India Tyre Markets 2013-2018 & 2019-2024 by Vehicle Type, OEM and Replacement, Domestic Production and Imports, Radial and Bias, Tube and Tubeless, Tire Size, Price Segments, & Region

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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.

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Globe Newswire: 16:21 GMT Tuesday 28th May 2019

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