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India is the third-biggest automobile market in the world, the biggest producer of tractors, three-wheelers, and passenger cars, and the second-biggest producer of two-wheelers. In 2023, India produced 5.8 million automobiles in total, which also increased the market share of tyres in India. As the average age of vehicles on Indian roads increases, there is a growing demand for replacement tyres. This has been driven by the increasing awareness of the importance of tyre maintenance and safety.
Furthermore, India's EV finance sector is expected to grow to USD 50 billion by 2030, as per NITI Aayog and the Rocky Mountain Institute (RMI). According to industry reports, the EV market in India would increase at a CAGR of 36% until 2026. Along with companies exploring the rural markets, greater demand for logistics and passenger transportation has collectively boosted the India tyre market opportunities.
India Tyre Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 India Automotive Market Overview
9 Global Tyre Market Overview
9.1 Key Industry Highlights
9.2 Global Tyre Historical Market (2018-2023)
9.3 Global Tyre Market Forecast (2024-2032)
9.4 Global Tyre Market Share by Region
9.4.1 North America
9.4.2 Europe
9.4.3 Asia Pacific
9.4.4 Latin America
9.4.5 Middle East and Africa
10 India Tyre Market Overview
10.1 Key Industry Highlights by Value
10.2 India Tyre Historical Market (2018-2023)
10.3 India Tyre Market Forecast (2024-2032)
11 India Tyre Market by Vehicle Type
11.1 Passenger Car
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Light Commercial Vehicle
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Medium and Heavy Commercial Vehicle
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Two Wheelers and Three Wheelers
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Off Road
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 India Tyre Market by Design
12.1 Radial
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Bias
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 India Tyre Market by Type
13.1 Tube
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Tubeless
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
14 India Tyre Market by Tyre Size
14.1 Small
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 Medium
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
14.3 Large
14.3.1 Historical Trend (2018-2023)
14.3.2 Forecast Trend (2024-2032)
15 India Tyre Market by Price Segment
15.1 Low
15.1.1 Historical Trend (2018-2023)
15.1.2 Forecast Trend (2024-2032)
15.2 Medium
15.2.1 Historical Trend (2018-2023)
15.2.2 Forecast Trend (2024-2032)
15.3 High
15.3.1 Historical Trend (2018-2023)
15.3.2 Forecast Trend (2024-2032)
16 India Tyre Market by Distribution Channel
16.1 OEMs
16.1.1 Historical Trend (2018-2023)
16.1.2 Forecast Trend (2024-2032)
16.2 Replacement
16.2.1 Historical Trend (2018-2023)
16.2.2 Forecast Trend (2024-2032)
17 India Tyre Market by Region
17.1 North Region
17.1.1 Historical Trend (2018-2023)
17.1.2 Forecast Trend (2024-2032)
17.2 East Region
17.2.1 Historical Trend (2018-2023)
17.2.2 Forecast Trend (2024-2032)
17.3 West Region
17.3.1 Historical Trend (2018-2023)
17.3.2 Forecast Trend (2024-2032)
17.4 South Region
17.4.1 Historical Trend (2018-2023)
17.4.2 Forecast Trend (2024-2032)
18 Market Dynamics
18.1 SWOT Analysis
18.1.1 Strengths
18.1.2 Weaknesses
18.1.3 Opportunities
18.1.4 Threats
18.2 Porter’s Five Forces Analysis
18.2.1 Supplier’s Power
18.2.2 Buyer’s Power
18.2.3 Threat of New Entrants
18.2.4 Degree of Rivalry
18.2.5 Threat of Substitutes
18.3 Key Indicators for Demand
18.4 Key Indicators for Price
19 Value Chain Analysis
20 Trade Data Analysis (HS Code - 4011)
20.1 Major Importing Countries
20.1.1 By Volume
20.1.2 By Value
20.2 Major Exporting Countries
20.2.1 By Volume
21.2.2 By Value
21 Competitive Landscape
21.1 Market Structure
21.2 Market Share by Key Players
21.3 Company Profiles
21.3.1 MRF Limited
21.3.1.1 Company Overview
21.3.1.2 Product Portfolio
21.3.1.3 Demographic Reach and Achievements
