The tyre industry in India is one of the most important industries of the country. This industry is comprised of not only the domestic companies but also all the multinational companies.
There is no doubt to the fact that the tyres are considered to be a necessary part of any vehicle. Tyres should also be of the best quality so that the drive is not only pleasant but also safe. Tyre has a major relationship with the efficiency of fuel. It is also responsible for keeping the vehicle safe and stable. Tyres are divided into two important categories, the tubeless tyres and the tube tyres.
There are a number of companies in India, both big and small, that manufacture tyres of great quality at decent prices. The tyre industry in this country has been growing steadily over the years. According to records, almost 9 crore tyres are produced every year. Among the different kinds of tyres available, the passenger car tyres are the maximum in the country.
Given below are a list of the top ten largest tyre manufacturing companies in India in 2017-2018
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10. Modi Rubber Limited
Modi Rubber Limited is amongst the largest tyre manufacturing companies in India. This company has been manufacturing tyres for many years, and the tyres are of premium quality. The company ranks 10th among all the other companies that are present in India. Modi Rubber Limited is swiftly growing with each passing year. The company is known to have crossed a mark of 22 crores the last year.
9. Dunlop India
Dunlop India is one of the largest and a renowned tyre manufacturing company in India. Dunlop India is owned by the very famous Ruia Group. This company had started manufacturing tyres in the year 1896. The tyres that were marketed by this company were the cycle tyres. With time, the business started growing. Currently, Dunlop India is one of the most trusted tyre brands in the country. It is also known to hold a share of the tyre segment in India. Tyres manufactured are of different types, and this includes the Farm Tyres, the Bus Tyres, the Truck Tyres, the Motorcycle Tyres, and so on.
8. PTL Enterprises
PTL Enterprises is also one of the largest manufacturers of tyres in India. The company is very famous and it also had the market capitalisation of around 284 crores. The headquarters of this company is in Gurgaon, India. This company was established in 1959. The production of the tyres started in the year 1962, and the company has been providing tyres of the best quality ever since.
Goodyear is a very popular and renowned tyre company which ranks the 7th in manufacturing tyres in India. This is an American Tyre Company which produces the best quality tyres which are available for different prices. The company was incorporated in 1898. This American Company stepped into India in 1922 and has been producing tyres since then. Currently, it stands as one of the leading tyre manufacturing companies of the country. Goodyear is famous for making tyres of good quality for vehicles like the farm equipment, cars, vehicles, etc.
6. TVS Srichakra
TVS Srichakra holds the sixth position in the list. This company is a part of the famous TVS Group, and it was established in 1892. It has emerged as one of the best and largest tyre manufacturers in India over the years. The tyres manufactured by the company are of different types and this includes the industrial tyres, motorcycle tyres, farm tyres, and so on. The company has the market capitalization of 2042 crores.
5. J K Tyre
J K Tyre is one of the most popular companies in the country which has the market capitalization of around 2631 crores. It occupies the fifth position when it comes to manufacturing the tyres. This company was established in 1974, and it has been manufacturing the best quality tyres since then. There are a total of around six plants for manufacturing tyres in India. J K Tyres has won multiple awards for the best quality tyres. The company manufactures different kinds of tyres which include tyres of cars, farm vehicles, commercial vehicles, etc.
Ceat is one of the leading manufacturers of tyre in the country. This company was incorporated in 1958. The company is an eminent part of the renowned RPG group. The headquarters of the famous company is located in Mumbai. Tyres are made for different kinds of vehicles which include the commercial vehicles, tractors, motorcycles, etc. Ceat has shown a lot of growth over the past few years. The company has a very strong network and there are around 3500 dealers and around 250 distributors.
3. Balkrishna Industries Limited
The Balkrishna Industries Limited is another important tyre company which had been established in 1987. The company is famous for manufacturing tyres for different kinds of heavy vehicles, which include the agricultural vehicles and the industrial vehicles. There are five important manufacturing companies in India. The tyres are of high quality which are exported to almost hundred companies.
2. Apollo Tyres
Apollo Tyres is the second largest tyre manufacturing company in the country. This company was incorporated in 1972. Since then, Apollo Tyres has been manufacturing tyres and it has grown into one of the top manufacturers of tyres not only in India but all around the world. The company stands with the market capitalization of around 10,521 crores. The tyres of Apollo Tyres are sold in over hundred countries.
1. MRF Tyres
MRF Tyres are the largest manufacturers of the high quality tyres in India. The company is known to have the market capitalization of around 16744 crores. This company was incorporated in 1946. MRF is recognized all over the world for the tyres, the pretreads, the conveyor belts, and a number of other products. The tyre variants manufactured by this company includes the Wanderer, ZVTS, ZLX, ZEC, etc. The company was known to generate an annual revenue of around 14,600 Crores last year.
There are a number of other tyre manufacturing companies as well who are competing with these companies to acquire the top most position in the country. The tyres manufactured should be able to guarantee the safety and security of the vehicles to prevent any kind of mishap.