India Tyre Market 2025: Industry Valuation to Reach USD 27.6 Billion by 2033 - Expanding at a CAGR of 7.6%

Attributes and Key Statistics of the India Tyre Market Report by IMARC Group:

Base Year: 2024

Forecast Years: 2025-2033

Historical Years: 2019-2024

Units: USD Billion

Market Size in 2024: USD 13.4 Billion

Market Forecast in 2033: USD 27.6 Billion

Market Compound Annual Growth Rate 2025-2033: 7.6%

As indicated in the latest market research report published by IMARC Group, titled "India Tyre Market Size, Share, Trends and Forecast by Vehicle Type, OEM and Replacement Segment, Domestic Production and Imports, Radial and Bias Tyres, Tube and Tubeless Tyres, Tyre Size, Price Segment, and Region, 2025-2033," this report provides an in-depth analysis of the industry, featuring insights into the market. It encompasses competitor and regional analyses, as well as recent advancements in the market.

India Tyre Market Size & Future Growth Potential:

The India tyre market size was valued USD 13.4 billion in 2024. By 2033, this figure is projected to reach around USD 27.6 billion, with a compound annual growth rate (CAGR) of 7.6% over the forecast period (2025-2033).

Core Factors Driving Market Trends:

The tyre market in India is undergoing major changes based on changing consumer preferences and advancements in technology. One trend is the growing acceptance of radial tyres, which are preferred by consumers in the commercial vehicle segment as they offer durability and efficiency. Another trend is the rise of electric vehicles (EVs). Manufacturers are designing EV tyres to carry higher loads and have lower rolling resistance. Manufacturers are also focused on sustainability- they are using eco-friendly materials and processes to meet global environmental standards. Some of the largest growth in the tyre market is coming from online sales. Consumers like the convenience of browsing and comparing prices and features online.

Additionally, tyre retail networks and tyre servicing centres are expanding into Tier II and III cities, making it easier for many customers to access products. The tyre market is maturing and firms are innovating. There are new styles of tyres such as airless tyres, which do not require air to function, and smart tyres with sensors to monitor conditions in real-time, targeted towards a tech-savvy consumer. Finally, government programmes, like the Automotive Mission Plan and strict safety preferences, are pushing tyre manufacturers to improve quality and performance for products. All of these trends point to a dynamic change towards innovation, sustainability and digitalisation in India's tyre market.

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India Tyre Market Scope and Growth Analysis:

The India tyre market has tremendous growth potential, supported by a solid automotive industry and increasing levels of vehicle ownership. The replacement tyre segment is the largest driver of demand, primarily due to the huge existing vehicle fleet and increasing average vehicle age in the country. The development of infrastructure projects and logistics networks is driving demand in commercial vehicles, as these will mean ever increasing vehicle sales and therefore demand for tyres in the future. The two-wheeler segment is also contributing significant growth in the market, with rapid expansion in urban and even semi-urban areas.

Additionally, the Indian government's push for "Make in India" has encouraged the production of tyres domestically and reduced reliance on imports (in an aim to promote self-reliance). Finally, the aftermarket section is thriving, with a growing number of organized players in the market, providing products that are superior and more affordable than what was previously available to customers. Also, advancements in manufacturing technologies in tires (as one example - automation supplementation, or using AI to perform quality control) and capable of eliminating human error have led to increased efficiency of production processes and increased reliability of finished product. The newer focus on export opportunities, and the increasing acceptance of Indian tyre brands abroad also represents potential new growth avenues. Finally, with rising disposable incomes, a growing urban population, and supportive policies by the government, the India tyre market date is set to steadily expand in the coming years, with great opportunities for manufacturers and investors.

An In-Depth Analysis of Prominent Companies in the Industry by IMARC Group:

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

Comprehensive Market Report Highlights & Segmentation Analysis:

Analysis by Vehicle Type:

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

The two-wheeler tyre segment holds the largest share in the India tyre market, driven by high demand, widespread usage, and a rapidly growing two-wheeler population.

Analysis by OEM and Replacement:

• OEM Tyres
• Replacement Tyres

The replacement tyre segment dominates the India tyre market, accounting for the largest share due to increasing vehicle ownership, wear and tear, and growing consumer demand.

Analysis by Domestic Production and Imports:

• Domestic Production
• Imports

Domestic tyre manufacturing holds a dominant position in the Indian tyre market, accounting for the majority share and driving growth across various vehicle segments nationwide.

Analysis by Radial and Bias Tyres:

• Bias Tyres
• Radial Tyres

Radial tyres hold a dominant position in the India tyre market, driven by their superior performance, durability, fuel efficiency, and increasing adoption across vehicle segments.

Analysis by Tube and Tubeless Tyres:

• Tube Tyres
• Tubeless Tyres

The tubeless tyre segment holds the largest market share in the India tyre industry, driven by growing consumer preference for enhanced safety, durability, and fuel efficiency.

Analysis by Tyre Size:

• Small
• Medium
• Large

The small tyre segment accounts for the largest market share in India, mainly due to strong demand for two-wheelers, entry-level cars, and compact commercial vehicles.

Analysis by Price Segment:

• Low
• Medium
• High

Regional Analysis:

• North India
• East India
• West and Central India
• South India

West and Central India dominate the Indian tyre market, driven by robust automotive manufacturing hubs, advanced infrastructure, high vehicle ownership, and strong regional demand for replacement tyres.

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Key highlights of the Report:

• Historical Market Performance
• Future Market Projections
• Impact of COVID-19 on Market Dynamics
• Industry Competitive Analysis (Porter's Five Forces)
• Market Dynamics and Growth Drivers
• SWOT Analysis (Strengths, Weaknesses, Opportunities, Threats)
• Market Ecosystem and Value Creation Framework
• Competitive Positioning and Benchmarking Strategies

Major Advantages of the Report:

• This report provides market leaders and new entrants with accurate revenue estimates for the overall market and its key subsegments.

• Stakeholders can leverage this report to gain a deeper understanding of the competitive landscape, enabling them to strategically position their businesses and develop effective go-to-market strategies.

• The report provides stakeholders with valuable insights into the market dynamics, offering a comprehensive analysis of key drivers, restraints, challenges, and opportunities.

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Note: Should you require specific information not included in the current report, we are pleased to offer customization options to meet your needs.

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