21.3.1.4 Certifications
21.3.2 Apollo Tyres Limited
21.3.2.1 Company Overview
21.3.2.2 Product Portfolio
21.3.2.3 Demographic Reach and Achievements
21.3.2.4 Certifications
21.3.3 CEAT Limited
21.3.3.1 Company Overview
21.3.3.2 Product Portfolio
21.3.3.3 Demographic Reach and Achievements
21.3.3.4 Certifications
21.3.4 Balkrishna Industries Limited
21.3.4.1 Company Overview
21.3.4.2 Product Portfolio
21.3.4.3 Demographic Reach and Achievements
21.3.4.4 Certifications
21.3.5 TVS Srichakra Limited
21.3.5.1 Company Overview
21.3.5.2 Product Portfolio
21.3.5.3 Demographic Reach and Achievements
21.3.5.4 Certifications
21.3.6 The Goodyear Tire & Rubber Company
21.3.6.1 Company Overview
21.3.6.2 Product Portfolio
21.3.6.3 Demographic Reach and Achievements
21.3.6.4 Certifications
21.3.7 Bridgestone Corporation
21.3.7.1 Company Overview
21.3.7.2 Product Portfolio
21.3.7.3 Demographic Reach and Achievements
21.3.7.4 Certifications
21.3.8 Continental Tyre Group Ltd
21.3.8.1 Company Overview
21.3.8.2 Product Portfolio
21.3.8.3 Demographic Reach and Achievements
21.3.8.4 Certifications
21.3.9 Metro Tyres Limited
21.3.9.1 Company Overview
21.3.9.2 Product Portfolio
21.3.9.3 Demographic Reach and Achievements
21.3.9.4 Certifications
21.3.10 JK Tyre & Industries Ltd.
21.3.10.1 Company Overview
21.3.10.2 Product Portfolio
21.3.10.3 Demographic Reach and Achievements
21.3.10.4 Certifications
22 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Tyre Market: Key Industry Highlights, 2018 and 2032
2. India Tyre Market: Key Industry Highlights, 2018 and 2032
3. India Tyre Historical Market: Breakup by Vehicle Type (Million Units), 2018-2023
4. India Tyre Market Forecast: Breakup by Vehicle Type (Million Units), 2024-2032
5. India Tyre Historical Market: Breakup by Design (Million Units), 2018-2023
6. India Tyre Market Forecast: Breakup by Design (Million Units), 2024-2032
7. India Tyre Historical Market: Breakup by Type (Million Units), 2018-2023
8. India Tyre Market Forecast: Breakup by Type (Million Units), 2024-2032
9. India Tyre Historical Market: Breakup by Distribution Channel (Million Units), 2018-2023
10. India Tyre Market Forecast: Breakup by Distribution Channel (Million Units), 2024-2032
11. India Tyre Historical Market: Breakup by Tyre Size (Million Units), 2018-2023
12. India Tyre Market Forecast: Breakup by Tyre Size (Million Units), 2024-2032
13. India Tyre Historical Market: Breakup by Price Segment (Million Units), 2018-2023
14. India Tyre Market Forecast: Breakup by Price Segment (Million Units), 2024-2032
15. India Tyre Historical Market: Breakup by Region (Million Units), 2018-2023
16. India Tyre Market Forecast: Breakup by Region (Million Units), 2024-2032
17. Major Importing Countries by Volume
18. Major Exporting Countries by Volume
19. Major Importing Countries by Value
20. Major Exporting Countries by Value
21. India Tyre Market Structure
In 2023, the market volume was approximately 190.54 million units.
The market is projected to grow at a CAGR of 6.6% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach around 339.37 million units by 2032.
The major factors include the expanding automotive production and favourable government initiatives aiding automotive production expansion.
The key trends aiding the market include growing demand for electric vehicles and increasing adoption of technologically advanced tyres.
The different vehicle types include passenger car, light commercial vehicle, medium and heavy commercial vehicle, two wheelers and three wheelers, and off road, among others.
The major distribution channels in the market include OEMs and Replacement.
MRF Limited, Apollo Tyres, JK Tyre & Industries, CEAT Limited, Birla Tyres, Balkrishna Industries, TVS Srichakra, and Goodyear India are some major market leaders.
The decline in automotive sales impacted the distribution of tyres amid COVID-19.
Rising vehicle production and sales boost tyre demand in the country.
North India holds the largest share of the market.
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