- November 22, 2019
- December 16, 2019
DUBLIN–(BUSINESS WIRE)–May 7, 2019–The “India Tyre Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024” report has been added to ResearchAndMarkets.com’s offering.
India tyre market reached a consumption volume of 184 Million units in 2018.
This latest report provides a deep insight into the Indian tyre market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s Five Forces analysis, value chain analysis, etc.
India represents the fourth largest market for tyres in the world after China, Europe and the United States. In India, the market is currently being driven by increasing radialization of tyres especially in buses and trucks. Moreover, the tyre industry consists of a vast consumer base, they are used in all type of vehicles which include passenger cars, buses, military vehicles, motorcycles, trucks, etc.
The demand of tyres is primarily catalyzed from two end-user segments – OEMs and the replacement segment. The replacement market currently dominates the tire market accounting for most of the total sales. Demand by the OEM segment is driven by new automobile sales trend, whereas, the replacement market is linked to the usage patterns and replacement cycles.
The market for tyres is quite concentrated in India with the top 10 manufacturers accounting for around 80 per cent of the total market. MRF, Apollo Tyres and JK Tyres currently represent the top players in this market.
Press release content from Business Wire. The AP news staff was not involved in its creation.