India Electric Vehicle Tire Market Forecast 2025-2030

India Electric Vehicle Tire Market Overview: 2025-2030
Base Year: 2024
Historical Years: 2020–23
Forecast Years: 2025-2030
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.
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India Electric Vehicle Tire Market Dynamics: 2025-2030
India Electric Vehicle Tire Market Challenges:
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.
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India Electric Vehicle Tire Market (2025-30): Segmentation Outlook
The market 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.
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.
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Top Companies Operating in the 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.
Market Recent Development:
• 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.
• 2024: JK Tyre partnered with Vertelo to provide Connected Mobility Solutions’, a cloud-based monitoring system. Through this partnership, JK Tyre will be providing the brand’s new generation 255/70R22.5 JUXe EV tires equipped with connected Treel sensors with real-time monitoring for Vertelo’s fleet.
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