India Tire Market By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, Two Wheelers, Three Wheelers, OTR), By Demand Category (OEM, & Aftermarket), By Tire Construction Type (Radial, Bias), By Region (North, South, East, West), By Company (2022), Competition, Forecast & Opportunities, 2018- 2028
The India Tire Market is anticipated to register at a robust CAGR in terms of value during the forecast period. The estimated growth of the India tire market is propelled by the increasing vehicle sales in the country and rich resources of raw material present in the country. Moreover, many tire manufacturers are establishing their production plants in the country because of the robust government initiatives and policies and availability of skilled labor. Moreover, with the rising disposal income, the Indian peoples are buying premium cars. Thus, the demand for advanced and premium quality tires is increasing which is further expected to drive the growth of the India Tire market during the forecast period. The India’s tire market based on vehicle type is segmented into two-wheeler, passenger car, light commercial vehicle and medium and heavy commercial vehicle, two-wheeler, three-wheeler, and OTR.
Rising Sales of Vehicle
The estimated growth of the India tire market is buoyed by the growth of the automobile industry, i.e., the increase in the ownership of vehicles, increasing innovation in the Indian tire industry; technology-driven production facilities, expanding working population, and a continuous focus on more sustainable products. Moreover, the rising awareness of the environment and quality standards is leading to better product value, which is further anticipated to aid the growth of the India tire industry over the forecast years.
Advancement in Tire Technology
Tire manufacturers are adopting new technologies to reduce costs by automating the process, and by implementing robotics, IOT, and machine learning they are enhancing their efficiency. Technologies such as QuietTred Technology help tire manufacturers to minimize the tire noise and at the same time also helps in reducing vibrations by using noise dampening tread design and optimizes the cavity design as well. All these technologies will have a huge scope in future because of the demand of new tires across India. Efforts have also been underway to deliver flexible technology alternatives for the enhancement of the supply chain across India. With the safety being a key concern with vertical transport, robust research is being conducted by the tire companies to make process safer and more efficient.
Use of Sustainable Raw Materials for Tire Manufacturing
The companies in the India Tire Market have been making substantial efforts toward achieving sustainability in their processes, products, and services by implementing changes in their operations. The companies have also started using sustainable raw materials for tire manufacturing like use of vegetable byproducts such as soyabean oil in place of petroleum oils. This is resulting in improving manufacturing efficiency and reducing energy consumption. Similarly, the companies are also working on increasing the fuel efficiency of the vehicles by adding innovations to the radial tires. Many of the tire production facilities are working on net zero carbon emission plans by introducing renewable energy sources. For example, Bridgestone has set a goal for net zero emission by 2050.
Developments in Rubber Products
Developments in recycling of end-of-life tires and other rubber-based industrial products is making new alternative for the scrap tires like many key tire players are now using recycled raw material micronized rubber powders (MRP) which has high-performance, long-lasting, low-cost material figures. Similarly, the average lifespan of a vehicle was significantly lower than it is today, this leads to more miles and overall it is acting as one of the driver that is influencing the tire market growth in India, whereas more advanced electric vehicles will have comparatively higher life expectancy, so as the technological advancements in the auto sector continues to grow, average life of the vehicles will also go up, thereby driving the growth of the India tire market.
Market Segmentation
The India Tire Market is segmented on the basis of vehicle type, demand category, tire construction type, by region. Based on vehicle type, the market is further divided into passenger car, light commercial vehicle, medium & heavy commercial vehicle, two wheelers, three wheelers and OTR. Based on the demand category segment the market is further segmented into OEM and aftermarket. Based on tire construction type the market is further bifurcated into radial and bias. On the basis of region, the market is divided into North, South, East, and West.
Company Profiles
Some of the major players which are operating in India Tire Market are CEAT Limited, JK Tyre & Industries Ltd, Bridgestone India Private Limited, Birla Tyres Limited, Goodyear India Limited, TVS Srichakra Limited, Apollo Tyres Ltd., Continental India Limited, Balkrishna Industries Limited, and Michelin India Private Limited.
