Press Release

India Tire Market to Transform into a Staggering $ 15 Billion Market by 2023

Expanding vehicle fleet, surging vehicle sales and rising disposable income to boost India tire market through 2023

According to TechSci Research report, India Tire Market By Vehicle Type, By Demand Category, By Radial vs Bias, By Rim Size, By Price Segment, Competition Forecast & Opportunities, 2013 – 2023, India tire market is projected to cross $ 15 billion of market revenues by 2023. Continuously expanding vehicle fleet and rising vehicles sales are two of the major demand generators of tires in the country. In addition, expanding ventures by leading automobile OEMs coupled with rising per capita income levels across the country are further anticipated to compliment the country’s tire market over the next five years. MRF is the most recognized tire brand across India as 80% of the respondents expressed knowledge of brand in the consumer survey conducted by TechSci Research. MRF also grabbed the highest satisfaction level among tire customers across the country.

Browse 3 market data Tables and 78 Figures spread through 125 Pages and an in-depth TOC on "India Tire Market"

With an increasing volume share of more than 50%, two-wheeler tire segment dominated India tire market in 2017, followed by the passenger car tire segment. The country’s tire market is largely concentrated in the south region owing to the region’s large population size and increasing demand for automobiles and construction equipment. Increasing presence of various domestic tire companies such as MRF Limited, CEAT Limited, JK Tyre & Industries Ltd., Apollo Tyres, etc., as well as major international brands including Bridgestone, Goodyear, Michelin, Continental, etc. across the country is expected to further intensify market competition in India tire market over the next five years.

Over the last decade, various leading domestic as well as international automobile OEMs have been increasing their investments in the country’s automobile industry. The same trend is anticipated to continue over the next five years as well, consequently positively influencing the country’s tire market during 2018-2023. “With booming construction industry and growing vehicle fleet, demand for tires is expected to grow at a robust pace across India in medium to long term. Moreover, consistently rising vehicle sales, increasing construction & infrastructure developments and growing urbanization would continue to stimulate tire demand in the country during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

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India Tire Market By Vehicle Type, By Demand Category, By Radial vs Bias, By Rim Size, By Price Segment, Competition Forecast & Opportunities, 2013 – 2023 has analyzed the potential of tire market across India, and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by the India tire market. 

About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.


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