India's Tyre Industry
The Tyre Market
An overview of India's tyre industry, its link to vehicle sales and freight, the big players, and why replacement demand matters most.
India has a large tyre industry.
Players
MRF, Apollo Tyres, CEAT, JK Tyre, Balkrishna Industries (BKT) and global firms like Bridgestone and Michelin.
Demand
- OEM: tyres for new vehicles.
- Replacement: tyres bought when old ones wear out, the larger segment.
Trucks
Truck and bus tyres make up a big share of industry revenue.
Link to economy
Tyre demand follows freight movement and vehicle use.
Exports
India exports tyres to over 100 countries.
The worn truck tyre
A truck driving long distances replaces its tyres often, fuelling replacement demand.
Thinking new vehicle sales drive most tyre demand
Replacement is larger.
Key takeaways
- MRF, Apollo, CEAT and JK lead.
- Replacement demand is the largest.
- Truck tyres are a big share.
- Demand follows freight.
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