India Tyre Market 2030 Growth Insights | Size, Share & Future Trends Report

According to the TechSci Research report, " India Tyre Market- By Region, Competition, Forecast & Opportunities, 2020-2030F," India Tyre Market was valued at USD 12.84 Billion in 2024 and is expected to reach USD 29.16 Billion by 2030 with a CAGR of 8.21% during the forecast period. 

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This meteoric rise is not by chance—it reflects a convergence of factors including the exponential growth in vehicle ownership, extensive infrastructure expansion, the rise of e-commerce-driven logistics, and an evolving regulatory environment that champions sustainability and safety. The shift towards radial tyre technology, coupled with growing consumer awareness about vehicle performance, fuel efficiency, and tyre safety, is reshaping product demand across India.

Furthermore, major players in the industry are investing heavily in research and development, exploring next-generation materials, automation, and AI-driven predictive maintenance solutions. All these are not just signs of a growing market—they are signals of a sector in evolution, adapting swiftly to meet the future of mobility.

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The Indian tyre industry is a cornerstone of the nation’s booming automotive and transportation sectors. It services a diverse spectrum of vehicle types, from compact two-wheelers and high-performance passenger cars to heavy-duty trucks and off-the-road (OTR) construction vehicles. The surging demand for tyres across these categories stems from a growing economy, rising urbanization, and enhanced consumer purchasing power.

The market structure is segmented across key parameters including vehicle type, demand category (OEM vs Replacement), tyre construction type (radial vs bias), and regional demand. Among these, the OEM segment has emerged as a dominant force, driven by rising automobile production and strong collaboration between vehicle manufacturers and tyre companies to ensure premium quality and performance.

Furthermore, consumers are increasingly inclined toward advanced, fuel-efficient tyres that deliver superior mileage, durability, and on-road safety. Radial tyres, which have better performance metrics than traditional bias-ply tyres, are gaining favor among both commercial and passenger vehicle owners.

One of the most prominent trends reshaping the tyre industry is the adoption of eco-friendly solutions. With global awareness of climate change growing rapidly, Indian consumers and regulators are now demanding tyres with a reduced environmental footprint. Manufacturers are responding with tyres made from renewable materials, recyclable compounds, and low-emission production technologies. Additionally, initiatives around retreading and recycling of tyres are gaining traction.

The rise of the connected vehicle ecosystem is spilling over into the tyre industry. Smart tyres, embedded with sensors that monitor pressure, temperature, and tread wear, are becoming a reality in India. These data-enabled tyres offer improved vehicle safety, longer lifespan, and predictive maintenance—reducing downtime and improving overall fleet performance. While still in its nascent stage, this trend is expected to shape the premium and commercial vehicle tyre segments significantly by 2030.

The EV revolution is rewriting tyre specifications. Electric vehicles exert different torque and wear patterns on tyres, which require specially designed treads, improved load-bearing capabilities, and noise reduction features. Tyre makers in India are investing in specialized EV-compatible tyres, offering both performance and energy efficiency.

With global supply chain vulnerabilities highlighted during recent geopolitical disruptions and the pandemic, Indian tyre companies are doubling down on local production capacity. This localization effort is not only reducing dependency on imports but also creating more jobs and enhancing product customization based on regional needs.

India’s growing middle-class population, coupled with increasing disposable income, is translating into a surge in vehicle ownership. From two-wheelers to four-wheelers and commercial trucks, the entire automotive ecosystem is expanding rapidly. This trend is fueling demand for both OEM and replacement tyres.

Massive infrastructure projects like Bharatmala, Sagarmala, and the construction of expressways and rural roads are placing unprecedented demands on tyres built for long-haul durability and performance. This has also boosted demand for OTR and heavy-duty commercial vehicle tyres.

The replacement segment is gaining momentum due to an expanding vehicle base. On average, tyres need replacement every 3-5 years, depending on usage patterns. With the number of vehicles on Indian roads crossing 300 million, the recurring nature of tyre replacement ensures a steady stream of demand.

