CV Tyres Continue To Evolve

As the nature of CVs in India changes, CV tyres continue to evolve, and with it the tyre industry.

- Anwesh Koley

Disruptions like axle norms have been instrumental in transforming the nature of CVs in India. They along with the introduction of long standing economic reforms like GST (and e-way bill) are changing the way CV tyres are looked at. Influencing a significant change in CV tyres as challenges like urbanisation, weak market demand and rising TCO come the way of the CV industry, the Truck & Bus (T&B) tyre segments in India are continuing to evolve as an important ancillary. Estimated to generate 55 per cent of the total revenue the Indian tyre industry generates (it is estimated to be worth Rs.53,500 and is expected to reach a topline of Rs.60,000 crore in 2020), the T&B tyre segments are transforming at the OEM and replacement level. Gaining in technology and an ability to respond quickly to market changes, the T&B tyre segments, claimed to contribute around 50 per cent of the total volume in terms of tonnage, are finding themselves in the midst of some far-reaching changes to the Indian automotive sector in the form of BSVI emission norms. Increasing its focus on export markets to insulate against the cyclic nature of the domestic market, the T&B tyre segments are changing in line with the changing concepts of mobility.