In 2023, the import of new pneumatic tyres of rubber for motor cars to India stood at approximately 6.99 million units. The forecasted data from 2024 to 2028 shows a steady increase in imports, with a compound annual growth rate (CAGR) of around 2.25%. The year-on-year growth is consistent, demonstrating a diligent upward trend with percentages ranging from approximately 3% to 2.50% annually.
Future trends to watch for:
- Technological advancements in tyre manufacturing may influence import demand.
- Government policies on import duties and local production incentives could impact imports.
- Rising environmental concerns may shift demand towards more sustainable tyre options.
- Growth in the automotive sector will continue to drive the need for increased tyre imports.