India Tyre Market Size, Share, Industry Analysis and Forecast 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.

Year Considered to Estimate the Market Size:
Base Year of the Analysis: 2021
Historical Period: 2016-2021
Forecast Period: 2022-2027

India Tyre Market Overview:

A tyre is a thick, ring-shaped, and pneumatically inflated structure widely used in the manufacturing of various types of vehicles that generally consist of a sidewall, bead filler, bundle, carcass, cap piles, edge cover, tread, body ply, inner liner mounted over a wheel rim to act as a cushion, etc. These components are usually formed together to provide smooth transactions between the wheel and the surface. In line with this, a tyre is produced by using synthetic or natural rubber, carbon black, wire, fabric, etc. It is specifically designed to support vehicle load, transmit traction, reduce vibrations, create torque, and brake forces to the road surface, absorb road shocks, maintain the direction of travel smoothly, etc.

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India Tyre Market Trends:

The expanding automotive sector and the escalating demand for enhanced comfort while driving among individuals are primarily stimulating the India tyre market. Apart from this, the inflating investments by several leading manufacturers in product innovations are also augmenting the market growth. Furthermore, the rising sales of personal automobiles among consumers, owing to their inflating disposable income levels, are acting as significant growth-inducing factors. Besides this, the growing technological advancements and the widespread adoption of advanced techniques in the manufacturing processes are also propelling the market growth across the country. Moreover, the increasing need for heavy-duty vehicles among numerous industries, including construction, defense, agriculture, etc., the elevating infrastructural development projects to connect rural and urban locations, and extensive R&D activities are expected to fuel the India tyre market over the forecasted period.

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India Tyre Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape with Key Players:

• MRF Limited
• CEAT Limited
• JK Tyre & Industries Ltd.
• Apollo Tyres Ltd.

Key Market Segmentation:

The report has segmented the India tyre market on the basis of vehicle type, OEM and replacement segment, domestic production and imports, radial and bias tyres, tube and tubeless tyres, tyre size, price segment and region.

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

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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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IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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This release was published on openPR.