Report Scope:
In this report, India Tire Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
Rising Sales of Vehicle
The estimated growth of the India tire market is buoyed by the growth of the automobile industry, i.e., the increase in the ownership of vehicles, increasing innovation in the Indian tire industry; technology-driven production facilities, expanding working population, and a continuous focus on more sustainable products. Moreover, the rising awareness of the environment and quality standards is leading to better product value, which is further anticipated to aid the growth of the India tire industry over the forecast years.
Advancement in Tire Technology
Tire manufacturers are adopting new technologies to reduce costs by automating the process, and by implementing robotics, IOT, and machine learning they are enhancing their efficiency. Technologies such as QuietTred Technology help tire manufacturers to minimize the tire noise and at the same time also helps in reducing vibrations by using noise dampening tread design and optimizes the cavity design as well. All these technologies will have a huge scope in future because of the demand of new tires across India. Efforts have also been underway to deliver flexible technology alternatives for the enhancement of the supply chain across India. With the safety being a key concern with vertical transport, robust research is being conducted by the tire companies to make process safer and more efficient.
Use of Sustainable Raw Materials for Tire Manufacturing
The companies in the India Tire Market have been making substantial efforts toward achieving sustainability in their processes, products, and services by implementing changes in their operations. The companies have also started using sustainable raw materials for tire manufacturing like use of vegetable byproducts such as soyabean oil in place of petroleum oils. This is resulting in improving manufacturing efficiency and reducing energy consumption. Similarly, the companies are also working on increasing the fuel efficiency of the vehicles by adding innovations to the radial tires. Many of the tire production facilities are working on net zero carbon emission plans by introducing renewable energy sources. For example, Bridgestone has set a goal for net zero emission by 2050.
Developments in Rubber Products
Developments in recycling of end-of-life tires and other rubber-based industrial products is making new alternative for the scrap tires like many key tire players are now using recycled raw material micronized rubber powders (MRP) which has high-performance, long-lasting, low-cost material figures. Similarly, the average lifespan of a vehicle was significantly lower than it is today, this leads to more miles and overall it is acting as one of the driver that is influencing the tire market growth in India, whereas more advanced electric vehicles will have comparatively higher life expectancy, so as the technological advancements in the auto sector continues to grow, average life of the vehicles will also go up, thereby driving the growth of the India tire market.
Market Segmentation
The India Tire Market is segmented on the basis of vehicle type, demand category, tire construction type, by region. Based on vehicle type, the market is further divided into passenger car, light commercial vehicle, medium & heavy commercial vehicle, two wheelers, three wheelers and OTR. Based on the demand category segment the market is further segmented into OEM and aftermarket. Based on tire construction type the market is further bifurcated into radial and bias. On the basis of region, the market is divided into North, South, East, and West.
Company Profiles
Some of the major players which are operating in India Tire Market are CEAT Limited, JK Tyre & Industries Ltd, Bridgestone India Private Limited, Birla Tyres Limited, Goodyear India Limited, TVS Srichakra Limited, Apollo Tyres Ltd., Continental India Limited, Balkrishna Industries Limited, and Michelin India Private Limited.
