Market news Latest

India Tyre Market Report 2019, Industry Analysis, Market Share, Growth, Opportunities and Forecast till 2024

 Breaking News
  • No posts were found

India Tyre Market Report 2019, Industry Analysis, Market Share, Growth, Opportunities and Forecast till 2024

November 13
19:35 2019
India Tyre Market Report 2019, Industry Analysis, Market Share, Growth, Opportunities and Forecast till 2024

India represents the fourth largest market for tyres in the world after China, Europe and the United States – IMARC Group
According to the latest report by IMARC Group, the Indian tyre market reached a value of US$ 1.26 Billion in 2018. Looking forward, IMARC expects the market to reach a value of US$ 1.74 billion by 2024, growing at a CAGR of around 6% during the next five years.

Tyre refers to the rubber covering, placed around the rim of a metallic wheel, to provide a flexible cushion with the road for traction and smooth acceleration. The modern pneumatic tyres are generally made up of synthetic and natural rubber, fabric, wire, carbon black and other chemical compounds. They help in improving the vehicle’s performance, reducing wear and tear, minimizing rolling resistance, improving mileage, and enhancing safety. India represents one of the world’s largest markets for tyres owing to the presence of a vast consumer base for both personal and commercial vehicles in the country.

According to the latest report by IMARC Group, the Indian tyre market reached a value of US$ 1.26 Billion in 2018. Looking forward, IMARC expects the market to reach a value of US$ 1.74 billion by 2024, growing at a CAGR of around 6% during the next five years.

The thriving automobile industry in the country depicts a high demand for tyres in all types of vehicles, including buses, passenger cars, trucks, motorcycles, and military vehicles. Moreover, the growing radialization for providing additional mileage, fuel saving and improve the driving experience, particularly for heavy vehicles such as trucks and buses, has further augmented the product demand. Apart from this, rapid globalization, coupled with the rising disposable income levels, has boosted the automobile sales in the country, thereby positively influencing the growth of the India tyre market.

Browse full report with detailed TOC and list of figures and tables: https://www.imarcgroup.com/india-tyre-market

Indian Tyre Market Segmentation:

Market Breakup by Vehicle Type

1. Two Wheelers
2. Three Wheelers
3. Passenger Cars
4. Light Commercial Vehicles
5. Medium and Heavy Commercial Vehicles
6. Off the Road

Market Breakup by OEM and Replacement Segment

1. OEM Tyres
2. Replacement Tyres

Market Breakup by Domestic Production and Imports

1. Domestic Production
2. Imports

Market Breakup by Radial and Bias Tyres

1. Bias Tyres
2. Radial Tyres

Market Breakup by Tube and Tubeless Tyres

1. Tube Tyres
2. Tubeless Tyres

Market Breakup by Tire Size

1. Small
2. Medium
3. Large

Market Breakup by Price Segment

1. Low
2. Medium
3. High

Market Breakup by Region

1. North India
2. East India
3. West and Central India
4. South India

Get a PDF Sample for more detailed market insights: https://www.imarcgroup.com/india-tyre-market/requestsample

The report has also analysed the competitive landscape of the market with some of the key players being MRF Limited, CEAT Limited, JK Tyre & Industries Ltd., Apollo Tyres Ltd., etc.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Media Contact
Company Name: IMARC Group
Contact Person: Richard Lewis
Email: Send Email
Phone: 6317911145
Address:309 2nd St
City: Brooklyn
State: New York
Country: United States
Website: www.imarcgroup.com

Categories