India Tyre Market Trends, Industry Size, Competitive Analysis, Growth and Opportunity 2022-2027

According to the latest report by IMARC Group, titled "India Tyre Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the India tyre market reached a volume of 182 Million Units in 2021. Looking forward, IMARC Group expects the market to reach 221.8 Million Units by 2027, exhibiting a CAGR of 3.59% during 2022-2027.

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A tyre is widely used in the manufacturing of several types of vehicles that generally consist of a sidewall, bead filler and bundle, carcass, cap piles, edge cover, tread, body ply and inner liner that is mounted over a wheel rim to act as a cushion. These components are usually formed together that help in providing smooth transactions between the wheel and the surface. It is mainly designed to support vehicle load, transmit traction, reduce vibrations, create torque and braking forces to the road surface, absorb road shocks and maintain and change the direction of travel smoothly.   

India Tyre Market Trends:

The market in India is primarily driven by significant growth in the automotive sector. Moreover, the increasing demand for enhanced comfort while driving among individuals is providing a boost to the demand for tyres. This has encouraged leading players to heavily spending in product innovations, which is creating a positive market outlook. Due to the growing population level and the inflating disposable income levels of the masses, there has been a considerable rise in the sales of personal automobiles among the masses, which is impacting the market favorably. Additionally, continual technological advancements and the deployment of advanced techniques in the manufacturing processes are considered to be other major growth-inducing factors. Other factors, including the escalating demand for heavy-duty vehicles across the construction, defense and agriculture industries, the rising infrastructural development projects in order to connect rural and urban locations, and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market across India.

Key Market Segmentation:

Breakup by Vehicle Type:

Two Wheelers
Three Wheelers
Passenger Cars
Light Commercial Vehicles
Medium and Heavy Commercial Vehicles
Off the Road

Breakup by OEM and Replacement Segment:

OEM Tyres
Replacement Tyres

Breakup by Domestic Production and Imports:

Domestic Production
Imports

Breakup by Radial and Bias Tyres:

Bias Tyres
Radial Tyres

Breakup by Tube and Tubeless Tyres:

Tube Tyres
Tubeless Tyres

Breakup by Tyre Size:

Small
Medium
Large

Breakup by Price Segment:

Low
Medium
High

Breakup by Region:

North India
East India
West and Central India
South India

Competitive Landscape With Key Players:

The report has also analysed the competitive landscape of the market with some of the India tyre companies being MRF Limited, CEAT Limited, JK Tyre & Industries Ltd., Apollo Tyres Ltd., etc.

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Key Highlights of the Report:

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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This release was published on openPR.