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

The global Two-Wheeler Tires market size was valued at US$13.19 billion in 2021 and is projected to reach US$18.4 billion by 2027, witnessing a market growth CAGR of 5.5% from 2022 to 2027, according to an analysis by 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: Motorcycles
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 the Application type -

- 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 the Tire type -
- 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.

Which region shows the most promising growth forecast and opportunity?

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

- The increasing levels of urbanization as well as the growing acceptance of motorcycles and scooters in newly industrialized economies. Challenges include the possibility of creating long-lasting, fuel-efficient tires, and the use of better environmentally friendly materials.
- Another advantage of the analyzed company includes the diversification of sales channels through the advancement of e-commerce and other digital platforms. Moreover, the increasing use of electric two-wheelers also creates another valued segment for specialized tires for energy-efficient performance.

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

Most of the major players compete in some of the factors, including price, service offerings, regional presence, etc. The following are the key players in the Two-Wheeler Tires Market:

• 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.

Note: The above list does not necessarily include all the top players in the market.

Are you the leading player in this market? We would love to include your name. Please write to us at sales@stratviewresearch.com

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What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the Two-Wheeler Tires 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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