further growth and their impact on the tyre industry. Additionally, the report features business description of key players along with their recent activities. It also sheds light on the emerging market trends, which are expected to decide the future of the Indian tyre industry.
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