MarkNtel Advisors recently published a detailed industry analysis of the India Tire Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
India Tire Market, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030
The India Tire Market size is valued at around USD 11.98 billion in 2024 & is projected to reach USD 21.27 billion by 2030. The market is also estimated to grow at a CAGR of around 12.17% during the forecast period, i.e., 2025-30.
What are the major Driver the India Tire industry?
Robust Economic Growth & Increasing Vehicle Production – The main factors driving the tire market in India are, in fact, the country’s strong economic development and increasing vehicle production. India’s middle class has been growing, and disposable incomes have increased due to the country’s significant economic growth. This increasing economic growth has augmented consumers’ expenditures on automobiles. To meet the rising need for both personal and commercial transportation, there has been a notable growth in vehicle production. Because every new vehicle needs tires, the market for tires in India is directly boosted by this increase in vehicle production.
The government’s emphasis on improving rural connectivity and infrastructure also increases demand for commercial vehicles, which augments the size & volume of the tire industry in the country. The emergence of electric vehicles and improvements in tire technology are also driving the growth & expansion of the tire industry in India. India’s position in the global tire industry is further strengthened by the growing emphasis on manufacturing capabilities and exports. The tire industry’s continuous growth and development are supported by these elements working together to produce a vibrant environment.
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What segments define the India Tire Market from 2025 to 2030? How do these segments contribute to market dynamics and growth?
By Type of Vehicles
- Passenger Car- Market Size & Forecast 2020-2030, Thousand Units
- Light Commercial Vehicle- Market Size & Forecast 2020-2030, Thousand Units
- Medium and Heavy Commercial Vehicles- Market Size & Forecast 2020-2030, Thousand Units
- Off the Road (OTR) – Market Size & Forecast 2020-2030, Thousand Units
- Two Wheelers- Market Size & Forecast 2020-2030, Thousand Units
According to report, Amongst all, two-wheelers are anticipated to dominate the India Tire Market with the largest market share during 2025-30.
By Demand Category
- OEM- Market Size & Forecast 2020-2030, Thousand Units
- Aftermarket- Market Size & Forecast 2020-2030, Thousand Units
By Type of Tire
- Radial- Market Size & Forecast 2020-2030, Thousand Units
- Bias- Market Size & Forecast 2020-2030, Thousand Units
According to report, Here, radial tires are anticipated to dominate the market with the largest market share during the forecast period, principally due to the growing vehicle fleet for passenger cars & light commercial vehicles (LCVs) across India.
By Sales Channel
- Direct Sales- Market Size & Forecast 2020-2030, Thousand Units
- Exclusive Outlets & Multi-brand Stores- Market Size & Forecast 2020-2030, Thousand Units
- Online- Market Size & Forecast 2020-2030, Thousand Units
By Price Category
- Budget- Market Size & Forecast 2020-2030, Thousand Units
- Economy- Market Size & Forecast 2020-2030, Thousand Units
- Premium- Market Size & Forecast 2020-2030, Thousand Units
By Tire Size
- Tire Size 1- Market Size & Forecast 2020-2030, Thousand Units
- Tire Size 2 – Market Size & Forecast 2020-2030, Thousand Units
- Tire Size 3 – Market Size & Forecast 2020-2030, Thousand Units
- Tire Size 4 – Market Size & Forecast 2020-2030, Thousand Units
- Tire Size 5 – Market Size & Forecast 2020-2030, Thousand Units
Explore the Complete India Tire Market Analysis Report – https://www.marknteladvisors.com/research-library/india-tire-market-analysis.html
Geographical Analysis: India Tire Market
By Region
East
- Bihar
- Orissa
- Jharkhand
- West Bengal
- Chhattisgarh
- North-Eastern States
West
- Rajasthan
- Gujarat
- Goa
- Maharastra
- Madhya Pradesh
North
- Jammu & Kashmir
- Punjab
- Uttar Pradesh
- Uttarakhand
- Haryana
- Himachal Pradesh
South
- Andhra Pradesh
- Karnataka
- Kerala
- Tamil Nadu
- Telangana
India Tire Market Share & Competitive Landscape:
The India Tire Market is characterized by intense competition, with several key players driving growth through innovation, market expansion, and strategic investments. The competitive landscape provides valuable insights into the industry’s leading companies, highlighting their strengths, financial performance, and market influence.
Leading Companies in the India Tire Market are:
- MRF
- Apollo Tyres
- CEAT
- JK Tyres & Industries Ltd.
- Balakrishna Tires
- TVS Srichakra Ltd.
- Goodyear India
- Bridgestone India Pvt. Ltd.
- Michelin India Pvt. Ltd.
- Continental India
India Tire Market Industry Recent Development:
- April 2023:A well-known tire manufacturer, CEAT Limited, partnered with a CEAT dealer, Bharat Tyres Gujarat Pvt Ltd., to create a cutting-edge truck service hub in Gandhidham.
- April 2023: At its Bangalore facility,Continentalstarted manufacturing Tire Pressure Monitoring Systems (TPMS) for passenger cars.
Questions Addressed in this Study
1.What factors are driving the India Tire Market growth?
2.How is the India Tire Market expected to grow over the next five years?
3.What are the key insights into the current trends in the India Tire Market?
4.What is the current size of the India Tire Market, and how is it projected to change in the future?
6.What is the future outlook for the India Tire Market in terms of technological advancements and market expansion?
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Why MarkNtel Advisors?
MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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