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The expanding automobile industry, owing to the elevating levels of urbanization and inflating disposable incomes of the consumers, is primarily stimulating the tyre market. Moreover, the increasing demand for next-generation and high-performance tyres for usage in luxury and premium cars is further augmenting the market growth. Besides this, the emerging trend of radialization of tyres, particularly in buses and trucks, is acting as another significant growth-inducing factor.

Significant growth in the automobile industry has led to the rising adoption of sport utility vehicles (SUVs) and crossover utility vehicles (CUVs), thereby driving the demand for high-quality tyres. Furthermore, the implementation of stringent safety regulations is leading to the increasing popularity of automobile tyres with a high safety quotient. Read more: https://www.syndicatedanalytics.com/tire-manufacturing-plant-project-report

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