Two-Wheeler Tire Market to Grow with a CAGR of 5.6% through 2028

The Global Two-Wheeler Tire Market is primarily driven by increasing urbanization and demand for affordable transportation options, coupled with a growing emphasis on fuel efficiency and eco-friendliness in vehicles. Additionally, rising disposable incomes and a thriving aftermarket for replacement tires further contribute to market growth.

According to TechSci Research report, “Global Two-Wheeler Tire Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Two-Wheeler Tire Market stood at USD 18 billion in 2022 and is anticipated to grow with a CAGR of 5.6% in the forecast period, 2024-2028.

The global two-wheeler tire market is experiencing significant growth driven by various factors. Firstly, the increasing sales of motorcycles worldwide have contributed to the surge in demand for two-wheeler tires. As more people embrace motorcycles as a means of transportation, the need for high-performance tires has also risen. Additionally, the growing popularity of off-road biking activities, riding clubs, and bike expeditions has further boosted the demand for two-wheeler tires. Enthusiasts are seeking tires that can withstand the rugged terrains and provide optimal performance during adventurous rides. Furthermore, the market growth is also influenced by the rise in electric and hybrid motorcycle production. With the increasing adoption of eco-friendly transportation, manufacturers are focusing on developing electric and hybrid motorcycles. This shift in the industry has created a demand for specialized tires that can cater to the unique requirements of these vehicles.

Moreover, advancements in tire technology have played a crucial role in the growth of the two-wheeler tire market. Manufacturers are continuously improving tire designs and materials to enhance performance, durability, and safety. The development of tubeless and puncture-resistant tires has particularly gained traction, providing riders with a hassle-free experience and reducing the risk of unexpected punctures. In conclusion, the global two-wheeler tire market is witnessing remarkable growth due to the combined impact of increasing motorcycle sales, the demand for high-performance tires, off-road biking activities, the rise of electric and hybrid motorcycles, and advancements in tire technology. This market trend indicates a promising future for the industry as it continues to cater to the evolving needs of two-wheeler enthusiasts worldwide.

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The global two-wheeler tire market is a dynamic and rapidly evolving segment of the automotive industry. It is currently experiencing significant growth, fueled by the rising demand for motorcycles and scooters across the globe. This surge in demand can be attributed to various factors such as urbanization, increasing disposable income, and the convenience and affordability of two-wheelers as a mode of transportation. As more people opt for motorcycles and scooters for their daily commute and recreational activities, the demand for high-quality and durable tires continues to rise. This presents a lucrative opportunity for tire manufacturers to innovate and cater to the specific needs of the two-wheeler market, ensuring safety, performance, and efficiency on the road.

The market's expansion is substantially influenced by the surge in motorcycle usage, especially in developing nations where two-wheelers are a popular mode of transportation. This is attributable to their cost-effectiveness, fuel efficiency, and the convenience they offer in navigating through traffic congestion prevalent in these regions.

Another significant factor contributing to the burgeoning market is the rise in sport and adventure biking activities. As more and more enthusiasts embrace biking as a thrilling and adrenaline-pumping outdoor pursuit, the demand for high-performance bikes has skyrocketed. These bikes, designed to withstand the rigors of challenging terrains and intense riding conditions, require the use of top-quality tires. By ensuring exceptional grip, durability, and puncture resistance, these tires not only enhance the overall biking experience but also prioritize rider safety. The growing recognition of these benefits has fueled the demand for premium tires, creating a significant boost in the market growth.

The industry is also witnessing technological advancements in tire manufacturing. Manufacturers are increasingly focusing on innovative designs and materials to improve tire performance, longevity, and eco-friendliness. For instance, the advent of tubeless tires and radial tires has revolutionized the industry.

However, the market also faces certain challenges that require careful consideration. Fluctuating raw material prices, driven by factors such as supply and demand dynamics, global economic conditions, and geopolitical events, can impact the cost structure of businesses operating in the market. Additionally, stringent environmental regulations aimed at protecting the planet and promoting sustainable practices pose compliance challenges for market participants. Furthermore, the persistent threat from counterfeit products not only undermines brand reputation but also poses risks to consumer safety and trust. These multifaceted obstacles collectively inhibit the growth potential of the market and necessitate strategic measures to overcome them effectively.

The market for tires is broadly segmented by type into bias and radial tires. Bias tires, with their diagonal ply construction, have been the dominant choice for many years. They are known for their cost-effectiveness, making them popular for low-speed vehicles. However, radial tires are gaining traction in the market. With their layered steel belt construction, they offer superior heat dissipation and longer tread life, making them a preferred choice for high-performance vehicles and demanding road conditions. As the demand for efficiency and durability increases, the competition between bias and radial tires continues to evolve, driving advancements in tire technology and offering more options for consumers.

By vehicle type, the market is divided into motorcycles, scooters, and mopeds. While motorcycles hold the major market share, scooters are witnessing a rapid growth rate because of their increasing popularity among women and the elderly.

Geographically, the Asia-Pacific region emerges as the dominant force in the global two-wheeler tire market. Notably, countries like India and China play pivotal roles as key contributors to this thriving industry. The remarkable growth in demand within this region can be attributed to various factors, including the substantial population, the continuously expanding middle class, and the progressive improvement in economic conditions. These factors collectively create a favorable environment for the sustained success and prosperity of the two-wheeler tire market in the Asia-Pacific region.

However, both North America and Europe are poised to experience significant growth in the forthcoming years. This growth can be attributed to the increasing popularity of recreational biking as well as the introduction of innovative and cutting-edge two-wheeler models. As more individuals are embracing biking as a form of leisure activity and means of transportation, the demand for new and advanced bikes is expected to soar, driving the growth of the market in these regions.

In summary, the global two-wheeler tire market is poised for robust growth in the future, driven by multiple factors such as increasing motorcycle usage, advent of new technologies, and the popularity of recreational biking. Despite the challenges, the industry holds promising potential for players ready to innovate and adapt in this fast-evolving market.

Major companies operating in Global Two-Wheeler Tire Market are:

• Bridgestone Corporation
• Michelin Group
• Continental AG
• Pirelli & C. S.p.A.
• MRF Limited
• CEAT Ltd
• Goodyear Tire and Rubber Company
• JK Tyre & Industries Ltd.
• Cooper Tire & Rubber Company
• Kenda Rubber Industrial Co. Ltd.

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“The global two-wheeler tire market is primarily propelled by increasing motorcycle sales and a surge in the demand for high-performance tires. An uptick in off-road biking activities, riding clubs, and bike expeditions boosts demand further. Moreover, the rise in electric and hybrid motorcycle production, coupled with advancements in tire technology, has contributed to market growth. Lastly, the development of tubeless and puncture-resistant tires has also played a significant role in driving the market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“Global Two-Wheeler Tire Market Segmented By Vehicle Type (Motorcycle & Scooter/Moped), By Demand Category (OEM Vs Replacement), By Regional, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Two-Wheeler Tire Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Two-Wheeler Tire Market.

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