Automation, robotics, AI, and digital twins are entering the tyre production floor. Innovations in materials science—such as the use of silica-based compounds and advanced polymers—are helping create tyres with better grip, fuel efficiency, and longer tread life.

The push for better road safety is prompting stricter tyre standards and performance benchmarks. Tyre labeling, BIS certifications, and mandatory testing procedures are raising product quality. Moreover, initiatives like the PLI (Production Linked Incentive) scheme are supporting local manufacturers in scaling operations.

• Two-Wheelers: High volumes and frequent replacements make this segment dominant.

• Passenger Cars: Growth fueled by urbanization and personal mobility needs.

• Light & Heavy Commercial Vehicles: Demand linked closely to economic activity, logistics growth, and road construction.

• Three-Wheelers & OTR: Niche but critical segments supporting rural transport and infrastructure projects.

The OEM segment leads the market, driven by rising automobile production and long-term contracts with vehicle manufacturers. Tyre manufacturers align closely with OEMs to ensure compatibility, performance, and cost-efficiency, which helps them secure recurring bulk orders and stable revenues.

• Radial Tyres: Preferred for their superior durability, fuel efficiency, and performance, especially for long-distance travel and highways.

• Bias Tyres: Still prevalent in rural and agricultural use due to cost-effectiveness and robustness over rough terrain.

The India Tyre Market is characterized by intense competition among domestic and global players. Market leaders are focused on expanding their product portfolios, enhancing distribution networks, and leveraging innovation to maintain a competitive edge.

• MRF Limited – A homegrown leader with a vast distribution network and strong brand recall.

• Apollo Tyres Ltd – Known for innovation, global expansion, and EV-compatible tyres.

• JK Tyre & Industries Ltd – Focused on radial tyre technology and smart tyre solutions.

• CEAT Limited – A key player investing in digital retail experiences and performance tyres.

• Balkrishna Industries Limited (BKT) – Specialized in OTR and heavy-duty tyres, globally recognized.

• Goodyear India Limited – American legacy player with a solid presence in passenger and agricultural tyres.

• Continental Tyres India Pvt Ltd – Brings global R&D and premium product innovation to Indian roads.

• Yokohama India Pvt. Ltd – Known for high-performance and motorsport-inspired tyres.

• Hankook Tire & Technology Co., Ltd – Expanding its footprint in premium tyre categories.

• TVS Srichakra Limited – Focused on two-wheeler and three-wheeler tyre segments.

Companies are also ramping up retail digitization, fleet partnerships, and tyre-as-a-service (TaaS) models to offer value-added services, such as predictive maintenance, tyre health monitoring, and doorstep installation—aimed at elevating customer experience.

Looking ahead, the India tyre market promises a vibrant future fueled by innovation, rising demand, and global integration. By 2030, the market is anticipated to achieve a valuation of USD 29.16 billion, driven by:

• Sustained economic growth and expanding middle class.

• The accelerated shift to electric mobility.

• Greater emphasis on sustainability and eco-conscious materials.

• Improved public transport and logistics infrastructure.

• Digital and IoT integration within tyre technology.

• Expanding aftermarket service networks.

Tyre manufacturers that can anticipate these shifts, invest in next-gen R&D, and foster customer-centric solutions are likely to gain the lion’s share of future growth.

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1. Comprehensive Market Forecast from 2020 to 2030, with CAGR and value analysis.

2. In-depth Segmentation across vehicle types, demand categories, and construction types.

3. Detailed Competitive Landscape, profiling leading companies and market strategies.

4. Trend Analysis highlighting sustainability, EV tyres, and smart tyre adoption.

5. Identification of Key Drivers and Restraints impacting market dynamics.

6. Regional Insights highlighting demand variations across different parts of India.

7. OEM and Aftermarket Analysis to help businesses identify profitable partnerships.

8. Future Opportunity Mapping to guide investment and expansion decisions.

9. Customized Business Strategies for stakeholders including manufacturers, investors, and policymakers.

10. Free 10% Customization to tailor insights based on unique client requirements.

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