With radialization levels reaching 98% for the passenger cars in the country, the demand for radial tyres is consistently increasing in both OEM and replacement segments. As a result, the domestic manufacturers are facing problem to meet this ever growing demand and encouraging import of radial tyres in the country. Besides that, the landed cost of imported radial tyres in India is lower than domestic radial tyres. Thus, the domestic manufacturers are exploring the markets in China, Korea, Thailand, and Malaysia to meet the demand. In FY 2011, the radial imports grew by 43.4% and expected to grow further in the coming years. Considering the above factors, the radial tyre market is projected to grow at a CAGR of 21% during FY 2011-2015.
According to our research report, “Indian Radial Tyre Market Outlook to 2015” India has emerged as one of the world's most competitive radial tyre markets. The demand for high quality radial tyres in the Indian market is set to grow at a robust phase in the coming years as automotive OEMs (like Hyundai, Nissan, Suzuki) are increasingly looking at India as a manufacturing hub. Further, the international manufacturers like Michelin, Bridgestone, etc are also coming up with their new projects in the country to further boost the demand for International tyres in Indian market.
Our report “Indian Radial Tyre Market Outlook to 2015”, also provides an in-depth research and rational analysis of the market for radial tyres in India. The comprehensive study also integrates important 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 coupled with the trade analysis of the segment. Further, for a complete understanding of the market, it also analyzes drivers, key trends, and raw material prices. An in-depth knowledge of key players of the country is also incorporated to provide a comprehensive view of current market scenario to our clients.
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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