India Electric Vehicle Tire Market Size, Share & Forecast Analysis to 2030

India Electric Vehicle Tire Market Size & Insights

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. The market is driven by the rapidly increasing concerns over environmental degradation, excessive use of fossil fuels, and mounting emissions, leading to several health issues while challenging sustainability.

What are the Key Driver in the India Electric Vehicle Tire Market?

Government Support to Boost Market Growth: The government of India is implementing various initiatives and policies that are enhancing the adoption of electric vehicle tires in the country. Policies, such as the Make in India initiative, aim to boost domestic manufacturing and support local industries. Investments in road infrastructure and manufacturing capabilities create a favorable environment for tire production and sales. Additionally, in 2024, the government introduced the PM E-DRIVE scheme with an outlay of 10,900 crores, effective from October 2024 to March 2026. The scheme aims for faster adoption of electric vehicles (EVs), setting up of charging infrastructure, and development of EV manufacturing eco-system in the country, leading to the increase in sales of the EV tire.

What are the Key Segments in the India Electric Vehicle Tire Market?

The India Electric Vehicle Tire is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:

By Vehicle Type

Passenger Cars
Commercial Cars
Two-Wheelers

Based on the type of vehicles, the market is bifurcated into Passenger cars, light commercial vehicles(LCVs), and Medium & High Commercial Vehicles.

By Product Type

Radial Tires
Bias Tires

By Tire Size

Up to 14”
15”-18”
Above 18”

By Propulsion

Battery Electric Vehicle (BEV)
Hybrid Electric Vehicle (HEV)

By Sales Channel

Original Equipment Manufacturers (OEMs)
Aftermarkets

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Who are the Key Players in India Electric Vehicle Tire Market?

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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India Electric Vehicle Tire Market News

· 2024: Apollo Tyres and NATRAX partnered to establish a test track in India for validating tires for electric vehicles (EVs). The new facility will enable EV manufacturers to assess the cut and chip resistance of their tires.

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Why This MarkNtel Advisors Research Report:

In-depth Market Analysis: Understand trends and dynamics shaping growth.
Segmented Insights: Target specific segments for focused strategies.
Geographical Performance: Assess market opportunities by geographic area.
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Risk Identification: Pinpoint challenges to inform strategic planning.
Future Forecasts: Prepare for market changes with actionable projections.

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