India Passenger Car Tyre Market Report and Forecast 2024-2032

India Passenger Car Tyre Market Outlook

The India passenger car tyre market size is estimated to grow at a CAGR of 7.10% in the forecast period of 2024-2032. The market is likely to be aided by growing car ownership among the burgeoning population in the country.

Key Trends in the Market

A tyre is a circular or ring-shaped part of a vehicle that provides the friction between the vehicle and the surface. It boasts an inflatable shape and transfers the vehicle load through the wheel to the ground. Tyres are essential in all types of locomotives, ranging from aircraft to bicycles.

• The increased production of vehicles due to the growing demand for personal mobility solutions in metropolitan areas is a key India passenger car tyre market trend. Tyres are crucial components of a vehicle, improving its overall performance and ensuring a safe and comfortable ride.

• The development of green tyres that reduce fuel consumption by minimising friction between the ground and the vehicle is aiding the market. Increasing attempts to decarbonise the automotive and transportation sectors are likely to further bolster the India passenger car tyre market demand in upcoming years.

• The increasing affordability of personal mobility solutions and the growing ownership of cars among middle-class families are driving the demand for car tyres. Moreover, favourable government initiatives aimed at boosting the manufacturing of tyres are anticipated to support the India passenger car tyre market growth in the forecast period.

Market Analysis

Based on product, the market is divided into tube and tubeless. On the basis of construction type, the market is classified into bias and radical. By type, the India passenger car tyre market segmentation includes new tyres and retreated tyres. On the basis of rim size, the market is segmented into 13–15-inch, 16-18 inch, and 19-21 inch. Based on price range, the market is divided into low, medium, and high.

On the basis of vehicle type, the market is classified into hatchback, sedan, SUV, MUV, and luxury cars, among others. Based on end use, the market is categorised into OEMs and aftermarket. The major regional markets for passenger car tyre are North India, South India, East India, and West India.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the India passenger car tyre market covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• CEAT Limited 

• JK Tyre & Industries Ltd 

• Bridgestone India Private India 

• Continental India Limited 

• Birla Tyres Limited 

• Goodyear India Limited 

• TVS Srichakra Limited 

• Apollo Tyres Ltd 

• Balkrishna Industries Limited 

• Michelin India Private Limited. 

• Others

Market Share by Product

According to the India passenger car tyre market analysis, the demand for tubeless tyres is significantly increasing as they are lightweight, offer high mileage, and enhance the fuel-efficiency. Furthermore, they provide enhanced safety in case of a puncture as the air seeps out slowly through such tyres, reducing the risk of accidents. Tubeless tyres also facilitate the manoeuvring of cars at high speed and their low pressure and minimal rolling resistance enhance the safety and comfortability of riders.

Market Share by End Use

The OEM sector accounts for a significant portion of the India passenger car tyre market share as they are specifically designed by the manufacturer of a car and boast excellent performance. Moreover, OEM tyres come with extended warranty periods and help end-users to achieve consistent driving experience.

Meanwhile, the demand for aftermarket tyres is anticipated to grow in coming years due to their affordability and easy availability. The increasing launch of aftermarket passenger car tyres with enhanced durability, safety, and performance is likely to favour the overall India passenger car tyre market in the coming years.

Competitive Landscape

CEAT Limited, established in 1924, is a multinational car manufacturer with headquarters in Maharashtra, India. It is owned by the RPG group and provides high-end products and services over 110 countries.

Bridgestone India Private Limted, founded in 1996, is an automotive company with its headquarters in Maharashtra, India. It is a subsidiary of the company Bridgestone corporation in Japan and is a well-known supplier of the OEM tyres in India.

Birla Tyres Limited, founded in 1991 and based in West Bengal, India, is a pioneer in the production and development of tyres. It is one of the leading suppliers of tyres for heavy duty vehicles, farm vehicles, and commercial vehicles in India.

Other India passenger car tyre market players include JK Tyre & Industries Ltd, Continental India Limited, Goodyear India Limited, TVS Srichakra Limited, Apollo Tyres Ltd, Balkrishna Industries Limited, and Michelin India Private Limited, among others.

Key Highlights of the Report