India Tyre Market Growth & Forecast: From USD 12.84 Billion to USD 29.16 Billion at {8.21%} CAGR
The India tyre market has been experiencing remarkable growth, driven by increasing vehicle ownership, infrastructure development, and advancements in tyre technology. According to the TechSci Research report, the market was valued at USD 12.84 billion in 2024 and is expected to reach USD 29.16 billion by 2030, growing at a CAGR of 8.21%. This expansion is fueled by rising demand across passenger vehicles, commercial vehicles, and two-wheeler segments, alongside the increasing penetration of global tyre brands in India. Additionally, government policies promoting domestic manufacturing and foreign direct investment (FDI) in the automotive sector have further bolstered market expansion. This report provides an in-depth analysis of the India tyre market, including key trends, growth drivers, challenges, and future opportunities. India Tyre Market Overview Growth Drivers The expansion of the automotive industry in India has led to a surge in vehicle sales, ...