India Tyre Market: Global Industry Trends, Size, Growth, Opportunity and Forecast 2022-2027

 According to the latest report by IMARC Group, titled "India Tyre Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the India tyre market size reached 182 Million Units in 2021. On account of the aforementioned factors, the market is expected to reach a volume of 221.8 Million Units by 2027, growing at a CAGR of 3.59% during 2022-2027.

A tyre refers to the ring-shaped vehicle component that covers the rim of a wheel externally. It is most commonly made from steel, wire, rayon, silica, carbon black, natural rubber and synthetic rubber. It is pneumatically inflated to protect the wheel rim and provide tractive force between the vehicle and the surface of the road. It is essential for transferring the load of the vehicle on the road and offering an excellent gripping surface. It acts as a flexible cushion for the wheels, which assists in absorbing shock and minimizing the impact of vibrations of the moving vehicle. Consequently, tyres play a crucial role in improving road feel and enhancing the overall performance of the vehicles.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Global India Tyre Market Trends and Drivers:

The market is primarily driven by a significant increase in vehicle production in India. Population explosion, increasing middle-class population and the inflating disposable income levels have facilitated the uptake of automobiles in the country, which is providing a thrust to the market growth. There has also been a considerable increase in the passenger and public transport vehicle fleets in India. This, along with improvements in road infrastructure and the growing demand for high-quality tyres with enhanced durability and reliability, is acting as a major growth-inducing factor. Moreover, automobile tyres with improved sidewall puncture resistance and high-design cushion for minimizing road-shock are gaining widespread preference among the masses. The market is further driven by the growing popularity of electric vehicles (EVs) in India, supported by the increasing environmental consciousness and an enhanced focus on reducing vehicular pollution levels. Furthermore, the introduction of ecological tyres and the expanding manufacturing capabilities of leading players are anticipated to create a positive outlook for the market. 

India Tyre Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

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

Key Market Segmentation:

The report has segmented the  India tyre market on the basis of vehicle type, OEM and replacement segment, domestic production and imports, radial and bias tyres, tube and tubeless tyres, tyre size, price segment and region.

Breakup by Vehicle Type:

• Two Wheelers
• Three Wheelers
• Passenger Cars
• Light Commercial Vehicles
• Medium and Heavy Commercial Vehicles
• Off the Road

Breakup by OEM and Replacement Segment:

• OEM Tyres
• Replacement Tyres

Breakup by Domestic Production and Imports:

• Domestic Production
• Imports 

Breakup by Radial and Bias Tyres:

• Bias Tyres
• Radial Tyres 

Breakup by Tube and Tubeless Tyres:

• Tube Tyres
• Tubeless Tyres 

Breakup by Tyre Size:

• Small
• Medium
• Large 

Breakup by Price Segment:

• Low
• Medium
• High

Breakup by Region:

• North India
• East India
• West and Central India
• South India

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Key Highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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