The tyre manufacturing companies came into existence many years back and now our country is a home for 39 tyre manufacturers who operate 60 plants and most of them situated in Northern India. India has an original equipment manufacturer market for tyres also for replacement. With more than 220 million registered vehicles as per government records, our country has a huge market for various brands of tyre. The Indian tyre industry is estimated to be around 65000 Cr as of FY19 and the top 10 companies have more than 90% volume. With 56% of the tyre industry remains institutional, around 44% of our country exports. By the financial year 2020, the industry is expected to grow by 45 to 50%. The major part of a tyre manufactured and sold in India are for scooters, motorcycles, passenger vehicles, LCVs, trucks, and buses. When buying tyres for your vehicle, the quality is very important to be considered, so that they last longer. Here are given a list of top 10 tyre companies in India on the bases of revenue and sales.
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1. MRF Tyres
MRF is the largest tyre company in India in terms of sales, revenue, and market capitalization. MRF, the Madras Rubber Factory was started in Chennai during the 1940’s, headquartered in Tamil Nadu, founded by Mammen Mappillai. The multinational company is the fourteen largest tyre manufacturers in the world. The company produces treads, tubes, paints, toys, and conveyor belts. In 1973, the company started manufacturing nylon tyres for the first time and in 1978 they got collaborated with B.F.Goodrich. In 1979, the name of the company was changed to MRF Ltd. They supplied tyres to Maruti 800, India’s first stylish small car. MRF is the best company in India in terms of quality. The company is exporting quality tyres to multiple countries and they have 8 manufacturing plants spread across 450 acres. The total revenue of the company is INR 22683 .87 Cr and the number of staff is 16194.
2. Apollo Tyres Ltd
Apollo tyres were founded in 1972 and since the brand remains trusted in the business of manufacturing tyres. Headquartered in Gurgaon, the company has branches spread over 100 countries across the globe. They have manufacturing units across India and in Hungary, Netherlands. They produce tyre for all kinds of vehicles under the banner Apollo, Kaizen, Regal, Vredestein. Later they focused on a commercial vehicle, passenger vehicles, two-wheelers, and off-road vehicles. Apollo is ranked 17th largest tyre manufacturers in the world. Apollo tyres are considered as one of the best places to work. The company total sale is INR 17,309 Cr and market capitalization is INR 9633 Cr. The company also has an office Amsterdam and global R&D center in India and Europe. Their budget-oriented tyre offers great performance and luxury radials as well.
3. CEAT Tyre Company
CEAT Tyre Company was established in 1958, headquartered in Mumbai. They are one of the leading tyre manufacturers having a strong share in the Indian market. The flagship company of the RPG group was founded in Italy by Virginio Bruni Tedeschi. They have produced 165 million tyres in a year for passenger cars, two-wheeler, trucks, buses, and commercial vehicles. In March 1958, the company incorporated as CEAT tyres and later collaborated with the Tata group. CEAT has offices globally in about 130 countries and India the tyres are manufactures in various plants set up in Ambernath, Nagpur, Chennai, Nashik, Halol, and Bhandup. They have 4500 dealers across the country and the brand remains trustworthy as well as reliable. The total revenue of the company is INR 63302.5 million and the number of employees is 8000.
4. JK Tyre & Industries Ltd
JK organization is a quite familiar and popular business organization in India founded by Lala Juggilal Singhania & lala Kamlapat Singhania in 1888. The company headquartered in Delhi manufactures products like cement, tyre, paper, software, diary products, seeds, and engineering equipment. They are a part of a huge organization with the presence known worldwide. They are the only company to be honored of being in the list of Superbrands in 2019. The name of the company is present in the Limca Book of Records. JK tyres have 9 manufacturing plants in India and 3 plants in Mexico. They are pioneers of radial technology and started producing radial tyres in 1977. The company has a network of more than 4000 dealers and around 500 dedicated brand shops. JK has its smart tyre that comes equipped with sensors that will let you monitor the health of the tyre in real-time. The company has a revenue of $7.0 billion and holds a workforce of 50,000.
