India Tire Market Growth, Trends, and Forecast to USD 29.16 Billion by 2030
The India tyre market has witnessed remarkable growth in recent years, emerging as a key component of the country's automotive and transportation sectors. According to the TechSci Research report, " India Tyre Market - By Region, Competition, Forecast & Opportunities, 2020-2030F," the market was valued at USD 12.84 billion in 2024 and is projected to reach USD 29.16 billion by 2030 , growing at a Compound Annual Growth Rate (CAGR) of 8.21% during the forecast period. This report delves into the factors driving this growth, the challenges the industry faces, and the future trends shaping the market. India Tire Market Drivers Increasing Vehicle Ownership One of the primary drivers of the India tyre market is the significant increase in vehicle ownership across the country. As India’s economy expands, more individuals can afford vehicles, leading to a surge in demand for tyres across various segments, including passenger cars, two-wheelers, and commercial vehicles. T...