India: Market for Tyres For Buses Or Lorries 2025

Market Size for Tyres For Buses Or Lorries in India

The Indian truck and bus tyre market was estimated at $X in 2022, stabilizing at the previous year. Over the period under review, consumption, however, saw a slight setback. Truck and bus tyre consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Tyres For Buses Or Lorries in India

In value terms, truck and bus tyre production amounted to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 15%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Tyres For Buses Or Lorries

Exports from India

In 2022, truck and bus tyre exports from India rose to X units, surging by 3.1% against the previous year. In general, total exports indicated mild growth from 2012 to 2022: its volume increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +87.7% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 82% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, truck and bus tyre exports rose notably to $X in 2022. Over the period under review, total exports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +77.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 60% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in the near future.

Exports by Country

The United States (X units), the Philippines (X units) and Nepal (X units) were the main destinations of truck and bus tyre exports from India, together comprising 33% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +28.0%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Brazil ($X) and the Philippines ($X) were the largest markets for truck and bus tyre exported from India worldwide, with a combined 36% share of total exports.

Among the main countries of destination, the United States, with a CAGR of +29.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average truck and bus tyre export price stood at $X per unit in 2022, increasing by 7.2% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average export price increased by 22%. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per unit), while the average price for exports to Nepal ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+3.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tyres For Buses Or Lorries

Imports into India

In 2022, overseas purchases of tyres for buses or lorries decreased by -32.2% to X units, falling for the sixth year in a row after two years of growth. Over the period under review, imports recorded a dramatic downturn. The pace of growth was the most pronounced in 2015 when imports increased by 44% against the previous year. Over the period under review, imports hit record highs at X units in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, truck and bus tyre imports reduced dramatically to $X in 2022. In general, imports showed a precipitous decline. The most prominent rate of growth was recorded in 2015 with an increase of 59%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Thailand (X units) constituted the largest truck and bus tyre supplier to India, with a 74% share of total imports. Moreover, truck and bus tyre imports from Thailand exceeded the figures recorded by the second-largest supplier, Japan (X units), sevenfold. The third position in this ranking was taken by Vietnam (X units), with a 7.4% share.

From 2012 to 2022, the average annual growth rate of volume from Thailand totaled +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-14.1% per year) and Vietnam (+28.5% per year).

In value terms, Thailand ($X) constituted the largest supplier of tyres for buses or lorries to India, comprising 65% of total imports. The second position in the ranking was taken by Japan ($X), with a 9.7% share of total imports. It was followed by Vietnam, with a 7.4% share.

From 2012 to 2022, the average annual growth rate of value from Thailand stood at +7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-19.7% per year) and Vietnam (+22.9% per year).

Import Prices by Country

In 2022, the average truck and bus tyre import price amounted to $X per unit, approximately mirroring the previous year. Over the last decade, it increased at an average annual rate of +3.1%. The pace of growth appeared the most rapid in 2021 an increase of 26% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :