Article -> Article Details
| Title | Rolling Ahead: Growth Trajectories and Trends Shaping the India Tire Market |
|---|---|
| Category | Automotive --> Automotive Parts |
| Meta Keywords | India Tire Market Demand |
| Owner | shital |
| Description | |
| ???????????????????????????????? The India Tire Market Size has witnessed significant growth, with its size valued at 194.57 million units in 2023 and projected to reach 239.30 million units by 2030, growing at a CAGR of 3% over the forecast period. This expansion is primarily driven by the increasing demand for vehicles in India, which has, in turn, fueled the growth of the automotive sector. Radial tires are gaining significant popularity due to their superior performance and fuel efficiency, contributing to the market's upward trajectory. The Indian government's strategic measures, including imposing tariffs on imported tires and providing financial incentives to local manufacturers, further bolster the domestic tire industry. Additionally, the market dynamics are influenced by the dominance of the replacement tire segment over the OEM (Original Equipment Manufacturer) segment. With the average age of vehicles on Indian roads increasing, the need for replacement tires becomes more pronounced. Ongoing and planned infrastructure development projects, such as road construction and improvement, also contribute to the increased demand for tires across various vehicle categories. Ask for Sample to Know US Tariff Impacts on Market @https://www.maximizemarketresearch.com/request-sample/21022/ Estimated Growth Rate for India Tire Market India Tire Market size was valued at 194.57 Mn Units in 2023 and the India Tire Market revenue is expected to reach 239.30 Mn Units by 2030, at a CAGR of 3 % over the forecast period. Regional Analysis : More than 170 countries around the world, including upscale markets in North America and Europe, purchase tires made in India. Leading the pack, the United States is the largest market and accounts for 19% of India's tire exports. Germany, Brazil, the United Kingdom, and France are among the other top export destinations in FY22, according to data from the Government of India's Ministry of Commerce. The constant demand from these important partner countries is the reason for the India tire market's steady expansion. India Tire Market Segmentation: by Vehicle Type Passenger Car Tires by Tire Type Radial Tires by Sales Channel OEM Sales by End-User Individual Consumers Request a Sample of the US Tariff Impact Analysis Report:https://www.maximizemarketresearch.com/request-sample/21022/ Key Players : Discover strategies of the key players in the market and explore how they are navigating trends, expanding their portfolios, and capitalizing on emerging applications. From global leaders to regional influencers, this report provides a complete competitive analysis. 1. Balkrishna Industries For deeper market insights, peruse the summary of the research report:https://www.maximizemarketresearch.com/market-report/india-tire-market/21022/ Key Highlights:
Top Questions Answered:
Latest cutting-edge research from Maximize Market Research is now trending: ♦ Global Bamboo Leaf Extract Market : https://www.maximizemarketresearch.com/market-report/global-bamboo-leaf-extract-market/108439/ ♦ Global Extractables and Leachables Testing Services Market : https://www.maximizemarketresearch.com/market-report/global-extractables-and-leachables-testing-services-market/82518/ ♦ Sodium Methylate Market : https://www.maximizemarketresearch.com/market-report/global-sodium-methylate-market/66007/ About Maximize Market Research: Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies. Contact Maximize Market Research: 3rd Floor, Navale IT Park, Phase 2 Pune Bangalore Highway, Narhe, Pune, Maharashtra 411041, India sales@maximizemarketresearch.com +91 9607195908, +91 9607365656 | |