(Newswire.net — September 1, 2021) —
According to IMARC Group’s latest report, titled “India Tyre Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the India tyre market reached a volume of 179 Million Units in 2020. A tyre is a pneumatically inflated and ring-shaped structure made from natural or synthetic rubber, carbon black, fabric, wire, etc. It encircles the rim of a wheel to provide a soft contact surface and helps in transferring the vehicle’s load onto the road. A tyre also acts as a cushion for the wheels of a moving vehicle and provides a gripping surface for traction. It enhances the vehicle’s overall performance by reducing road shocks, offering a safety grip, minimizing rolling resistance, etc. Consequently, tyres are commonly installed in two-wheelers, passenger cars, commercial vehicles, etc.
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The expanding automobile industry, driven by the elevating levels of urbanization and disposable incomes of consumers, is primarily stimulating the India tyre market. Moreover, the inflating demand for next-generation and high-performance tyres for luxury and premium cars is further augmenting the regional market. Besides this, the increasing radialization of tyres, particularly in buses and trucks, is acting as another growth-inducing factor. Additionally, owing to the rising levels of infrastructural development across the country, the escalating utilization of light and heavy commercial vehicles in construction and logistics is further propelling the product demand. Furthermore, the growing requirement for second-hand vehicles and tyre replacement is positively influencing the replacement tyre market, which is expected to catalyze the India tyre market in the coming years. Looking forward, IMARC Group expects the market to reach a volume of 211 Million Units by 2026.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- MRF Limited
- CEAT Limited
- JK Tyre & Industries Ltd.
- Apollo Tyres Ltd.
Market Segmentation:
Breakup by Vehicle Type:
- Two Wheelers
- Three Wheelers
- Passenger Cars
- Light Commercial Vehicles
- Medium and Heavy Commercial Vehicles
- Off the Road
Breakup by OEM and Replacement Segment:
- OEM Tyres
- Replacement Tyres
Breakup by Domestic Production and Imports:
- Domestic Production
- Imports
Breakup by Radial and Bias Tyres:
- Bias Tyres
- Radial Tyres
Breakup by Tube and Tubeless Tyres:
- Tube Tyres
- Tubeless Tyres
Breakup by Tire Size:
- Small
- Medium
- Large
Breakup by Price Segment:
- Low
- Medium
- High
Breakup by Region:
- North India
- East India
- West and Central India
- South India
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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