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India Tyre Market Outlook 2024-2032
The India tyre market reached a volume of nearly 190.54 million units in 2023. The market is projected to grow at a CAGR of 6.6% between 2024 and 2032 and reach a volume of around 339.37 million units by 2032.
Key Benefits of the India Tyre Market Growth
The India tyre market is experiencing significant growth, driven by various factors such as the expansion of the automotive sector, increasing disposable income, infrastructure development, and rising vehicle ownership across urban and rural areas. This market is bolstered by growing demand for both passenger and commercial vehicles, supported by favorable government policies such as incentives for electric vehicles (EVs) and the production-linked incentive (PLI) scheme for the automotive sector. As India continues its transition toward becoming a global manufacturing hub, domestic and international tyre manufacturers are investing heavily in production capabilities to meet rising demand and export opportunities.
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The market's growth is further influenced by advancements in tyre technology and the increasing preference for fuel-efficient and eco-friendly products. Radialisation, particularly in the commercial vehicle segment, is a key trend as it enhances fuel efficiency and extends tyre lifespan. Similarly, tubeless tyres are gaining traction in passenger vehicles for their convenience and durability. Another contributing factor is the rapid penetration of EVs, requiring specialized tyres to support their unique requirements, such as low rolling resistance and high durability. Tyre manufacturers are responding by developing EV-specific tyres, helping India align with global trends in sustainable transportation.
Additionally, the rise of e-commerce and the expansion of last-mile delivery services are fueling demand for commercial vehicle tyres, particularly in urban and semi-urban areas. The logistics and transportation sectors are expanding, further boosting the market for heavy and light commercial vehicle tyres. Agricultural tyres are also witnessing steady demand growth, driven by mechanization in the farming sector and government initiatives supporting rural development.
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India Tyre Market Trends
The India tyre market is witnessing dynamic trends driven by technological advancements, evolving consumer preferences, and shifts in the automotive industry. One of the most prominent trends is the increasing adoption of radial tyres, particularly in the commercial vehicle segment. Radialisation enhances fuel efficiency, durability, and performance, making it a preferred choice for long-haul transport and fleet operators. This shift aligns with the rising awareness of operational cost savings in logistics and transportation sectors. Similarly, tubeless tyres are gaining popularity in the passenger vehicle market, thanks to their convenience, improved safety features, and longer lifespan.
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The rapid growth of electric vehicles (EVs) in India is reshaping the tyre market. EVs require specialized tyres designed to handle their unique features, such as higher torque, quieter operation, and enhanced rolling resistance. Tyre manufacturers are investing in research and development to create EV-specific tyres, catering to this emerging segment. This trend is further supported by government incentives promoting EV adoption and infrastructure development, which are expected to drive demand for compatible tyres.
Sustainability is becoming a critical focus area, with tyre manufacturers adopting eco-friendly practices and materials. The use of recycled rubber, bio-based materials, and energy-efficient production processes is gaining momentum as companies aim to reduce their environmental footprint. This shift aligns with global sustainability goals and increasing consumer awareness about the environmental impact of products. Additionally, the adoption of smart tyre technology, which includes sensors for monitoring pressure, temperature, and wear, is on the rise. These innovations enhance safety and performance while catering to tech-savvy consumers.
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India Tyre Industry Segmentation
Breakup by Vehicle Type:
• Passenger Car
• Light Commercial Vehicle
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• Medium and Heavy Commercial Vehicle
• Two Wheelers and Three Wheelers
• Off Road
• Others Breakup by Design:
• Radial
• Bias Breakup by Type:
• Tube • TubelessTube
• Tubeless
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01 Trade Data Analysis
India Tyre Industry Segmentation
Breakup by Tyre Size: • Small • Medium • Large
by
Segment:
This is a sample text. Trade Data Analysis
Leading Companies in the India Tyre Market
Major players in the India tyre market are increasing their collaboration, partnership, and research and development activities to gain a competitive edge
MRF Limited
MRF Limited, headquartered in India and founded in 1946, offers a diverse range of tyres catering to various types of vehicles, including heavy and light commercial vehicles, passenger cars, tractors, earthmovers, and motorsport vehicles. Some of its key brands include MUSCLE LIFT, STEEL MUSCLE, SHAKTI LIFE, SHAKTI SUPER, SUPER LUG, and SAVARI, among others.
Apollo Tyres Ltd
Apollo Tyres Ltd is a prominent player in the tyre industry, manufacturing and distributing quality tyres worldwide. Its product line includes several renowned brands such as ALNAC, AMAZER, APTERRA, ASPIRE, ALTRUST, MANCHESTER UNITED, and QUANTUM.
CEAT Limited
Headquartered in India and founded in 1858, CEAT offers a comprehensive selection of tyres suitable for all types of vehicles, ranging from heavy-duty trucks and buses to light commercial vehicles, earthmovers, forklifts, tractors, trailers, cars, motorcycles, scooters, and even auto-rickshaws.
Leading Companies in the India Tyre Market
JK Tyre & Industries Ltd.
Headquartered in India and founded in 1951, the company has introduced innovative 'Smart Tyre' technology in India, with Tyre Pressure Monitoring Systems (TPMS) and TREEL Sensors that enable real-time monitoring of a tyre's critical parameters, such as pressure and temperature.
