Press Release

India Two-Wheeler Tire Market, Led by MRF, to Reach $ 2.7 Billion by 2023

Continuously growing two-wheeler fleet, rising production operations across the country and increasing traffic congestion to drive India two-wheeler tire market through 2023

According to TechSci Research report, “India Two-wheeler Tire Market By Vehicle Type, By Demand Category, By Radial vs Bias, By Rim Size, By Tire Size, Competition Forecast & Opportunities, 2013 – 2023’’, the country’s two-wheeler tire market is forecast to cross $ 2.7 billion by 2023. In 2016, India surpassed the world’s largest market for two-wheelers, i.e., China, when two-wheeler sales in the country surpassed 17 million units as compared to China’s sales that were marginally short of the 17 million mark. The two-wheeler market in India, in the following year, slashed all records as it crossed the mark of 20 million units for the first time, beating all industry estimates. This growing sales of two-wheelers in India are expected to continue during the forecast period as well, due to which the tire demand for the two-wheeler vehicles is also anticipated to grow at a robust pace in the country.

Browse 54 market data Figures and 7 Tables spread through 105 Pages and an in-depth TOC on "India Two-Wheeler Tire Market"

The motorcycle segment dominated India two-wheeler tire market with over 60% volume share in 2017. However, a steep rise in the demand for scooters has been registered in the country due to rising number of female drivers, consequently fueling tire demand from the scooter segment as well. With no new model launches in the moped segment, moped tire segment maintained subdued growth in 2017 and the same trend is likely to continue during the forecast period as well. Continuous business expansion of prominent two-wheeler tire manufacturing companies across the country such as MRF, CEAT, TVS, etc., along with entry of new players such as JK Tyres, Bridgestone, Michelin in the two-wheeler tire segment is anticipated to intensify the competition in India two-wheeler tire market over the course of the next five years. For instance, CEAT is ramping up its production capacity for two-wheeler tires in its Nagpur plant. MRF & CEAT are the most recognized two-wheeler tire manufacturers across the country as more than 70% of the respondents expressed knowledge of these brands as per a consumer survey conducted by TechSci Research. MRF grabbed the highest satisfaction level among customers of two-wheeler tires across the country.

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“Increasing urbanization, growing female workforce in rural and semi-urban areas, along with constantly rising fuel prices are among the major factors propelling demand for two-wheelers across the country. Moreover, lack of proper public transportation is further contributing to the growth of two-wheeler industry in India, which is positively influencing the demand scenario in the country’s two-wheeler tire market. Furthermore, India two-wheeler tire market is poised to grow at a brisk pace over the next five years owing to rising preference of citizens towards compact and economical source of transportation i.e. two wheelers.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based India management consulting firm.

India Two-wheeler Tire Market By Vehicle Type, By Demand Category, By Radial vs Bias, By Rim Size, By Tire Size, Competition Forecast & Opportunities, 2013 – 2023 has analyzed the potential of India two-wheeler tire market, and provides information and statistics on market structure and trends. The report intends to provide the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. The report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by the industry.

About TechSci Research

TechSci Research is a leading India market research firm publishing premium market research reports. Serving 700 India clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking India and country specific high growth markets helps TechSci clients to lead rather than follow market trends.


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