The India Tire Market is poised for substantial growth over the next several years, projected to increase from approximately USD 11.98 billion in 2024 to an estimated USD 21.27 billion by 2030, with a Compound Annual Growth Rate (CAGR) of around 12.17%. This growth trajectory marks the India Tire Market as one of the most promising segments in the automotive industry, driven by increasing vehicle production and robust economic development.
Scope of the India Tire Market Report
This comprehensive market research report provides an in-depth analysis of the India Tire Market, focusing on trends, growth drivers, market challenges, and competitive landscape. Key segments include insights into different types of tires, vehicle types, demand categories, sales channels, and geographic distributions. Additionally, this report outlines strategies for businesses to navigate the evolving market landscape, along with relevant import/export statistics and pricing evaluations.
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Market Segmentation of the India Tire Market
By Vehicle Type:
- Two Wheelers
- Three Wheelers
- Passenger Cars
- Light Commercial Vehicles (LCVs)
- Medium & Heavy Commercial Vehicles
- Off the Road (OTR) Vehicles
Among these, two-wheelers are anticipated to dominate the India Tire Market due to their affordability, versatility, and high demand among middle- and lower-middle-class populations across the country.
By Demand Category:
- OEM (Original Equipment Manufacturer)
- Aftermarket
By Type of Tire:
- Radial
- Bias
By Sales Channel:
- Dealer/Distributor
- Online Retail
- Other Channels
By Price Category:
- Low (up to USD 90)
- Medium (USD 91 to USD 140)
- High (above USD 140)
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Regional Insights in the India Tire Market
- East India
- West India
- North India
- South India
Key Players in the India Tire Market
Leading companies in the India Tire Market include:
- MRF
- Apollo Tyres
- CEAT
- JK Tyres
- Birla Tyres
- Balakrishna Tires
- Bridgestone
- TVS Srichakra
- Continental
- Goodyear
These leading manufacturers are continuously innovating and expanding their production capacities to capture a larger market share, responding to consumer demands and evolving trends.
Frequently Asked Questions About the India Tire Market
- What will be the growth rate of the India Tire Market during the forecast period (2025-2030)?
- Which tire type is expected to dominate the India Tire Market?
- How is the demand for eco-friendly tires affecting the India Tire Market landscape?
- What roles do government policies play in shaping the India Tire Market?
- Which regions are expected to witness the highest growth in the India Tire Market?
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