World News: 16:21 GMT Tuesday 28th May 2019. [Research and Markets via Globe Newswire via SPi World News]
Dublin, May 28, 2019 (GLOBE NEWSWIRE) -- The report has been added to offering. India tyre market reached a consumption volume of 184 Million units in 2018India represents the fourth largest market for tyres in the world after China, Europe and the United States. In India, the market is currently being driven by increasing radialization of tyres especially in buses and trucks. Moreover, the tyre industry consists of a vast consumer base, they are used in all type of vehicles which include passenger cars, buses, military vehicles, motorcycles, trucks, etc. The demand of tyres is primarily catalyzed from two end-user segments - OEMs and the replacement segment. The Replacement market currently dominates the tire market accounting for most of the total sales. Demand by the OEM segment is driven by new automobile sales trend, whereas, the replacement market is linked to the usage patterns and replacement cycles. The market for tyres is quite concentrated in India with the top 10 manufacturers accounting for around 80 per cent of the total market. MRF, Apollo Tyres and JK Tyres currently represent the top players in this market.
Research and Markets also offers services providing focused, comprehensive and tailored research.
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Automotive Tires
Globe Newswire: 16:21 GMT Tuesday 28th May 2019
SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2019. [Admin Only]
Sector Publishing Intelligence Ltd.
Agriculture House, Acland Road, DORCHESTER, Dorset DT1 1EF United Kingdom
Registered in England and Wales number 07519380.