Rising Demand: India Electric Vehicle Tire Market Predicted to Expand at 32.04% CAGR by 2030

 According to a recent comprehensive by MarkNtel Advisors  India Electric Vehicle Tire Market research report, the   India Electric Vehicle Tire market is set for significant growth, driven by factors such as market size, share, and evolving trends.

This detailed report offers crucial insights into the market, covering key aspects such as market segmentation and definitions. It outlines the main drivers of growth and provides a clear forecast of the industry’s future direction. Additionally, the study provides a thorough overview of the competitive landscape, detailing recent developments and regional distribution across major areas. An expert competitor analysis delivers an in-depth understanding of market dynamics, offering strategic recommendations for businesses and investors.

With its robust analysis and forward-looking projections, this report is an essential resource for stakeholders aiming to leverage emerging opportunities and address potential challenges in the India Electric Vehicle Tire market.

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India Electric Vehicle Tire Market (2025-2030): Analysis and Growth

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. The market is driven by the rapidly increasing concerns over environmental degradation, excessive use of fossil fuels, and mounting emissions, leading to several health issues while challenging sustainability.

What are the key drivers fueling growth in the  India Electric Vehicle Tire market from 2025-2030?

Government Support to Boost Market Growth: The government of India is implementing various initiatives and policies that are enhancing the adoption of electric vehicle tires in the country. Policies, such as the Make in India initiative, aim to boost domestic manufacturing and support local industries. Investments in road infrastructure and manufacturing capabilities create a favorable environment for tire production and sales. Additionally, in 2024, the government introduced the PM E-DRIVE scheme with an outlay of 10,900 crores, effective from October 2024 to March 2026. The scheme aims for faster adoption of electric vehicles (EVs), setting up of charging infrastructure, and development of EV manufacturing eco-system in the country, leading to the increase in sales of the EV tire.

 

Similarly, in 2024, Michelin, Bridgestone, and Goodyear company along with potential investors Yokohama and Birla Tire, are set to invest around USD 348 million in India's manufacturing sector under a government scheme linking imports to local investment. This initiative, aimed at boosting domestic production of electric vehicle tires, follows the Centre’s import restrictions.

In 2024, the Electric Mobility Promotion Scheme 2024 (EMPS 2024) was launched by the Indian government to offer support of up to INR 10,000 per two-wheeler for about 3.33 lakh two-wheelers which would support the adoption of the EV tire market in India.

India Electric Vehicle Tire Market : Segmentation Analysis

-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)

-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 (Thousand Units)

-Aftermarkets- Market Size & Forecast 2020-2030F, Units Sold (Thousand Units)

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What role do key competitors play in shaping the market, and how are they adapting to emerging trends and challenges?

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., Others

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Key Questions Answered in the Research Report:

1.     What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?

2.     What are the trends influencing the current scenario of the market?

3.     What key factors would propel and impede the industry across the country?

4.     How has the industry been evolving in terms of geography & solution adoption?

5.     How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2025-2030?

6.     Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

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