According to the report by Expert Market Research (EMR), the India tyre market size is projected to grow at a CAGR of 6.68% between 2024 and 2032. Aided by the expanding automotive sector in India, coupled with the rising demand for vehicles across various segments, the market is expected to grow significantly by 2032.
Tyres, being a critical component in vehicles, play a vital role in ensuring safety, performance, and efficiency. The Indian tyre market is characterised by a wide range of products catering to different vehicle types, including passenger cars, commercial vehicles, two-wheelers, and three-wheelers. The India tyre market growth is primarily driven by the increasing vehicle production and sales, along with the growing consumer awareness regarding vehicle maintenance and safety.
The robust growth of the Indian automotive industry is a key driver for the tyre market. With the increasing disposable income and the growing middle-class population, there is a rising demand for personal vehicles, subsequently boosting the tyre market. Additionally, the expansion of commercial vehicle fleets for transportation and logistics services is also contributing to market growth.
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Another significant trend influencing the India tyre market outlook is the rising emphasis on sustainable and eco-friendly tyres. With environmental concerns and stringent regulations, tyre manufacturers are increasingly focusing on producing green tyres, which offer better fuel efficiency and are made from eco-friendly materials. Regionally, the market is spread across various parts of India, with significant contributions from states like Maharashtra, Tamil Nadu, and Gujarat, known for their automotive manufacturing hubs.
Looking ahead, the market is set for significant growth, underpinned by the expanding automotive sector and the rising demand for high-quality tyres. Technological advancements in tyre manufacturing and the growing trend towards eco-friendly tyres are expected to further fuel the India tyre market demand.
The market represents a dynamic and growing segment of the automotive industry, driven by the rising vehicle demand, technological advancements, and the shift towards sustainable products. With its diverse product range and growth potential, the Indian tyre market is poised to play a crucial role in the global tyre industry in the coming years.
India Tyre Market Segmentation
The market can be divided based on vehicle type, design, type, tyre size, price segment, distribution channel, and region.
Market Breakup by Vehicle Type
- Passenger Car
- Light Commercial Vehicle
- Medium and Heavy Commercial Vehicle
- Two Wheelers and Three Wheelers
- Off Road
- Others
Market Breakup by Design
- Radial
- Bias
Market Breakup by Type
- Tube
- Tubeless
Market Breakup by Tyre Size
- Small
- Medium
- Large
Market Breakup by Price Segment
- Low
- Medium
- High
Market Breakup by Distribution Channel
- OEMs
- Replacement
Market Breakup by Region
- North Region
- East Region
- West Region
- South Region
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Competitive Landscape of India Tyre Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the India tyre market. Some of the major players explored in the report by Expert Market Research are as follows:
- MRF Limited
- Apollo Tyres Limited
- CEAT Limited
- JK Tyre & Industries Ltd
- Balkrishna Industries Limited (BKT)
- TVS Srichakra Limited
- The Goodyear Tire & Rubber Company.
- Bridgestone Corporation
- Continental Tyre Group Limited
- Metro Tyres Limited
- Others
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