Report Scope:
In this report, India Tire Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- India Tire Market, By Vehicle Type:
- Passenger Cars
- Light Commercial Vehicle
- Medium & Heavy Commercial Vehicle
- Two Wheelers
- Three Wheelers
- OTR
- India Tire Market, By Demand Category:
- OEM
- Aftermarket
- India Tire Market, By Tire Construction Type:
- Radial
- Bias
- India Tire Market, By Region:
- North
- South
- East
- West
- Competitive Landscape
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
1. INTRODUCTION
1.1. Market Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered
2. RESEARCH METHODOLOGY
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. EXECUTIVE SUMMARY
3.1. Market Overview
3.2. Market Forecast
3.3. Key Regions
3.4. Key Segments
4. IMPACT OF COVID-19 ON INDIA TIRE MARKET
4.1. Impact Assessment Model
4.1.1. Key Segments Impacted
4.1.2. Key Regions Impacted
5. VOICE OF CUSTOMER
5.1. Factors Influencing Purchase Decision
5.2. Brand Awareness
5.3. Challenges & Unmet Needs
6. INDIA TIRE MARKET OUTLOOK, 2018-2028
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Vehicle Type Market Share Analysis (Passenger Cars, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, Two-Wheelers, Three-Wheelers and OTR)
6.2.2. By Demand Category Market Share Analysis (OEM, & Aftermarket)
6.2.3. By Tire Construction Type Market Share Analysis (Radial, Bias)
6.2.4. By Regional Market Share Analysis
6.2.4.1. North Market Share Analysis
6.2.4.2. South Market Share Analysis
6.2.4.3. East Market Share Analysis
6.2.4.4. West Market Share Analysis
6.2.5. By Company Market Share Analysis (Top 5 Companies, Others - By Value, 2022)
6.3. India Tire Market Mapping and Opportunities Assessment
6.3.1. By Vehicle Type Market Mapping & Opportunity Assessment
6.3.2. By Demand Category Market Mapping & Opportunity Assessment
6.3.3. By Tire Construction Type Market Mapping & Opportunity Assessment
6.3.4. By Regional Market Mapping & Opportunity Assessment
7. INDIA PASSENGER CAR TIRE MARKET OUTLOOK
7.1. Market Size & Forecast
7.1.1. By Volume and Value
7.2. Market Share & Forecast
7.2.1. By Demand Category Market Share Analysis
7.2.2. By Tire Construction Type Market Share Analysis
8. INDIA LIGHT COMMERCIAL VEHICLE TIRE MARKET OUTLOOK
8.1. Market Size & Forecast
8.1.1. By Volume and Value
8.2. Market Share & Forecast
8.2.1. By Demand Category Market Share Analysis
8.2.2. By Tire Construction Type Market Share Analysis
9. INDIA MEDIUM & HEAVY COMMERCIAL VEHICLE TIRE MARKET OUTLOOK
9.1. Market Size & Forecast
9.1.1. By Volume and Value
9.2. Market Share & Forecast
9.2.1. By Demand Category Market Share Analysis
9.2.2. By Tire Construction Type Market Share Analysis
10. INDIA TWO-WHEELER TIRE MARKET OUTLOOK
10.1. Market Size & Forecast
10.1.1. By Volume and Value
10.2. Market Share & Forecast
10.2.1. By Demand Category Market Share Analysis
10.2.2. By Tire Construction Type Market Share Analysis
11. INDIA THREE-WHEELER TIRE MARKET OUTLOOK
11.1. Market Size & Forecast
11.1.1. By Volume and Value
11.2. Market Share & Forecast
11.2.1. By Demand Category Market Share Analysis
11.2.2. By Tire Construction Type Market Share Analysis
12. INDIA OTR TIRE MARKET OUTLOOK
12.1. Market Size & Forecast
12.1.1. By Volume and Value
12.2. Market Share & Forecast
12.2.1. By Demand Category Market Share Analysis
12.2.2. By Tire Construction Type Market Share Analysis
13. MARKET DYNAMICS
13.1. Market Drivers
13.2. Market Challenges
14. MARKET TRENDS & DEVELOPMENTS
