TechNavio today launched its report Tire Market in India 2011“2015 based on an in-depth study focusing exclusively on India. The report aims to aid decision makers™ understanding of the present and the future landscape of the market.
Commenting on the report, an analyst from TechNavio™s Automotive team said; Radialization has been one of the significant trends in the development of the technological capability of the Tire market in India. However, due to some issues such as the unsuitability of many Indian roads for radial tires, older vehicles with inappropriate geometry for fitment, and price-sensitive consumers, radialization is being adopted at a slow pace. However, despite these limitations, the tire manufacturers in India are improving their technical capabilities to produce radial tires that are being widely accepted globally.
According to the report, the Tire market in India is witnessing growing demand for radial tires. The Truck and Bus segment, which is a major segment in terms of capacity, is experiencing a steady increase in the proportion of radial tires being adopted. In addition, as a result of the development of the road infrastructure and the increasing importance of fuel-efficient products in the Automobile industry, the proportion of radial tires in various segments of the Tire market in India is anticipated to increase six times from the current levels. This development is driving the growth of Tire market in India.
Further, the report also discusses that raw material prices will continue to be the major concern for the market in the near future.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key players.
TechNavio, the market research platform of Infiniti Research Ltd, publishes periodic reports on niche and emerging technologies. For further information, please visit https://www.technavio.com/content/tire-market-india-2011-2015
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TechNavio Announces the Publication of its Report “ Tire Market in India 2011“2015
