The two-wheeler tire market is fragmented, and the degree of fragmentation is expected to remain the same by 2023. An outlook of accelerating growth would provide opportunities to all market participants to grow. Market participants should focus on the opportunities on the demand side rather than getting overly impacted with the competitive dynamics. The accelerating growth momentum will be one of the contributing factors moderating the competitive intensity in the market over the forecast period.
Some of the key findings from our global two-wheeler tire market forecast report are summarized below
Motorcycles was the largest segment within the overall market in 2018 and will continue to remain so in 2023. The growth rate of the scooters segment will be faster than the global market growth during the forecast period 2019-2023. However, the growth rate of the motorcycles segment will be slower than the overall market growth.
To identify growth opportunities in the two-wheeler tire market, the market has been segmented into regions that are growing faster than the overall market. These regions have been pitted against regions that have a slower growth rate than the global market in 2018-2023. Europe, Middle East and Africa, and South America will grow faster than the overall market. APAC and North America’s growth will be slower than the global market.
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This two-wheeler tire market report provides a detailed analysis of the market by application (motorcycles and scooters) and geography (APAC, Europe, the Middle East and Africa, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors including Bridgestone Corporation, Continental AG, JK TYRE & INDUSTRIES LTD, MRF, TVS SRICHAKRA LIMITED, and ZC-RUBBER.
Global two-wheeler tire industry overview
High-performance tires are generally used in heavyweight motorcycles and sports motorcycles to enhance their performance. These tires provide firm grip and performance to the bikes even at high speeds. With the growing popularity and increasing demand for sports and heavyweight motorcycles, the demand for high-performance two-wheeler tires will also grow. The demand for high-performance electric motorcycles is also growing especially in developed economies. These motorcycles are increasingly adopting high-performance tires to minimize their energy consumption. The growing demand for high-performance tires will be one of the key trends that will boost the growth of the two-wheeler tire market.
The recent years witnessed a rapid rise in new two-wheeler sales, especially in emerging economies. This subsequently drives the demand for two wheeler tires as they are subject to high wear and tear. The demand for two-wheeler replacement tires is high in countries such as India, China, Vietnam, Indonesia, and Thailand. Mature automobile markets such as the US, Japan, and countries in Western Europe are also registering the high sale of two-wheeler tires because of the widening pool of aging two-wheelers. With the growing number of two-wheelers across the world, the need for replacement tires will drive two wheeler tire market growth at a CAGR of almost 10% during the forecast period.
Top companies covered in the two-wheeler tire market research report
The global two-wheeler tire market is fragmented. To help clients improve their market position, the report provides an analysis of the market’s competitive landscape and offers information on the products offered by companies. Moreover, the two wheeler tire market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make most of the future growth opportunities.
The report offers a detailed analysis of several leading two-wheeler tire manufacturers, including:
- Bridgestone Corporation
- Continental AG
- JK TYRE & INDUSTRIES LTD
- MRF
- TVS SRICHAKRA LIMITED
- ZC-RUBBER
Two-wheeler tire market segmentation based on application
- Motorcycles
- Scooters
The motorcycles segment will account for the highest two-wheeler tire market share. The growing affordability of motorcycles will be one of the significant factors driving the growth of the global two wheeler tire market in the segment.
Two-wheeler tire market segmentation based on geographic region
- APAC
- Europe
- The Middle East and Africa
- North America
- South America
With a complete study of the growth opportunities for companies, it has been identified that APAC will account for the highest two-wheeler tire market share throughout the forecast period. The adoption of commuter scooters and motorcycles and the rising number of high net worth individuals (HNWIs) are some of the factors responsible for the high two-wheeler tire market growth in the region.
Key highlights of the global two-wheeler tire market for the forecast years 2019-2023:
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the two-wheeler tire market during the next five years
- Precise estimation of the global two-wheeler tire market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the industry across APAC, Europe, the Middle East and Africa, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details of factors that will challenge the growth of the companies
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