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India Tire Industry Outlook to 2017 - Growth to be Driven by Commercial Vehicle Radials

  • April 2013
  • -
  • Ken Research Private Limited
  • -
  • 69 pages

Summary

Table of Contents

EXECUTIVE SUMMARY

The report titled “India Tire Industry Outlook to 2017 – Growth to be Driven by Commercial Vehicle Radials” provides a comprehensive analysis of the various aspects such as the market size of the India tire industry and tire segments in the India tire market. The report also covers the market shares of major players in India.

The tire market in India, which is significantly driven by the sales of motorcycles, registered revenues of USD ~ million in FY’2012. With the advent of tires incorporating new technology and owing to a healthy demand of tires domestically, the revenues increased by 10.7% compared to FY’2011 where the total revenues were USD ~ million. Tire sales in India have largely been influenced by the automobile production, prices of natural rubber and crude oil and disposable incomes, with the aforementioned factors playing an important role in determining revenue growth in the country. On the basis of radialisation, passenger cars have been the dominant category while the radialisation in the commercial vehicle segment is still in the growing stages. The India tire industry has grown at a CAGR of 24.1% from USD 2,487.1 million in FY’2006 to USD ~ million in FY’2012.

The tire market in India is comprised of 10 major tire manufacturers that specialize in designing and producing tires for a range of vehicles. Premier tire companies account for more than 80% of the revenues of tire sales in India. MRF was the largest tire manufacturer in India on the basis of revenues, followed by Apollo and JK Tire. Major tire enterprises in India have been focusing increasingly on vertical expansions to curtail the impact of volatile prices of critical raw materials, particularly natural rubber. Companies have been increasingly acquiring rubber estates outside their operating countries and have also been developing alternate sources of raw materials.

The market for tires in India is changing at an increasing rate. Technological advancements and demand of tires across an extensive range of vehicles have been notably transforming the market. Revenues from the tire industry in India are expected to expand to USD ~ million in FY’2017, growing with a CAGR of ~% from FY’2012 to FY’2017.
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KEY TOPICS COVERED IN THE REPORT

- The market size of the India tire industry.
- Market segmentation of the India tire industry on the basis of types of vehicles, replacement, OEM and exports for different vehicles and level of radialisation.
- Trends and Development in the India tire industry.
- Competitive landscape and detailed company profiles of the major manufacturers of tires in India.
- Future outlook and projections of the India tire industry.

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