Two Wheeler Tire Market to Reach $ 20 Billion by 2025
Continuously growing
two-wheeler sales coupled with expanding fleet size to drive global two-wheeler
tire market through 2025
According to recently
released TechSci Research report, “Global Two-Wheeler
Tire Market By Vehicle Type, By Demand Category, By Region, Competition,
Forecast & Opportunities, 2015-2025’’, the global two-wheeler tire market is
forecast to cross $ 20 billion by 2025. 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. Increasing
vehicle population and traffic congestion on city roads is also boosting demand
for two-wheelers, especially in the developing economies. 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, which leads to higher adoption of two-wheelers. Countries
such as China and India are major contributor to the global two-wheeler tire
market. Growing acceptance of two-wheeler taxis is another reason fueling the
demand for two-wheelers in different parts of world, which is another reason
fueling the demand for two-wheeler tires.
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
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 is further anticipated to intensify
the competition in the two-wheeler tire market across the globe over the course
of the next five years. Companies across the world are also introducing more
performance-oriented radial tires to better suit different driving conditions,
which is further anticipated to promote the level of radialization in global two-wheeler
tire market in the coming years.
The Scooter/moped
segment dominated the global two-wheeler tire segment in 2019 on the back of high
preference for scooters and mopeds, especially in the Asia-Pacific region. 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.
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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, which is
driving demand for two-wheeler tires. 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 decent 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, 2015-2025” 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.
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