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Report
India Passenger Car Tyre Market Report and Forecast 2023-2028
Market Report I 2023-10-11 I 189 Pages I EMR Inc.
India Passenger Car Tyre Market Report and Forecast 2023-2028
Market Outlook
According to the report by Expert Market Research (EMR), the India passenger car tyre market is projected to grow at a CAGR of 7.10% between 2023 and 2028 to reach a volume of 247.54 Million Units by 2028. Aided by growing car ownership among burgeoning population and development of green tyres, the market is expected to grow significantly by 2028.
Tyre is an integral component of any vehicular structure, being directly responsible for a vehicle's performance, safety, and fuel efficiency. The quality of tyres affects the overall driving experience, making them a critical factor in the decision-making process of consumers. The demand for passenger car tyres in India has been on a steady rise due to factors such as the country's expansive road network, growing urbanisation, and the burgeoning middle class with increased disposable income.
The augmenting trend of vehicular safety and increasing awareness among consumers regarding the importance of using quality tyres are the key India passenger car tyre market trends driving the market. The rising popularity of high-performance cars among Indian consumers has also shifted the focus towards high-grade tyres that can sustain high speeds and ensure safety. Recent government regulations emphasising the use of radial tyres, which provide better grip and longevity, have further escalated the market demand.
A significant catalyst in the growth trajectory of the Indian tyre market is the domestic manufacturing prowess. With the presence of major tyre manufacturing giants such as MRF, Apollo Tyres, and JK Tyre, India is not only meeting its domestic demand but has also established itself as an export hub. The "Make in India" initiative by the government has further invigorated the tyre manufacturing sector, leading to increased investment and capacity expansion.
The growing e-commerce industry in India is another factor propelling the India passenger car tyre market growth. The ease of online purchase, availability of numerous brands and types of tyres, coupled with attractive discounts, have made online platforms a preferred choice for many customers. This digital shift has also facilitated better consumer education about the benefits of quality tyres and their impact on vehicle performance.
As per the India passenger car tyre market analysis, the market is on an upward trajectory owing to the evolution of electric vehicles (EVs) in the Indian automotive landscape. With the central government's push towards EV adoption, tyre manufacturers are gearing up to cater to this new segment. EVs demand a specific kind of tyre that reduces rolling resistance and, consequently, battery consumption. This burgeoning EV trend is bound to offer fresh avenues for innovation and growth in the tyre sector.
Market Segmentation
The market can be divided based on product, construction type, type, rim size, price range, vehicle type, end use, and region.
Market Breakup by Product
- Tube
- Tubeless
Market Breakup by Construction Type
- Bias
- Radial
Market Breakup by Type
- New Tyres
- Retreated Tyres
Market Breakup by Rim Size
- 13-15 Inch
- 16-18 Inch
- 19-21 Inch
Market Breakup by Price Range
- Low
- Medium
- High
Market Breakup by Vehicle Type
- Hatchback
- Sedan
- SUV
- MUV
- Luxury Cars
- Others
Market Breakup by End Use
- OEMs
- Aftermarket
Market Breakup by Region
- North India
- South India
- East India
- West India
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the India passenger car tyre market. Some of the major players explored in the report by Expert Market Research are as follows:
- CEAT Limited
- JK Tyre & Industries Ltd
- Bridgestone India Private India
- Continental India Limited
- Birla Tyres Limited
- Goodyear India Limited
- TVS Srichakra Limited
- Apollo Tyres Ltd
- Balkrishna Industries Limited
- Michelin India Private Limited.
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 India Passenger Car Tyre Market Overview
8.1 Key Industry Highlights
8.2 India Passenger Car Tyre Historical Market (2018-2022)
8.3 India Passenger Car Tyre Market Forecast (2023-2028)
9 India Passenger Car Tyre Market by Product
9.1 Tube
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Tubeless
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 India Passenger Car Tyre Market by Construction Type
10.1 Bias
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Radial
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
11 India Passenger Car Tyre Market by Type
11.1 New Tyres
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Retreated Tyres
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
12 India Passenger Car Tyre Market by Rim Size
12.1 13-15 Inch
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 16-18 Inch
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 19-21 Inch
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
