Introduction-
The Indian tyre industry has come a long way since its beginnings. From a mere Rs. 1,200 crore industry in early 1990s, it has now become a Rs. 48000 crore industry. The automotive industry in India is one of the largest in the world with an annual production of 23.96 million vehicles in year 2015-16. India is expected to become the third largest automobile market in the world by 2020. The Indian tyre industry is an important part of the automotive sector so the future of tyre industry is very bright.
Reason of growing Indian tyre industry-
There are a number of reasons for the growth of Indian tyre industry.
Famous Tyre Companies of India
There are many famous tyre companies in India such as MRF, J.K. Tyres, Apollo Tyres and CEAT. These companies have been in business since a long time and have a strong presence in the market. They are the leaders in the tyre industry. The tyre industry in India is currently dominated by a few large companies. However there are a number of small and medium sized companies that are also making their presence in the industry. These companies have a strong presence in the domestic as well as the international market. The growth of automotive industry of India is the main reason of rise in demand of tyres. The top tyre companies in India include MRF, Apollo Tyres, JK Tyres and Bridgestone so these companies also have a strong future.
Market Leader on Tyre Industry-
The Indian Tyre market is dominated by a few large players, such as JK Tyres, Apollo Tyres, Michelin and Bridgestone.
These companies have a strong brand presence in the country and they are the market leaders of tyre industry. The Indian tyre industry is highly competitive, with a large number of small and medium sized companies. The future of tyre industry in India looks bright with the growing demand for tyre in the country. The tyre industry in India is expected to grow at a rapid pace in the coming years and these companies are expected to play a major role in the growth of Indian tyre industry.
World’s Second largest Market for Tyres-
India is the world’s second largest market for tyres with a production of around Rs 200 billion. The country is also the fifth largest producer of tyres. There is a huge potential for growth the tyre industry in India due to the increasing demand for vehicles. The growth of the automotive industry and the increased demand for vehicles are the major drivers of bright future of tyre industry of India.
India is rapidly growing in the field of tyre industry and every region of India has big tyre distributer especially in Delhi NCR region. This is a good thing for the consumer as they have a lot of choice and can buy the tyres that they need at a good price. However it is important to remember that not all tyre dealers are created equal. Some tyre dealers may not be as reliable as others and not sell tyres that are the same quality. It is important to do right search and choose trustable tyre dealer. If you are looking for a tyre dealer in Noida, we recommended that you check out Tyre World. Tyre World is reliable and trustworthy that sells high-quality tyres at a reasonable price. You can also get best tyre dealers in other states of India, such as if you are looking for a tyre dealer in Gurgaon, you can check out Tyre World.
Bright Future of Tyre Industry-
The Tyre industry in India is expected to grow significantly in the coming years. This is due to a number of factors, such as increasing demand of vehicles in the country and the growing middle class and the government’s focus on infrastructure development. The growth of tyre industry is expected to create new jobs and provide a boost to the economy. The rising construction industry due to the overpopulation and urbanisation is increasing the demand of construction vehicles which is further propelling the market growth. The launch of advance and eco-frendly tyres also aids the market growth for tyres. This industry is also being supported by the government’s initiatives to boost the automotive sector. The growth of the tyre industry is a boon for the economy as it creates employment opportunities and generates revenue. The industry is also the major contributor to the country’s export earnings. The future of tyre industry of India looks bright and it is expected to continue to grow at a healthy pace in the coming years.
Conclusion-
The growing number of regional tyre manufacturing facilities based on the high prevalence of the ‘Make in India’ trend, is currently driving in India tyre market.