India Electric Vehicle Tire Market Overview and Insights:

According to MarkNtel Advisors Report, the India Electric Vehicle Tire Market size was valued at around 8.39 Million Units in 2024 and is projected to reach 48.39 Million Units by 2030. Along with this, the market is estimated to grow at a CAGR of around 32.04% during the forecast period, i.e., 2025-30.

India Electric Vehicle Tire Market research is an ongoing process. Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.

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Key Takeaways: Beneficial for Stakeholders and Clients:

• Historical Data: 2020-23
• Base Year: 2024
• Forecast Period: 2025-2030

What are the major challenges facing the India Electric Vehicle Tire Market?

High Cost of Raw Materials: The cost of raw materials like natural and synthetic rubber, as well as oil-based components, can fluctuate due to market conditions, supply chain issues, and geopolitical factors. These fluctuations directly impact electric tire production costs and can squeeze profit margins. Electric Tire manufacturers are grappling with unprecedented raw material costs as natural rubber prices touched a 13-year high in June 2024. This surge has prompted leading companies such as CEAT and JK Tyres to increase prices to offset the rising costs. Moreover, according to Industry Experts, raw material prices rose by 5-6 percent in the next quarter i.e. July of 2024 impacting the overall prices of electric tires. This increase in raw material prices is primarily driven by supply shortages caused by adverse weather conditions in Southeast Asia. As India is heavily dependent on raw materials imports, the cost of electric vehicle tires would keep increasing which would further restrain the market growth in the coming years.

Who are the Key Players Operating in the India Electric Vehicle Tire Industry?

The top companies of the India Electric Vehicle Tire market ruling the industry are: 

• Apollo Tyres
• Bridgestone
• Ceat Tire
• Continental AG
• Cooper Tire & Rubber Company
• Goodyear Tire & Rubber Co.
• Hankook Tire & Technology Co. Ltd.
• Michelin
• Nokian Tyres
• Pirelli & C. S.p.A.
• Yokohama Rubber Co. Ltd.

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What is Included in India Electric Vehicle Tire Market Segmentation?

The report has segmented the market into the following categories:

By Vehicle Type

• Passenger Cars- Market Size & Forecast 2020-2030F, Units Sold (Thousand Units)
• Commercial Cars- Market Size & Forecast 2020-2030F, Units Sold (Thousand Units)
• Two-Wheelers- Market Size & Forecast 2020-2030F, Units Sold (Thousand Units)

Based on the type of vehicles, the market is bifurcated into Passenger cars, light commercial vehicles(LCVs), and Medium & High Commercial Vehicles. Among all these, - two wheelers are anticipated to dominate the India Electric Vehicle Tire Market with the largest share during the forecast period due to increased penetration of two-wheeler electric vehicles in the Indian Market. Moreover, high traffic congestion issues due to a swift rise in the vehicle fleet, compel people to opt for two-wheelers as a convenient medium of transportation.

By Product Type

• Radial Tires- Market Size & Forecast 2020-2030F, Units Sold (Thousand Units)
• Bias Tires- Market Size & Forecast 2020-2030F, Units Sold (Thousand Units)

By Tire Size

• Up to 14”- Market Size & Forecast 2020-2030F, Units Sold (Thousand Units)
• 15”-18”- Market Size & Forecast 2020-2030F, Units Sold (Thousand Units)
• Above 18”- Market Size & Forecast 2020-2030F, Units Sold (Thousand Units)

By Propulsion

• Battery Electric Vehicle (BEV)- Market Size & Forecast 2020-2030F, Units Sold (Thousand Units)
• Hybrid Electric Vehicle (HEV)- Market Size & Forecast 2020-2030F, Units Sold (Thousand Units)

By Sales Channel

• Original Equipment Manufacturers (OEMs)- Market Size & Forecast 2020-2030F, Units Sold (Thousand Units)
• Aftermarkets- Market Size & Forecast 2020-2030F, Units Sold (Thousand Units)

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Frequently Asked Questions (FAQs)-

• What are the industry's overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
• What are the trends influencing the current scenario of the market?
• How has the India Electric Vehicle Tire industry been evolving in terms of geography & adoption?
• Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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