Two-Wheeler Tire Market 2021-2026 skyrocketed revenue with key players Market Continental AG, MRF Tires, Pirelli & C. S.p.A., Michelin SCA

Latest research on Two-Wheeler Tire Market report covers forecast and analysis on a worldwide, regional and country level. The study provides historical information of 2016-2021 together with a forecast from 2021 to 2026 supported by both volume and revenue (USD million). The entire study covers the key drivers and restraints for the Two-Wheeler Tire market. This report included a special section on the Impact of COVID19. Also, Two-Wheeler Tire Market (By major Key Players, By Types, By Applications, and Leading Regions) Segment’s outlook, Business assessment, Competition scenario and Trends. The report also gives 360-degree overview of the competitive landscape of the Two-Wheeler Tire industry.

Two-Wheeler Tire market is growing at a CAGR of 7% during the forecast period (2021-2026).

The Two-Wheeler Tire market is highly competitive and consists of a number of major players. Top Companies like Continental AG, MRF Tires, Pirelli & C. S.p.A., Michelin SCA, Kenda Rubber Industrial Company, Bridgestone Corporation, Goodyear Tire & Rubber Company, Hangzhou Zhongce Rubber Co. Ltd., Giti Tire Pte. Ltd., Apollo Tires

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Industry News And Developments:

July 2019, the German tire manufacturer Continental has announced setting up of a new plant for two-wheeler tires in Thailand by investing USD 30 million. The operations are expected to start from 2021.

Scope of the Report

- The market is primarily driven by the demand for two wheelers in the region. Also, the rise in urbanization and lack of infrastructure for four-wheeler parking is expected to act in favor. This subsequently is expected to help the market for two-wheeler tires.

- In 2019, the sales figures for 2-wheelrs were up by almost 8% in Europe. The motorcycle demand in 2020, was up by 11% in January, 7.1% in February but later-on fell 35% due to the Lockdown imposed in the region amid COVID-19.

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Key Market Trends

Two-Wheeler Sales in the Region is Enhancing the Demand for New Tires

The convenience of commuting on a two-wheeler rather than on a four-wheeler in the crowded urban places, is one of the factors for increased demand for motorcycles and scooters in the region. With the increase in pollution levels and decrease in air quality in Europe, electric scooters and motorcycles are seeing a spike in demand. Some European countries are taking steps to further facilitate the shift away from gas-powered scooters and towards electric two-wheelers. Even without government sponsored grants and credits, other European countries still experienced big growth in electric two-wheeler sales. During the year 2019, sales growth accelerated, and the segment created a solid demand, achieving a record sale of nearly 62,000 units. Several big players in the two-wheeler industry are present in the region like, BMW, Piaggio which manufactures Vespa, Moto Guzzi, Aprilia and KTM – Europe’s largest manufacturer of big motorbikes. BMW sales grew with 7.3%, Piaggio by around 6% and KTM also witnessed growth in sales. A total of 1,079,524 motorcycles were registered in 2019 in the EU. Within this, registrations of electric mopeds increased substantially from 39,940 units in 2018 to 59,776 units in 2019 (+49.7%). Owing to these factors, the demand for tires is expected to witness positive growth.

France Expected to be the Largest Market

During the year 2019, two-wheeler sales in Europe was dominated by France, with motorcycles sales up by 15.7% from 2018 sales. The driving factor for sales of two-wheeler in the region are the increase in spending capacity of the individuals in the country. There was a high demand for 50 cc scooters in the country and sales grew around 25% from those of 2018. These strong demand for two wheelers in the country is enhancing the demand for two-wheeler tires for both OEMs and aftermarket demand. The major players in the country are investing in research and development to launch innovative products for end customers to meet the road conditions for high safety. For instance, in October 2019, Michelin revamped its Power tire range, which was launched in 2016, with the addition of the Power Road, a tyre intended to be a really good all-rounder and suitable for 80% of riding conditions i.e. from training to racing.

What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: Two-Wheeler Tire Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

The research includes historic data from 2015 to 2020 and forecasts until 2026 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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