Two-Wheeler Tire Market Trends and Market Analysis forecasted for period 2024-2031
Market Overview and Report Coverage
A two-wheeler tire is a type of tire specifically designed for motorcycles, scooters, bicycles, and other two-wheeled vehicles. These tires play a crucial role in ensuring safe and efficient mobility for riders.
The Two-Wheeler Tire Market is expected to grow at a CAGR of % during the forecasted period. The future outlook of this market looks promising, with increasing demand for two-wheeler vehicles across the globe. The current market is witnessing significant growth due to factors such as urbanization, rising disposable income, and growing awareness about the importance of road safety.
Market players are focusing on developing innovative products with advanced technologies to improve tire performance and durability. The increasing adoption of electric two-wheelers is also expected to drive market growth in the coming years. Additionally, government regulations promoting the use of eco-friendly vehicles are likely to boost the demand for two-wheeler tires.
Overall, the Two-Wheeler Tire Market is poised for steady growth, with the potential for expanding market share and new opportunities in the near future.
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Market Segmentation
The Two-Wheeler Tire Market Analysis by types is segmented into:
- Motorcycle
- Scooter
- Moped
- Other
Two-wheeler tire market includes three main categories: motorcycle, scooter, and moped tires. Motorcycle tires are designed for high-performance bikes, providing stability and grip for fast and sharp turns. Scooter tires are smaller and more lightweight, perfect for urban commuting and shorter distances. Moped tires are typically smaller and have less tread depth, suited for lower speed and shorter rides. Additionally, there is a market for other types of two-wheeler tires, such as electric bicycles and dirt bikes, each catering to specific needs and riding conditions.
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The Two-Wheeler Tire Market Industry Research by Application is segmented into:
- OEMs
- Replacement
The two-wheeler tire market includes both original equipment manufacturers (OEMs) and the replacement market. OEMs provide tires to be fitted on new motorcycles and scooters during production, while the replacement market involves consumers purchasing new tires when their existing ones wear out. Both segments contribute to the overall demand for two-wheeler tires, with OEMs catering to new vehicle sales and the replacement market addressing the need for tire replacements on existing vehicles.
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In terms of Region, the Two-Wheeler Tire Market Players available by Region are:
North America:
- United States
- Canada
Europe:
- Germany
- France
- U.K.
- Italy
- Russia
Asia-Pacific:
- China
- Japan
- South Korea
- India
- Australia
- China Taiwan
- Indonesia
- Thailand
- Malaysia
Latin America:
- Mexico
- Brazil
- Argentina Korea
- Colombia
Middle East & Africa:
- Turkey
- Saudi
- Arabia
- UAE
- Korea
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What are the Emerging Trends in the Global Two-Wheeler Tire market?
The global two-wheeler tire market is experiencing several emerging trends, including the growing demand for electric scooters and motorcycles, leading to a surge in the production of tires suitable for these vehicles. Additionally, there is an increasing emphasis on developing durable and high-performance tires to enhance safety and reliability for riders. Furthermore, the adoption of advanced technologies such as airless tires and smart tires with integrated sensors is on the rise. Current trends in the market include the expansion of product offerings by key players, increasing competition leading to price wars, and the rising popularity of tubeless tires among consumers.
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Major Market Players
Bridgestone, Michelin, and Continental are some of the key players in the two-wheeler tire market. Bridgestone, as a global leader in the tire industry, has a strong presence in the two-wheeler tire market with a wide range of products catering to different segments of motorcycles and scooters. Michelin, known for its innovative tire technology and high-quality products, also holds a significant market share in the two-wheeler tire segment. Continental, a German multinational company, is a major player in the two-wheeler tire market with a focus on enhancing safety and performance.
In terms of market growth and trends, the two-wheeler tire market is expected to witness steady growth due to the increasing demand for motorcycles and scooters worldwide. Rising urbanization, improved infrastructure, and changing consumer lifestyles are driving the demand for two-wheeler tires. The market size of the two-wheeler tire industry is estimated to be in the billions of dollars, with key players competing for a larger share of the market.
Sales revenue for some of the top players in the two-wheeler tire market is as follows: Bridgestone reported sales revenue of over $33 billion in 2020, Michelin reported sales revenue of approximately $25 billion in the same year, and Continental reported sales revenue of over $44 billion in 2020. These figures highlight the significant revenue generated by these companies in the two-wheeler tire market and their competitive positions in the industry.
In conclusion, the two-wheeler tire market is witnessing growth and expansion with key players such as Bridgestone, Michelin, and Continental leading the market with their innovative products and strong market presence. As the demand for motorcycles and scooters continues to rise, these companies are expected to further strengthen their positions in the two-wheeler tire industry.
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