Updated Oct 2, 2022 05:59

Aircraft Tyre Market in India

Market Overview
The Indian aircraft tyre market totaled $ in , standing approx. at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a mild expansion from 2007 to : its value increased at an average annual rate of +% over the last fourteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption decreased by -% against 2019 indices. As a result, consumption reached the peak level of $. From to , the growth of the market remained at a lower figure.

In value terms, aircraft tyre production fell to $ in estimated in export price. Over the period under review, production, however, recorded a measured expansion. The pace of growth appeared the most rapid in 2019 with an increase of %. Over the period under review, production reached the peak level at $ in , and then reduced slightly in the following year.


Consumption
In , consumption of tyres for aircraft decreased by -% to units, falling for the second year in a row after four years of growth. In general, consumption showed a relatively flat trend pattern. Aircraft tyre consumption peaked at units in 2008; however, from 2009 to , consumption failed to regain momentum.

The value of the aircraft tyre market in India declined modestly to $ in , leveling off at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a modest increase from 2007 to : its value increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption decreased by -% against 2019 indices. As a result, consumption attained the peak level of $. From to , the growth of the market failed to regain momentum.


Market Forecast
Depressed by shrinking demand for aircraft tyre in India, the market is expected to continue its downward consumption trend over the next eight years. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to units by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
India remains a net importer of aircraft tyre; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.