India Tire Market to Transform into a Staggering $ 15 Billion Market by 2023
Expanding vehicle fleet, surging vehicle sales and rising
disposable income to boost India tire market through 2023
According to TechSci Research report, “India Tire Market By Vehicle Type, By
Demand Category, By Radial vs Bias, By Rim Size, By Price Segment, Competition
Forecast & Opportunities, 2013 – 2023”, India tire market is projected to cross $ 15
billion of market revenues by 2023. Continuously expanding vehicle fleet and
rising vehicles sales are two of the major demand generators of tires in the
country. In addition, expanding ventures by leading automobile OEMs coupled
with rising per capita income levels across the country are further anticipated
to compliment the country’s tire market over the next five years. MRF is the most recognized tire
brand across India as 80% of the respondents expressed knowledge of brand in
the consumer survey conducted by TechSci Research. MRF also grabbed the highest
satisfaction level among tire customers across the country.
Browse 3 market data Tables and 78 Figures spread through 125 Pages and an in-depth TOC on "India
Tire Market"
https://www.techsciresearch.com/report/india-tire-market/2834.html
With an increasing volume share of more than 50%, two-wheeler
tire segment dominated India tire market in 2017, followed by the passenger car
tire segment. The country’s tire market is largely concentrated in the south region
owing to the region’s large population size and increasing demand for
automobiles and construction equipment. Increasing presence of various domestic
tire companies such as MRF Limited, CEAT Limited, JK
Tyre & Industries Ltd., Apollo Tyres, etc., as well as major international brands including Bridgestone, Goodyear,
Michelin, Continental, etc. across the country is expected to further intensify
market competition in India tire market over the next five years.
Over the last decade, various leading domestic as well as international automobile
OEMs have been increasing their investments in the country’s automobile
industry. The same trend is anticipated to continue over the next five years as
well, consequently positively influencing the country’s tire market during 2018-2023.
“With booming construction industry and growing vehicle fleet, demand for tires
is expected to grow at a robust pace across India in medium to long term. Moreover,
consistently rising vehicle sales, increasing construction & infrastructure
developments and growing urbanization would continue to stimulate tire demand in
the country during the forecast period.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=2834
Customers can also request for 10% free
customization on this report.
“India Tire Market By Vehicle Type, By Demand
Category, By Radial vs Bias, By Rim Size, By Price Segment, Competition
Forecast & Opportunities, 2013 – 2023” has analyzed the potential
of tire market across India, and provides statistics and information on market
sizes, shares and trends. The report will suffice in providing the intending
clients with cutting-edge market intelligence and help them in taking sound
investment decisions. Besides, the report also identifies and analyzes emerging
trends along with essential drivers and key challenges faced by the India tire
market.
About TechSci Research
TechSci Research is a leading
global market research firm publishing premium market research reports. Serving
700 global clients with more than 600 premium market research studies, TechSci
Research is serving clients across 11 different industrial verticals. TechSci
Research specializes in research based consulting assignments in high growth
and emerging markets, leading technologies and niche applications. Our
workforce of more than 100 fulltime Analysts and Consultants employing
innovative research solutions and tracking global and country specific high
growth markets helps TechSci clients to lead rather than follow market trends.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]