15. PORTER’S FIVE FORCES MODEL
15.1. Competitive Rivalry
15.2. Bargaining Powers of Suppliers
15.3. Bargaining Powers of Buyers
15.4. Threat of New Entrants
15.5. Threat of Substitutes
16. POLICY & REGULATORY LANDSCAPE
17. SUPPLY CHAIN ANALYSIS
18. INDIA ECONOMIC PROFILE
19. COMPETITIVE LANDSCAPE
19.1. Company Profiles (Up To 10 Major Companies)
19.1.1. CEAT Limited.
19.1.1.1. Company Details
19.1.1.2. Products & Services
19.1.1.3. Recent Development
19.1.1.4. Key Management Personnel
19.1.2. JK Tyre & Industries Ltd
19.1.2.1. Company Details
19.1.2.2. Products & Services
19.1.2.3. Recent Development
19.1.2.4. Key Management Personnel
19.1.3. Bridgestone India Private Limited
19.1.3.1. Company Details
19.1.3.2. Products & Services
19.1.3.3. Recent Development
19.1.3.4. Key Management Personnel
19.1.4. Birla Tyres Limited
19.1.4.1. Company Details
19.1.4.2. Products & Services
19.1.4.3. Recent Development
19.1.4.4. Key Management Personnel
19.1.5. Goodyear India Limited
19.1.5.1. Company Details
19.1.5.2. Products & Services
19.1.5.3. Recent Development
19.1.5.4. Key Management Personnel
19.1.6. TVS Srichakra Limited.
19.1.6.1. Company Details
19.1.6.2. Products & Services
19.1.6.3. Recent Development
19.1.6.4. Key Management Personnel
19.1.7. Apollo Tyres Ltd
19.1.7.1. Company Details
19.1.7.2. Products & Services
19.1.7.3. Recent Development
19.1.7.4. Key Management Personnel
19.1.8. Continental India Limited
19.1.8.1. Company Details
19.1.8.2. Products & Services
19.1.8.3. Recent Development
19.1.8.4. Key Management Personnel
19.1.9. Balkrishna Industries Limited
19.1.9.1. Company Details
19.1.9.2. Products & Services
19.1.9.3. Recent Development
19.1.9.4. Key Management Personnel
19.1.10. Michelin India Private Limited
19.1.10.1. Company Details
19.1.10.2. Products & Services
19.1.10.3. Recent Development
19.1.10.4. Key Management Personnel
20. STRATEGIC RECOMMENDATIONS/ACTION PLAN
20.1. Key Focus Areas
20.2. Target Regions
20.3. Target Vehicle Type
21. ABOUT US & DISCLAIMER
1.1. Market Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered
2. RESEARCH METHODOLOGY
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. EXECUTIVE SUMMARY
3.1. Market Overview
3.2. Market Forecast
3.3. Key Regions
3.4. Key Segments
4. IMPACT OF COVID-19 ON INDIA TIRE MARKET
4.1. Impact Assessment Model
4.1.1. Key Segments Impacted
4.1.2. Key Regions Impacted
5. VOICE OF CUSTOMER
5.1. Factors Influencing Purchase Decision
5.2. Brand Awareness
5.3. Challenges & Unmet Needs
6. INDIA TIRE MARKET OUTLOOK, 2018-2028
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Vehicle Type Market Share Analysis (Passenger Cars, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, Two-Wheelers, Three-Wheelers and OTR)
6.2.2. By Demand Category Market Share Analysis (OEM, & Aftermarket)
6.2.3. By Tire Construction Type Market Share Analysis (Radial, Bias)
6.2.4. By Regional Market Share Analysis
6.2.4.1. North Market Share Analysis
6.2.4.2. South Market Share Analysis
6.2.4.3. East Market Share Analysis
6.2.4.4. West Market Share Analysis
6.2.5. By Company Market Share Analysis (Top 5 Companies, Others - By Value, 2022)
6.3. India Tire Market Mapping and Opportunities Assessment
6.3.1. By Vehicle Type Market Mapping & Opportunity Assessment
6.3.2. By Demand Category Market Mapping & Opportunity Assessment
6.3.3. By Tire Construction Type Market Mapping & Opportunity Assessment
6.3.4. By Regional Market Mapping & Opportunity Assessment
7. INDIA PASSENGER CAR TIRE MARKET OUTLOOK
