Two-Wheeler Tires Market is Forecasted to Reach US$ 18.4 Billion in 2027, Says Stratview Research

Stratview Research, a global market research firm, has launched a report on the global Two-Wheeler Tires Market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging market trends, segment analysis, competitive landscape, & more.

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Market Statistics:

Market Size in 2021: US$ 13.19 billion

Market Size in 2027: US$ 18.4 billion

Growth (CAGR): 5.5% during 2022-2027

Leading Application Type: Motorcycle

Leading Tire Type: Radial tires

Leading End-User Type: Aftermarket

Leading Region: Asia-Pacific

Forecast Period: 2022-2027

Trend Period: 2016-2020

Base Year: 2021

Number of Segments Covered: 4

Number of Tables & Graphs: 100+

Country-Level Market Assessment: 20

Segment Insights & Market Share Analysis of the Two-Wheeler Tires Market:

The global Two-Wheeler Tires Market is segmented based on Application type, Tire type, End-User type and region.

Based on Application Type

"The motorcycle accounted for a market share of more than 60% in 2021"

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 for market demand.

Based on Tire Type

"Radial tires dominated the market with a share of more than 50% in 2021"

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 fastest-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.

Based on End-User Type

"The aftermarket segment accounted for a significant share of more than 70% in 2021"

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 fastest-growing end-user type in the market during 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.

To know the most attractive segments, click here for a free sample of the report:

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Which region shows the most promising growth forecast and opportunity?

The analysis suggests that 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. This growth outlook is mainly attributed to the following:

-       The demand for two-wheelers is largely influenced by a country's economic stability and average income levels.

Likewise, 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. 

Two-Wheeler Tires Market Drivers:

Some of the key drivers listed in the report are given 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.

Competitive Landscape: Top 10 Companies in the Two-Wheeler Tires Market:

The market is moderately fragmented, with over 20 players. Most of the major players compete on some of the governing factors, including price, service offerings, regional presence, etc. Stratview Research has identified the following companies as the top market players:

·      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

·      Yokohama Rubber Co. Ltd.

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the data center liquid cooling market, answering critical questions like

-       How big is the sales opportunity?

-       Which regions offer the best sales opportunities?

-       Which are the most attractive market segments?

-       Which are the top players and their market positioning?

-       How complex is the business environment?

-       What are the factors affecting the market?

For Customization or Any Other Queries, get in Touch with our industry experts at sales@stratviewresearch.com

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Stratview Research is a global market research and consulting firm that highly specializes in IT & telecom, aerospace & defense, chemicals, and a few other industries.

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