The import of new pneumatic tyres of rubber for buses or lorries to India is projected to experience a gradual decline from 2024 to 2028. The figures indicate a steady decrease in value from 1.0076 million in 2024 to 0.97766 million in 2028. This marks a near-constant year-on-year decrease of around 0.75% to 1%, illustrating a slight contraction in this specific market segment. The compound annual growth rate (CAGR) over the forecast period signifies a downtrend, contrasting with positioning in 2023 when the value was higher.
Looking ahead, key trends to observe include potential impacts from economic policy changes in India, fluctuations in domestic production capacities, global rubber price volatility, and advancements in tyre technologies. Monitoring these factors can yield insights into market dynamics beyond traditional volume and value indicators.
