DUBLIN, June 16, 2016 /PRNewswire/ --

Research and Markets has announced the addition of the "India Tire Market Forecast & Opportunities, 2021" report to their offering.

India's tire market is forecast to witness a CAGR of over 9% during 2016-2021

With more than 60 tire manufacturing plants spread across the country in 2015, India ranks among one of the largest tire markets in the world. Growing automobile sales coupled with expanding automobile fleet are the major factors boosting demand for tires in the country.

Though the replacement tire demand had a majority share in 2015, the OEM tire demand is expected to outpace replacement tire demand during 2016-2021.

In 2015, Northern region accounted for the largest share in India's tire market, followed by Southern, Eastern and Western regions of the country. Over the next five years as well, Northern and Southern regions are forecast to continue their market dominance and grab a cumulative market share of nearly 59% in 2021. Two-wheeler tire segment, which accounted for a volume share of over 50% in the country's tire market in 2015, is also expected to maintain its position as the largest tire segment over the next five years. India Tire

Moreover, with favorable inflationary scenario, expanding middle class population and increasing national disposable income, tire sales across all the automobile segments are expected to grow in the coming years.

Presence of major automotive OEMs such as Ford, Hyundai, Honda, Mahindra, Maruti Suzuki, TATA, BMW, etc. has been hugely contributing to the sales of tires in India.

MRF, CEAT, Birla Tyres, TVS Srichakra, Apollo Tyres and JK Tyre are few of the major regional tire manufacturers, while the major international tire brands operating in the country includes Goodyear, Bridgestone, Michelin, Continental, Yokohama, and Hankook.

Key Topics Covered:

1. Product Overview

2. Research Methodology

3. Analyst View

4. India Tire Production Overview

5. India Tire Market Outlook

6. India Medium & Heavy Commercial Vehicle (M&HCV) Tire Market Outlook

7. India Passenger Car Tire Market Outlook

8. India Two-Wheeler (2W) Tire Market Outlook

9. India Off-The Road (OTR) Tire Market Outlook

10. India Light Commercial Vehicle (LCV) Tire Market Outlook

11. India Three-Wheeler (3W) Tire Market Outlook

12. Import-Export Analysis

13. Market Dynamics

14. Market Trends & Developments

15. Policy & Regulatory Landscape

16. India Economic Profile

17. Competitive Landscape

18. Strategic Recommendations

19. Annexure (Include Dealer/Distributor List for each Tire Company)

Companies Mentioned

- Apollo Tyres Ltd.
- Balkrishna Industries Limited
- Birla Tyres Limited
- Bridgestone India Private Limited
- CEAT Limited
- Continental India Limited
- Goodyear India Limited
- Govind Rubber Limited
- JK Tyre & Industries Ltd.
- MRF Limited
- Michelin India Private Limited
- TVS Srichakra Limited

For more information visit http://www.researchandmarkets.com/research/dmrkwq/india_tire_market

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SOURCE Research and Markets