The forecasted import of new pneumatic tyres of rubber for motor cars to India shows a steadily increasing trend from 52.067 million kilograms in 2024 to 58.663 million kilograms by 2028. Compared to an actual value in 2023, this indicates consistent growth. The year-on-year growth percentages show a consistent increase around 3% annually, with a compound annual growth rate (CAGR) over the period being approximately 3.0%. This suggests sustained demand for imported tyres in the Indian market.
Future trends to watch include:
- The impact of domestic policies promoting local manufacturing, which could influence import levels.
- Technological advancements in tyre production materials, potentially affecting import value.
- Shifts in consumer preferences and the automotive market could redefine import dynamics.