The market is Segmented by Application Type (Motorcycles and Bicycles), Tire Type (Radial Tires and Bias Tires), End-User Type (OE and Aftermarket), and Region (North America, Europe, Asia-Pacific, and the Rest of the World).
The market is Segmented by Application Type (Motorcycles and Bicycles), Tire Type (Radial Tires and Bias Tires), End-User Type (OE and Aftermarket), and Region (North America, Europe, Asia-Pacific, and the Rest of the World...
The two-wheeler tire market is estimated to grow from USD 13.19 billion in 2021 to USD 18.4 billion by 2027 at a healthy CAGR of 5.5% during the forecast period.
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What are two-wheeler tires?
Two-wheeler tires, also known as motorcycle tires or scooter tires, are specifically designed and manufactured for use on two-wheeled vehicles. These tires play a critical role in ensuring safe and efficient performance on motorcycles, scooters, and other similar vehicles
Two-Wheeler Tires Market Report Overview
Market Size in 2027
USD 13.19 Billion
Market Size in 2021
USD 18.4 Billion
Market Growth (2022-2027)
CAGR of 5.5%
Base Year of Study
2021
Trend Period
2016-2020
Forecast Period
2022-2027
COVID-19 Impact Analysis
The COVID-19 pandemic, on the other hand, has had a significant impact on the two-wheelers market in 2020, leading to a decline of -8.8% in the market. However, the two-wheelers market is expected to regain its momentum, whose similar reflections are likely to be imprinted on the demand for tires.
Market Dynamics
The two-wheeler tiresmarket is driven by a host of factors, some of which are noted below:
There are more two-wheelers in developing countries around the world as they are more affordable due to lower per-capita income.
The relatively low cost of ownership of a two-wheeler.
The growing global population has added to the demand for two-wheelers.
Two-wheelers are in high demand because they reduce carbon emissions and provide a more affordable mode of transportation than three or four-wheelers.
Improvements in road infrastructure and the introduction of electric two-wheelers to reduce carbon emissions have contributed to the recent surge in demand for two-wheelers.
Segment Analysis
Application Trends
The market is segmented into motorcycles and bicycles. The motorcycle accounted for a market share of more than 60% in 2021 & is expected to be the dominant application type in the market, generating demand for two-wheeler tires during the forecast period.
Because of the increasing demand for motorcycles for transportation, adventure, sports, and other purposes, manufacturers have been able to design a wider range of tires, which is further acting as a catalyst to the market demand.
Tire Trends
The market is segmented into radial tires and bias tires. Radial tires dominated the market with a share of more than 50% in 2021 and are expected to be the faster-growing tire type in the market during the forecast period.
Better durability, increased safety, and reduced vibration are all factors contributing to the tremendous growth of the radial tires segment. The thriving two-wheeler industry is expected to drive even more demand for these tires in the coming years.
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End-User Trends
The market is segmented as OE and aftermarket. The aftermarket segment accounted for a significant share of more than 70% in 2021 & is expected to be the dominant as well as the faster-growing end-user type in the marketduring the forecast period.
The aftermarket segment accounts for a larger share of the market due to the frequent wear and tear of tires, which necessitates tire replacement regularly.
Regional Analysis
Asia-Pacific accounted for a market share of more than 70% in 2021 & is expected to remain the largest market for two-wheeler tires during the forecast period. The demand for two-wheelers is largely influenced by a country's economic stability and average income levels.
Countries in Asia-Pacific are the largest contributors to the two-wheeler demand and will continue to dominate the global demand in the future. China, India, and Indonesia are among the world's largest two-wheeler markets and will maintain their incontestable leads in the future.
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Segmentation
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market
The market is segmented into the following categories.
By Application Type
Motorcycles
Bicycles
By TireType
Radial Tires
Bias Tires
By End-User Type
OE
Aftermarket
By Region
North America (Country Analysis: USA, Canada, and Mexico)
Europe (Country Analysis: Germany, France, the UK, Turkey, Russia, and Rest of Europe)
Asia-Pacific (Country Analysis: Japan, China, India, and the Rest of Asia-Pacific)
Rest of the World (Country Analysis: Brazil, South Africa, and Others)
Key Players
The market is fragmented with the presence of a large number of players in the market. The following are some of the key players in the two-wheeler tires market -
Compagnie Generale Des Etablissements Michelin S.C.A.
Continental AG
Goodyear Tire and Rubber Company
MRF Tyres
Sumitomo Tires
Trelleborg AB
Yokohama Rubber Co. Ltd.
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’smarketrealities and future market possibilities for the forecast period of 2022 to 2027.
The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market What Deliverables Will You Get in this Report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth analysis of the two-wheeler tiresmarket
How lucrative is the future?
The market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and Forecast
Which are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
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10% free customization
Customization Options
Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Detailed profiling of additional market players (up to three players)
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Competitive Benchmarking
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
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Two-wheeler tires, also known as motorcycle tires or scooter tires, are specifically designed and manufactured for use on two-wheeled vehicles. These tires play a critical role in ensuring safe and efficient performance on motorcycles, scooters, and other similar vehicles.
Asia-Pacific acquired a market share of more than 70% in 2021 & is expected to remain the largest market for two-wheeler tires during the forecast period. Regular use of motorcycles in the region creates a demand for aftermarket tires, leading to a higher demand for tires in the region.
Motorcycle is likely to maintain their dominance in the market in the next five years, owing to greater distance coverage and a larger fleet than bicycles.
Apollo Tyres Limited, Bridgestone Corporation, Ceat Limited, Compagnie Generale Des Etablissements Michelin S.C.A., Continental AG, Goodyear Tire and Rubber Company, MRF Tyres, Sumitomo Tires, Trelleborg AB, and Yokohama Rubber Co. Ltd. are some of the leading players in the market (arranged alphabetically). All of these companies benefit from the market's healthy growth and well-established supply chain.
Some of the major factors driving the market are There are more two-wheelers in developing countries around the world as they are more affordable due to lower per-capita income. The relatively low cost of ownership of a two-wheeler. The growing global population has added to the demand for two-wheelers.
Two-wheelers are in high demand because they reduce carbon emissions and provide a more affordable mode of transportation than three or four-wheelers.
