Report Description

The India Tire Market is anticipated to register at a robust CAGR in terms of value during the forecast period. The estimated growth of the India tire market is propelled by the increasing vehicle sales in the country and rich resources of raw material present in the country. Moreover, many tire manufacturers are establishing their production plants in the country because of the robust government initiatives and policies and availability of skilled labor. Moreover, with the rising disposal income, the Indian peoples are buying premium cars. Thus, the demand for advanced and premium quality tires is increasing which is further expected to drive the growth of the India Tire market during the forecast period. The India’s tire market based on vehicle type is segmented into two-wheeler, passenger car, light commercial vehicle and medium and heavy commercial vehicle, two-wheeler, three-wheeler, and OTR.


Rising Sales of Vehicle

The estimated growth of the India tire market is buoyed by the growth of the automobile industry, i.e., the increase in the ownership of vehicles, increasing innovation in the Indian tire industry; technology-driven production facilities, expanding working population, and a continuous focus on more sustainable products. Moreover, the rising awareness of the environment and quality standards is leading to better product value, which is further anticipated to aid the growth of the India tire industry over the forecast years.


Advancement in Tire Technology

Tire manufacturers are adopting new technologies to reduce costs by automating the process, and by implementing robotics, IOT, and machine learning they are enhancing their efficiency. Technologies such as QuietTred Technology help tire manufacturers to minimize the tire noise and at the same time also helps in reducing vibrations by using noise dampening tread design and optimizes the cavity design as well. All these technologies will have a huge scope in future because of the demand of new tires across India. Efforts have also been underway to deliver flexible technology alternatives for the enhancement of the supply chain across  India. With the safety being a key concern with vertical transport, robust research is being conducted by the tire companies to make process safer and more efficient.

Use of Sustainable Raw Materials for Tire Manufacturing

The companies in the India Tire Market have been making substantial efforts toward achieving sustainability in their processes, products, and services by implementing changes in their operations. The companies have also started using sustainable raw materials for tire manufacturing like use of vegetable byproducts such as soyabean oil in place of petroleum oils. This is resulting in improving manufacturing efficiency and reducing energy consumption. Similarly, the companies are also working on increasing the fuel efficiency of the vehicles by adding innovations to the radial tires. Many of the tire production facilities are working on net zero carbon emission plans by introducing renewable energy sources. For example, Bridgestone has set a goal for net zero emission by 2050.


Developments in Rubber Products

Developments in recycling of end-of-life tires and other rubber-based industrial products is making new alternative for the scrap tires like many key tire players are now using recycled raw material micronized rubber powders (MRP) which has high-performance, long-lasting, low-cost material figures. Similarly, the average lifespan of a vehicle was significantly lower than it is today, this leads to more miles and overall it is acting as one of the driver that is influencing the tire market growth in India, whereas more advanced electric vehicles will have comparatively higher life expectancy, so as the technological advancements in the auto sector continues to grow, average life of the vehicles will also go up, thereby driving the growth of the India tire market.



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Market Segmentation

The India Tire Market is segmented on the basis of vehicle type, demand category, tire construction type, by region. Based on vehicle type, the market is further divided into passenger car, light commercial vehicle, medium & heavy commercial vehicle, two wheelers, three wheelers and OTR. Based on the demand category segment the market is further segmented into OEM and aftermarket. Based on tire construction type the market is further bifurcated into radial and bias. On the basis of region, the market is divided into North, South, East, and West.

Company Profiles

Some of the major players which are operating in India Tire Market are CEAT Limited, JK Tyre & Industries Ltd, Bridgestone India Private Limited, Birla Tyres Limited, Goodyear India Limited, TVS Srichakra Limited, Apollo Tyres Ltd., Continental India Limited, Balkrishna Industries Limited, and Michelin India Private Limited.

Attribute

Details

Base Year

2022

Historical Years

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Billion and CAGR for 2018-2022 and 2023E-2028F

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

By Vehicle Type

By Demand Category  

By Tire Construction Type

By Region

By Company

 

 

 

 

Key Companies Profiled

CEAT Limited, JK Tyre & Industries Ltd, Bridgestone India Private Limited, Birla Tyres Limited, Goodyear India Limited, TVS Srichakra Limited, Apollo Tyres Ltd., Continental India Limited, Balkrishna Industries Limited, Michelin India Private Limited.

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail of customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

In this report, India Tire Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • India Tire Market, By Vehicle Type:
    • Passenger Cars  
    • Light Commercial Vehicle
    • Medium & Heavy Commercial Vehicle
    • Two Wheelers
    • Three Wheelers
    • OTR  
  • India Tire Market, By Demand Category:
    • OEM
    • Aftermarket
  • India Tire Market, By Tire Construction Type:
    • Radial  
    • Bias  
  • India Tire Market, By Region:
    • North
    • South
    • East
    • West
  • Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India Tire Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

India Tire Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected] 

Table of content

1.    Introduction

1.1.  Market Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Impact of COVID-19 on India Tire Market

4.1.  Impact Assessment Model      

4.1.1.     Key Segments Impacted

4.1.2.     Key Regions Impacted

5.    Voice of Customer

5.1.  Factors Influencing Purchase Decision

5.2.  Brand Awareness

5.3.  Challenges & Unmet Needs

6.    India Tire Market Outlook, 2018-2028

Market Size & Forecast

6.1.1.     By Value & Volume

6.2.  Market Share & Forecast

6.2.1.     By Vehicle Type Market Share Analysis (Passenger Cars, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, Two-Wheelers, Three-Wheelers and OTR)

