India Tire Market Report Overview
The report provides an analysis of both the current and future conditions in the India Tire market, delivering valuable insights and the latest information across essential segments. Within the context of the India Tire market, the study covers crucial research areas like revenue generation, sales, and overall income. In order to offer a thorough evaluation, the report presents two distinct scenarios that encompass the entire range of the India Tire market, including the projected India Tire sales during the forecast period.
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 Scope and Research Methodology
The primary goal of the India Tire market report is to offer a comprehensive analysis using clear and straightforward language. The study encompasses all the prominent companies and key aspects within the India Tire market, evaluating various measures like volume, share, growth, and strategies. This research not only assists established businesses in refining their operational plans but also provides future entrants with strategic recommendations. MMR's research undertakes a thorough exploration of the India Tire market, highlighting the foremost global companies based on metrics such as volume, share, strategies, and growth. The report further supplies strategies applicable to both existing industry participants and prospective India Tire market entrants. Moreover, the global report for the India Tire market presents a meticulous breakdown of regional share distribution, accompanied by an examination of growth drivers in those specific regions.
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India Tire Market Regional Insights
Indian-manufactured tires find their way to more than 170 countries worldwide, encompassing discerning markets in North America and Europe. The United States leads the pack, accounting for 19% of India's tire exports and holding the position as the largest market. According to data from the Ministry of Commerce, Government of India, other top export destinations in FY22 include Germany, Brazil, the United Kingdom, and France. The sustained growth in the India tire Market is due to the unwavering demand from these key partner nations.
India Tire Market
The northern region of India, including states such as Delhi, Haryana, Punjab, and Uttar Pradesh, is a significant hub for the automotive industry. The demand for tires in this region is driven by the presence of major cities, increased vehicle ownership, and transportation activities. The development of road infrastructure and connectivity projects also influences tire demand. Regions with proximity to major ports, such as those in Gujarat and Maharashtra, play a crucial role in tire exports. These regions benefit from efficient logistics and transportation networks for exporting tires to international markets.
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
Radial tires, bias-ply tires, and tubeless tires make up the market segments. 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. Due to changes in consumer tastes and technological advancements.
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. Tires purchased through original equipment manufacturer channels meet strict quality requirements and norms.
by End-User
Individual Consumers
Commercial Fleet Owners
Agricultural Sector
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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 Offerings:
- Past Market Size and Competitive Landscape (2017 to 2021)
- Past Pricing and price curve by region (2017 to 2021)
- Market Size, Share, Size Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by segments and their sub-segments
- 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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