Indian Truck Tyre Market Analysis and Forecast

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.

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.

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, especially in sand and coal mine applications. These are the primary 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.

Read Full report: https://www.autobei.com/autoreports/commercial-vehicle/truck/indian-truck-tyre-market-report/