November 22, 2010
The Indian Tyre Industry Forecast 2014
Tyre industry production grew dramatically during FY’10 as compared to previous fiscals due to improving demand and expanding production capacity. The industry saw marginal growth of just 1% during FY’09 due to the impact of economic recession and decline of OEM production. The industry produced close to 97 Million tyres across various segments during FY’10 as compared to 82 Million tyres during FY’09. The replacement segment, which constitutes more than 60% of the industry and is a key focus area for tyre manufacturers, due to the higher margins it offers, is expected to continue its rapid growth, due, in part, to the high growth in vehicle sales over the last few years.
According to TechSci Research, the Indian tyre industry will continue its growth trajectory and is expected to witness a turnover growth of more than 10% CAGR during the period between FY’11 and FY’14. The increasing level of investments to increase production capacity should drive the Indian tyre industry in the coming years. The industry is expected to witness the increasing penetration of radial tyres in production and as well as in the end market. TechSci Research expects that the commercial vehicle segment will have an improved degree of radialization in coming years.
“The Indian Tyre Industry Forecast 2014” discusses the following issues related to Indian tyre industry:
• Tyre industry production by segment
• Industry sales by value & volume
• Production & Raw material Cost
• Ongoing market trends
• Competitive Landscape
“The Indian Tyre Industry Forecast 2014” gives a detailed and unbiased overview on the tyre market in India. This report helps readers to identify ongoing trends in the industry and expected growth in the coming years, as a consequence of changing industry dynamics in the coming years. The report will help industry consultants, tyre companies and other stakeholders to align their market-centric strategies according to ongoing and expected future trends.
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