India Tire (Tyre) Market Research Report, 2027

The increasing production of automobiles is gradually increasing the demand for tyres. The increase in export activities of vehicles like trucks, buses and cars, are also impacting on the market growth. Moreover, the government schemes like Atmanirbhar Bharat Abhiyan, this provides an economic and compressive package of INR 51,000 crores for promoting the automobile manufacturing industry in India. Hence because of the same reason the tyres are propelling the market growth.

The tyre market can be broadly categorised on the basis of designs such as radial and bias tyres. The Radial tyres have the steel belts that run at 90-dgree angle with the tread line. This allows the sidewall and tread of the tyre function independently. However, there is also a low sidewall flex and at the same time there is more contact with the ground. With the radial construction of the ply cords radiate out from the centre of the tyre. The bias tyres are made of rubber-coated layers, plies of fabric like nylon. The plies are placed at the angles of approx. 30 to 40 degrees, with the plies laid in opposite angles forming a crisscross pattern to which the tread is applied. This provides a smooth ride specially on rough surfaces, with comfort.

According to the research report published by Actual Market Research (ActualMR) titled as “India Tire (Tyre) Market Research Report, 2027". India is expected to grow with more than 8.0% CAGR by the end of the forecasted period. It has been observed that in India people mostly prefer two-wheelers as compared to commercial heavy and light weight vehicles and passenger cars. However, the two-wheelers are growing with the grow CAGR in the present market.

OEM tyres are especially specified by the vehicle manufacturer and they are fitted when the vehicle is new. Replacement tyres are those tyres which are purchased to replace the OEM tyres. The replacement tyres are known as aftermarket tyres. The CAGR of OEM tyres was low in the past year, and during the forecasted period it is expected to grow gradually. A radial tyre is a particular design of vehicular tire. In this design, the cord plies are arranged at 90 degrees to the direction of travel. A bias tyre is made of layers of rubber-coated fabric placed at angles of approximately 30–40 degrees, with successive plies laid at opposing angles forming a crisscross pattern to which the tread is applied. In past years, the market attractiveness of the radial tyre was low because it is more expensive and has poor transport handling. It is expected that the market attractiveness of radial tyres will grow constantly by 2027.

Commercial-lightweight tyres usually consist of industrial rib tyres, light truck tyres, and well-designed super lug tyres. This type of tyre is more suitable for long distances. Passenger car tyres are designed mainly for ride comfort, traction, handling, and wear life, as well as appearance and affordability. Commercial-heavy tyres are used for construction vehicles, agricultural and forestry equipment, and other applications that take place on soft terrain. Two-wheeler and three-wheeler tyres vary according to the shape and size of the vehicles, and they provide better traction on the road surface. The market for passenger car tyres was high in the past year, and it is expected that it will have vigorous growth during the forecasted period. Technological development in manufacturing and the high demand for automobiles drive the tyre market, while the development of the retreading business and the expensive pricing of raw materials are an obstacle to the growth of the tyre market in India .

Key Market Trends
Tyres is one of the most important parts for any vehicle, whether it is a bicycle or a car, or a truck or bus and other vehicles. The tyres play an important role in ensuring the vehicle is safe to be driven and they have the direct link to the quality of the consumer’s ride and also safety in general. Nowadays because of so many safety requirements by the consumers, the leading manufacturers are trying manufacture the best tyres with all the safety measures keeping in mind. The new innovative tyres ensure maximum safety and comfort for the riders and this can further result to less accidents.

Considered in this report
Historic Year: 2016
Base year: 2021
Estimated year: 2022
Forecast year: 2027

Aspects covered in this report
India tire (tyre) industry Market with its value and forecast along with its segments
Application-wise tire (tyre) industry distribution
Various drivers and challenges
On-going trends and developments
Top profiled companies
Strategic recommendation

Based on market share:
By End-use
By Vehicle type
By design type

Based on By End-use types:
By original equipment manufacturer (OEM)
By Replacement type

Based on By vehicle types:
Passenger cars
Commercial light-weight
Commercial heavy-weight
Two-wheelers
Three-wheelers
Other types

Based on By Design types:
Radial
Bias tire (tyre)

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual reports of companies, analysis the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have to start verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry manufacturers, consultants, and Key vendors related to Tire (tyre) industry. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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