7.1. Market Size & Forecast
7.1.1. By Volume and Value
7.2. Market Share & Forecast
7.2.1. By Demand Category Market Share Analysis
7.2.2. By Tire Construction Type Market Share Analysis
8. INDIA LIGHT COMMERCIAL VEHICLE TIRE MARKET OUTLOOK
8.1. Market Size & Forecast
8.1.1. By Volume and Value
8.2. Market Share & Forecast
8.2.1. By Demand Category Market Share Analysis
8.2.2. By Tire Construction Type Market Share Analysis
9. INDIA MEDIUM & HEAVY COMMERCIAL VEHICLE TIRE MARKET OUTLOOK
9.1. Market Size & Forecast
9.1.1. By Volume and Value
9.2. Market Share & Forecast
9.2.1. By Demand Category Market Share Analysis
9.2.2. By Tire Construction Type Market Share Analysis
10. INDIA TWO-WHEELER TIRE MARKET OUTLOOK
10.1. Market Size & Forecast
10.1.1. By Volume and Value
10.2. Market Share & Forecast
10.2.1. By Demand Category Market Share Analysis
10.2.2. By Tire Construction Type Market Share Analysis
11. INDIA THREE-WHEELER TIRE MARKET OUTLOOK
11.1. Market Size & Forecast
11.1.1. By Volume and Value
11.2. Market Share & Forecast
11.2.1. By Demand Category Market Share Analysis
11.2.2. By Tire Construction Type Market Share Analysis
12. INDIA OTR TIRE MARKET OUTLOOK
12.1. Market Size & Forecast
12.1.1. By Volume and Value
12.2. Market Share & Forecast
12.2.1. By Demand Category Market Share Analysis
12.2.2. By Tire Construction Type Market Share Analysis
13. MARKET DYNAMICS
13.1. Market Drivers
13.2. Market Challenges
14. MARKET TRENDS & DEVELOPMENTS
15. PORTER’S FIVE FORCES MODEL
15.1. Competitive Rivalry
15.2. Bargaining Powers of Suppliers
15.3. Bargaining Powers of Buyers
15.4. Threat of New Entrants
15.5. Threat of Substitutes
16. POLICY & REGULATORY LANDSCAPE
17. SUPPLY CHAIN ANALYSIS
18. INDIA ECONOMIC PROFILE
19. COMPETITIVE LANDSCAPE
19.1. Company Profiles (Up To 10 Major Companies)
19.1.1. CEAT Limited.
19.1.1.1. Company Details
19.1.1.2. Products & Services
19.1.1.3. Recent Development
19.1.1.4. Key Management Personnel
19.1.2. JK Tyre & Industries Ltd
19.1.2.1. Company Details
19.1.2.2. Products & Services
19.1.2.3. Recent Development
19.1.2.4. Key Management Personnel
19.1.3. Bridgestone India Private Limited
19.1.3.1. Company Details
19.1.3.2. Products & Services
19.1.3.3. Recent Development
19.1.3.4. Key Management Personnel
19.1.4. Birla Tyres Limited
19.1.4.1. Company Details
19.1.4.2. Products & Services
19.1.4.3. Recent Development
19.1.4.4. Key Management Personnel
19.1.5. Goodyear India Limited
19.1.5.1. Company Details
19.1.5.2. Products & Services
19.1.5.3. Recent Development
19.1.5.4. Key Management Personnel
19.1.6. TVS Srichakra Limited.
19.1.6.1. Company Details
19.1.6.2. Products & Services
19.1.6.3. Recent Development
19.1.6.4. Key Management Personnel
19.1.7. Apollo Tyres Ltd
19.1.7.1. Company Details
19.1.7.2. Products & Services
19.1.7.3. Recent Development
19.1.7.4. Key Management Personnel
19.1.8. Continental India Limited
19.1.8.1. Company Details
19.1.8.2. Products & Services
19.1.8.3. Recent Development
19.1.8.4. Key Management Personnel
19.1.9. Balkrishna Industries Limited
19.1.9.1. Company Details
19.1.9.2. Products & Services
19.1.9.3. Recent Development
19.1.9.4. Key Management Personnel
19.1.10. Michelin India Private Limited
19.1.10.1. Company Details
19.1.10.2. Products & Services
19.1.10.3. Recent Development
19.1.10.4. Key Management Personnel
20. STRATEGIC RECOMMENDATIONS/ACTION PLAN
20.1. Key Focus Areas
20.2. Target Regions
20.3. Target Vehicle Type
21. ABOUT US & DISCLAIMER