13 India Passenger Car Tyre Market by Price Range
13.1 Low
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 Medium
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 High
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
14 India Passenger Car Tyre Market by Vehicle Type
14.1 Hatchback
14.1.1 Historical Trend (2018-2022)
14.1.2 Forecast Trend (2023-2028)
14.2 Sedan
14.2.1 Historical Trend (2018-2022)
14.2.2 Forecast Trend (2023-2028)
14.3 SUV
14.3.1 Historical Trend (2018-2022)
14.3.2 Forecast Trend (2023-2028)
14.4 MUV
14.4.1 Historical Trend (2018-2022)
14.4.2 Forecast Trend (2023-2028)
14.5 Luxury Cars
14.5.1 Historical Trend (2018-2022)
14.5.2 Forecast Trend (2023-2028)
14.6 Others
15 India Passenger Car Tyre Market by End Use
15.1 OEMs
15.1.1 Historical Trend (2018-2022)
15.1.2 Forecast Trend (2023-2028)
15.2 Aftermarket
15.2.1 Historical Trend (2018-2022)
15.2.2 Forecast Trend (2023-2028)
16 India Passenger Car Tyre Market by Region
16.1 North India
16.1.1 Historical Trend (2018-2022)
16.1.2 Forecast Trend (2023-2028)
16.2 South India
16.2.1 Historical Trend (2018-2022)
16.2.2 Forecast Trend (2023-2028)
16.3 East India
16.3.1 Historical Trend (2018-2022)
16.3.2 Forecast Trend (2023-2028)
16.4 West India
16.4.1 Historical Trend (2018-2022)
16.4.2 Forecast Trend (2023-2028)
17 Market Dynamics
17.1 SWOT Analysis
17.1.1 Strengths
17.1.2 Weaknesses
17.1.3 Opportunities
17.1.4 Threats
17.2 Porter's Five Forces Analysis
17.2.1 Supplier's Power
17.2.2 Buyer's Power
17.2.3 Threat of New Entrants
17.2.4 Degree of Rivalry
17.2.5 Threat of Substitutes
17.3 Key Indicators for Demand
17.4 Key Indicators for Price
18 Trade Data Analysis (HS Code - 401110, 401211)
18.1 Major Importing Countries
18.1.1 By Volume
18.1.2 By Value
18.2 Major Exporting Countries
18.2.1 By Volume
18.2.2 By Value
19 Competitive Landscape
19.1 Market Structure
19.2 Company Profiles
19.2.1 CEAT Limited
19.2.1.1 Company Overview
19.2.1.2 Product Portfolio
19.2.1.3 Demographic Reach and Achievements
19.2.1.4 Certifications
19.2.2 JK Tyre & Industries Ltd
19.2.2.1 Company Overview
19.2.2.2 Product Portfolio
19.2.2.3 Demographic Reach and Achievements
19.2.2.4 Certifications
19.2.3 Bridgestone India Private Limted
19.2.3.1 Company Overview
19.2.3.2 Product Portfolio
19.2.3.3 Demographic Reach and Achievements
19.2.3.4 Certifications
19.2.4 Continental India Limited
19.2.4.1 Company Overview
19.2.4.2 Product Portfolio
19.2.4.3 Demographic Reach and Achievements
19.2.4.4 Certifications
19.2.5 Birla Tyres Limited
19.2.5.1 Company Overview
19.2.5.2 Product Portfolio
19.2.5.3 Demographic Reach and Achievements
19.2.5.4 Certifications
19.2.6 Goodyear India Limited
19.2.6.1 Company Overview
19.2.6.2 Product Portfolio
19.2.6.3 Demographic Reach and Achievements
19.2.6.4 Certifications
19.2.7 TVS Srichakra Limited
19.2.7.1 Company Overview
19.2.7.2 Product Portfolio
19.2.7.3 Demographic Reach and Achievements
19.2.7.4 Certifications
19.2.8 Apollo Tyres Ltd
19.2.8.1 Company Overview
19.2.8.2 Product Portfolio
19.2.8.3 Demographic Reach and Achievements
19.2.8.4 Certifications
19.2.9 Balkrishna Industries Limited
19.2.9.1 Company Overview
19.2.9.2 Product Portfolio
19.2.9.3 Demographic Reach and Achievements
19.2.9.4 Certifications
19.2.10 Michelin India Private Limited.
19.2.10.1 Company Overview
19.2.10.2 Product Portfolio
19.2.10.3 Demographic Reach and Achievements
19.2.10.4 Certifications
19.2.11 Others
20 Key Trends and Developments in the Market
List of Key Figures and Tables
1. India Passenger Car Tyre Market: Key Industry Highlights, 2018 and 2028
2. India Passenger Car Tyre Historical Market: Breakup by Product (USD Million), 2018-2022
3. India Passenger Car Tyre Market Forecast: Breakup by Product (USD Million), 2023-2028
4. India Passenger Car Tyre Historical Market: Breakup by Construction Type (USD Million), 2018-2022
5. India Passenger Car Tyre Market Forecast: Breakup by Construction Type (USD Million), 2023-2028
6. India Passenger Car Tyre Historical Market: Breakup by Type (USD Million), 2018-2022
7. India Passenger Car Tyre Market Forecast: Breakup by Type (USD Million), 2023-2028
8. India Passenger Car Tyre Historical Market: Breakup by Rim Size (USD Million), 2018-2022
9. India Passenger Car Tyre Market Forecast: Breakup by Rim Size (USD Million), 2023-2028
10. India Passenger Car Tyre Historical Market: Breakup by Price Range (USD Million), 2018-2022
11. India Passenger Car Tyre Market Forecast: Breakup by Price Range (USD Million), 2023-2028
12. India Passenger Car Tyre Historical Market: Breakup by Vehicle Type (USD Million), 2018-2022
13. India Passenger Car Tyre Market Forecast: Breakup by Vehicle Type (USD Million), 2023-2028
14. India Passenger Car Tyre Historical Market: Breakup by Region (USD Million), 2018-2022
15. India Passenger Car Tyre Market Forecast: Breakup by Region (USD Million), 2023-2028
16. Major Exporting Countries by Value
17. Major Importing Countries by Value
18. Major Exporting Countries by Volume
19. Major Importing Countries by Volume
20. India Passenger Car Tyre Market Structure
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