Tyre Market in India
In value terms, tyre production dropped to $ in estimated in export price. The total output value increased at an average annual rate of +% over the period from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when the production volume increased by %. Over the period under review, production reached the peak level at $ in , and then dropped slightly in the following year.
The size of the tyre market in India dropped to $ in , which is down by -% against 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, consumption, however, saw a relatively flat trend pattern. Tyre consumption peaked at $ in , and then dropped in the following year.
From 2007 to , the average annual rate of growth in terms of the volume of consumption of tyres for motor cars amounted to +%. With regard to the other consumed products, the following average annual rates of growth were recorded: tyres for motorcycles or bicycles (-% per year) and tyres for buses or lorries (+% per year).
In value terms, the most traded types of tyres in India were tyres for motor cars ($), tyres for buses or lorries ($) and tyres for agriculture, forestry, construction, industry and other off the road vehicles ($), with a combined % share of the total market. Tyres for motorcycles or bicycles and tyres for aircraft lagged somewhat behind, together comprising a further %.
Among the main consumed products, passenger car tyre, with a CAGR of +%, saw the highest rates of growth with regard to market size, over the period under review, while market for the other products experienced more modest paces of growth.