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India Tire Market Outlook: Growth to 239.30 Mn Units by 2030 at 3% CAGR

India Tire Market

India Tire Market

๐ˆ๐ง๐๐ข๐š ๐“๐ข๐ซ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ: ๐†๐ซ๐จ๐ฐ๐ญ๐ก, ๐“๐ซ๐ž๐ง๐๐ฌ, ๐š๐ง๐ ๐‘๐ž๐ ๐ข๐จ๐ง๐š๐ฅ ๐ˆ๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ

The India tire market is experiencing robust expansion, fueled by rising automotive production, increasing urbanization, and advancements in tire technology. Valued at 194.57 Mn in 2023, the market is projected to grow at a CAGR of 3 %, reaching 239.30 Mn by 2030. This press release delves into the dynamics of the India tire market, highlighting regional developments and industry trends in countries such as Vietnam, Thailand, Japan, South Korea, Singapore, the US, and Europe.

๐„๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ž ๐๐ž๐ญ๐š๐ข๐ฅ๐ž๐ ๐๐š๐ญ๐š ๐š๐ง๐ ๐ข๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐›๐ฒ ๐ฏ๐ข๐ž๐ฐ๐ข๐ง๐  ๐ญ๐ก๐ž ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž @https://www.maximizemarketresearch.com/request-sample/21022/

๐ˆ๐ง๐๐ข๐š ๐“๐ข๐ซ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ ๐ข๐ง ๐•๐ข๐ž๐ญ๐ง๐š๐ฆ:

Vietnam's burgeoning automotive industry is driving demand for tires, with significant investments in production facilities. ๐๐ซ๐ข๐๐ ๐ž๐ฌ๐ญ๐จ๐ง๐ž ๐•๐ข๐ž๐ญ๐ง๐š๐ฆ and ๐ƒ๐ฎ๐ง๐ฅ๐จ๐ฉ ๐“๐ข๐ซ๐ž๐ฌ are expanding their presence to cater to rising consumer demand. Additionally, government incentives for foreign investments have encouraged collaborations between local manufacturers and global giants.

๐ˆ๐ง๐๐ข๐š ๐“๐ข๐ซ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐ข๐ง ๐“๐ก๐š๐ข๐ฅ๐š๐ง๐:

Thailand, a leading exporter of natural rubber, is capitalizing on its resources to bolster tire production. Key players like ๐Œ๐ข๐œ๐ก๐ž๐ฅ๐ข๐ง and ๐†๐จ๐จ๐๐ฒ๐ž๐š๐ซ have established advanced manufacturing plants in the country. Recent mergers, such as the partnership between ๐“๐ก๐š๐ข ๐‘๐ฎ๐›๐›๐ž๐ซ ๐๐ซ๐จ๐๐ฎ๐œ๐ญ๐ฌ and ๐’๐ฎ๐ฆ๐ข๐ญ๐จ๐ฆ๐จ ๐‘๐ฎ๐›๐›๐ž๐ซ ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐ž๐ฌ, highlight Thailand's strategic importance in the global tire industry.

๐ˆ๐ง๐๐ข๐š ๐“๐ข๐ซ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐“๐ซ๐ž๐ง๐๐ฌ ๐ข๐ง ๐‰๐š๐ฉ๐š๐ง:

Japan continues to lead in tire innovation, focusing on eco-friendly and fuel-efficient designs. Companies like ๐๐ซ๐ข๐๐ ๐ž๐ฌ๐ญ๐จ๐ง๐ž and ๐˜๐จ๐ค๐จ๐ก๐š๐ฆ๐š ๐‘๐ฎ๐›๐›๐ž๐ซ ๐‚๐จ. are pioneering advancements in materials and tread technologies. The introduction of smart tires with real-time monitoring systems underscores Japan's commitment to enhancing vehicle safety and performance.

