Press release
Tubeless Tire Market Estimated to Experience a Hike in Growth by 2021-2031
Companies Push Year-end Sales to Keep Economies Running amid COVID-19 OutbreakApart from cars, even two wheeler sales have been affected due to the COVID-19 outbreak. Companies in the two-wheeler tire market are entering the plug and play mode to adapt to fluctuating demand and supply trends. Festive season in India is anticipated to draw sales for two wheelers. Lucrative EMI (Equal Monthly Instalments) options, discounts, and reduction in interest rates are prominent trends in the India two-wheeler tire market during the pandemic.
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Relaxations in pandemic related restrictions are anticipated to revive market growth. Manufacturers are maintaining high inventory levels to push year-end sales, owing to the festive and wedding season in India. They are tapping into revenue opportunities due to the pent-up demand on account of the wedding season.
Can Wider Tires Replace Traditional Two-wheeler Tires?
Wider tires are gaining popularity in motor cycles. However, these tires are associated with disadvantages such as high overall cost and shorter lifespan. Nevertheless, advantages including greater cornering performance, improved tire appearance, and enhanced grip tend to offset the shortcomings of wider tires.
Manufacturers in the two-wheeler tire market are boosting production in wider tires since in dry weather conditions, these tires provide excellent cornering performance. Many riders enjoy the overall aesthetic appeal of wider tires. Due to more potential surface area for the wider tire to cover, there is a decreased interference from ground debris.
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Leading-edge Electric Scooters Gaining Prominence in India
The newly launched Ola Electric Scooter is gaining popularity in India. Growing awareness about emissions and rising fuel prices are anticipated to boost e-bike sales in India. Such trends are contributing to the growth of the India two-wheeler tire market. Stunning colors, large bootspace, and innovative headlamps are preferred in electric scooters. As such, e-bike providers are witnessing a relatively slow adoption for electric scooters, owing to high initial cost of e-bikes. Hence, stakeholders in the two-wheeler tire market are increasing ownership advantages such as home service and on the go charging to boost e-bike sales.
Easy cruise control in e-bikes is translating into revenue opportunities for two-wheeler tire manufacturers since leading-edge electric scooters help to automatically maintain a speed, thus eliminating the need for throttle input.
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About TMR
TMR is a leader in the market research space providing end-to-end business solutions and consulting services. TMR operates from its own office space of almost 10,000 sq. ft located in a prime commercial complex at Pune. We serve clients in 150 countries with an approach to deep dive into the economic aspects and geographical nuances for unfailing business intelligence.
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