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. According to MarkNtel Advisors Study.
India Tire Market Driver:
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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Key Market Reports Highlights
- Market Dimensions & Projections
- Pricing Evaluation
- Recent Strategic Moves by Companies
- Primary Stakeholders
- Import/Export Trend Analysis
- Competitive Landscape Assessment
- Emerging Opportunities
- Market Trends and Indicators
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India Tire Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2024
-Historical Period: 2020 to 2023
-Forecast Period: 2025 to 2030
- 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
- 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
- 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
- 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
- East
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – MRF, Apollo, CEAT, JK Tyres, Birla Tyres, Balakrishna Tires, Bridgestone, TVS, Continental, Goodyear are looking forward to strengthening their market positions.
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India Tire 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, Continental started manufacturing Tire Pressure Monitoring Systems (TPMS) for passenger cars.
Data-Driven Insights Backed by Proven Research
We follow a tried-and-tested research methodology that blends top-down and bottom-up approaches to deliver highly accurate market insights. Every report is powered by data triangulation, ensuring well-rounded and validated findings.
From smart sample selection and reliable data collection to in-depth analysis and precise forecasting, our process is designed to minimize error and maximize impact.
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