Get A Better Grip On Tyre Stocks!

Now that the automobile industry in India and in other countries is out of the shadows of the pandemic, the increasing demand for vehicles in all segments is simultaneously creating a demand for tyres. Also, accounting for the fact that Indian-make tyres are considered top quality around the world, the tyre industry is confident of surging ahead with expansion and growth

Since the success of the automobile industry is crucial to both economic growth and technological advancement, it has historically been a reliable barometer of how the Indian economy is performing. The industry accounts for about 6 per cent of Indian

GDP and 35 per cent of manufacturing GDP. India is the world’s leading manufacturer of tractors, the second-biggest manufacturer of buses and the third-largest producer of heavy trucks, giving it a significant position in the global heavy vehicle market. By 2030, sales of electric vehicles (EVs) are anticipated to reach 10 million units annually, growing the EV market at a CAGR of 49 per cent between 2022 and 2030.

The growth of the automobile industry and the tyre industry work hand in hand as tyres are what make it possible for you and your vehicle to roll down the road. The Indian tyre market size reached 188.9 million units in 2022, highlighting its tremendous potential. The rise in the number of automobiles is driving up demand for tyres and assisting the growth of the tyre industry. Tyre demand is primarily driven by two end-user segments including OEMs and the replacement segment. Indian-made tyres are distributed in over 170 countries, including North American and European markets. The United States, Germany, Brazil the United Kingdom and France are the regions where Indian tyres are exported to the greatest extent.