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The India tyre market size attained a volume of 179.16 million units in 2023. The market is projected to grow at a CAGR of 6.68% during 2024-2032 to reach a volume of 263.26 million units by 2032.
A tyre is filled with compressed air and is used in a variety of automobiles, from bicycles, motorbikes, and cars to aeroplanes, and determines the efficiency of the fuel against friction on the surface as well as maintains steering and directional control.
The surging production of automobiles is one of the major factors driving the India tyre market growth. The escalating export activities of vehicles such as tractors, buses, heavy trucks, and cars as well as the growing efforts to boost the production of automobiles by the Indian government are also prominent factors augmenting the market growth. Favourable government schemes such as Atmanirbhar Bharat Abhiyan- Self Reliant India provide an economic and compressive package of INR 51,000 crores to promote manufacturing of the automotive in the country. Moreover, the increasing ownership of vehicles due to rapid urbanisation and emergence of the middle class also aids in the market expansion.
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Rising popularity of sustainable tyre; competitive pricing of natural rubbers; emergence of 3D printed tyres in the automotive sector; and rapid innovations are the major trends impacting the market
Jun 30th 2023
JK Tyre & Industries Ltd, a leading radial tyre manufacturer, announced the completion of the first phase of the manufacturing capacity expansion in Madhya Pradesh.
Jan 11th 2024
Yokohama India, an Indian tyre manufacturer, is aiming to invest around USD 82 million in the production of passenger car tyres by 2025.
Jan 17th 2024
Apollo Tyres aims to increase the investment in digitalisation in the next two years as a strategic part of the company’s expansion plan.
Jan 20th 2024
CEAT, a leading tyre manufacturer, launched a new series of tyres called Steel Rad tyres for high-speed performance-oriented motorbikes.
Rising demand for sustainable auto parts, including tyres
The development of sustainable and eco-friendly tyre, which reduces the friction and therefore the fuel consumption, aids the market growth.
Increasing preference for high-performance tyres
The increasing awareness regarding vehicle safety among the population is driving the demand for high-performance tyres designed specifically for Indian roads.
The emergence of 3D printed tyres in the automotive sector
The development of 3D printed tyres due to the advancements in research and innovative technologies in the automotive sector boosts the market growth.
Rapid innovations in the Indian tyre market
The development of chip-in tyres, self-inflating tyres, and fossil-free tyres, along with the twin air chamber and tall and narrow design are examples of some key innovations.
One of the crucial India tyre market trends is the increased production of eco-friendly tyres to mitigate air pollutants released by standard tyres in the country, which contribute to rising air pollution levels. Natural rubber is one of the most prominent raw materials that is readily used by companies such as Continental Tyre. Recycled rubber, made from old worn-out tyres, is a sustainable option, which can prove to be a cost-effective and durable solution.
The key market players are focusing on improving their existing products and are constanly innovating their portfolios to meet the needs of the Indian roads, characterised by high traffic density. CEAT launched the steel RAD tyre series in India which guarantees a better grip for high-performance vehicles compared to standard tyres. This tyre series has two variants, Sporttrad and Crossroad; the former offers high speed whereas the latter is suitable for providing enhanced grip on the multi-terrain. This tyre range combines cutting-edge technology for improved vehicle safety as well as high performance, enhancing the driving experience of vehicle owners.
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“India Tyre Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Vehicle Type
Market Breakup by Design
Market Breakup by Type
Market Breakup by Tyre Size
Market Breakup by Price Segment
India Tyre Market Segmentation by Distribution Channel
High demand for passenger cars and the subsequenct demand for tyres from the segment contribute to the India tyre market revenue
Passenger cars occupy a significant portion of the India tyre market share as they are high in demand due to their compact size and price range, which make them suitable for average Indian families. The growing trend of owning personal transportation for increased convenience among Indian buyers further boosts the demand for passenger car tyres. Meanwhile, commercial vehicles are expected to witness sizeable growth in the coming years, owing to the rising investments towards the expansion of commecrial fleets by businesses, including e-commerce companies.
Radial tyre continues its dominance in the automotive sector due to its fuel-efficient nature
The India tyre market demand is suppported by the burgeoning popularity of radial tyres, owing to their high durability and manoeuvrability. These tyres have low fuel consumption compared to the bias tyres as they consist of rolling resistance technology, which reduces friction. Meanwhile, bias tyre is expected to continue their steady growth in the market as they are less prone to puncture due to their robustness.
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Some of the major players included in the market report are as follows:
MRF Limited
MRF, based in Tamil Nadu, India, is a multinational tyre manufacturing company. Founded in 1946, the company has established itself as one of the top 20 tyre manufacturers globally.
Apollo Tyres Limited
Apollo Tyres, headquartered in Gurgaon, India, is a leading tyre provider. The company specialises in passenger car tyre, two-wheeler tyre, and truck-bus tyre, among others.
CEAT Limited
CEAT is a multinational tyre provider, headquartered in Mumbai, India. Founded in 1924, the company offers tyres for trucks, buses, light commercial vehicles, and heavy-duty vehicles, among others.
