Indian Truck Tyre Market Report

Publish Date : October, 2024

The Indian Medium and Heavy Truck replacement Tyre Market reached 19.5 million units in FY 2024. ACG forecasts it will reach 26.5 million units by 2030, with a 5 percent CAGR between FY 2025 and FY 2030.

Indian Truck Tyre Market Data and Report Structure

The tyre replacement market is a significant segment of the new, retreated, and replacement tyre industry. The growth and market size of replacement tires depend on the truck’s application and loading pattern.

Indian Truck Tyre Market Forecast

There are five expectations from Tyre Brands:
  • Driving Safety
  • Operating Characteristics
  • Comfort
  • Economy, and
  • Environmental

We have covered over 50 Truck applications and mapped them with the Tyre market’s overload and payload transport practices.

The Tipper, Multi-Axle Vehicle, and tractor-trailer are the significant segments in the Medium and Heavy Duty Truck segment. Our report gives macro-level Tyre size market share, Growth, and market size for each segment of truck and Bus.

ACG is the only Consulting firm that provides Tyre size-wise sales, Market share, and forecast. After introducing new load norms, 10R20 was replaced by 295/90R20. Today, 295/90R20 is the largest tyre size. More than 25 Tyre sizes, including 11R20, 11X20, 8.25R16, and 10.00X20, are included in each truck segment and Truck and Bus application.

The tyre’s Radialization also depends on the Truck Application. It is forecast that radicalization will be around 65 to 70 percent. The new tractor-trailer models come with radial tyres. However, some fleet owners, like Container, still trust ply tyres for truck applications like E-commerce and Parcel. Heavy Tipper has a small tyre replacement cycle. Specially in sand and coal mine applications. These are the primary demand drivers of this segment.

The buying patterns of each customer segment are different. For example, Small truck fleet owners want at least 1 to 3 months of credit, while large fleet owners want a heavy discount on bulk purchases.

Due to the heavy margin available, the Tyre dealer advocates selling their tyres for Chinese Tires. Some mining customers even use Chinese tyres. The market share of Chinese Tyres is around 1.5 to 2%.

MRF has a rich portfolio that covers maximum price points to cater to different Truck segments. Apollo Tyre is a bit expensive compared to market leader MRF, but its rubber is soft and does not get sharp cuts.

There are three types of pricing existing in Indian Tyre Industry:

  • Retail
  • Institutional Sales
  • Tender

The pricing is different for each above segment. Our reports cover all three types of price points.

Bridgestone comes in the Premium tire segment.  JK Tyre recently launched an awe-inspiring ad campaign that comes in the customers’ eyes. It connects with all types of fleet owners.

CEAT and Goodyear Tyres have low tire penetration in the Indian Truck Tyre market compared to MRF and Apollo Tyres.

Some fleet owners prefer to have a Continental tire for specific applications.

Tyre Market Assessment and Forecast Package

Key Highlights of the Report:

  • Indian Truck market trend and forecast on rated payload and overload pattern
  • Tyre market size – Overload vs rated load
  • Radialization of trend and forecast of the following Truck segment:
    • ICV
    • MCV
    • MAV
    • Tipper, and
    • Tractor Trailer
  • Key Tyre Sizes with Pattern by units (In M) and value (in M USD)
  • Potential Tyre market trend and Forecast – FY 2018 to FY 2029
  • Actual Industry Tyre Sales last five years
  • Tyre size level trend and forecast
  • Tyre size wise Sales Volume, Market share, growth, and Forecast of ICV, MCV, Tipper, and Tractor tractor-trailer truck segment
  • Tyre pockets: East, North, South, and West India
  • Projection for the next five years
  • Radialization
  • 45 plus Key Truck Applications and Tyre market size
  • Fleet owner Tyre survey
  • Market breakup of Bias and Radial Tyre
  • Application wise Tyre potential
  • Key players for each Tyre size – Competition
  • New sizes in each Tyre group with potential for five years
  • Truck model on which each Tyre size is fitted
  • No. of Tyres and Axles per truck model
  • OE trend for each Tyre size
  • List the price for each tire size per brand
  • MOP for each Tyre size per brand
  • Tyre Dealer price and margin
  • Indian Tyre Segmentation- segment size, future trend, and others
    • Premium,
    • Value, and
    • Budget Segment
  • Supportive data – Model Application level, overload, and Rated payload data.

The report is beneficial for Tyre manufacturers on the following points:

  • Tyre Business planning
  • Sales planning
  • Production plan and schedule
  • Raw material procurement
  • marketing plan
  • Target group of Truck fleet owner segment

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