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India Tyre Market: By Vehicle Type: Passenger Car, Light Commercial Vehicle, Medium and Heavy Commercial Vehicle, Others; By Design: Radial, Bias; By Type; By Distribution Channel; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics; Competitive Landscape; Industry Events and Developments

India Tyre Market Outlook

The India tyre market attained 177 million units in 2020. The market is further expected to grow in the forecast period of 2021-2026 at a CAGR of 3.6% to reach 218 million units by 2026.

 

Growth of Automotive Sector to Bolster the Tyre Industry in India

Tyres are one of the most significant parts of an automotive. They support the weight of the vehicle, absorb shock from the road surface, and change or maintain a direction. They are primarily used in the automotive industry, one of the rapidly flourishing industries in India. According to Invest India, India is expected to become the world’s third-largest automotive market by 2026. The surging production of automobiles is increasing the demand for tyres and aiding the growth of the tyre industry. The escalating export activities of vehicles such as tractors, buses, heavy trucks, and cars are also propelling the market growth. Moreover, the focus on increasing production by the Indian government and the favourable government schemes are augmenting the market growth. Government schemes such as Atmanirbhar Bharat Abhiyan- Self Reliant India provides an economic and compressive package of INR 51,000 crores to promote manufacturing of the automotive in the country, further fuelling the tyre industry.

Additionally, the flourishing car industry is driving the market growth. The growth in gross domestic products (GDP) and growing demand for cars are accelerating the market growth. India is one of the leading markets of tyre.  The increase in domestic automobile sales in the country is also propelling the market growth.  The increasing infrastructure industry is aiding the market growth. The emerging middle class with improved living standards has augmented the market for cars and two-wheelers, further facilitating the market growth. Besides, the increasing demand for vehicles in rural areas is also positively impacting the market. Moreover, the production of tyres, even in the most remote part of the country, is propelling the industry. The huge market for two-wheelers in India leads to the increasing production of tyres domestically, consequently invigorating the market growth.

 

Tyre: Industry Definition and Segmentation

A tyre is a thick circular piece of rubber that is fitted in vehicles and comes in contact with the ground. They are filled with compressed air and are used in a variety of automobiles, from bicycles to aeroplanes. Tyres determine the efficiency of the fuel against friction and maintain steering and directional control.

Based on the vehicle types, the market can be divided into:

  • Passenger Car
  • Light Commercial Vehicle
  • Medium and Heavy Commercial Vehicle
  • Two Wheelers and Three Wheelers
  • Off Road
  • Others

The market can be broadly categorised on the basis of its design into:

  • Radial
  • Bias

The major types of tyre are:

  • Tube Tyres
  • Tubeless Tyres

On the basis of the distribution channel, the market is segmented into:

  • OEM
  • Replacement

The market, on the basis of the tyre size, is classified into:

  • Small
  • Medium
  • Large

The significant price segments of the tyre industry are:

  • Low
  • Medium
  • High

The EMR report looks into the regional markets of tyre like North India, West and Central India, South India, and East India.

 

Rising Production of Automobiles to Aid the Market Growth

The Indian tyre industry is being driven by the surging production of tyres for export and domestic sales. Moreover, the increasing ownership of vehicles due to rapid urbanisation and the emergence of the middle class aids the tyre industry. Additionally, the surging demand for tyres for trucks and buses owing to the rising mobility and industrialisation is also boosting the market growth. The government initiative to provide INR 18,000 crores to augment the public bus transport service is expected to augment the market growth. Besides, the imposition on the restriction of import of pneumatic tyres, used in station wagons, racing cars, scooters, and bicycles, among others, by the Indian government in June 2020 is also aiding the production of tyres in the country, further bolstering the market. The reduced production cost and the cheap labour rates in the production of tyres are invigorating the market growth. Further, the availability of natural rubbers and other raw materials at internationally competitive prices is supporting the market growth.

The rising construction industry due to overpopulation and urbanisation is accelerating the demand for construction vehicles, which is further propelling the market growth. Additionally, the development of a tubeless tyre that does not require a separate air tube inside it and improves the performance of the vehicle by improving the manoeuvrability and handling is propelling the market growth. Research and development (R&D) and the launch of advanced and eco-friendly tyres also aid the market growth for tyres. The development of renewable and 3-D printed tyres due to the advancing research in sustainable mobility lubricates the market growth. Other developments such as the automatic sealing of punctures and reduction of the interior vehicle noise will further catalyse the market growth in the forecast period. The development of sustainable and eco-friendly tyre aids the market growth. Future advancements like the development of chip-in tyre, self-inflating tyre, and fossil-free tyre, along with the twin air chamber and tall and narrow design are expected to further invigorate the market for tyre.

