Project Report For

Introduction

The project report for Tire sales & service is as follows.

India’s tire demand is projected to rise at rate more than 9% by 2023. Increasing vehicle fleets, rising new vehicle purchases and the growing construction industry are the main factors anticipated to boost demand for tires throughout India in the upcoming years.

Besides that, increasing urbanization and increase in income of the peoples are expected to even further drive growth in the country ‘s tire sector until 2023. With such an growing market of more than 50% in India’s tire market, the two-wheeler tire category is expected to be the biggest contributor to India’s total tire industry, accompanied by the Small Commercial Vehicles, Medium & Heavy Commercial Vehicles, three-wheeler s and OTR passenger vehicle market.

Numerous factors like easy accessibility, design, comfort, accessibility, fuel consumption, mechanisms (automatic transmission), etc. are the competition of two-wheeler throughout the nation, particularly among young people.

But at the other hand , some element such as accessibility of resources, a large customer base and a variety of growth potential draw a number of M&HCV players to build up their operations centers in the region.

Market potential & Strategy

India’s tire demand is projected to rise at a rate more than 9% by 2023. Increasing vehicle fleets, rising new vehicle purchases and the growing construction sector are the main factors anticipated to further drive demand for tires throughout India in the coming months.

In addition, increasing urbanization and increase in disposable income are expected to further fuel growth throughout the country’s tire market by 2023. With such an growing volume share of more than 50% in tire tire market, the tire category is expected to dominate India’s overall tire industry, accompanied by the small vehicles, Moderate & Strong Commercial Vehicles, three-wheeler and OTR passenger vehicle market.

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