Mar 7, 2024   SOURCE: BusinessWire

India Tyre Industry Report 2024 - ResearchAndMarkets.com

The "India Tyre Market Report by Vehicle Type, OEM and Replacement Segment, Domestic Production and Imports, Radial and Bias Tyres, Tube and Tubeless Tyres, Tyre Size, Price Segment, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.

The India tyre market size reached 196.3 Million Units in 2023 Looking forward, the market is projected to reach 253.9 Million Units by 2032, exhibiting a growth rate (CAGR) of 2.9% during 2023-2032, driven by the growing production of automobiles, inflating income levels of individuals, and rising demand for vehicles represent some of the key factors driving the market.

At present, there is a rise in the demand for tyres due to the growing production of automobiles. This, along with the increasing export activities of vehicles, such as tractors, buses, heavy trucks, and cars, represents one of the key factors supporting the growth of the market in India. Besides this, the growing sale of cars and two-wheelers on account of inflating income levels of individuals in India is offering a favorable market outlook in the country. In addition, there is an increase in the demand for vehicles in rural areas due to the lack of public transport.

This, coupled with the rising utilization of tyres in all types of vehicles, including passenger cars, buses, military vehicles, motorcycles, and trucks, is propelling the growth of the market in the country. Moreover, the reduced costs of logistics, which make Indian tyre manufacturers more competitive compared to their global peers, and enable them to export more out of the country, is strengthening the growth of the market.

Apart from this, the increasing levels of automation and renaissance in manufacturing tyres are offering lucrative growth opportunities to industry investors in India. Additionally, the Government of India is promoting the manufacturing of automobiles in the country through initiatives like Atmanirbhar Bharat Abhiyan.

Some of the companies covered include MRF Limited, CEAT Limited, JK Tyre & Industries Ltd., Apollo Tyres Ltd, etc. For each of the companies covered, the report provides business overview, services offered, business strategies, financials, SWOT analysis, and major news and events.

West and Central India was the largest market for India tyre. Some of the factors driving the West and Central India tyre market included the wide availability through online distribution channels, thriving automotive industry, rising demand for cars, etc.

Key Questions Answered in This Report

  • What is the market size of tyre industry in India?
  • What is the future growth of tyre industry in India?
  • What are the key factors driving the India tyre market?
  • What has been the impact of COVID-19 on the India tyre market?
  • What is the breakup of the India tyre market based on the vehicle type?
  • What is the breakup of the India tyre market based on the OEM and replacement segment?
  • What is the breakup of the India tyre market based on the domestic production and imports?
  • What is the breakup of the India tyre market based on the radial and bias tyres?
  • What is the breakup of the India tyre market based on the tyre size?
  • What are the key regions in the India tyre market?
  • Who is the market leader in tyres in India?

Key Attributes:

Report Attribute Details
No. of Pages 117
Forecast Period 2023 - 2032
Estimated Market Value in 2023 196.3 Million Units
Forecasted Market Value by 2032 253.9 Million Units
Compound Annual Growth Rate 2.9%
Regions Covered India

India Tyre Industry Segmentation:

Vehicle Type Insights:

The report has provided a detailed breakup and analysis of the India tyre market based on the vehicle type. This includes two wheelers, three wheelers, passenger cars, light commercial vehicles, medium and heavy commercial vehicles, and off the road. According to the report, two wheelers represented the largest segment.

OEM and Replacement Segment Insights:

A detailed breakup and analysis of the India tyre market based on the OEM and replacement segment has also been provided in the report. This includes OEM tyres and replacement tyres. According to the report, replacement tyres accounted for the largest market share.

Domestic Production and Imports Insights:

A detailed breakup and analysis of the India tyre market based on the domestic production and imports has also been provided in the report. This includes domestic production and imports. According to the report, domestic production accounted for the largest market share.

Radial and Bias Tyres Insights:

A detailed breakup and analysis of the India tyre market based on the radial and bias tyres has also been provided in the report. This includes bias tyres and radial tyres. According to the report, radial tyres accounted for the largest market share.

Tube and Tubeless Tyres Insights:

A detailed breakup and analysis of the India tyre market based on the tube and tubeless tyres has also been provided in the report. This includes tube tyres and tubeless tyres.

Tyre Size Insights:

A detailed breakup and analysis of the India tyre market based on the tyre size has also been provided in the report. This includes small, medium, and large. According to the report, small accounted for the largest market share.

Price Segment Insights:

A detailed breakup and analysis of the India tyre market based on the price segment has also been provided in the report. This includes low, medium, and high.

Competitive Landscape

  • MRF Limited
  • CEAT Limited
  • JK Tyre & Industries Ltd.
  • Apollo Tyres Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/l12fmc

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.