 

Key Industry Players in the India Tyre Market

The report presents a detailed analysis of the following key players in the India tyre market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • The Goodyear Tyre & Rubber Company
  • Bridgestone Corporation
  • Apollo Tyres Limited
  • CEAT Limited
  • JK Tyre & Industries Ltd
  • MRF Limited
  • Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual 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    Snapshot
    6.1    India
7    Industry Opportunities and Challenges
8    India Tyre Market Analysis

    8.1    Key Industry Highlights
    8.2    India Tyre Historical Market (2016-2020) 
    8.3    India Tyre Market Forecast (2021-2026)
    8.4    India Tyre Market by Vehicle Type
        8.4.1    Passenger Car
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
        8.4.2    Light Commercial Vehicle
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
        8.4.3    Medium and Heavy Commercial Vehicle
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2016-2020)
            8.4.3.3    Forecast Trend (2021-2026)
        8.4.4    Two Wheelers and Three Wheelers
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2016-2020)
            8.4.4.3    Forecast Trend (2021-2026)
        8.4.5    Off Road
            8.4.5.1    Market Share
            8.4.5.2    Historical Trend (2016-2020)
            8.4.5.3    Forecast Trend (2021-2026)
        8.4.6    Others
    8.5    India Tyre Market by Design
        8.5.1    Radial
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    Bias
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
    8.6    India Tyre Market by Type
        8.6.1    Tube Tyres
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2016-2020)
            8.6.1.3    Forecast Trend (2021-2026)
        8.6.2    Tubeless Tyres
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2016-2020)
            8.6.2.3    Forecast Trend (2021-2026)
    8.7    India Tyre Market by Distribution Channel
        8.7.1    OEM
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2016-2020)
            8.7.1.3    Forecast Trend (2021-2026)
        8.7.2    Replacement
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2016-2020)
            8.7.2.3    Forecast Trend (2021-2026)
    8.8    India Tyre Market by Tyre Size
        8.8.1    Small
            8.8.1.1    Market Share
            8.8.1.2    Historical Trend (2016-2020)
            8.8.1.3    Forecast Trend (2021-2026)
        8.8.2    Medium
            8.8.2.1    Market Share
            8.8.2.2    Historical Trend (2016-2020)
            8.8.2.3    Forecast Trend (2021-2026)
        8.8.3    Large
            8.8.3.1    Market Share
            8.8.3.2    Historical Trend (2016-2020)
            8.8.3.3    Forecast Trend (2021-2026)
    8.9    India Tyre Market by Price Segment
        8.9.1    Low
            8.9.1.1    Market Share
            8.9.1.2    Historical Trend (2016-2020)
            8.9.1.3    Forecast Trend (2021-2026)
        8.9.2    Medium
            8.9.2.1    Market Share
            8.9.2.2    Historical Trend (2016-2020)
            8.9.2.3    Forecast Trend (2021-2026)
        8.9.3    High
            8.9.3.1    Market Share
            8.9.3.2    Historical Trend (2016-2020)
            8.9.3.3    Forecast Trend (2021-2026)
    8.10    India Tyre Market by Region
        8.10.1    Market Share
            8.10.1.1    North India
            8.10.1.2    West and Central India
            8.10.1.3    South India
            8.10.1.4    East India
9    Regional Analysis
    9.1    North India
        9.1.1    Historical Trend (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
    9.2    West and Central India
        9.2.1    Historical Trend (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
    9.3    South India
        9.3.1    Historical Trend (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
    9.4    East India
        9.4.1    Historical Trend (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyers Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis
12    Trade Data Analysis (HS Code - 4011)

    12.1    Major Importing Countries
        12.1.1    By Volume
        12.1.2    By Value
    12.2    Major Exporting Countries
        12.2.1    By Volume
        12.2.2    By Value
13    Competitive Landscape
    13.1    Market Structure
    13.2    Company Profiles
        13.2.1    The Goodyear Tyre & Rubber Company.
            13.2.1.1    Company Overview
            13.2.1.2    Product Portfolio
            13.2.1.3    Demographic Reach and Achievements
            13.2.1.4    Certifications
        13.2.2    Bridgestone Corporation
            13.2.2.1    Company Overview
            13.2.2.2    Product Portfolio
            13.2.2.3    Demographic Reach and Achievements
            13.2.2.4    Certifications
        13.2.3    Apollo Tyres Limited
            13.2.3.1    Company Overview
            13.2.3.2    Product Portfolio
            13.2.3.3    Demographic Reach and Achievements
            13.2.3.4    Certifications
        13.2.4    CEAT Limited
            13.2.4.1    Company Overview
            13.2.4.2    Product Portfolio
            13.2.4.3    Demographic Reach and Achievements
            13.2.4.4    Certifications
        13.2.5    JK Tyre & Industries Ltd
            13.2.5.1    Company Overview
            13.2.5.2    Product Portfolio
            13.2.5.3    Demographic Reach and Achievements
            13.2.5.4    Certifications
        13.2.6    MRF Limited
            13.2.6.1    Company Overview
            13.2.6.2    Product Portfolio
            13.2.6.3    Demographic Reach and Achievements
            13.2.6.4    Certifications
        13.2.7    Others
14    Industry Events and Developments


