India Tyre Market Overview:
The India tyre market was worth US$ XX Billion in 2022, expanding at a CAGR of X% during 2017-2022. Looking forward, the market is projected to grow at a CAGR of around X% during 2023-2028, reaching a value of US$ XX Billion by 2028. A tyre is a circular, ring-shaped automotive component that contains the wheel rim and is filled with compressed air. It generally consists of numerous components, including a sidewall, bead filler and bundle, body ply, carcass, cap piles, edge cover, tread, and inner liner fitted over a wheel rim to serve as a cushion. These components are joined together to help ensure smooth interactions between the wheel and the surface. It assists in supporting the vehicle weight, transmitting traction, reducing vibrations, applying torque and braking forces to the road surface, absorbing shocks from the road, and maintaining and changing the direction of travel smoothly. As a result, the tyre finds extensive applications in the automobile industry for manufacturing numerous vehicles, including passenger cars, buses, military vehicles, motorcycles, and trucks.
The India tyre market is primarily driven by the increasing demand for enhanced comfort while driving among individuals and the rapid growth in the automotive sector. Moreover, the rising sales of personal automobiles due to the expanding population and inflating consumer disposable incomes are positively influencing the market growth. Besides this, several key players are heavily investing in product innovations, such as the development of eco-friendly, lightweight, and airless three-dimensional (3D) printed tyres, which in turn has catalyzed market growth. Additionally, there has been a rise in demand for tyres due to the surging adoption of heavy-duty vehicles across the construction, defense, and agriculture industries. In line with this, the rising export of cars, tractors, buses, heavy trucks, and other vehicles has augmented the product demand. Furthermore, rapid technological advancements and the increasing use of advanced methods in manufacturing are contributing to market growth. In addition, the rising infrastructural development projects to connect rural and urban locations represent another major growth-inducing factor. Other factors, including ongoing research and development (R&D) activities, increasing radialization of tyres, elevating living standards, and supportive government policies, are also anticipated to create a favorable market outlook.
Beginning with a regional overview, the report explores the dynamics that have a strong influence on the India tyre market and can also impact its future growth. Taking 2022 as the base year, the report covers historical market scenario from 2017-2022 and provides forecasts till 2028. This includes the study of value and volume trends and pricing history. Growth inducing factors, market restraints and recent developments have also been analysed in the report in order to provide a deeper knowledge about the industry. On a regional basis, the report examines the India tyre market in North India, East India, West and Central India, South India. For each of these regions, the report studies the India tyre market in detail for latest trends, outlook and opportunities.
The report analyses the competitive structure of the India tyre market industry and provides the profiles of major players operating in the market. The price margins for the products along with the various success and risk factors for manufacturers have also been covered in the report. Moreover, in order to determine market attractiveness, the report analyses the India tyre market industry along the parameters of the Porter’s Five Forces model. This model examines the degree of competition in the India tyre market industry by analysing the threat posed by new entrants and substitutes, and the bargaining power of suppliers and buyers. SWOT analysis of the market has also been presented in the report which highlights the strengths, weaknesses, opportunities and threats pertaining to the India tyre market industry. Furthermore, the value chain analysis of the India tyre market industry has also been covered in the report. This comprises of all the activities in the value chain, such as the procurement of various raw materials, manufacturing, sales and distribution.
India Tyre Market Segment Insights:
The India tyre market has been analysed as followed:
By Vehicle Type:
By OEM and Replacement Segment:
By Domestic Production and Imports:
By Radial and Bias Tyres:
By Tube and Tubeless Tyres:
By Tyre Size:
By Price Segment:
Value Chain Analysis
Key Drivers and Challenges
Porters Five Forces Analysis
The competitive landscape of the industry has also been examined along with the profiles of the key players. Some of the leading players operating in the market are:
Highlights of the India Tyre Market Report:
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