The Rapid Rise of the Electric Vehicle Tire Market in India
Research Reports
Dec 23, 2022
India Electric Vehicle Tire Market Study, a recently released report by MarkNtel Advisors, is structured in a way that aids the readers in gaining a thorough understanding of the overall market landscape and its most lucrative areas. Additionally, the research report quantitatively presents precise data in a statistical way. It looks at recent market prospects as well as historical successes. The consumption, geography, market segmentation, and competitive environment are some of the main topics of the report. The research primarily divides the data by region to assess the top businesses, geographical areas, and relevant market sectors covered in the report.
The study seeks to offer a thorough, in-depth analysis so that readers can get something from it. The report, which was meticulously evaluated and assembled by experts in the industry, will make clear the crucial information that clients are required to supply. Along with looking at market prospects, it also analyses the market drivers and restraints and how they will affect demand over the course of the forecast period.
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Major Highlight of the Market Analysis Report-
-The market study offers detailed data on the market size, regional market share, historical market, and forecast (2022-2027)
-The study provides in-depth analysis of the competitor’s market share, important market developments, and key business strategies.
-The study lists the market current drivers, restraints, unmet needs, and trends.
-The research analyses current market breakthroughs, significant advancements, and start-up information.
-The report offers a wealth of details on market entry tactics, the regulatory environment, and reimbursement scenarios.
Examining the Key Drivers & Trends Analysis of the Report:
The study gives readers a thorough analysis of all the growth prospects, forces, difficulties, and barriers in both developing and emerging regions. It includes a look at the major forces behind the market growth. The report has covered recent trends and their effects, both positive and negative, on the market.
The study provides an analysis of the existing designs and other fundamental features. With respect to value share, price, and production, market size is estimated. It also covers an overview of the application based on consumption. Porter’s five forces analysis is used to predict how the industry will function in the future.
Market Segment Study –
The segmentation analysis section of the report focuses on the performance of the India Electric Vehicle Tire Market across various segments and geographies, which can help stakeholders plan their investments to increase their visibility, product portfolio, and clientele, resulting in significant revenue generation in the forecast years.
Market Divided into, By Vehicle Type
-Passenger Cars
-Commercial Cars
-Two-Wheelers
Market Divided into, By Product Type
-Radial Tires
-Bias Tires
Market Divided into, By Tire Size
-Up to 14”
-15”-18”
-Above 18”
Market Divided into, By Propulsion
-Battery Electric Vehicle (BEV)
-Hybrid Electric Vehicle (HEV)
Market Divided into, By Sales Channel
-Original Equipment Manufacturers (OEMs)
-Aftermarkets
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Some Latest Development in India Electric Vehicle Tire Manufacturing Industry –
– In Aug, 2022, Corrit Electric, a Gurugram-based electric vehicle start-up, has introduced two variants of electric bikes in India, namely Hover 2.0 and Hover 2.0+ having low-speed fat tires and claim to offer 110 km of range per charge. The best part is their transition time of just 3 seconds for 0-25 kmph.
– Same month in 2022, citing the specific requirement of Electric Vehicles, particularly for Two-wheelers and Passenger cars, Apollo Amperion launched EV tires. These variants project unparalleled rolling resistance, electric tread patterns, low noise, & aerodynamic sidewall, catering to the needs of compact SUVs, hatchbacks, and sedans in India. These tires are used by Tata Nexon, Hyundai Kona, & MG ZSE. With this, Apollo has become the first company to launch a 5-star rating tire.
Competitive Landscape Analysis:
To identify the major rivals in the market environment, a thorough and adequate competitive landscape analysis is necessary. The comparison is done based on factors including the overall revenue of mentioned companies, market potential, reach, production capabilities, market initiatives, corporate finances, production locations and facilities, company strengths and weaknesses, and investments made in R&D, among others. These major market participants include –
-Apollo Tyres
-Bridgestone
-Ceat Tire
-Continental AG
-Cooper Tire & Rubber Company
-Goodyear Tire & Rubber Co.
-Hankook Tire & Technology Co. Ltd.
-Michelin
-Nokian Tyres
-Pirelli & C. S.p.A.
-Yokohama Rubber Co. Ltd.
-Others
To preserve their position in the market, these businesses have used a variety of strategies, such as growth, partnerships, the development of new products, collaborations, and mergers and acquisitions. The study is also crucial for assessing each market participant business performance, product portfolio, operational segments, and developments. The feasibility of the return on investment (ROI) with the estimated SWOT analysis are also included in the report.
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