The new report by Expert Market Research titled, ‘India Tyre Market Report and Forecast 2021-2026’, gives an in-depth analysis of the India tyre market, assessing the market based on its segments like vehicle types, design, types, distribution channels, tyre size, price segments, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.

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The key highlights of the report include:

Market Overview (2016-2026)

Historical Market Size (2020): 177 million units
Forecast CAGR (2021-2026): 6%
Forecast Market Size (2026): 218 million units

The tyre industry is being aided by the flourishing automotive sector. Moreover, favourable government schemes such as Make in India and Aatmanirbhar Bharat are also catalysing the market growth. The rising demand for cars and two-wheelers is further lubricating the industry growth. In addition, the surge in the infrastructure industry and the emergence of the middle class owing to urbanisation is propelling the market growth. Moreover, the increase in the sales of automobiles is aiding the market growth. The surging demand for replacement tyres due to poor roads is also leading the market growth.

Industry Definition and Major Segments

A tyre is a rubber covering which is usually inflated or surrounds an inflated inner tube. It is placed around the wheel to ensure soft contact with the road. It also absorbs the shock of the road surface and carries the weight of the vehicle.

The major vehicle types for tyre are:

Passenger Car
Light Commercial Vehicle
Medium and Heavy Commercial Vehicle
Two Wheelers and Three Wheelers
Off Road
Others

Based on the design, the market is segmented into:

Radial
Bias

The market can be broadly divided on the basis of its type into:

Tube Tyres
Tubeless Tyres

On the basis of the distribution channel, the market is segmented into:

OEM
Replacement

Based on the tyre size, the industry is classified into:

Small
Medium
Large

On the basis of price segments, the industry is divided into:

Low
Medium
High

The EMR report looks into the regional markets of tyre in India are:

North India
West and Central India
South India
East India

Market Trends

The India tyre industry is driven by the rising production of tyres due to low production costs and cheap labour. The rising export and domestic sales are also expected to aid the market growth. Rapid urbanisation and industrialisation are increasing the demand for private ownership of vehicles and are expected to drive the market growth. Moreover, government initiatives to facilitate production in the country are anticipated to aid the market. The growth in the construction industry due to the surging population is also expected to escalate the demand for tyres used in construction vehicles, further propelling the industry growth. Increasing research and development (R&D) and the development of eco-friendly tyres providing high efficiency are also anticipated to drive the market in the forecast period.

Explore the full report with the table of contents: https://www.expertmarketresearch.com/reports/india-tyre-market

Key Market Players

The major players in the market are The Goodyear Tyre & Rubber Company, Bridgestone Corporation, Apollo Tyres Limited, CEAT Limited, JK Tyre & Industries Ltd, and MRF Limited, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

About Us:

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.