India Tire Market Insights, Growth, Development and Demand Forecast to 2030

India Tire Market size was valued at USD 194.57 Mn Units in 2023 and the India Tire Market revenue is expected to reach USD 239.30 Mn Units by 2030, at a CAGR of 3 % over the forecast period.

India Tire Market Report Overview

A tire is a piece of rubber that surrounds a wheel and offers support, traction, and shock absorption. Automotive tires are vital parts of cars that improve both their overall safety and performance. There are several sizes and varieties of tires, including all-season, winter, and summer tires, each intended for a particular set of driving circumstances.

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India's Tire Industry Trends

Growth in the Automotive Industry to Support the India Tire Market

The production and sales of passenger cars, two-wheelers, and commercial vehicles, as well as the growth of the automotive industry in India, are major factors driving the India Tire Market. The need for tires rises according to the number of cars produced and sold. Tire demand is rising as a result of ongoing and planned infrastructure development initiatives, such as the building and upgrading of roads. The requirement for tires increases across a range of vehicle categories as the road network grows and becomes of higher quality, stimulating transportation. In India, radial tires are becoming increasingly popular. When opposed to bias-ply tires, radial tires provide better performance, fuel economy, and durability.

India Tire Market Report Scope and Research Methodology

Market Research Report on India Tire Market capabilities an investigation approximately this marketplace and its numerous factors having an effect on the marketplace and ecosystem. This report educates stakeholders on the investment feasibility, market competition, and key players of the India Tire market. The report covers the sector from a qualitative and quantitative information perspective. The report covers a competitive analysis of the India Tire market. It provides a comprehensive list and includes an in-depth explanation for each requirement. Research uncovers a long list of primary and secondary sources used in India Tire Market analysis, such as governmental organizations, customer feedback, journals, and whitepapers.

India Tire Market Segmentation

by Vehicle Type

Passenger Car Tires
Two-Wheeler Tires
Commercial Vehicle Tires

by Tire Type

Radial Tires
Bias-Ply Tires
Tubeless Tires

The market is divided into three segments based on the kind of tire: tubeless, bias-ply, and radial tires. The India Tire Market share for Radial Tires is anticipated to be the greatest during the forecast period, having dominated the market in 2023. Steel belts run beneath the tread of radial tires, which are made of layers of fabric cords oriented at a 90-degree angle to the direction of travel. Compared to bias-ply tires, this radial structure offers increased tread life, stability, and traction. In India, radial tires are the standard option for the majority of passenger cars. They offer a harmonious combination of comfort, performance, and fuel economy. India Tire's radial tire market share has increased significantly.

by Sales Channel

OEM Sales
Aftermarket Sales

The market is divided into OEM sales and aftermarket sales based on the sales channel. Over the course of the forecast period, the OEM Sales category is anticipated to have the greatest share of the India Tire Market. As tire manufacturers form relationships with automakers to supply tires for new vehicles, OEM sales are critical to their business. The tires that come standard on automobiles are chosen and tailored to enhance their overall attributes and performance. India Tire producers may display their products on new cars thanks to OEM sales, which raises brand awareness and recognition. When consumers notice a tire brand installed on cars from well-known manufacturers, they start to recognize it.

by End-User

Individual Consumers
Commercial Fleet Owners
Agricultural Sector

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India Tire Market Regional Insights

Over 170 countries throughout the world, including upscale markets in North America and Europe, import tires made in India. As the largest market and the source of 19% of India's tire exports, the United States leads the pack. Germany, Brazil, the United Kingdom, and France are among the other top export destinations in FY22, according to data from the Ministry of Commerce, Government of India. The constant demand from these important partner countries is the reason for the tire market's continuous expansion in India.

India Tire Market Key Players

1. Balkrishna Industries
2. MRF Tyre
3. JK Tyre & Industries
4. CEAT Limited
5. Apollo Tyres
6. Goodyear India Limited
7. TVS-Srichakra Ltd
8. Birla Tyres Limited
9. Metro Tyres Limited
10. Kesoram Industries Limited
11. Bridgestone India Private Limited
12. Maxxis Rubber India Private Limited
13. Ralson (India) Limited
14. Modi Tyre Company Limited
15. Yokohama India Private Limited

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Key Questions answered in the India Tire Market Report are:

What was the India Tire market size in 2023?
What is the expected India Tire market size by 2030?
What are the India Tire market segments?
Which India Tire market segment is expected to grow rapidly during the forecast period?
Which are the prominent players in the India Tire Industry?
What key trends are expected to emerge in the India Tire market during the forecast period?
Which region dominated the India Tire market?
Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2022)
Past Pricing and price curve by region (2018 to 2022)
Market Size, Share, Size & Forecast by different segment | 2024-2030
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by segments with their sub-segments and Region
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
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