With increasing level of radialization, gradual improvements in road infrastructure and launch of advanced vehicle platforms (World Truck from Tata Motors, new Volvo trucks and Actros range from Mercedes Benz) is increasing the demand for premium tyres in the Indian market. Also, with automotive OEMs (like Hyundai, Nissan, Suzuki) increasingly looking at India as a manufacturing hub, demand for high quality radial tyres in the Indian market is set to grow at a robust phase in the coming years. Besides this, international manufacturers like Michelin, Bridgestone, etc are coming with new investments for radial tyre projects that will boost the demand for International tyres in the country.
Further, according to a new research report, “Indian Radial Tyre Market Outlook to 2015”, the country has emerged as one of the world's most competitive radial tyre markets due to the vast availability of natural rubber, and ultramodern production facilities. In India, the focus of the leading tyre manufacturers has shifted towards brand establishment and strengthening distribution network. This, in turn, has, improved their market shares and given a new dimension to the Indian radial tyre industry. On the back of strong developments in the automobile sector, improving purchasing power, and growing technological capabilities, the market for radial tyres is anticipated to grow at a CAGR of 21% during FY 2011-2015.
Our research highlights that, players are not only expanding their capacities but trying to create awareness among the end-users about the benefits of the radial tyres. These initiatives are necessary from India’s perspective as people here are cost conscious and until they are not well informed about the benefits related to that cost they might not easily accept the new steel tyres.
Our report also provides an in-depth research and rational analysis of the market for radial tyres in India. The comprehensive study provides forecasts for the total radial market in India, and the radial tyre market size for passenger vehicles, light commercial vehicles, and Mid-heavy Vehicles. The thorough research work also includes the analysis of the Indian radial tyre market in the global context. For complete understanding of the market, the report also analyzes drivers, key trends, and raw material prices.
For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM410.htm
Some of our Related Reports are:
- Indian Tyre Industry Analysis (http://www.rncos.com/Report/IM267.htm)
- India Commercial Vehicle Market Analysis (http://www.rncos.com/Report/IM259.htm)
- Two-wheeler Market in India (http://www.rncos.com/Report/IM364.htm)
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