Press Release

India Electric Vehicle Tire Market Expected to Hit 48.39 Million Units by 2030, Growing at 32.04% CAGR

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, cites MarkNtel Advisors in the recent research report. The market is driven by the active participation of the government in boosting the sales of Electric Vehicles through greater encouragement, tax incentives, schemes, and plans, among others, to bring electrification to the country and address the alarming environmental concerns & emissions.

With such support, the fleet size for EVs is mounting and propelling the demand for compatible tires. The same aspect is also generating lucrative opportunities for the prominent players in the industry to bring new EV tire variants into the market that complement the vehicle and drive the industry. Besides, with Road transport accounting for 90 percent of the carbon emissions, the government is leaving no stone unturned to attain clean and sustained mobility across the nation.

Moreover, with the presence of various programs & plans like the National Electric Mobility Mission Plan 2020 (NEMMP) and Faster Adoption & Manufacturing of (Hybrid &) Electric Vehicles in India (FAME) scheme, among others, the entire EV industry is set to gain traction & directly influence the market growth, further states the research report, “India Electric Vehicle Tire Market Analysis, 2025.”

India Electric Vehicle Market Segmental Analysis:

Two-wheeler segment is projected to drive India Electric Vehicle Market

Based on the Vehicle Type, Two-Wheelers are anticipated to make a substantial contribution to the expansion of the India Electric Vehicle Tire Market through 2030. This growth is attributed to large number of the low-income population preferring two-wheelers as a convenient mode of transportation regularly and to eliminate issues like road congestion. It, in turn, is demonstrating a higher vehicle fleet for two-wheelers and their direct influence on the tire market.

Besides, with a rise in the female-working population, the demand & sales for two-wheelers have gained swift momentum. It, in turn, is also instigating automakers to introduce an expansive range of two-wheelers at affordable prices and attracting tire manufacturers to bring compatible tires, catering the market growth. Such aspects hint toward a presence of lucrative opportunities & significant market growth through 2030.

Radial Tires segment is Projected to drive the India Electric Tire Market

Based on the Product Type, Radial Tires are anticipated to dominate the India Electric Tire Market. Radial tires have various advantages over other type of tires that make them more suitable for electric vehicles. These types of tires offer a smoother, more comfortable ride than Bias-Ply tires. They run cooler at highway speeds and under load. Radial Tires are more fuel-efficient, have a longer lifespan, are more resistant to punctures, and can handle high-speed driving better.

Moreover, various innovations such as sensors in Radial Tire by major market players is also fuelling the market growth. In recent years, Continental AG launched LD-Master L5 Traction radial tire fitted with tire sensors ex-factory. Similarly, in recent years, JK Tyre launched India’s first Smart Tyre technology and introduced Tyre Pressure Monitoring Systems (TPMS) with TREEL Sensors which monitor the tyre’s vital statistics, including pressure and temperature.

Competitive Landscape

The leading players in the India Electric Vehicle Tire Market include 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., and Yokohama Rubber Co. Ltd.

Key Questions Answered in the Research Report?

1. What are the current & future trends in the India Electric Vehicle Tire Market?
2. How has the industry been evolving in terms of product adoption?
3. How has the competition been shaping across Kuwait, followed by their comparative factorial indexing?
4. What are the key growth drivers & challenges for the India Electric Vehicle Tire Market?
5. What are the customer orientation, purchase behaviour, & expectations from electric tires manufacturer across India?