India's tyre industry has strengthened its position on the world stage, with four domestic manufacturers now ranked among the top 20 globally, according to the latest Global Tyre Report published by Tire Business based on 2024 sales figures.
MRF leads the Indian contingent in 13th place worldwide, followed closely by Apollo Tyres in 14th position. JK Tyre & Industries secured 19th place, whilst CEAT made its debut appearance in the rankings at 20th, highlighting India's expanding influence in global tyre manufacturing.
Rajiv Budhraja, Director General of the Automotive Tyre Manufacturers Association (ATMA), described the achievement as a source of "immense pride for the Indian manufacturing ecosystem." He noted that it reflects both the scale Indian companies have achieved and their focus on technology and global competitiveness, calling it "a validation of India's emergence as a global hub for high-quality, value-driven tyre manufacturing."
Indian manufacturers have demonstrated consistent upward momentum over the past decade. Apollo Tyres has climbed three places since 2013, whilst JK Tyre has advanced six positions during the same period. CEAT has shown particularly rapid recent progress, rising three spots in the past year alone.
India's industrial footprint underscores its manufacturing prowess. With 67 tyre plants, the country ranks as the world's second-largest tyre manufacturing base by number of facilities, trailing only China's 158 plants and well ahead of the United States' 44.
Within Asia, MRF operates the second-largest manufacturing network with 10 plants, behind only Bridgestone's 19 facilities. Indian manufacturers have also established strong positions in specialised segments. MRF leads globally in racing tyre manufacturing with three dedicated plants and ranks second worldwide in motorcycle tyres with four plants, followed by CEAT with three. In the farm tyre segment, MRF's seven factories place it second globally.
Capital investment has been crucial to this expansion. Apollo Tyres recorded the highest capital expenditure globally as a percentage of sales, reinvesting 59% into expanding and modernising operations. MRF also featured among global leaders, with capital expenditure exceeding 10% of sales.
The outlook remains positive. A recent joint report by ATMA and PwC India, titled "Viksit Bharat 2047: Vision and Roadmap for the Indian Tyre Industry," projects that India's tyre production could nearly quadruple by 2047, with industry revenues potentially growing nearly twelvefold to approximately ₹1,300,000 crore.
"With strong domestic demand, rising exports and policy support under the vision of a Viksit Bharat, we are confident that Indian tyre manufacturers will continue to move up global rankings and play a defining role in the future of global mobility," Budhraja concluded.
Tagged with: Global tyre rankings, Indian tyre manufacturers, MRF, Apollo Tyres, JK Tyre, CEAT, capex, ATMA PwC report, exports, OE fitments, EV tyres
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