India's tyre industry is on the verge of a massive transformation. A new report by the Automotive Tyre Manufacturers Association (ATMA) and PwC India expects the sector's revenue to grow 12-fold by 2047. The value is expected to touch Rs. 13, 00,000 crore (USD 147.73 billion).

The report underlines that premiumisation, export growth, and higher demand will fuel this journey. Volumes are expected to grow by nearly four times. Demand will come mostly from original equipment manufacturers (OEMs), replacement tyres, and strong momentum in vehicle exports.

Exports and Premiumisation Driving Growth

According to the study, electrification and servitisation will reshape the tyre market. Rising raw material costs and changing revenue mix will also add value to the industry.

Kawan Mukhtiar, Partner and Leader, Automotive, PwC India, said that India's path to Viksit Bharat 2047 presents a unique window of opportunity. Tyre exports to the United States (US) and the European Union (EU) are expected to increase rapidly, especially in the commercial and passenger vehicle categories.

This export push will place India confidently on the global mobility map, forming jobs and boost the country's industrial strength.

Strong Demand in the Domestic Market

The report also states that India's domestic market will remain a significant growth driver. Rising investment in infrastructure and growing consumption are expected to drive robust demand for tyres. OEM and replacement tyre revenues are expected to raise at a compound annual growth rate (CAGR) of 10% through 2047.

Such continued growth will offer a solid foundation for the sector. It will also ensure that India's tyre industry keeps pace with shifting technologies, sustainability goals, and growing mobility requirements.

India's tyre industry is entering a high-growth phase. With exports, premiumisation, and robust domestic demand, it is expected to grow revenues 12 times by 2047. The journey promises to fortify both industry and economy in the years ahead.