Additional Customisations Available

1    Manufacturing Process
    1.1    Overview
    1.2    Detailed Process Flow
    1.3    Operation Involved
2    Project Requirement and Cost Analysis
    2.1    Land, Location and Site Development
    2.2    Construction
    2.3    Plant Machinery
    2.4    Cost of Raw Material
    2.5    Packaging
    2.6    Transportation
    2.7    Utilities
    2.8    Manpower
    2.9    Other Capital Investment


List of Figures and Tables

1.    India Tyre Market: Key Industry Highlights, 2016 and 2026
2.    India Tyre Historical Market: Breakup by Vehicle Type (Million Units), 2016-2020
3.    India Tyre Market Forecast: Breakup by Vehicle Type (Million Units), 2021-2026
4.    India Tyre Historical Market: Breakup by Design (Million Units), 2016-2020
5.    India Tyre Market Forecast: Breakup by Design (Million Units), 2021-2026
6.    India Tyre Historical Market: Breakup by Type (Million Units), 2016-2020
7.    India Tyre Market Forecast: Breakup by Type (Million Units), 2021-2026
8.    India Tyre Historical Market: Breakup by Distribution Channel (Million Units), 2016-2020
9.    India Tyre Market Forecast: Breakup by Distribution Channel (Million Units), 2021-2026
10.    India Tyre Historical Market: Breakup by Tyre Size (Million Units), 2016-2020
11.    India Tyre Market Forecast: Breakup by Tyre Size (Million Units), 2021-2026
12.    India Tyre Historical Market: Breakup by Price Segment (Million Units), 2016-2020
13.    India Tyre Market Forecast: Breakup by Price Segment (Million Units), 2021-2026
14.    India Tyre Historical Market: Breakup by Region (Million Units), 2016-2020
15.    India Tyre Market Forecast: Breakup by Region (Million Units), 2021-2026
16.    Major Importing Countries by Volume (2020)
17.    Major Exporting Countries by Volume (2020)
18.    Major Importing Countries by Value (2020)
19.    Major Exporting Countries by Value (2020)
20.    India Tyre Market Structure

Key Questions Answered in the Report

In 2020, the India tyre market attained 177 million units.

The market is projected to grow at a CAGR of 3.6% between 2021 and 2026.

The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach 218 million units by 2026.

The industry is being driven by the favourable government schemes and the surging automotive industry.

The market is expected to be defined by the increasing demand for vehicles and the development of sustainable tyres over the forecast period.

The major regions in the industry are North India, West and Central India, South India, and East India.

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 industry are tube tyres and tubeless tyres.

The distribution channel segment is led by OEM 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 industry are The Goodyear Tyre & Rubber Company, Bridgestone Corporation, Apollo Tyres Limited, CEAT Limited, JK Tyre & Industries Ltd, and MRF Limited, among others.

Analyst Review

The India tyre market attained 177 million units in 2020, driven by the surging automotive industry. Aided by the growing production of tyres, the market is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 3.6%. The market is projected to reach 218 million units by 2026.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its vehicle types, the tyre industry can be segmented into passenger car, light commercial vehicle, medium and heavy commercial vehicle, two wheelers and three wheelers, and off road, among others. On the basis of design, tyres are segmented into radial and bias. The major types of tyres are tube tyres and tubeless tyres. On the basis of distribution channels, the industry is divided into OEM and replacement. Based on the tyre size, the industry is divided into small, medium, and large. The major price segments of the tyre industry are low, medium, and high. The major regional markets for tyres are North India, West and Central India, South India, and East India. The key players in the above market include The Goodyear Tyre & Rubber Company, Bridgestone Corporation, Apollo Tyres Limited, CEAT Limited, JK Tyre & Industries Ltd, and MRF Limited, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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