Two-wheeler Tires Market Sales to Reach USD 21.8 Billion by 2034, Fueled by Growing Demand in Urban Mobility - Exclusive report by TMR

Two-Wheeler Tires Market Outlook 2034

The global two-wheeler tires market is undergoing robust expansion, propelled by a surge in urban mobility solutions, rising demand for fuel-efficient transport, and increased adoption of electric two-wheelers. In 2023, the market was valued at US$ 9.3 billion and is projected to expand at a CAGR of 8.0% from 2024 to 2034, ultimately reaching a market size of US$ 21.8 billion by the end of 2034.

Growth is driven by rapid urbanization, the proliferation of delivery-based services, and technological advancements in tire materials and tread design that enhance durability, safety, and fuel efficiency.

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Analysis of Key Players in the Two-Wheeler Tires Market

The two-wheeler tires market is being actively shaped by a diverse group of global and regional manufacturers leveraging innovative technologies, strategic alliances, and evolving business models. These players are continuously focusing on developing high-performance and energy-efficient tire solutions to meet the rising demands of both urban mobility and premium motorcycle segments.

Prominent manufacturers in the market include:
• Apollo Tyres Ltd.
• MRF Limited
• CEAT Limited, Bridgestone Corporation
• Continental Corporation
• Deestone, Giti Tire Pte. Ltd.
Goodyear Tires, Hankook Tires, JK Tyre & Industries Ltd., Kenda Tires, LEVORIN, Metro Tyres Limited, Metzelers, Michelin, Pirelli & C. S.p.A, RALCO Tires, Sailun Tires, Timsun Tires, Vee Rubber, and Yokohama Tires.

These companies are profiled in industry reports based on their company overview, financial performance, product innovations, business strategies, and recent developments.

Key Developments in the Two-Wheeler Tires Market

• January 2024 - CEAT Ltd. began production of steel radial tires for two-wheelers. The new range includes Sportrad and Crossrad tires, tailored for high-performance motorcycles, as part of CEAT's strategy to strengthen its foothold in the premium two-wheeler segment.

• July 2023 - MRF Ltd., India's largest tire manufacturer, introduced steel brace radial tires designed for high-end motorcycles, including models from KTM, Royal Enfield, Bajaj, Honda, and Triumph, signaling its focus on performance-driven tire solutions.

• November 2022 - Apollo Tyres launched the Vredestein Quatrac Pro EV, a set of all-season tires developed specifically for battery electric two-wheelers and passenger vehicles. This marks a significant step in the company's push toward electrification and sustainability.

The market is experiencing robust competition and innovation, particularly in the areas of radial tire technology, electric vehicle compatibility, and high-performance applications. Strategic moves by leading players suggest a shift toward premium offerings and eco-friendly products.

Key Drivers of Market Growth

1. Rising Urbanization and Personal Mobility
In densely populated regions across Asia-Pacific, Latin America, and Africa, motorcycles and scooters are increasingly becoming the preferred mode of transport due to their affordability, agility, and low maintenance. As cities expand, the need for reliable two-wheeler tires grows in tandem.

2. Boom in E-Commerce and Last-Mile Delivery
The exponential rise of the gig economy and hyperlocal delivery networks has triggered a boom in motorcycle fleets, particularly for food delivery and courier services. These fleets generate frequent tire replacement demand, boosting the aftermarket segment.

3. Shift Toward Electric Two-Wheelers
Electric two-wheelers are gaining global traction as governments incentivize EV adoption and consumers seek eco-friendly alternatives. EV-specific tire development, with optimized rolling resistance and load-bearing capacities, is emerging as a key trend in the market.

4. Innovation in Tire Design and Materials
Manufacturers are investing in tubeless and radial tire technologies, which offer longer life, better heat dissipation, and improved road grip. Additionally, advancements in silica-based compounds and smart tire technologies are enhancing performance and user safety.

5. Expanding Aftermarket Sector
Rising vehicle parc (vehicles in use) globally is leading to strong aftermarket growth. The replacement tire market, particularly in countries with poor road infrastructure, presents a steady revenue stream for both global and regional tire manufacturers.

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Key Market Segments

1. By Tire Type
• Tubed Tires: Traditional tires still used in developing markets for their cost-effectiveness.
• Tubeless Tires: Gaining widespread adoption due to their better heat resistance, lower maintenance, and safety features.

2. By Vehicle Type
• Motorcycles: Represent the majority share, especially in markets like India, Indonesia, and Brazil.
• Scooters: Witnessing rapid growth, particularly among urban commuters and female riders.
• Electric Two-Wheelers: Fast-growing segment driven by regulatory support and green mobility trends.

3. By Sales Channel
• OEM (Original Equipment Manufacturer): Benefiting from rising two-wheeler production.
• Aftermarket: Largest contributor to revenue due to frequent tire replacement cycles.

Regional Outlook

Asia-Pacific
The largest market, led by India, China, Indonesia, and Vietnam, where two-wheelers are a primary mode of transport. Government policies supporting EVs and improving road networks are accelerating demand.

Latin America
Strong growth expected due to rising urbanization and economic improvements in Brazil, Colombia, and Argentina.

Africa
A nascent but promising market, driven by increasing motorcycle usage for personal and commercial purposes, especially in Nigeria, Kenya, and South Africa.

Europe and North America
Mature markets with growing electric scooter adoption in urban centers and rising recreational use of motorcycles.

Opportunities and Challenges

Opportunities
• Smart tires with embedded sensors for EVs and safety monitoring.
• Lightweight, energy-efficient tire solutions tailored for e-scooters.
• Green tires made from sustainable materials.
• OEM collaborations for next-gen mobility solutions.
Challenges
• Price sensitivity in emerging markets limits premium tire adoption.
• Supply chain disruptions impacting raw material costs and delivery schedules.
• Intense competition from local manufacturers affecting profit margins.

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Why Buy This Report?

• Detailed forecast (2025-2034) on global two-wheeler tire market trends across key segments.
• In-depth profiles of top players with focus on innovation, regional strategies, and market share.
• Technology trends in EV-ready tires, radial and tubeless designs, and sustainable manufacturing.
• Competitive benchmarking across OEM and aftermarket channels.
• Actionable insights for investment planning, product development, and market entry strategies.

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