Other key players in the India tyre market include Balkrishna Industries Limited, TVS Srichakra Limited, The Goodyear Tire & Rubber Company, Bridgestone Corporation, Continental Tyre Group Ltd, and Metro Tyres Limited.
Table of Contents
Table of Contents
9.4.1 North America
9.4.2 Europe
9.4.3 Asia Pacific
9.4.4 Latin America
9.4.5 Middle East and Africa
10 India Tyre Market Overview
10.1 Key Industry Highlights by Value
10.2 India Tyre Historical Market (2018-2023)
10.3 India Tyre Market Forecast (2024-2032)
11 India Tyre Market by Vehicle Type
11.1 Passenger Car
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Light Commercial Vehicle
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Medium and Heavy Commercial Vehicle
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Two Wheelers and Three Wheelers
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
Table of Contents
11.5 Off Road
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 India Tyre Market by Design
12.1 Radial
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Bias
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 India Tyre Market by Type
13.1 Tube
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Tubeless
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
14 India Tyre Market by Tyre Size
14.1 Small
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
Table of Contents
14.2 Medium
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
14.3 Large
14.3.1 Historical Trend (2018-2023)
14.3.2 Forecast Trend (2024-2032)
15 India Tyre Market by Price Segment
15.1 Low
15.1.1 Historical Trend (2018-2023)
15.1.2 Forecast Trend (2024-2032)
15.2 Medium
15.2.1 Historical Trend (2018-2023)
15.2.2 Forecast Trend (2024-2032)
15.3 High
15.3.1 Historical Trend (2018-2023)
15.3.2 Forecast Trend (2024-2032)
16 India Tyre Market by Distribution Channel
16.1 OEMs
16.1.1 Historical Trend (2018-2023)
16.1.2 Forecast Trend (2024-2032)
16.2 Replacement
16.2.1 Historical Trend (2018-2023)
Table of Contents
16.2.2 Forecast Trend (2024-2032)
17 India Tyre Market by Region
17.1 North Region
17.1.1 Historical Trend (2018-2023)
17.1.2 Forecast Trend (2024-2032)
17.2 East Region
17.2.1 Historical Trend (2018-2023)
17.2.2 Forecast Trend (2024-2032)
17.3 West Region
17.3.1 Historical Trend (2018-2023)
17.3.2 Forecast Trend (2024-2032)
17.4 South Region
17.4.1 Historical Trend (2018-2023)
17.4.2 Forecast Trend (2024-2032)
18 Market Dynamics
18.1 SWOT Analysis
18.1.1 Strengths
18.1.2 Weaknesses
18.1.3 Opportunities
18.1.4 Threats
18.2 Porter’s Five Forces Analysis
18.2.1 Supplier’s Power
Table of Contents
18.2.2 Buyer’s Power
18.2.3 Threat of New Entrants
18.2.4 Degree of Rivalry
18.2.5 Threat of Substitutes
18.3 Key Indicators for Demand
18.4 Key Indicators for Price
19 Value Chain Analysis
20 Trade Data Analysis (HS Code - 4011)
20.1 Major Importing Countries
20.1.1 By Volume
20.1.2 By Value
20.2 Major Exporting Countries
20.2.1 By Volume
20.2.2 By Value
21 Competitive Landscape
21.1 Market Structure
21.2 Market Share by Key Players
21.3 Company Profiles
21.3.1 MRF Limited
21.3.1.1 Company Overview
21.3.1.2 Product Portfolio
21.3.1.3 Demographic Reach and Achievements
Table of Contents
21.3.1.4 Certifications
21.3.2 Apollo Tyres Limited
21.3.2.1 Company Overview
21.3.2.2 Product Portfolio
21.3.2.3 Demographic Reach and Achievements
21.3.2.4 Certifications
21.3.3 CEAT Limited
21.3.3.1 Company Overview
21.3.3.2 Product Portfolio
21.3.3.3 Demographic Reach and Achievements
21.3.3.4 Certifications
21.3.4 Balkrishna Industries Limited
21.3.4.1 Company Overview
21.3.4.2 Product Portfolio
21.3.4.3 Demographic Reach and Achievements
21.3.4.4 Certifications
21.3.5 TVS Srichakra Limited
21.3.5.1 Company Overview
21.3.5.2 Product Portfolio
21.3.5.3 Demographic Reach and Achievements
21.3.5.4 Certifications
21.3.6 The Goodyear Tire & Rubber Company
Table of Contents
21.3.6.1 Company Overview
21.3.6.2 Product Portfolio
21.3.6.3 Demographic Reach and Achievements
21.3.6.4 Certifications
21.3.7 Bridgestone Corporation
21.3.7.1 Company Overview
21.3.7.2 Product Portfolio
21.3.7.3 Demographic Reach and Achievements
21.3.7.4 Certifications
21.3.8 Continental Tyre Group Ltd
21.3.8.1 Company Overview
21.3.8.2 Product Portfolio
21.3.8.3 Demographic Reach and Achievements
21.3.8.4 Certifications
21.3.9 Metro Tyres Limited
21.3.9.1 Company Overview
21.3.9.2 Product Portfolio
21.3.9.3 Demographic Reach and Achievements
21.3.9.4 Certifications
21.3.10 JK Tyre & Industries Ltd.
21.3.10.1 Company Overview
21.3.10.2 Product Portfolio
Table of Contents
21.3.10.3 Demographic Reach and Achievements
21.3.10.4 Certifications
22 Key Trends and Developments in the Market
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