Noida/Uttar Pradesh, November 9, 2010:

According to our new research report “Indian Tyre Industry Analysis”, after economic reforms in 1991, strong market developments in the automobile industry provided essential growth impetus to its vertical industry segments such as tyre. The performance of commercial vehicle tyres is directly linked to the country’s economic development. Fast growing economy, dynamic developments in manufacturing sector along with rural developments will infuse production of commercial vehicles in the coming years. This will eventually uplift commercial passenger carrier tyre demand in the country. It is anticipated that the commercial vehicle tyre market will climb to Rs 22.8 Billion by FY 2014.

We have found that, in terms of radialisation, India still lags far behind than other major economies. However, the penetration of radial tyres is increasing fast in the country. Our study shows that the India tyre industry has become a center of development in the Asia-Pacific region. Booming automobile market and various other reasons are escalating tyre production in the country. During FY 2007 – FY 2010, the industry has registered one of the highest growth rates in the world.

Our research shows that apart from jeep and industrial segments, all other segments orchestrated phenomenal growth rates in FY 2010. Besides, it has been found that the Indian tyre industry is highly organized, with top 10 companies’ accounting for majority of the market share. Major brands dominate the tyre industry both in terms of production and sales. We have also found that a high level of dependence on rubber makes the tyre industry vulnerable.

Demand for tyre in India is expected to retain its upward trend in coming years as well. The commercial vehicle segment will continue to propel tyre demand. Due to several reasons identified and discussed in our report, radial tyres are fast gaining acceptance in the Indian tyre industry. We have also discussed new emerging trends of the Indian tyre industry. Some of the advantages of tubeless tyres have been also described in our report with its market potential till FY2014.

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