Two-wheeler Tire Market Size, Report, Outlook 2022-2030
The global Two-wheeler Tire market gathered revenue around USD 14.7 billion in 2021 and market is set to grow USD 20.9 billion by the end of 2030 and is estimated to expand at a modest CAGR of 3.82% during the prediction period 2022 to 2030.
Growth Factors:
The global two wheeler tires market is expected to exhibit a strong growth over the course of the forecast period. The report on global two wheeler tires has been minutely studied and researched upon by Nova One Advisor. The market research report presents a comprehensive analysis of the global two wheeler tires market along with an outline of the competition existing among the core players operating in the market. The vendor landscape section includes several aspects of key players such as product portfolio, innovation and developments core strategies, prime personnel, geographical area covered, acquisitions, mergers, agreements, and other financial and non-financial strategies. The presence of leading players is expected to trigger intense competition in the market amongst them making this oligopolistic market. On the other hand, small-scale players are witnessing increasing challenges in gaining hold on the market. Owing to incorporation of advanced technology in these tiress, new comers might face difficulties in venturing into the market. The leading companies operating in the market are Apollo Tyres Ltd., Bridgestone Corporation, CEAT Limited, Deestone Company Limited, JK Tyre& Industries, and MRF Limited, among many others.
Report Coverage
| Report Scope | Details |
| Market Size | USD 20.9 billion by 2030 |
| Growth Rate | CAGR of 3.82% From 2022 to 2030 |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Report coverage | Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
| Segments Covered | Tire Type, Tube Specification, 2W Type, Sales Channel, Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Companies Mentioned | Apollo Tyres Ltd.,Bridgestone Corporation,CEAT Limited,Cheng Shin Rubber Ind. Co. Ltd.,Continental Tire,Dunlop,Giti Tire Pte. Ltd.,Goodyear,Hangzhou Zhongce Rubber CO. LTD.,Hankook Tires,JK,Tyre & Industries Ltd. |
Drivers of Two-wheeler Tire Market
· Growing consumer trend toward online shopping where two-wheelers are majorly preferred for delivery of goods, which is anticipated to increase the demand for two-wheelers and consequently, fuel the two-wheeler tire market across the globe. Rise in maintenance and services of two-wheelers is also projected to boost the two-wheeler tire market.
· Enactment of stringent emission norms across the globe and an increase in environment protection awareness across the globe are estimated to propel the demand for electric two-wheelers, which, in turn, is also likely to boost the two-wheeler tire market across the globe. Major two-wheeler manufacturers offer various schemes and discounts on two-wheelers, which is likely to increase the sale of two-wheeler and propel the two-wheeler tire market.
Challenges for Two-wheeler Tire Market
· Wide spread of the pandemic across the globe led to a sharp decline of motorcycle production and delivery across the globe due to a full or partial shutdown of manufacturing and distribution facilities. Disruptions in logistics distribution in almost all countries continued also in the second half of the year and, in some cases, additional lockdowns were announced. The COVID-19 pandemic has caused a majority of businesses across the globe to crumble, owing to forced shutdown of production and manufacturing activities, which hampered major automotive companies across the globe.
· Volatility in raw material prices has severely affected the costing of the tire. Prices of raw material, such as natural rubber and synthetic rubber, fluctuate due to shortage of natural rubber cultivation or rise in Brent crude price. This, in turn, is likely to fuel the overall cost of tires.
Two-wheeler Tire Market Segmentation
· The global two-wheeler tire market has been segmented based on tire type, tube specification, rim size, 2W type, and sales channel
· Based on tire type, the pneumatic tires segment dominated the global two-wheeler tire market, in terms of volume and revenue, in 2020. Major two-wheeler manufacturers offer pneumatic tires on their vehicles, as they provide better cushioning and traction while riding. Pneumatic tires are better able to absorb bumps on the road as compared to solid tires.
· Based on tube specification, the tubeless tires segment held a significant share of the global market, in terms of revenue, in 2020. Tubeless tires have slow rate of deflation and can offer low resistance while driving; consequently, majority of motorcycles are fitted with tubeless tires. Tubeless tires are more fuel-efficient as compared to tube tires, which is likely to increase the demand for tubeless tires across the globe.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Some of the prominent players in the Two-wheeler Tire Market include:
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:
Tire Type
Pneumatic Tire
Solid/Others (Advanced Tire)
Tube Specification
Tube Tire
Tubeless Tire
Rim Size
Less than 10 Inches
10-13 Inches
14-17 Inches
18-21 Inches
More than 21 Inches
2W Type
ICE Motorcycle
ICE Scooter/Moped
Electric Motorcycle
Electric Scooter/Moped
Sales Channel
OEM
Aftermarket
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Two-wheeler Tire market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Two-wheeler Tire market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Two-wheeler Tire markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in Two-wheeler Tire Market Study:
Cross-segment Market Size and Analysis for Mentioned Segments
Additional Company Profiles
(Upto 5 With No Cost)
Additional Countries (Apart
From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers