India Tire Market Poised for Growth, Projected to Hit USD 239.30 Million Units by 2030

𝐈𝐧𝐝𝐢𝐚 𝐓𝐢𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡 𝐨𝐫 𝐃𝐞𝐦𝐚𝐧𝐝 𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐞 𝐨𝐫 𝐃𝐞𝐜𝐫𝐞𝐚𝐬𝐞 𝐟𝐨𝐫 𝐰𝐡𝐚𝐭 𝐜𝐨𝐧𝐭𝐚𝐢𝐧𝐬

𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰 𝐚𝐧𝐝 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬

Tires, essential for vehicle performance and safety, come in various types tailored to different driving conditions. In India, the demand for radial tires is on the rise due to their superior performance and fuel efficiency, significantly boosting the overall market.

1. Automotive Industry Growth: The booming automotive sector, encompassing passenger cars, two-wheelers, and commercial vehicles, is a major driver of the tire market. Increased vehicle production and sales naturally lead to higher tire demand. Infrastructure development, particularly road construction and improvements, further stimulates tire demand.

2. Government Support: The Indian government actively supports the domestic tire industry through tariffs on imports and financial incentives for local manufacturers, fostering a robust growth environment. Initiatives like these have strengthened the market dynamics, particularly favoring local production.

3. Replacement Tire Market: The replacement tire market holds a significant share due to the aging vehicle population in India. As vehicles on the road age, the need for replacement tires increases, driving market growth.

However, the market faces challenges such as a production-demand gap in natural rubber, which is a crucial raw material. India imports a substantial amount of rubber, leading to potential disruptions in tire manufacturing. High production costs, an inverted duty structure, and competitive pressures from international trade agreements also pose significant hurdles.

𝐈𝐧𝐝𝐢𝐚 𝐓𝐢𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡 𝐑𝐚𝐭𝐞 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭:

The Indian tire market, a critical component of the nation's automotive sector, is on track for significant expansion. In 2023, the market size was valued at 194.57 million units, with projections suggesting it will reach 239.30 million units by 2030, growing at a CAGR of 3%.

𝐆𝐫𝐚𝐛 𝐘𝐨𝐮𝐫 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.maximizemarketresearch.com/request-sample/21022/

𝐈𝐧𝐝𝐢𝐚 𝐓𝐢𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧

♦ 𝐛𝐲 𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐓𝐲𝐩𝐞

Passenger Car Tires
Two-Wheeler Tires
Commercial Vehicle Tire

♦ 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

𝐓𝐨 𝐚𝐜𝐜𝐞𝐬𝐬 𝐦𝐨𝐫𝐞 𝐝𝐞𝐭𝐚𝐢𝐥𝐬 𝐫𝐞𝐠𝐚𝐫𝐝𝐢𝐧𝐠 𝐭𝐡𝐢𝐬 𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐯𝐢𝐬𝐢𝐭 𝐭𝐡𝐞 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐰𝐞𝐛𝐩𝐚𝐠𝐞: https://www.maximizemarketresearch.com/request-sample/21022/

𝐈𝐧𝐝𝐢𝐚 𝐓𝐢𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐜𝐨𝐩𝐞 𝐚𝐧𝐝 𝐌𝐞𝐭𝐡𝐨𝐝𝐨𝐥𝐨𝐠𝐲:

A wealth of information on significant subjects, including those that are expected to support the industry's growth and upcoming issues, is included in the market research report India Tire. The industry's competitive landscape, investment potential in the India Tire market, and items promoted by well-known brands will all be thoroughly understood by stakeholders. The sector's quantitative and qualitative elements are examined in the study. A detailed examination of the competition for the India Tire Market is one of the things the MMR probe looks into.

The analysis includes a detailed list of needs along with a full justification for each. Numerous primary and secondary information sources, such as official government documents, websites, annual reports, and expert and professional sources, were considered when developing the India Tire Market.

𝐈𝐧𝐝𝐢𝐚 𝐓𝐢𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡 𝐨𝐫 𝐃𝐞𝐦𝐚𝐧𝐝 𝐢𝐧 𝐰𝐡𝐢𝐜𝐡 𝐫𝐞𝐠𝐢𝐨𝐧𝐬??

1. Northern India: The northern region, including Delhi, Haryana, Punjab, and Uttar Pradesh, is a crucial hub for the automotive industry. Major cities and extensive transportation activities drive tire demand. Road infrastructure developments further boost market growth.

2. Export Hubs: Regions like Gujarat and Maharashtra, with their proximity to major ports, play a vital role in tire exports. Efficient logistics and transportation networks support significant export activities, particularly to North America and Europe.

India exports tires to over 170 countries, with the United States being the largest market, accounting for 19% of exports. Other top destinations include Germany, Brazil, the United Kingdom, and France. The consistent demand from these countries underscores the sustained growth of the Indian tire market.

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

𝐅𝐮𝐭𝐮𝐫𝐞 𝐎𝐮𝐭𝐥𝐨𝐨𝐤

The Indian tire market is set for continued growth, driven by the expanding automotive sector, supportive government policies, and increasing consumer awareness of advanced tire technologies. As infrastructure projects progress and vehicle ownership rises, the demand for high-quality, efficient tires will only increase.

The report provides a comprehensive analysis of the Indian tire market, highlighting key trends, market dynamics, and future projections. It offers valuable insights for stakeholders, helping them navigate the competitive landscape and capitalize on growth opportunities. As the market evolves, innovations in tire technology and strategic government initiatives will play pivotal roles in shaping its trajectory.

𝐔𝐧𝐜𝐨𝐯𝐞𝐫 𝐈𝐧-𝐃𝐞𝐩𝐭𝐡 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬: khttps://www.maximizemarketresearch.com/market-report/india-tire-market/21022/

𝐓𝐚𝐛𝐥𝐞 𝐨𝐟 𝐂𝐨𝐧𝐭𝐞𝐧𝐭𝐬: 𝐈𝐧𝐝𝐢𝐚 𝐓𝐢𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭

Section 01: Overview
Section 02: Report Scope for the India Tire Market
Section 03: Landscape of the India Tire Market
Section 04: Size of the India Tire Market
Section 05: Types of India Tire Market Segmentation
Section 06: Analysis of Competitive Forces
Section 07: Profile of Customers
Section 08: Geographic Analysis
Section 09: Decision-Making Framework
Section 10: Factors Driving and Hindering Growth
Section 11: Current Market Developments
Section 12: Assessment of Market Participants
Section 13: Detailed Analysis of Vendors

𝐊𝐞𝐲 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬 𝐚𝐧𝐬𝐰𝐞𝐫𝐞𝐝 𝐢𝐧 𝐭𝐡𝐞 𝐈𝐧𝐝𝐢𝐚 𝐓𝐢𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐚𝐫𝐞:

What is India Tire?
What is the growth rate of the India Tire Market?
Which are the factors expected to drive the India Tire market growth?
What is the CAGR at which the India Tire market will grow during the forecast period?
What are the different segments of the India Tire Market?
Which is the fastest growing region in the India Tiremarket?
What growth strategies are the players considering to increase their presence in India Tire?
What are the upcoming opportunities and trends for the India Tire Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the India Tire Market?
Who are the leading companies and what are their portfolios in India Tire Market?
What segments are covered in the India Tire Market?
Who are the key players in 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 segment 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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𝐎𝐮𝐫 𝐀𝐝𝐝𝐫𝐞𝐬𝐬:

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𝐀𝐛𝐨𝐮𝐭 𝐌𝐚𝐱𝐢𝐦𝐢𝐳𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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