Tubeless Tire Market in India 2012-2016 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-03-12 08:03:04
The India Tubeless Tire market is to grow at a CAGR of 22.91 percent over the period 2012-2016. One of the key factors contributing to this market growth is the growing passenger vehicle market in India. The Tubeless Tire Market in India has also been witnessing the increasing radialization of tires in India. However, the increasing cost of raw material could pose a challenge to the growth of this market.
Radialization has been one of the major trends in the Tubeless Tire market in India. The effectiveness of radialization depends on various factors such as retreading facility, overload control, and road development. Radialization is being adopted at a relatively slow pace in India because of some issues such as the unsuitability of many Indian roads for radial tires, inappropriateness of the geometry of older vehicles for fitment, and the price-sensitive nature of consumers. However, despite these limitations, the tire manufacturers in India are improving their technical capabilities to produce radial tires.
The growth of passenger vehicle production is one of the major drivers for the Tubeless Tire market in India. The Passenger Vehicle market in India is the largest consumer of tubeless tires in India. Hence, the growth of passenger vehicle production directly influences the demand for tubeless tires in the country.
The key vendors dominating this market space are Apollo Tyres Ltd., Bridgestone Corp., J. K. Organization, and MRF Ltd. The other vendors mentioned in the report are The Goodyear Tire and Rubber Co., CEAT Ltd, and Birla Tyres Ltd.
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