Top 10 Tyre Companies In India
Indian tyre industry is booming, especially in the last decade or so, a number of tyre companies have started operating in the Indian tyre market. These include foreign stalwarts like Goodyear, Michelin, etc. as well as trusted Indian giants such as Apollo, JK Tyres, MRF to name a few. We thought to compile a list of top notch tyre companies operating in India.
1. Apollo Tyres –
Established in 1972, Apollo is one of the biggest companies in India having a market share of 62.6% (tyre sales revenue) in India. They have sold Rs. 117.1 billion in the financial year 2016, having a net profit of Rs. 10.93 bn. The year 2016 saw Apollo tyres maintain its leadership position in Truck and Bus segments. The company’s robust and quality portfolio ensured that it leads the market with over 25% market share. This year the company introduced XT-7 Gold HD, a new bias truck tyre with improved durability for moderate to high load applications. It has 4,900 dealers approx. across India.
2. JK Tyres and Industries Limited –
Based in Delhi, it was formed in 1974, and soon established itself as the market leader in Truck/Bus Radial Tyre segment in India and is the only tyre manufacturer offering the entire range of 4 wheeler radials for trucks, buses and cars. JK Tyres states itself as ‘The Badshah of radial tyres on Indian roads’ with more than 3-million truck and bus radial tyres on Indian roads. It is also India’s No. 1 truck and bus radial tyres manufacturer. It has been awarded as a Superbrand for the year 2013-2014. The group also received the ‘Brand of the Year’ Award in 2015 at World Branding Awards held in London. It has exports of INR 581 crores (2016).
3. MRF Tyres Ltd –
Madras Rubber Factory, was created in 1946, and is a multi-national company and the largest manufacturer of tyres currently in India. The company is advanced in terms of technology with its world-class facilities. For the 12th time in the last 16 years, it has been ranked as India’s No 1 tyre manufacturer in the customer satisfaction in the J D Power Asia Pacific 2016 India Original Tyre Satisfaction Study for Passenger cars for SUVs and Passenger cars.
4. CEAT Ltd. –
Established in 1958, and a flagship company of RPG Enterprises. It is one of the India’s leading tyre maker with a capacity of rolling out more than 95,000 tyres per day. Its major market share is in the light truck and truck tyre market segment. The company’s major share of its export sales comes from Middles East (29%). In 2015 the Net Sales in INR was 5, 75,477 lacs (CEAT Annual Report 2014-15).
5. Balkrishna Industries Ltd. –
The company is currently an OEM vendor for the heavy equipment manufacturers like JCB company, John Deere and CNH Industrial. Balakrishna Industries Ltd has developed into a global player and currently enjoying 6% market share of the global “off the road tyre segment”. In 2013, it was also ranked as 41st among the world’s tyre makers. The company is known for its good services and durable tyres.
6. TVS Srichakra Ltd. –
The TVS group is one of India’s largest industrial conglomerates and TVS Sundaram Iyengar and Sons Ltd. (TVS & Sons) is its parent and holding company. TVS Srichakra is one of the leading two and three-wheeler tyres manufacturing company. Set up in 1911, the company has been rolling more than 11 million tyres a year. They are recognised as the largest manufacturer of industrial pneumatic tyres, farm and implements tyres, multipurpose tyres. Gross income – INR 2,082 crores (2016 estimates).
7. Goodyear India Limited –
Parent organisation, Goodyear Tyre and Rubber Company (Global Name) was founded in 1898, with headquarters at Ohio (USA), they went on achieving heights in tyre manufacturing claiming World’s first Detachable tyre and the Mass-produced Car i.e. the Model T-Ford. They are also engaged in manufacturing of tyres for different products such as Automobiles, Trucks, Racing Cars, Airplanes, Farm Equipment and Heavy Earth-Mover Machinery. The company has facilities across 6 continents and annual sales of more than $16 bn. The sales performance during the Financial Year 2015-2016 for tyres was INR 1, 78,223 Lakhs.
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8. Govind Rubber Ltd. –
It is a global name for a range of world-class bicycle tyres. Founded by late Mr. M.P. Poddar in 1964, their inception was laid with a motto of creating durable and reliable tyres for the (then) nascent Indian bicycle industry.
9. PTL Enterprises Ltd. –
It was incorporated as a company in 1959. It became an associate company of Apollo tyres ltd (ATL) in 1995. They have a plant in Kerala and are manufacturing tyres since 1962, as of today that plant is on lease to Apollo Tyres on a long-term basis. PTL Enterprises is listed on Bombay and Cochin stock exchanges and has over 7,000 shareholders.
10. Falken Tyre India Pvt. Ltd. –
It is a joint venture of Japan-based Sumitomo Rubber Asia Pvt. Ltd. and Singapore-based Stamford Tyres Corporation Ltd. Launched in Japan in 1983, and later introduced itself in North America, the headquarters of Falken are based out of California. Now after 34-years, Falken has globally become a well-known brand that focuses on Ultra-High Performance products as well as valued lines in Light Truck, Commercial Medium Truck and Bus Radial Tyres while utilizing professional motorsports to further develop and improve products for worldwide distribution. Sumitomo, the parent unit of Falken, is the world’s 6th largest tyre maker, and the product range of Falken matches very well with the company’s global standards. In India, the company sells passenger car and SUV radial tyres.
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