Commercial Vehicle Rising the Shares of Aftermarket Tire Segment in the Indian Tire Market

The Indian tire market is anticipated to grow with a significant CAGR of 5.1% during the forecast period (2020-2026). As per Automotive Tyre Manufacturers’ Association (ATMA), there are 44 tire companies with around 66 tire plants in the country. The production of tires is increasing every year in the last decade (pre-COVID-19). The production of the tires has reached to 192 million in FY 2019 as compared to 146 million in FY 2015. Out of this, the production of truck/bus tiers was 20.8 million, LCV was 11.8 million, passenger cars were 42.8 million, agricultural was 7.0 million and 2/3 wheelers were 107.9 million. 

Browse the full report description of "India Tire Market Size, Share & Trends Analysis Report By Vehicle Type (Passenger Cars, Light & Medium Commercial Vehicle, Heavy Commercial Vehicle, Two-Wheeler and Other), By Road Application (All-Season Tire, Summer Tire, Winter Tire and Other), By Construction (Radial Tire and Bias Ply Tire), By Tire Type (Tubeless Tire and Tubbed Tire), By Sales Channel (OEM and Aftermarket) Forecast Period 2020-2026" at https://www.omrglobal.com/industry-reports/india-tire-market

The tier all across the globe are sold through two sales channel- OEM and aftermarket. In the OEM segment, the companies bought tiers from the tire manufacturer and assemble it into the new vehicle. In the aftermarket segment, the tires are replaced with the earlier one. As per ATMA, the market share of OEM and aftermarket for motorcycles, and passenger vehicles were nearly the same in FY 2019. Whereas, for light commercial vehicle and medium & heavy commercial vehicles, the aftermarket segment was almost double in FY 2019, making it the largest segment in the country. 

Market Coverage

• The market number available for – 2019-2026
• Base year- 2019
• Forecast period- 2020-2026
• Segment Covered- 

o Vehicle Type 

o Road Application 

o Construction 

o Tire Type 

o Sales Channel 

• Countries Covered- 

o India

• Competitive Landscape- JK Tyre & Industries Ltd., CEAT Ltd., Apollo Tires Ltd., MRF Ltd. Bridgestone Corp.

Key Questions Addressed by the Report

• What is the market growth rate?
• Which segment dominates the market in the base year?
• Which segment will project the fastest growth in the market?
• How COVID-19 impacted the market?

o Recovery Timeline

o Deviation from the pre-COVID-19 forecast

o Most affected region

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

India Tire Market Report Segment

By Vehicle Type

• Passenger Cars 
• Light & Medium Commercial Vehicle 
• Heavy Commercial Vehicle 
• Two-Wheeler
• Other (Construction, Agricultural, Customized Sports)

By Road Application 

• All-Season Tire 
• Summer Tire 
• Winter Tire 
• Other

By Construction

• Radial Tire 
• Bias Ply Tire

By Tire Type

• Tubeless Tire 
• Tubbed Tire 

By Sales Channel 

• OEM 
• Aftermarket 

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