๐†๐ž๐ญ ๐š ๐œ๐ฅ๐จ๐ฌ๐ž๐ซ ๐ฅ๐จ๐จ๐ค ๐š๐ญ ๐ญ๐ก๐ž ๐ ๐š๐ฆ๐ž-๐œ๐ก๐š๐ง๐ ๐ข๐ง๐  ๐ฉ๐ซ๐จ๐๐ฎ๐œ๐ญ๐ฌ ๐๐ซ๐ข๐ฏ๐ข๐ง๐  ๐ฌ๐ฎ๐œ๐œ๐ž๐ฌ๐ฌ :https://www.maximizemarketresearch.com/request-sample/21022/

๐ˆ๐ง๐๐ข๐š ๐“๐ข๐ซ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‚๐จ๐ง๐ฌ๐จ๐ฅ๐ข๐๐š๐ญ๐ข๐จ๐ง ๐ข๐ง ๐’๐จ๐ฎ๐ญ๐ก ๐Š๐จ๐ซ๐ž๐š:

South Korea's tire market is witnessing consolidation as industry leaders streamline operations. ๐‡๐š๐ง๐ค๐จ๐จ๐ค ๐“๐ข๐ซ๐ž recently acquired ๐€๐ฎ๐ซ๐จ๐ซ๐š ๐“๐ข๐ซ๐ž ๐‚๐จ., enhancing its product portfolio and market reach. The government's emphasis on green manufacturing has also spurred investments in sustainable tire technologies.

๐ˆ๐ง๐๐ข๐š ๐“๐ข๐ซ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐”๐ฉ๐๐š๐ญ๐ข๐จ๐ง ๐ข๐ง ๐’๐ข๐ง๐ ๐š๐ฉ๐จ๐ซ๐ž:

Singapore serves as a regional hub for tire distribution and innovation, with companies like ๐‚๐จ๐ง๐ญ๐ข๐ง๐ž๐ง๐ญ๐š๐ฅ ๐€๐† and ๐๐ข๐ซ๐ž๐ฅ๐ฅ๐ข leveraging its strategic location. Collaborative projects with research institutions have resulted in breakthroughs in tire recycling and sustainable materials, aligning with global environmental goals.

๐ˆ๐ง๐๐ข๐š ๐“๐ข๐ซ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ ๐ข๐ง ๐”๐ง๐ข๐ญ๐ž๐ ๐’๐ญ๐š๐ญ๐ž๐ฌ:

The US tire market remains robust, driven by demand for high-performance and specialty tires. Leading manufacturers such as ๐†๐จ๐จ๐๐ฒ๐ž๐š๐ซ, ๐‚๐จ๐จ๐ฉ๐ž๐ซ ๐“๐ข๐ซ๐ž, and ๐Œ๐ข๐œ๐ก๐ž๐ฅ๐ข๐ง ๐๐จ๐ซ๐ญ๐ก ๐€๐ฆ๐ž๐ซ๐ข๐œ๐š are expanding production capacities to meet consumer needs. Recent developments include the merger of ๐‚๐จ๐จ๐ฉ๐ž๐ซ ๐“๐ข๐ซ๐ž with ๐†๐จ๐จ๐๐ฒ๐ž๐š๐ซ, creating one of the largest tire companies in the world.

๐”๐ง๐ฅ๐จ๐œ๐ค ๐œ๐ซ๐ข๐ญ๐ข๐œ๐š๐ฅ ๐ฆ๐š๐ซ๐ค๐ž๐ญ ๐ข๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐›๐ฒ ๐ž๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ข๐ง๐  ๐ญ๐ก๐ž ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐ฏ๐ข๐š ๐ญ๐ก๐ž ๐ฅ๐ข๐ง๐ค @https://www.maximizemarketresearch.com/request-sample/21022/

๐ˆ๐ง๐๐ข๐š ๐“๐ข๐ซ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐š๐ง๐ ๐“๐ซ๐ž๐ง๐๐ฌ ๐ข๐ง ๐„๐ฎ๐ซ๐จ๐ฉ๐ž:

Europe's tire market is thriving, with a strong focus on sustainability and innovation. Companies like ๐‚๐จ๐ง๐ญ๐ข๐ง๐ž๐ง๐ญ๐š๐ฅ ๐€๐† and ๐๐ข๐ซ๐ž๐ฅ๐ฅ๐ข are leading initiatives to develop low-rolling-resistance tires for electric vehicles. The European Union's stringent regulations on emissions and safety are driving advancements in tire designs and materials.

๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ๐š๐ญ๐ข๐จ๐ง:

๐›๐ฒ ๐•๐ž๐ก๐ข๐œ๐ฅ๐ž ๐“๐ฒ๐ฉ๐ž

Passenger Car Tires
Two-Wheeler Tires
Commercial Vehicle Tires

๐›๐ฒ ๐“๐ข๐ซ๐ž ๐“๐ฒ๐ฉ๐ž

Radial Tires
Bias-Ply Tires
Tubeless Tires

The market is divided into three segments: tubeless tires, bias-ply tires, and radial tires. Over the course of the projection period, the Radial Tires sector is anticipated to maintain its dominant market share in India, having done so in 2023. Steel belts run beneath the tread of radial tires, which are made of layers of fabric cords oriented 90 degrees to the direction of travel. Compared to bias-ply tires, its radial design offers stability, increased traction, and longer tread life. For the majority of passenger cars in India, radial tires are the standard option. Performance, comfort, and fuel economy are all balanced by them.

๐›๐ฒ ๐’๐š๐ฅ๐ž๐ฌ ๐‚๐ก๐š๐ง๐ง๐ž๐ฅ

OEM Sales
Aftermarket Sales

OEM and aftermarket sales make up the two market segments. Over the course of the forecast period, the OEM Sales category is anticipated to have the greatest share of the Indian tire market. As tire producers form alliances with automakers to supply tires for new vehicles, OEM sales are essential. The original equipment tires are chosen and intended to enhance the cars' overall attributes and performance. OEM sales give Indian tire producers a chance to display their goods on brand-new automobiles, enhancing brand awareness and recognition.

๐›๐ฒ ๐„๐ง๐-๐”๐ฌ๐ž๐ซ

Individual Consumers
Commercial Fleet Owners
Agricultural Sector

๐†๐ž๐ญ ๐š ๐๐ž๐ญ๐š๐ข๐ฅ๐ž๐ ๐š๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ:https://www.maximizemarketresearch.com/market-report/india-tire-market/21022/

๐Š๐ž๐ฒ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ:

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

๐‘๐ž๐œ๐ž๐ง๐ญ ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ฆ๐ž๐ง๐ญ๐ฌ ๐ข๐ง ๐ˆ๐ง๐๐ข๐š ๐“๐ข๐ซ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ

๐€๐ฉ๐จ๐ฅ๐ฅ๐จ ๐“๐ฒ๐ซ๐ž๐ฌ launched a new range of eco-friendly tires designed for electric vehicles.
๐‰๐Š ๐“๐ฒ๐ซ๐ž announced the expansion of its manufacturing facility in Chennai to increase production capacity.
๐Œ๐‘๐… ๐‹๐ข๐ฆ๐ข๐ญ๐ž๐ partnered with ๐Œ๐ข๐œ๐ก๐ž๐ฅ๐ข๐ง to develop high-performance tires for the premium automotive segment.
The government's "Make in India" initiative attracted foreign investments from ๐๐ซ๐ข๐๐ ๐ž๐ฌ๐ญ๐จ๐ง๐ž and ๐†๐จ๐จ๐๐ฒ๐ž๐š๐ซ.
๐‚๐„๐€๐“ ๐“๐ข๐ซ๐ž๐ฌ introduced a digital platform for real-time monitoring of tire performance, enhancing customer engagement.

๐‚๐ก๐ž๐œ๐ค ๐จ๐ฎ๐ญ ๐จ๐ฎ๐ซ ๐ญ๐ซ๐ž๐ง๐๐ข๐ง๐  ๐ฌ๐ญ๐ฎ๐๐ข๐ž๐ฌ ๐ญ๐จ ๐ฎ๐ง๐๐ž๐ซ๐ฌ๐ญ๐š๐ง๐ ๐ข๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐ฌ๐ก๐ข๐Ÿ๐ญ๐ฌ :

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๐‚๐จ๐ง๐ญ๐š๐œ๐ญ ๐”๐ฌ:

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๐€๐›๐จ๐ฎ๐ญ ๐”๐ฌ:

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12-11-2018 | Health & Medicine
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