India Tire Market Overview, 2027

India Tire Market Overview, 2027

Bonafide Research 04-10-2022 45 Pages Figures : 8 Tables : 17
Region : Asia-Pacific Country : Guernsey and Alderney Category : Automotive & Transport Automotive Parts

A tire (tyre) is a ring-shaped component that surrounds the rim of a wheel to carry a vehicle's weight from the axle to the ground while also providing grip on the terrain over which the wheel travels. Modern pneumatic tires (tyres) are made of synthetic rubber, natural rubber, cloth, and wire, as well as carbon black and other chemical compounds. They are made up of a tread and a body. The tread offers traction, while the body holds a small amount of compressed air. Pneumatic tires (tyres) are found on a wide range of vehicles, including commercial light-weight, commercial heavy-weight, passenger cars, two-wheelers, three-wheelers, and other types of vehicles. When it comes to car safety, tyres are one of the most critical components. They have an immediate impact on acceleration, torque, and braking forces. The primary roles of a vehicle's tyres are to support the vehicle's weight, to transmit traction and braking forces to the road surface, to absorb road shocks, and to change and maintain the direction of movement. San Marino has the highest vehicle per capita, which is 1300 vehicles per 1000 persons. This kind of ratio is increasing in each and every country in the world. Vehicles per capita in the world are increasing year after year. With the world's vehicle population rapidly expanding, more gas is combusted, resulting in greater emissions, increased air pollution, and increased tire (tyre) consumption. The market size of the tire (tyre) industry is huge in the India. According to Bonafide Research’s report titled "India Tire (Tyre) Market Overview, 2027" the tire (tyre) industry market of India is expected to grow rapidly over the forecasted period from the year 2022 to 2027. The tire (tyre) market is segmented by end use, OEM, and replacement. The replacement segment holds a major market share as users generally replace tyres due to their wear and tear. OEM, on the other hand, is a one-time purchase that comes with the vehicle when purchased. The tires (tyres) must demonstrate that they are capable of driving in a variety of situations, including rain, snow, dry roads, and pavement. As a result, these tires (tyres) may be construed as jack-of-all-trades, which is undoubtedly right; they're competent in a variety of areas. The tire (tyre) was designed specifically to emphasise and showcase the attributes of the vehicles. Consumers in the India are not rapidly purchasing new vehicles. Tires (tyres) of any brand will gradually lose their peak performance. While it is recommended that they be replaced every 5–6 years, if the consumer drives on difficult or terrible roads, travels long miles on extended voyages, or lives in an area with harsh climatic conditions, more frequent replacement may be required. It is critical to select the proper pair of tires (tyres) for the vehicle in order to get the desired performance, and the selection of tires (tyres) also depends on the type of vehicle. In countries like the USA, where commercial cars are used more, and in countries like India, where the two-wheeler market is much higher than in any other country, the tire (tyre) market for these vehicles is growing significantly in each country. Commercial heavy-weight vehicles, as opposed to passenger cars, two-wheelers, three-wheelers, and commercial light-weights, are designed to handle long straight highways and unpaved areas while carrying a lot of weight. Trucks require long-lasting tyres due to their large size and strong load-carrying capacity. Furthermore, with the advancement of new age technology, tires (tyres) now last longer, give superior drivability, and increase fuel savings. The commercial heavy weight tire (tyre) market in the India is expected to grow at a double CAGR over the forecast period. Radial tires (tyres) have far superior tread wear, lasting three times as long as bias-ply tires (tyres). Radial tires (tyres) are also less likely to develop flat patches when parked in the same location for an extended length of time, and they run cooler on long excursions. Extensive road networks throughout countries have driven increased manufacturing of trucks, buses, and other types of public transportation, which has accelerated demand for radial tires (tyres). The dependency of radial tires (tyres) is increasing in the India and the market for radial tires (tyres) is growing in the industry. Considered in this report • Geography: India • 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 report of companies, analyzing 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 started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry manufactures, consultants, 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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