Mumbai, Jan 1 (UNI) The Indian tyre industry produced 736 lakh units of tyres (11 lakh tonnes), garnering Rs 190 billion, in the fiscal year 2007, according to a research carried out CARE.
Chennai-based MRF emerged as the market leader with 22 per cent market share followed closely by Apollo Tyres with 21 per cent market share. The other major players were JK Tyres and Industries and Ceat with 18 per cent and 13 per cent market share respectively, the research said.
The industry tonnage production registered a CAGR of 9.69 per cent between 2002 to 2007.
Exports from the country clocked a CAGR of 13 per cent in unit terms and 18 per cent in value terms during 2002-2007. Most of the tyres that are exported are of cross ply design.
The research also pointed out that with radialisation catching up in some of these markets, the manufacturers will need to graduate to radial tyres so as to protect their share in the export market.
Radialisation of tyres is still minimal in India.
The CARE Research expects the tyre industry to register a tonnage growth of 9-10 per cent in the next five years (2007-2012). The truck, bus and LCV tyre category are expected to register a CAGR of 8 per cent and 14 per cent respectively during 2007-2012.
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