5. Metro Tyres
Metro tyres came into existence in 1958 and they are market leaders for bicycle tyres and tubes in India. With quality products and outstanding service, they ventured into the overseas market developing a niche for itself. The company has 7 manufacturing units and more than 10,000 dealers across the globe. They have a presence in 53 countries and have manufacturing capacity close to 30 million tyres annually. The company is well known for its best motorcycle tyre manufacturers and suppliers in India. They hold a 60% share of cycle rickshaw tyres and a 24% share of bicycle tyres and tubes in India. The company now has got collaborated with German tyre manufacturing giants to enhance the quality of their products. Metro company is considered to be the key player in both the domestic and overseas markets and is considered to be India’s most promising brand in the future.
6. Balkrishna Industries Ltd
Balkrishna Industries is a prominent company manufacturing in the off-highway tyre market. They are listed as one of the best quality tyre brands in India. The company founded in 1987 focused on specialty segments like agriculture, porting and mining, AVT, gardening applications, construction, earthmoving and industrial vehicles. The company headquartered in Mumbai is currently on OEM vendor for heavy equipment manufacturers. The company has a presence across the globe by serving the replacement market in North America and Europe. About 80% of their business is operated in the US in the farm market. The global player holds a 6% market share in the off-highway tyre industry and has revenue of INR 37.8 billion. The company employees 6000 people. Balkrishna industries are exclusive manufacturers of Monster Jam and its fleet of monster trucks.
7. Birla Tyres
Birla tyres belong to the Kesoram group and were founded in the year 1991. The company manufactures automobile, motorcycle, commercial vehicles, farm vehicles, and heavy earthmoving machinery. The company headquartered in Kolkata manufacture bias and radial tyres with sale depots in India and across 17 countries worldwide. Birla tyres offer a wide range of products from motorcycle to farm tractors. They got collaborated with Italian company globally acclaimed brand, Pirelli. The brand is reputed for dozens of corporate social responsibility initiatives they have taken across India. Their product range includes passenger and commercial vehicles of all makes.
8. TVS Srichakra Ltd
TVS Srichakra is one of the leading two and three-wheeler tyre manufacturers in India. The company belongs to the TVS group founded by TV Sundaram Iyengar in the year 1982. They rebranded the entyre range to the new TVS Eurogrip brand. The company has two manufacturing units in Madurai and Rudrapur. They also manufacture industrial pneumatic tyres, farm and implement tyres, skid steer tyres, floatation tyres, and multi-purpose tyres. They supply to all major automobile manufacturers in India. The turnover of the company is USD 6.0 billion and market capitalization of INR 1349 Cr.
9. Goodyear India Ltd
Goodyear is an American multinational company founded by Frank Seiberling in 1898. The company manufactures tyres for automobiles, commercial trucks, light trucks, motorcycle, SUV, race cars, airplanes, farm equipment, and heavy earthmoving machinery. After inventing tyres that are easily detachable and needs less maintenance, the company becomes popular. They have 47 manufacturing units in 21 countries around the world. They have a lot of commitments to the Indian market. In India, they have two manufacturing plants, in Aurangabad and Ballabgarh. They produce tyres for passenger cars and the farm segment. For the Indian market, they offer high-performance radials and off-road-ready tyres. In Y2019, Goodyear made sales worth INR 178941 Lakh and for tubes generated INR 9486 lakh.
10. Bridgestone
Bridgestone is a Japanese multinational company founded in the year 1931. They are one of the largest manufactures of tyres in the world. The company has 181 production units in 24 countries. The company has been in the Indian market since 1996 and they offer quality tyres for Indian customers. In the Indian market, they sell passenger cars, SUV tyres, truck, and bus tyres under the banner of Bridgestone. The company has 3000 dealers across various cities in India and currently they manufacture passenger tyres at two facilities, Pithampur and Chakan. They have a presence in both the OE sector and the aftermarket sector.
Ralco isn’t as common a name as others here, because its parent company Ralson focussed solely on bicycle tyres until the turn of the millennium. Which is when it entered the two- and three-wheeler space under the name Ralco. Going forward in the early 20, the company announced its plans to enter the farm equipment and light commercial vehicle space as well.