The forecast for the import of new pneumatic tires of rubber for motor cars to India shows a steady upward trend from 2024 to 2028. Starting at $257.76 million in 2024, the value is expected to rise to $288.83 million by 2028. This represents a compound annual growth rate (CAGR) over the five years, suggesting a consistent increase in demand. The year-on-year growth rates indicate a progressive rise with a satisfactory market expansion, reflecting a robust automotive sector.
Future trends to watch for include:
- Changes in India's automotive production and sales may impact the import volume.
- Potential trade policies could affect import tariffs and costs.
- Technological advancements and alternative materials may disrupt traditional tire demand.
- Environmental regulations might lead to shifts in market preferences towards sustainable products.