Continental Tyre Group Limited
Continental Tyre announced in August 2022 that the company has won OE approvals for 300 EV models, which is expected to fuel its growth in the EV sector.
As the EV market rises in India, several tyre manufacturers are readily investing in the development of EV tyres that are sturdy and durable in nature. These tyres are generally composed of Nylon or other heavier material which can effectively carry the weight of batteries and vehicle components. Apollo Tyres, a primary producer of tyres in India, is also focusing on enhancing the production of EV tyres to meet the growing requirement.
As per the India tyre market analysis, North India accounts for a major market share, owing to the increasing ownership of vehicles due to the growing population, rapid urbanisation, and rising disposable income in the tier 1 and tier 2 cities. The surging demand for tyres for trucks and buses owing to rising mobility and industrialisation is also boosting the market growth.
The favourable government initiatives to improve public transportation systems, including bus services, as well as the restriction on the import of pneumatic tyres, used in station wagons, racing cars, scooters, and bicycles, among others, by the Indian government in June 2020, are aiding the production of tyres in the country. The market is also being driven by the surging production of tyres for export and domestic sales as well as reduced production costs and cheap labour rates.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Vehicle Type |
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Breakup by Design |
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Breakup by Type |
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Breakup by Tyre Size |
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Breakup by Price Segment |
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Breakup by Distribution Channel |
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Breakup by Region |
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Market Dynamics |
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Trade Data Analysis |
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Competitive Landscape |
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Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 India Automotive Market Overview
9 Global Tyre Market Overview
9.1 Key Industry Highlights
9.2 Global Tyre Historical Market (2018-2023)
9.3 Global Tyre Market Forecast (2024-2032)
9.4 Global Tyre Market Share by Region
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)
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)
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)
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
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
21.2.2 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
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 JK Tyre & Industries Ltd
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 Balkrishna Industries Limited (BKT)
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 TVS Srichakra Limited
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 The Goodyear Tire & Rubber Company.
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 Bridgestone Corporation
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 Continental Tyre Group 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 Metro Tyres Limited
21.3.10.1 Company Overview
21.3.10.2 Product Portfolio
21.3.10.3 Demographic Reach and Achievements
21.3.10.4 Certifications
21.3.11 Others
22 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Tyre Market: Key Industry Highlights, 2018 and 2032
2. India Tyre Market: Key Industry Highlights, 2018 and 2032
3. India Tyre Historical Market: Breakup by Vehicle Type (Million Units), 2018-2023
4. India Tyre Market Forecast: Breakup by Vehicle Type (Million Units), 2024-2032
5. India Tyre Historical Market: Breakup by Design (Million Units), 2018-2023
6. India Tyre Market Forecast: Breakup by Design (Million Units), 2024-2032
7. India Tyre Historical Market: Breakup by Type (Million Units), 2018-2023
8. India Tyre Market Forecast: Breakup by Type (Million Units), 2024-2032
9. India Tyre Historical Market: Breakup by Distribution Channel (Million Units), 2018-2023
10. India Tyre Market Forecast: Breakup by Distribution Channel (Million Units), 2024-2032
11. India Tyre Historical Market: Breakup by Tyre Size (Million Units), 2018-2023
12. India Tyre Market Forecast: Breakup by Tyre Size (Million Units), 2024-2032
13. India Tyre Historical Market: Breakup by Price Segment (Million Units), 2018-2023
14. India Tyre Market Forecast: Breakup by Price Segment (Million Units), 2024-2032
15. India Tyre Historical Market: Breakup by Region (Million Units), 2018-2023
16. India Tyre Market Forecast: Breakup by Region (Million Units), 2024-2032
17. Major Importing Countries by Volume
18. Major Exporting Countries by Volume
19. Major Importing Countries by Value
20. Major Exporting Countries by Value
21. India Tyre Market Structure
In 2023, the market reached volume of 179.16 million units.
The market is estimated to grow at a CAGR of 6.68% between 2024 and 2032.
The market is estimated to witness a healthy growth during 2024-2032 to reach a volume of 263.26 million units by 2032.
The market is being driven by the favourable government schemes and the surging automotive industry.
The key trends aiding the market include rising popularity of sustainable tyre, competitive pricing of natural rubbers, emergence of 3D printed tyres in the automotive sector, and rapid innovations.
The major regions in the market are North Region, East and Central Region, South Region, and West Region.
The significant vehicle types are passenger car, light commercial vehicle, medium and heavy commercial vehicle, two wheelers and three wheelers, and off road, among others.
Radial and bias are the major designs of tyre.
The major type of tyres in the market are tube tyres and tubeless tyres.
The significant distribution channels are OEMs and replacement.
The major sizes of tyre are small, medium, and large.
The significant price segments of tyre are low, medium, and high.
The major players in the market are MRF Limited, Apollo Tyres Limited, CEAT Limited, JK Tyre & Industries Ltd, Balkrishna Industries Limited (BKT), TVS Srichakra Limited, The Goodyear Tire & Rubber Company, Bridgestone Corporation, Continental Tyre Group Limited, and Metro Tyre Limited, among others.
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