Expert Market Research’s new report titled ‘Indian Tires Market Report and Forecast 2022-2027’, gives an in-depth analysis of the Indian Tires Market, assessing the market based on its segments such as Vehicle Types , designs, types, distribution channels, tire sizes, price segments and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
Get Free Sample Report With TOC: https://www.expertmarketresearch.com/reports/india-tyre-market/requestsample
Key highlights of the report include:
Market Overview (2017-2027)
- Historical market size (2020): approximately 177 million units
- Forecast CAGR (2022-2027): 6%
The tire industry is aided by the booming automotive sector. Various favorable government programs such as Make in India and Aatmanirbhar Bharat are also boosting the market growth. The growing demand for cars and two-wheelers is further bolstering the growth of the industry. Furthermore, increasing infrastructure development and emergence of middle class owing to rapid urbanization is propelling the growth of the market. Additionally, increasing sales of automobiles for commercial and industrial activities are driving the growth of the market. With the increasing demand for replacement tires owing to the poor road conditions in the country, the market is witnessing a healthy growth.
Industry definition and major segments
A tire is a rubber covering usually inflated or surrounding an inflated inner tube. It is placed around the wheel to ensure smooth contact with the road. It also absorbs shock from the road surface and supports the weight of the vehicle.
Read Full Report with Table of Contents: https://www.expertmarketresearch.com/reports/india-tyre-market
The main vehicle types for tires are:
- Passenger car
- Light commercial vehicle
- Medium and heavy utility vehicle
- Two-wheelers and three-wheelers
- Off road
Based on Design, the market is segmented into:
Market can be broadly divided on the basis of its type into:
- Tube tires
- Tubeless tires
On the basis of distribution channel, the market is segmented into:
Based on tire size, the industry is categorized into:
Based on price segments, the industry is divided into:
The major regional tire markets in India are:
- North India
- West and Central India
- South India
- Eastern India
India’s tire industry is driven by increasing tire production due to low production costs and cheap labor. Rising exports and domestic sales are also expected to contribute to the growth of the market. Rapid urbanization and industrialization is increasing the demand for private vehicles and is expected to drive the market growth. Growth in the construction industry due to the increase in population is also expected to increase the demand for tires used in construction vehicles, further propelling the growth of the industry. Rising research and development (R&D) and development of high-efficiency eco-friendly tires are also expected to drive the market over the forecast period.
Main market players
Major market players include The Goodyear Tire & Rubber Company, Bridgestone Corporation, Apollo Tires Limited, CEAT Limited, JK Tire & Industries Ltd, and MRF Limited, among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients stay at the forefront of their industries by providing comprehensive and actionable market data through its market reports unionized and customized, covering more than 15 major industry fields. The company’s extensive and ever-growing reporting database, which is constantly updated, includes reports from verticals such as Chemicals & Materials, Food & Beverages, Energy & Mining, technology and media, consumer goods, pharmaceuticals, agriculture and packaging.
EMR leverages its industry-leading technology and analytical tools, along with the expertise of its highly skilled team of 100+ analysts and 3,000+ consultants, to help its clients, ranging from Fortune 1000 companies to small and midsize companies. companies. businesses, easily grasp vast industry data and help them formulate market and business strategies, which ensure they stay ahead of the curve.
Company name: EMR Inc.
Contact:- Ian Bell, Business Consultant
Email: [email protected]
Toll Free: USA +1-415-325-5166 | UK +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
Country: United States
Learn more about EMR Inc.’s Procurement Intelligence Services.
* At Expert Market Research, we always strive to give you the latest information. The figures in the article are only indicative and may differ from the actual report.