6.2.2.     By Demand Category Market Share Analysis (OEM, & Aftermarket)

6.2.3.     By Tire Construction Type Market Share Analysis (Radial, Bias)

6.2.4.     By Regional Market Share Analysis (North, South, East, West)

6.2.5.     By Company Market Share Analysis (By Value, 2022)

6.3.  India Tire Market Mapping and Opportunities

6.3.1.     By Vehicle Type Market Mapping & Opportunity Assessment

6.3.2.     By Demand Category Market Mapping & Opportunity Assessment

6.3.3.     By Tire Construction Type Market Mapping & Opportunity Assessment

6.3.4.     By Regional Market Mapping & Opportunity Assessment

7.    India Passenger Car Tire Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Volume and Value

7.2.  Market Share & Forecast

7.2.1.     By Demand Category Market Share Analysis  

7.2.2.     By Tire Construction Type Market Share Analysis

8.    lIndia Light commercial Vehicle Tire Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Volume and Value

8.2.  Market Share & Forecast

8.2.1.     By Demand Category Market Share Analysis

8.2.2.     By Tire Construction Type Market Share Analysis

9.    India Medium & Heavy Commercial Vehicle Tire Market Outlook

9.1.  Market Size & Forecast

9.1.1.     By Volume and Value

9.2.  Market Share & Forecast

9.2.1.     By Demand Category Market Share Analysis

9.2.2.     By Tire Construction Type Market Share Analysis

10.  India Two-Wheeler Tire Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Volume and Value

10.2.              Market Share & Forecast

10.2.1.  By Demand Category Market Share Analysis

10.2.2.  By Tire Construction Type Market Share Analysis

11.  India Three-Wheeler Tire Market Outlook

11.1.              Market Size & Forecast

11.1.1.  By Volume and Value

11.2.              Market Share & Forecast

11.2.1.  By Demand Category Market Share Analysis

11.2.2.  By Tire Construction Type Market Share Analysis

12.  India OTR Tire Market Outlook

12.1.              Market Size & Forecast

12.1.1.  By Volume and Value

12.2.              Market Share & Forecast

12.2.1.  By Demand Category Market Share Analysis

12.2.2.  By Tire Construction Type Market Share Analysis

13.  Market Dynamics

13.1.              Market Drivers

13.2.              Market Challenges

14.  Market Trends & Developments

15.  Porter’s Five Forces Model

15.1.              Competitive Rivalry

15.2.              Bargaining Powers of Suppliers

15.3.              Bargaining Powers of Buyers

15.4.              Threat of New Entrants

15.5.              Threat of Substitutes

16.  Policy & Regulatory Landscape

17.  Supply Chain Analysis

18.  India Economic Profile

19.  Competitive Landscape

19.1.              Company Profiles

19.1.1.  CEAT Limited.

19.1.1.1.      Company Details

19.1.1.2.      Products & Services

19.1.1.3.      Recent Development

19.1.1.4.      Key Management Personnel

19.1.2.  JK Tyre & Industries Ltd

19.1.2.1.      Company Details

19.1.2.2.      Products & Services

19.1.2.3.      Recent Development

19.1.2.4.      Key Management Personnel

19.1.3.  Bridgestone India Private Limited

19.1.3.1.      Company Details

19.1.3.2.      Products & Services

19.1.3.3.      Recent Development

19.1.3.4.      Key Management Personnel

19.1.4.  Birla Tyres Limited

19.1.4.1.      Company Details

19.1.4.2.      Products & Services

19.1.4.3.      Recent Development

19.1.4.4.      Key Management Personnel

19.1.5.  Goodyear India Limited

19.1.5.1.      Company Details

19.1.5.2.      Products & Services

19.1.5.3.      Recent Development

19.1.5.4.      Key Management Personnel

19.1.6.  TVS Srichakra Limited.

19.1.6.1.      Company Details

19.1.6.2.      Products & Services

19.1.6.3.      Recent Development

19.1.6.4.      Key Management Personnel

19.1.7.  Apollo Tyres Ltd

19.1.7.1.      Company Details

19.1.7.2.      Products & Services

19.1.7.3.       

19.1.7.4.      Recent Development

19.1.7.5.      Key Management Personnel

19.1.8.  Continental India Limited

19.1.8.1.      Company Details

19.1.8.2.      Products & Services

19.1.8.3.      Recent Development

19.1.8.4.      Key Management Personnel

19.1.9.  Balkrishna Industries Limited

19.1.9.1.      Company Details

19.1.9.2.      Products & Services

19.1.9.3.      Recent Development

19.1.9.4.      Key Management Personnel

19.1.10.                Michelin India Private Limited

19.1.10.1.    Company Details

19.1.10.2.    Products & Services

19.1.10.3.    Recent Development

19.1.10.4.    Key Management Personnel

20.  Strategic Recommendations/Action Plan

20.1.              Key Focus Areas

20.2.              Target Regions

20.3.              Target Vehicle Type

21.  About Us & Disclaimer

Figures and Tables

Frequently asked questions

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Two-wheeler has the highest market share in India followed by passenger car. The lifespan of two-wheeler tire is less compared to any other vehicle, that’s why in aftermarket the demand of two-wheeler tires is high.

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Tire retreading and unavailability of raw materials for the manufacturing of green and smart tires are the main challenges hampering the India Tire Market.

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The top players in the India Tire Market are CEAT Limited, JK Tyre & Industries Ltd, Bridgestone India Private Limited, Birla Tyres Limited, Goodyear India Limited, TVS Srichakra Limited, Apollo Tyres Ltd., Continental India Limited, and Balkrishna Industries Limited.

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The North region has the highest market share in the India Tire Market followed by the South.

profile

Srishti Verma

Business Consultant
Press Release

India Tire Market to be Dominated by Two-Wheeler Segment during the Forecast Period

Apr, 2023

Increasing sales of the passenger car and rising demand of tire for two-wheeler in aftermarket is driving the Indian Tire market through 2028.