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SOURCE Bharat Book Bureau
MUMBAI, India, March 15, 2013 /PRNewswire/ --
Bharat Book Bureau presents 'India Tyre Market Forecast and Opportunities, 2017'
In 2011, global tyre market reached USD 150 Billion, which is expected to grow further till 2017. The Indian tyre market has shown robust growth in 2011 and is further expected to continue its thrust and grow at a CAGR of around 14% till 2017 due to increasing number of automobile sales in the country. With extremely low automobile market penetration and increasing disposable income in the country is driving the demand for tyres. The new entrants are showing their products differently in terms of value and sophisticated production technology. Till the end of 2011, MRF was leading the market with majority tie ups with automobile companies followed by Apollo, JK tyres and others. However, the market share trends are expected to encounter strong changes from the current trend by 2017 which would lead the market dynamics to new heights.
According to "India Tyre Market Forecast & Opportunities, 2017" India tyre market will witness phenomenal growth in near future. The outlook for the Tyre market in India seems very promising as the overall consumer spending and population is on rise. Better quality tyres are available at affordable price due to the number of players in the market where retreading has proved to be an added advantage where it has one of largest base across the globe. "India Tyre Market Forecast & Opportunities, 2017" discusses the following aspects related to tyre industry in India:
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The information contained in this report is based upon both primary and secondary sources. Primary research included interviews with Tyre Manufacturers, Automobile Manufacturers, Channel Partners, Media Executives, and Consumers. Secondary research included an exhaustive search of relevant publications like newspapers, websites, and proprietary databases
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