The global transition to electric mobility is offering the tyre industry with enticing new challenges and possibilities. With the automotive sector significantly expanding, particularly in India, the necessity for long-lasting and efficient EV tyres is becoming increasingly crucial. The Indian government's emphasis on reducing emissions and encouraging sustainable transportation is propelling the EV tyre industry forward. As EV technology advances, so will the demand for specialized tyres that can achieve the unique performance requirements of such vehicles.
India is one of the countries in the world that encourages and promotes the use of clean mobility. By 2030, India has a target to replace 30 per cent of its transportation industry with EVs and according to a Mckinsey report, sales of new E2Ws and E3Ws might increase to 50 per cent and 70 per cent, respectively, by 2030, with over 20 new E2W models expected to be launched by 2025.
Tyre industry is going to be a major stakeholder in the auto industry’s transition to EVs. These vehicles produce less friction and wear on their tyres compared to ICE vehicles. This is because EVs have a much lower centre of gravity and distribute weight evenly, reducing the stress on the tyres. Furthermore, the lack of transmission and gears in EVs means that there is less mechanical stress on the tyres, leading to a longer lifespan. As a result, tyre manufacturers can expect to see a reduction in demand for replacement tyres, which can help to increase their bottom line.
Unlike traditional vehicles, EVs require less rolling resistance but more handling, and operate at different speeds. These factors necessitate the development of new tyre technologies that can effectively handle the unique demands of EVs. Tyre manufacturers are notably investing in research and development to create specialised tyres that are optimised for EVs and can improve the overall performance and efficiency of these vehicles.
The shift to EVs is expected to drive down the cost of batteries and other components, making EVs more affordable and accessible to the general public. This increased accessibility is likely to result in a surge in demand for EVs, and the tyre industry is well-positioned to capitalise on this growth. Tyre manufacturers can also leverage their expertise in rubber production and tyre design to offer tyre recycling and retreading services for EVs. This will help to reduce waste and conserve resources. As EVs become more widespread, the tyre industry is poised to benefit from increased sales of specialised tyres.
However, the transition to EVs is not without its challenges. One of the main challenges for the tyre industry is the lack of standardisation in the EV market. With so many different types of EVs and charging systems, tyre manufacturers must be able to design and produce tyres that are compatible with a wide range of vehicles and charging systems. This requires significant investment in research and development and a deep understanding of the needs of different EV manufacturers and customers.
Another challenge for the tyre industry is the high cost of specialized tyres. While these tyres will offer numerous benefits, they would be more expensive than traditional tyres, which may limit their uptake among consumers. Tyre manufacturers must find ways to reduce the cost of specialised tyres while maintaining their quality and performance, in order to make them more accessible to consumers.
The purpose is to better and quickly adapt to the changing automobile landscape and manufacture tyres that fit best with the existing as well as the large number of upcoming EVs. Bringing in new materials in the manufacturing of tyres that will help in noise cancellation, controlling wear and tear and giving better rolling resistance.
In conclusion, with the country's goal to maximise the adoption of Electric Vehicles & achieve complete electrification by 2030, it is creating massive opportunities for the EV tyre industry to grow and evolve in the country to contemplate in the future. Tyre manufacturers that are able to adapt to this changing landscape and seize these opportunities will be well-positioned to thrive in a more electrified future.
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