APAC to Continue Dominating Global Two-Wheeler Tire Market through 2023
Continuously growing
two-wheeler sales volume coupled with expanding fleet size to drive global
two-wheeler tire market through 2023
According to recently released TechSci
Research report, “Global
Two-Wheeler Tire Market By Vehicle Type, By Demand Category, By Region, Competition
Forecast & Opportunities, 2013-2023’’, the global two-wheeler tire market is forecast to cross
$ 18 billion by 2023. Major drivers boosting two-wheeler tire demand across the
globe include rising two-wheeler sales due to their ease of maneuverability and
high mileage coupled with expanding two-wheeler fleet. Asia-Pacific accounts
for the lion’s share in the global two-wheeler tire market on account of high
population density and inefficient road infrastructure across various major
economies of the region. Continuous business expansion of prominent
two-wheeler tire manufacturing companies across the globe such as Apollo, CEAT,
MRF, IRC, ZC Rubber, etc., and
their continuing research and development activities to manufacture
technologically advanced, economical as well as more efficient tires and their
growing product portfolio is further anticipated to intensify the competition in
the two-wheeler tire market across the globe over the course of the next five
years.
Browse 204
market data Figures spread through 291
Pages and an in-depth TOC on "Global Two-Wheeler Tire Market"
https://www.techsciresearch.com/report/global-two-wheeler-tire-market/3110.html
Scooter/moped segment
dominated the global two-wheeler tire segment in 2017 on the back of growing preference
for scooters and mopeds, especially in Asia-Pacific region, and among the younger
generation. A steep rise in demand for scooters has been registered in
countries such as India due to rising demand from female drivers. Moreover, dominance
of scooter segment was further supported by rapid increase in demand for premium
scooters in European countries over the last few years, which has consequently led
to higher sales of scooter tires in the global two-wheeler tire market. Furthermore,
mopeds, which don’t require license in many countries, is largely being used in
countries having large influx of tourist, thereby stimulating demand for moped
tires.
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“Low per capita income,
rising crude oil prices, increasing traffic congestions along with poor public
transport infrastructure in various major countries across Asia-Pacific and
Africa are contributing
significantly towards the growth of the global two-wheelers industry, and thus,
two-wheeler tire market. Moreover, with growing inclination of general
population towards two-wheelers owing to their high maneuverability and
expansions of product portfolios by major two-wheeler tire manufacturers, the global
two-wheeler tire market is poised to grow at a brisk pace over the next five
years.’’ said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Global Two-Wheeler Tire Market By Vehicle Type, By Demand Category, By Region, Competition Forecast
& Opportunities, 2013-2023” has analyzed the potential of global two-wheeler tire
market, and provides information and statistics on market structure and trends.
The report will suffice in providing 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 global two-wheeler tire market.
About TechSci Research
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Research is serving clients across 11 different industrial verticals. TechSci
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